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Results: 1-10 of 583

BP update: breakdown of Gulf Coast Claims Facility claim payments

  • Locke Lord LLP
  • -
  • USA
  • -
  • November 18 2010

The Gulf Coast Claims Facility ("GCCF") has issued a report containing updated data on claims payments made as of November 17, 2010

District court finds that the Federal Arbitration Act preempts state statute barring out-of-state arbitrations

  • Locke Lord LLP
  • -
  • USA
  • -
  • September 14 2010

In Binder v. Medicine Shoppe International, Inc., No. 09-14046 (E.D.Mich. 2010), a breach of contract dispute between the plaintiff (a franchisor) and the defendant (a franchisee) arose out of a Uniform Franchise Offering Circular and subsequent License Agreement (“Agreement”

Minnesota Department of Commerce revokes producer license in an insurable-interest case

  • Locke Lord LLP
  • -
  • USA
  • -
  • December 29 2009

In April 2009, the Minnesota Department of Commerce (the "Department") summarily suspended the insurance licenses of Michael Antonello and the insurance agency for which he served as chairman, Wealth Management Advisors, LLC ("Wealth Management"), for alleged dishonest practices in connection with the sale of life insurance policies and related Stranger Originated Life Insurance ("STOLI") transactions

Chinese drywall judicial panel on multi-district litigation rules that insurance coverage matter should not be transferred to Chinese drywall MDL proceedings

  • Locke Lord LLP
  • -
  • USA
  • -
  • December 30 2009

On December 2, 2009 the Judicial Panel on Multi-District Litigation (“JPML”) rejected efforts to transfer an insurance coverage action to the federal Chinese Drywall Multi-District Litigation (“MDL”) pending in the Eastern District of Louisiana

Chinese drywall - Louisiana legislature bans policy cancellations and non-renewals based upon drywall claims

  • Locke Lord LLP
  • -
  • USA
  • -
  • August 3 2010

Louisiana Governor Bobby Jindal signed legislation that bans insurers from cancelling or non-renewing homeowners insurance coverage when a policyholder files a claim based on Chinese Manufactured drywall

Federal court finds that fraud claim is not arbitrable

  • Locke Lord LLP
  • -
  • USA
  • -
  • August 4 2010

In a decision by the United States District Court for the Southern District of New York, AXA Versicherung AG v. New Hampshire Ins. Co., 05 Civ. 10180 (JSR) (S.D.N.Y. 2010), the court held that certain fraud claims were not a matter of contract interpretation and, therefore, not arbitrable under a provision in a facultative reinsurance agreement that provided for arbitration of disputes “arising out of the interpretation of this agreement.”

Federal judge rules that professional liability insurer must defend insurance broker against Ponzi scheme lawsuits

  • Locke Lord LLP
  • -
  • USA
  • -
  • April 28 2010

The U.S. District Court for the Southern District of Texas recently ruled that a professional liability insurer must defend its insured, an insurance brokerage and consulting firm, against claims by victims of the alleged Stanford Financial (“Stanford”) Ponzi scheme

New District of Columbia laws to impact insurance coverage eligibility for same-sex marriages performed out of state

  • Locke Lord LLP
  • -
  • USA
  • -
  • July 27 2009

In Washington, DC, two new laws were enacted this month that will impact insurance coverage eligibility in same-sex marriages performed out-of-state

New York federal court vacates prior order finding that arbitration must start anew

  • Locke Lord LLP
  • -
  • USA
  • -
  • July 30 2009

In early January, www.insurereinsure.com reported on In the matter of the Petition of Ins. Co. of North America, et al. against Public Service Mut. Ins. Co., No. 08-cv-7003 (S.D.N.Y.), in which the U.S. District Court for the Southern District of New York held that an arbitration must start anew because a member of the arbitration panel resigned for health reasons prior to the rendering of an award

Credit Suisse to settle Iran sanctions claims

  • Locke Lord LLP
  • -
  • Iran, USA
  • -
  • December 16 2009

Credit Suisse announced on December 15, 2009 that it is nearing a $536 million settlement with the New York County District Attorney's office and the US Department of Justice, Federal Reserve Board, Federal Reserve Bank of New York and the Office of Foreign Assets Control (OFAC