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Results: 1-10 of 286

NAIC Valuation of Securities (E) Task Force adopt assumptions for residential mortgage-backed securities

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • December 8 2009

On December 2, 2009, the NAIC Valuation of Securities (E) Task Force adopted final assumptions ("the Assumptions") for the financial model used in determining risk based capital ("RBC") for insurer owned residential mortgage-backed securities ("RMBS"

New York State Court denies motion to compel discovery of reinsurance and reserve information

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • July 29 2010

In Mt. McKinley Ins. Co. v. Corning Inc., 2010 NY Slip Op 20235 (N.Y. Sup. Ct. June 14, 2010), an insured (“Corning”) moved to compel discovery of reinsurance and reserve information from its insurers, arguing that this information was relevant, material and necessary to its coverage claim

NY lower court holds that Insurance Law 3420(a) applies to lawyer’s claims-made malpractice policy

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • November 19 2009

The New York Supreme Court, Erie County, recently held that a lawyers’ professional liability policy constitutes a "policy or contract insuring against liability for injury to person" within the meaning of Insurance Law 3420(a)(3)-(4

NY Court of Appeals applies Pennsylvania law to bar coverage for malpractice claim pursuant to prior knowledge exclusion

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • November 19 2009

Reversing the intermediate appellate court, New York’s highest court recently granted summary judgment in favor of two excess insurers based upon their policies’ prior knowledge exclusion

California issues proposed emergency regulations to implement life settlement law

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • June 23 2010

On June 11, 2010, the California Insurance Department issued proposed regulations, on an emergency basis, to implement Senate Bill 98 (“SB”), which repealed existing viatical settlement statutes and enacted life settlement statutes

SEC and NAIC take affirmative steps to address corporate disclosures regarding climate change

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • October 27 2009

On October 2, 2009, as part of the 48th Annual Corporate Counsel Institute held at Northwestern University School of Law, SEC Commissioner Elisse B. Walter gave a speech entitled “SEC Rulemaking ‘Advancing The Law’ To Protect Investors.”

Massachusetts Supreme Judicial Court defines contours of statute regulating indemnification (but not insurance provisions) in lease agreements

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • May 18 2010

The Massachusetts Supreme Judicial Court recently held that G.L. c. 186 15, which makes void any indemnification agreement or provision whereby a tenant is obligated to indemnify a landlord, in whole or in part, for the landlord’s own negligence, does not apply to insurance provisions in the lease agreement

Connecticut Superior Court held that insurer was not required to provide underinsured motorist coverage for insured’s family member

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • February 5 2010

A Connecticut Superior Court recently awarded summary judgment in favor of an insurer on the basis that an insured’s family member who resides in the insured’s household is not entitled to underinsured motorist benefits if they are similarly not entitled to liability coverage under the family member’s policy

Connecticut jury awards $14.7 million against insurer for violation of Unfair Trade Practices Act in auto body shop class action lawsuit

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • February 8 2010

In a class action lawsuit brought by various auto body shops and the Auto Body Association of Connecticut, a Connecticut jury recently rendered a $14.7 million verdict against an insurance company for allegedly violating the Connecticut Unfair Trade Practices Act

Georgia Federal District Court finds that hot tub water is “intended for bodily consumption”

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • November 11 2009

The United States District Court for the Northern District of Georgia recently held that an insurer had a duty to defend under a CGL policy and umbrella policy against claims relating to a hotel guest’s alleged contraction of Legionnaire’s Disease from a dirty hot tub