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Virginia issues guidance on information security program requirement
- Edwards Wildman Palmer LLP
- -
- USA
- -
- October 2 2009
The Virginia State Corporation Commission Bureau of Insurance (the "Bureau") recently issued a bulletin to provide guidance on the development and implementation of privacy safeguards to all insurers, health service plans, health maintenance organizations, surplus lines brokers and other interested parties
House passes surplus lines and reinsurance reform bill
- Edwards Wildman Palmer LLP
- -
- USA
- -
- September 10 2009
On September 9, 2009, the U.S. House of Representatives passed the Non-admitted and Reinsurance Reform Act of 2009, H.R. 2571 (the “NRRA”), marking the third time the House has passed a version of the NRRA
New compensation disclosure requirements proposed for New York insurance producers
- Edwards Wildman Palmer LLP
- -
- USA
- -
- September 15 2009
After months of discussion with industry and consumer groups, the New York Insurance Department (the "Department") released yesterday proposed regulations creating an obligation on the part of insurers to disclose information about producer compensation to purchasers
New York reduces director requirements for domestic insurers
- Edwards Wildman Palmer LLP
- -
- USA
- -
- September 11 2009
As of August 12 2009, in accordance with Chapter 293 of the Laws of New York 2009, the minimum number of directors required for New York domestic insurers has been reduced from thirteen to seven, and the minimum number of New York resident directors required for domestic insurers has been reduced from two to one
Eleventh Circuit affirms judgment in favor of contractor’s insurers, finding no bad faith
- Edwards Wildman Palmer LLP
- -
- USA
- -
- September 10 2009
In Fidelity & Deposit Co., et al. v. Douglas Asphalt Co., et al., No. 09-10919 (11th Cir. Jul. 28, 2009), the Eleventh Circuit affirmed the District Court’s judgment in favor of the insurers, who sought to recover from their insured payments made under payment and performance bonds when the insured allegedly defaulted and failed to complete a project
New Vermont Captive Insurance Association President
- Edwards Wildman Palmer LLP
- -
- USA
- -
- September 16 2009
Following a nation-wide search, Michael Bemi, Chair of the Vermont Captive Insurance Association (the "VCIA") Board of Directors, recently announced that the VCIA has selected Richard Smith as the new President of the VCIA
New York announces public hearing on life insurance and annuity sales practices
- Edwards Wildman Palmer LLP
- -
- USA
- -
- September 15 2009
Yesterday, the New York State Insurance Department ("NYSID") issued a press release announcing that it will hold public hearing on Wednesday, September 16, regarding life insurance and annuity sales practices
Connecticut trial court awards judgment in favor of insured and rejects insurer’s theory that insured’s lack of income was motive for loss where insured had other assets
- Edwards Wildman Palmer LLP
- -
- USA
- -
- September 14 2009
A Connecticut trial court recently awarded judgment, following a bench trial, in favor of an insured who sought coverage from her insurance company for her vehicle after it was stolen and destroyed by fire
Trust beneficiary has standing to sue life insurance carrier to collect policy benefits
- Edwards Wildman Palmer LLP
- -
- USA
- -
- September 14 2009
The United States District Court for the Eastern District of Wisconsin recently held that a beneficiary of a trust has standing to sue the life insurance carrier to collect policy benefits on an accidental death policy
Massachusetts Insurance Commissioner steps down for position in academia
- Edwards Wildman Palmer LLP
- -
- USA
- -
- September 18 2009
According to industry reports, Massachusetts Insurance Commissioner, Nonnie S. Burnes, recently announced her plan to resign from the Insurance Department to become a senior university fellow at Northeastern University, where she earned her law degree
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- Jurisdiction - USA
- Workarea - Insurance & Reinsurance
- Author - M Machua Millett
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