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Results: 1-8 of 8

BankAtlantic verdict voided

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • May 10 2011

We previously reported on the jury verdict against BankAtlantic in the matter of In re BankAtlantic Bancorp, Inc. Securities Litigation, S.D.Fla. Docket No. 07-cv-61542-UU

Eighth Circuit emphasizes importance of reading D&O policy language

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • January 31 2011

Again reviving a coverage claim by a former bank director against her D&O insurer, the United States Court of Appeals for the Eighth Circuit performed a useful service by closely analyzing the policy's grant of coverage and exclusionary clauses

New York governor formally announces plan to merge insurance department with banking department

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • January 6 2011

As expected, New York Governor Andrew Cuomo announced during his State of the State address plans to merge the Insurance Department with the Banking Department and Consumer Protection Board in order to create a new Department of Financial Regulation

Breaking news: New York governor to propose merger of banking and insurance departments

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • January 4 2011

According to reports, it is anticipated that incoming New York Governor Andrew Cuomo will announce during his State of the State Address tomorrow, January 5, 2011, plans to merge the Insurance Department and Banking Department into a single agency in an effort to reduce costs and improve efficiency

During hearing to consider Ambac’s rehabilitation plan, insurance regulator reveals that liquidation of the bond insurer was considered

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

As we first covered here, Ambac Financial Group Inc., the parent of the ailing Wisconsin-domiciled bond insurer Ambac Assurance Corp., filed for Chapter 11 bankruptcy relief with United States Bankruptcy Court for the Southern District of New York on November 8, 2010

Treasury Department proposes a plan that would require US banks to report all overseas money transfers

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

On September 29, the Washington Post and New York Times reported that the United States Treasury Department's Financial Crimes Enforcement Network ("FinCEN") issued a proposal this week that would require US banks to report all electronic money transfers into and out of the United States

Massachusetts Appeals Court affirms dismissal of action against business owner policy by mortgagee

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

The Massachusetts Appeals Court recently affirmed the Superior Court's granting of an insurer's motion to dismiss after finding that the standard mortgage clause in a business owner's policy did not confer coverage on a mortgagee for loss of rent where the mortgagor had executed an assignment of rent in the event of default

NAIC releases RFP to produce designations for commercial mortgage-backed securities

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • August 2 2010

The NAIC is seeking proposals for a vendor to model expected losses on approximately 7,500 commercial mortgage-backed securities (CMBS) as of December 31, 2010, according to a news release issued by the NAIC July 28, 2010