Locke Lord LLP | USA | 9 Oct 2009
The Association of Insurance and Reinsurance Run-Off Companies ("AIRROC") has announced the formal launch of the Dispute Resolution Procedure ("DRP"), an expedited binding arbitration procedure especially designed for small and less-complicated claims.
Locke Lord LLP | USA | 7 Oct 2009
The Connecticut Appellate Court recently affirmed a lower court’s grant of summary judgment in favor of an insurer based on its determination that the insured breached the insurance policy’s cooperation clause by failing to provide copies of requested tax returns.
Locke Lord LLP | USA | 6 Oct 2009
Plaintiff Callon Petroleum Company ("Callon") commenced an action against National Indemnity Company ("NICO") to recover for a judgment Callon obtained against NICO’s cedent, Frontier Insurance Company ("Frontier").
Locke Lord LLP | USA | 5 Oct 2009
The Massachusetts Secretary of the Commonwealth, William Galvin, recently announced an investigation into how credit rating agencies evaluate and rate the securitization of life settlements (i.e. life insurance policies sold by the insured to a third party).
Locke Lord LLP | USA | 5 Oct 2009
On April 26, 2004, the New Jersey Department of Banking and Insurance (“NJDBI”) issued Bulletin No. 04-05 advising property & casualty insurers that they may use credit scoring in determining an insured’s rate provided that consumer protection measures are established, including, but not limited to providing rate, underwriting and classification exceptions for consumers whose credit......
Locke Lord LLP | USA | 2 Oct 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.
Locke Lord LLP | USA | 1 Oct 2009
Though currently shadowed by healthcare reform efforts that have dominated the congressional schedule this fall, the push to enact a financial regulatory overhaul has been making steady progress in Congress.
Locke Lord LLP | USA | 28 Sep 2009
An insurer represented by Edwards Angell Palmer & Dodge attorneys John Hughes and Julia Ulrich was recently granted summary judgment by the Connecticut Superior Court in a lawsuit involving a claim for uninsured motorist coverage, and also alleging common law and statutory bad faith against the insurer.
Locke Lord LLP | USA | 25 Sep 2009
A Connecticut district court recently awarded summary judgment in favor of an insurance company due to the insured’s failure to cooperate in the insurer’s investigation of a claim.
Locke Lord LLP | USA | 23 Sep 2009
Vice President Joseph Biden spoke yesterday at the NAIC Fall meeting taking place near Washington DC, and he used the opportunity to seek the support of state insurance commissioners for the Government's proposals for national healthcare reform.