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Results: 1-10 of 160

Circular letter regarding contract certainty issued for comment by the New York Insurance Department

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • January 14 2010

The New York Insurance Department (the “Department”) recently issued a draft Supplement No. 1 to Circular Letter No. 20 (2008) (“CL No. 20”) regarding insurance contract certainty for propertycasualty insurance policies and reinsurance contracts

New York adopts revisions to Regulation 118 governing audited financial statements

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • January 12 2010

On December 28, 2009, the New York Insurance Department ("NYID") issued a Notice of Emergency adoption revising Regulation 118 to implement new audit and reporting standards on an emergency basis

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

NAIC adopts revisions to suitability in Annuity Transactions Model Regulation

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

On March 28, 2010, the National Association of Insurance Commissioners ("NAIC") issued a press release announcing adoption of revisions to the existing Suitability in Annuity Transactions Model Regulation (the "Model"

ERISA litigation: an update from the ALI-ABA conference on financial and insurance litigation

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • July 21 2010

ERISA litigation, once considered a dull backwater of the law, has been gaining increased interest and attention in recent years: the result of an aging population and an increasingly sophisticated and aggressive plaintiffs' bar

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

Federal court finds that limit of liability cap in facultative certificate includes a cedent’s defense expenses

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • June 1 2010

Pacific Employers Insurance Company ("PEIC") entered into a facultative reinsurance certificate with Global Reinsurance Corporation of America, fka Constitution Reinsurance Corporation ("Global"), which reinsured an umbrella commercial liability insurance policy issued by PEIC to Buffalo Forge Company

Update from RAA Re Contracts Conference presentation on extra contractual obligations and losses in excess of policy limits

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

We have been tracking developments at the RAA Re Contracts Conference, which took place this week in New York, as previously reported on www

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

Connecticut Appellate Court affirms summary judgment holding that insurer had no duty to defend or indemnify its insured in negligence claim brought by stabbing victim

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • January 25 2010

The Connecticut Appellate Court recently affirmed a trial court’s summary judgment holding that an insurance company had no duty to defend or indemnify its insured in a negligence action brought by a women who was stabbed twenty-four times by the insured