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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
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
Third Circuit holds that professional services exclusion in general liability policy applies to all allegations arising out of architect’s work and insurers had no duty to defend
- Edwards Wildman Palmer LLP
- -
- USA
- -
- January 6 2010
The Court of Appeals for the Third Circuit, applying New Jersey law, recently held that all claims against an insured architectural firm arising out of the firm’s architectural work on a parking garage that later collapsed are not covered under its general liability policies due to professional services exclusions
Presentation by Eithne McCarthy - the new Insurance Block Exemption Regulation
- Edwards Wildman Palmer LLP
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- USA
- -
- April 22 2010
Eithne McCarthy, from the Financial Services Unit of the European Commission's Competition Directorate General (DG Comp), made a presentation on the new Insurance Block Exemption Regulation (BER) to the Law Society's Competition Section on 13 April 2010
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
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- 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
Massachusetts Attorney General issues report stating managed competition of auto insurance has failed
- Edwards Wildman Palmer LLP
- -
- USA
- -
- January 8 2010
At the end of December 2009, Massachusetts Attorney General Martha Coakley released a comprehensive report criticizing Massachusetts managed competition system for the deregulation of auto insurance
Second Circuit: distinguishing between policy definitions subject to NY Insurance Law 3420(d)(2)’s timely disclaimer requirement as an exclusion and those that are not
- Edwards Wildman Palmer LLP
- -
- USA
- -
- June 16 2010
In a decision issued on February 1, 2010, the United Stated Court of Appeals for the Second Circuit confirmed that under New York law some policy provisions, although placed outside of the policy's "Exclusions" section, may nonetheless be considered an exclusion and, therefore, subject to the timely disclaimer and denial requirement of NY Insurance Law 3420(d)(2
Ninth Circuit affirms ruling that reinsurer has no duty to contribute to settlement payment where reinsured excess policy was not triggered
- Edwards Wildman Palmer LLP
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- USA
- -
- July 2 2010
Texas Farmers Insurance Company ("Texas Farmers") issued claims-made insurance policies (transformed into occurrence-based policies through endorsement) to Kaiser Permanente, a medical facility, for the policy periods of 4999-4900, 4900-4901, and 4901-4902
Update: Bloomberg reports sharp decline in offshore oil rig drilling insurance as underwriters tack away from BP disaster-type risk
- Edwards Wildman Palmer LLP
- -
- USA
- -
- July 13 2010
Citing a number of industry executives, Bloomberg recently reported that the Deepwater Horizon rig explosion causing the largest oil spill in U.S. history has prompted a reduction in the placement of insurance coverage for deepwater oil exploration
Update from RAA Re Contracts Conference presentation on extra contractual obligations and losses in excess of policy limits
- Edwards Wildman Palmer LLP
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- 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
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- Workarea - Insurance & Reinsurance
- Jurisdiction - USA
- Firm Name - Edwards Wildman Palmer LLP
- Author - Victoria Anderson
- Author - M Machua Millett