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Results: 1-10 of 160

Connecticut District Court: insurer's default judgment does not necessarily preclude litigation in subrogation action

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

A Connecticut District Court recently held that plaintiffs, who brought a subrogation action to recover a judgment entered in their favor in an underlying legal malpractice action against their attorneys, were entitled to litigate coverage issues even though the attorneys' insurer obtained a default judgment against the attorneys in a separate coverage action

House introduces health insurance bill to repeal antitrust exemption

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • February 24 2010

On Monday, February 22, Representatives Tom Perriello (D-Va.) and Betsy Markey (D-Colo.) introduced H.R. 4626, the Health Insurance Industry Fair Competition Act, to repeal the McCarran-Ferguson Act antitrust exemption for the business of health insurance

Chinese drywall first bellwether trial ongoing

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • March 9 2010

The first federal trial in the nationwide Chinese drywall controversy began on February 19th, 2010 in New Orleans and is ongoing

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

National Flood Insurance Program may be reinstated this week

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

The National Flood Insurance Program (the "NFIP") expired March 28, 2010

Health care legislation imposes tax on annuity income

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • April 26 2010

The Health Care and Reconciliation Act (the "Act"), signed into law on March 30, 2010, imposes a tax on annuity income to help pay for the multi-billion dollar reform package set forth in both the Act and the Patient Protection and Affordable Care Act, signed into law on March 23, 2010

NY court: insured may recover consequential damages absent insurer bad faith

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • December 23 2009

On December 15, 2009, New York's Appellate Division for the First Department held that an insured need not allege or prove that its insurer acted in bad faith in order to recover consequential damages stemming from the insurer's breach of the policy

Texas moves closer to banning use of discretionary clauses in insurance contracts

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

The Texas Department of Insurance (“TDI”) has officially proposed regulations banning the use of discretionary clauses in insurance contracts

New York Insurance Department to hold hearing on August 20, 2010 on whether to expand the Export List under Regulation 41

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • July 28 2010

A public hearing on August 20, 2010 will explore the possibility of increasing insurance capacity in New York by easing access to unauthorized insurers

Federal regulation of the insurance industry: we are living in interesting times

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • July 27 2010

The week of July 19, 2010 was an interesting week for the insurance industry with developments affecting the industry as a whole and a proposal to regulate life settlements as securities at the federal level