We use cookies to customise content for your subscription and for analytics.
If you continue to browse Lexology, we will assume that you are happy to receive all our cookies. For further information please read our Cookie Policy.

Search results

Order by: most recent most popular relevance



Results: 1-10 of 95

State regulators vie for seat on the newly proposed Financial Services Oversight Council
  • Locke Lord LLP
  • USA
  • August 3 2009

As previously discussed, the United State Treasury Department has recently submitted a proposal to form a Financial Services Oversight Council (the "Council") composed of various federal regulators to coordinate financial services regulation and oversight, but would not include a representative to the Council that has a specific insurance or reinsurance regulatory portfolio


OGC opinion: Insurance Law 3420 also applies to policies issued in NY but delivered out of state
  • Locke Lord LLP
  • USA
  • July 30 2009

The New York Insurance Department’s (“NYID”) Office of General Counsel (“OGC”) recently issued an OGC Opinion (No. 09-06-08) representing the position of the NYID in respect of four distinct queries regarding the recent amendment to Insurance Law 3420, which we have closely followed and written about in this blog


First Circuit: no coverage for false arrest suit where arrest and conviction occurred prior to the policy period
  • Locke Lord LLP
  • USA
  • August 4 2009

The First Circuit recently upheld a trial court’s ruling that an insurer need not defend or indemnify the defendants in a wrongful conviction claim where the wrongful acts occurred prior to the policy period


Insurance and financial regulatory reform update
  • Locke Lord LLP
  • USA
  • August 5 2009

As the House of Representatives prepared to leave for its month-long August recess last week, Rep. Richard Neal (D-MA) introduced legislation to repeal a controversial tax deduction used by foreign reinsurers


New York federal court vacates prior order finding that arbitration must start anew
  • Locke Lord LLP
  • USA
  • July 30 2009

In early January, www.insurereinsure.com reported on In the matter of the Petition of Ins. Co. of North America, et al. against Public Service Mut. Ins. Co., No. 08-cv-7003 (S.D.N.Y.), in which the U.S. District Court for the Southern District of New York held that an arbitration must start anew because a member of the arbitration panel resigned for health reasons prior to the rendering of an award


U.S. House votes to extend the NFIP
  • Locke Lord LLP
  • USA
  • August 3 2009

House Financial Services Housing Subcommittee Chairwoman Rep. Maxine Waters (D.-Calif.) and committee chairman Rep. Barney Frank (D.-Mass.) sponsored HR 3139 to temporarily extend the National Flood Insurance Program (the “NFIP”) for a six-month period through March 31, 2010


Insured bears burden of proving allocation of jury award between covered and non-covered claims unless insurer controls defense
  • Locke Lord LLP
  • USA
  • August 4 2009

The West Virginia Supreme Court recently answered the following question certified from the U.S. District Court in that state: Does the insured bear the burden of showing that a jury awarded damages for covered, as opposed to non-covered, claims when the answer is not clear from the award itself?


P&C insurers to submit copies of consumer notices in connection with credit scoring to New Jersey Department of Banking and Insurance
  • Locke Lord LLP
  • USA
  • October 5 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 information has been directly influenced by extraordinary life events, such as a serious illness, temporary loss of employment, divorce or identity theft, to name a few


PCI compliance survey finds companies need improvement
  • Locke Lord LLP
  • USA
  • October 2 2009

The Ponemon Institute recently published a survey on Payment Card Industry Data Security Standards ("PCI DSS") compliance


New York district court recognizes continued viability of manifest disregard of the law in the Second Circuit
  • Locke Lord LLP
  • USA
  • October 5 2009

Idea Nuova, Inc. moved in the U.S. District Court for the Southern District of New York to vacate or modify an arbitration award issued in favor of GM Licensing Group, Inc