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
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.
Locke Lord LLP | USA | 29 Sep 2009
Earlier this month, a New York appellate court held that claims against the manufacturer of protective devices for ears were barred by the three-year statute of limitations governing actions to recover damages for personal injury.
Locke Lord LLP | USA | 18 Sep 2009
On August 24, 2009, the US District Court for the Southern District of New York preliminarily approved a $150 million settlement of a subprime-related securities class action pending against Merrill Lynch and several of its directors and officers styled, Louisiana Sheriff's Pension and Relief Fund v. Conway et al.
Locke Lord LLP | USA | 18 Sep 2009
On July 30, 2009, the US District Court for the Eastern District of New York approved a $37.25 million settlement of a subprime-related securities class action styled, In re American Home Mortgage Securities Litigation.
Locke Lord LLP | USA | 15 Sep 2009
After months of discussion with industry and consumer groups, the New York Insurance Department (the "Department") released yesterday proposed regulations creating an obligation on the part of insurers to disclose information about producer compensation to purchasers.
Locke Lord LLP | USA | 15 Sep 2009
Yesterday, the New York State Insurance Department ("NYSID") issued a press release announcing that it will hold public hearing on Wednesday, September 16, regarding life insurance and annuity sales practices.
Locke Lord LLP | USA | 11 Sep 2009
As of August 12 2009, in accordance with Chapter 293 of the Laws of New York 2009, the minimum number of directors required for New York domestic insurers has been reduced from thirteen to seven, and the minimum number of New York resident directors required for domestic insurers has been reduced from two to one.
Locke Lord LLP | USA | 4 Sep 2009
The recently proposed Eleventh Amendment (the “Amendment”) to Regulation 41 (11 NYCRR 27), which governs the standards for excess lines placement, became effective on September 2, 2009.
Locke Lord LLP | USA | 2 Sep 2009
Mechanical Dynamics & Analysis, LLC ("MD&A") performed repairs on a generator at a power plant owned by the Arizona Public Service Company ("APS").