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Results: 1-10 of 408

Rhode Island 2011 budget - tax implications for surplus lines insurers and medical malpractice joint underwriters association
  • Locke Lord LLP
  • USA
  • June 16 2010

The 2011 Rhode Island state budget, which was enacted as HB 7397A and signed into law June 2, 2010, amends the taxation statutes applicable to surplus lines insurers and the Medical Malpractice Joint Underwriters Association


New estimates double -- BP oil spill is the equivalent to the Exxon Valdez disaster gushing into the Gulf of Mexico every 8 to 10 days
  • Locke Lord LLP
  • USA
  • June 16 2010

The Flow Rate Technical Group, a federal panel, now estimate that 20,000 to 40,000 barrels of oil a day are flowing into the Gulf of Mexico as a result of the Deepwater Horizon explosion


“Green” database to track and report on retrofitted buildings in New York City
  • Locke Lord LLP
  • USA
  • June 16 2010

The Deutsche Bank Americas Foundation is financing a database of hundreds of buildings that have been sustainably retrofitted in New York City


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
  • Locke Lord 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


U.S. lawsuits based upon foreign toxic tort liability: a growing threat?
  • Locke Lord LLP
  • USA
  • June 14 2010

In July 2009 in New Castle County in the State of Delaware, three separate plaintiffs filed civil suits against E.I. Du Pont De Nemours and Company, Inc. (“DuPont”) alleging that their work at a DuPont textile plant in Mercedes, Argentina from 1961 to 2002 caused them to be exposed to and inhale asbestos fibers


Federal funding for temporary high-risk insurance pool program to begin Summer 2010
  • Locke Lord LLP
  • USA
  • June 8 2010

In July 2010, some of the first money allocated by the new health care reform law will start flowing to states that have elected to participate in the federal temporary high-risk insurance pool program


FEMA confirms NFIP coverage applies to certain BP oil spill damage
  • Locke Lord LLP
  • USA
  • June 10 2010

According to media reports, the Federal Emergency Management Agency ("FEMA") has confirmed that damage caused by oil mixed with flood waters is covered under National Flood Insurance Program ("NFIP") policies


PIANY receives approval on draft language regarding producer compensation disclosure
  • Locke Lord LLP
  • USA
  • June 10 2010

As previously discussed here, the New York Insurance Department (the "Department") has put forth a regulation regarding the transparency of insurance producer compensation ("Regulation 194"), which is slated to take effect January 1, 2011


Federal court rules no coverage for Chinese drywall damages under homeowner’s policy
  • Locke Lord LLP
  • USA
  • June 7 2010

On June 3, 2010 Judge Robert G. Doumar of the U.S. District Court for the Eastern District of Virginia found that a homeowner’s policy did not cover damages associated with Chinese manufactured drywall


Court holds coverage for Madoff suits excluded under policy’s insolvency exclusion
  • Locke Lord LLP
  • USA
  • June 8 2010

The US District Court for the District of Connecticut recently dismissed a customer suit against an insurer, based upon its determination that all of the underlying claims were excluded by the policy's Insolvency Exclusion