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Results: 1-10 of 418

Minnesota Department of Commerce revokes producer license in an insurable-interest case
  • Locke Lord LLP
  • USA
  • December 29 2009

In April 2009, the Minnesota Department of Commerce (the "Department") summarily suspended the insurance licenses of Michael Antonello and the insurance agency for which he served as chairman, Wealth Management Advisors, LLC ("Wealth Management"), for alleged dishonest practices in connection with the sale of life insurance policies and related Stranger Originated Life Insurance ("STOLI") transactions


Massachusetts court says subrogation waiver can survive project completion
  • Locke Lord LLP
  • USA
  • September 7 2010

In a case of first impression, the Massachusetts Appeals Court has ruled that an insured's waiver of its carrier's subrogation rights can survive the completion of a construction project


Wisconsin Governor signs life settlement law
  • Locke Lord LLP
  • USA
  • May 19 2010

On May 13, 2010, Wisconsin Governor Jim Doyle signed into law Senate Bill 513 ("SB 513") governing life settlements


New Vermont Captive Insurance Association President
  • Locke Lord LLP
  • USA
  • September 16 2009

Following a nation-wide search, Michael Bemi, Chair of the Vermont Captive Insurance Association (the "VCIA") Board of Directors, recently announced that the VCIA has selected Richard Smith as the new President of the VCIA


Connecticut trial court holds that “general business practice” element of an unfair settlement practice claim requires multiple acts of misconduct against multiple insureds
  • Locke Lord LLP
  • USA
  • February 5 2010

A Connecticut trial court recently held that the “general business practice” element of an unfair settlement practice claim under the Connecticut Unfair Insurance Practices Act, Conn. Gen. Stat. 38a-816(6) (“CUIPA”) requires that a plaintiff prove multiple unfair practices by an insurer against more than one insured


First Circuit: no coverage under claims made and reported policy if insured fails to report claim within policy period
  • Locke Lord LLP
  • USA
  • July 29 2009

The First Circuit recently held that an insured was not entitled to coverage under a Professional Liability claims made and reported policy where the claim is not both made against the insured and reported to the insurer within the policy period


Presentation by Eithne McCarthy - the new Insurance Block Exemption Regulation
  • Locke Lord LLP
  • 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


New York Attorney General files response to Article 78 petition to prevent the producer compensation disclosure requirements of Regulation 194; petitioners gear up for rebuttal
  • Locke Lord LLP
  • USA
  • August 13 2010

Earlier this year, the Independent Insurance Agents and Brokers of New York (the "IIABNY") and the Council of Insurance Brokers of Greater New York (the "CIBGNY") filed an Article 78 petition in New York State Supreme Court in Albany County against the New York Insurance Department (the "NYID") in order to prevent the mandatory producer compensation disclosure requirements of Regulation 194


D&O insurers face potential exposure on Deepwater Horizon claims
  • Locke Lord LLP
  • USA
  • August 13 2010

Media reports suggest that BP's D&O insurers could face significant exposure to claims stemming from the Deepwater Horizon disaster


Captive bill passed by New Jersey Assembly; next stop New Jersey Senate
  • Locke Lord LLP
  • USA
  • November 1 2010

On October 25, 2010, the New Jersey Assembly passed A.2360 (the “Bill”) by a vote of 77-0, which would permit a captive insurance market to exist in New Jersey