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Results: 1-10 of 295

BP update: breakdown of Gulf Coast Claims Facility claim payments
  • Locke Lord LLP
  • USA
  • November 18 2010

The Gulf Coast Claims Facility ("GCCF") has issued a report containing updated data on claims payments made as of November 17, 2010


Connecticut Insurance Department issues new data breach notification requirements
  • Locke Lord LLP
  • USA
  • August 31 2010

The Connecticut Insurance Department ("Department") issued Bulletin IC-25 (the "Bulletin"), dated August 18, 2010, to require all entities doing business in Connecticut that are licensed by or registered with the Department to notify the Department of any information security incident


Eighth Circuit rules on diversity jurisdiction for federal actions to compel arbitration
  • Locke Lord LLP
  • USA
  • August 26 2010

A decision of the Eighth Circuit Court of Appeals, Northport Health Services of Arkansas, LLC v. Rutherford, No. 09-2433 (8th Cir. 2010), recently held that diversity of citizenship jurisdiction in the context of a motion to compel arbitration under 4 of the Federal Arbitration Act (“FAA”) can be determined by looking at the citizenship of the parties named in the proceedings before the district court, plus any indispensible parties who must be joined


NAIC adopts model regulation for final medical loss ratios
  • Locke Lord LLP
  • USA
  • November 4 2010

On October 21, 2010, the Executive and Plenary committees of the National Association of Insurance Commissioners ("NAIC") voted to adopt a model regulation containing the definitions and methodologies for calculating medical loss ratios as stipulated under the Patient Protection and Affordable Care Act ("PPACA"


New York Court of Appeals approves of stranger-owned life insurance contracts, for now
  • Locke Lord LLP
  • USA
  • November 18 2010

A five-judge majority of the New York Court of Appeals has declared that a person may procure an insurance policy on his or her own life and immediately transfer that policy to one without an insurable interest, regardless of the purchaser's intent


Third Circuit affirms district court’s vacatur of arbitration award, finding that the panel exceeded its powers by awarding relief not sought by either party
  • Locke Lord LLP
  • USA
  • November 18 2010

The U.S. Court of Appeals for the Third Circuit recently affirmed a District Court’s vacatur of an arbitration award because the arbitration panel exceeded its authority in ordering relief not sought by either of the parties and removing from the parties’ reinsurance agreement a material provision


Illinois federal court rules that reinsurer’s motion to vacate arbitration award is untimely under the Federal Arbitration Act
  • Locke Lord LLP
  • USA
  • November 4 2010

R&Q Reinsurance Co. v. American Motorist Ins. Co., involved a dispute arising under a series of reinsurance treaties entered into by the parties


California Insurance Commissioner sues to uphold moratorium on investment in Iran
  • Locke Lord LLP
  • USA
  • November 29 2010

The California Insurance Commissioner Steve Poizner has filed a lawsuit challenging the determination made by the California Office of Administrative Law ("OAL") that the Commissioner's attempt to place a moratorium on new investment in companies doing business in Iran by insurers licensed in California is an overreach of the Commissioner's powers


Bed bugs the next big bug for business interruption insurers?
  • Locke Lord LLP
  • USA
  • November 29 2010

Bed bugs are quickly becoming the bug du jour


New York court rules in favor of producer compensation disclosure regulation
  • Locke Lord LLP
  • USA
  • November 24 2010

As we last discussed here, the Independent Insurance Agents and Brokers of New York ("IIABNY") and the Council of Insurance Brokers of Greater New York ("CIBGNY") jointly filed an Article 78 proceeding to block the implementation of Insurance Regulation 194, which requires insurance producers to disclose certain information regarding their compensation to their clients