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Results: 11-20 of 67

New Jersey releases proposed rule and notice of pre-proposal for disclosure of producer compensation for sales of health insurance policies
  • Locke Lord LLP
  • USA
  • September 21 2009

The New Jersey Department of Banking and Insurance (the “Department”) released a draft rule, N.J.A.C. 11:17B-4 (PRN 2009-242) (the “Proposed Rule”), setting forth the specific requirements of N.J.S.A. 17:22A-41.1


SEC Task Force to investigate life settlements
  • Locke Lord LLP
  • USA
  • September 21 2009

According to industry reports, the US Securities and Exchange Commission has formed a multidisciplinary task force (“Task Force”) to investigate life settlements (i.e. the sale of life insurance products by policyholders to third-party investors


Massachusetts Insurance Commissioner steps down for position in academia
  • Locke Lord LLP
  • USA
  • September 18 2009

According to industry reports, Massachusetts Insurance Commissioner, Nonnie S. Burnes, recently announced her plan to resign from the Insurance Department to become a senior university fellow at Northeastern University, where she earned her law degree


Delaware Supreme Court: under certain circumstances, a D&O insurer may reasonably withhold its consent to settle
  • Locke Lord LLP
  • USA
  • September 17 2009

In an August 10, 2009 decision, the Delaware Supreme Court held that under certain circumstances, a D&O insurer may reasonably withhold its consent to settle a claim


Legislation introduced to eliminate federal antitrust exemption for health insurance and medical malpractice insurance companies
  • Locke Lord LLP
  • USA
  • September 17 2009

Today, Senate Judiciary Committee Chairman Patrick Leahy introduced legislation to eliminate the federal antitrust exemption for health insurance and medical malpractice insurance companies


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


New compensation disclosure requirements proposed for New York insurance producers
  • Locke Lord LLP
  • USA
  • September 15 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


New York announces public hearing on life insurance and annuity sales practices
  • Locke Lord LLP
  • USA
  • September 15 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


Connecticut trial court awards judgment in favor of insured and rejects insurer’s theory that insured’s lack of income was motive for loss where insured had other assets
  • Locke Lord LLP
  • USA
  • September 14 2009

A Connecticut trial court recently awarded judgment, following a bench trial, in favor of an insured who sought coverage from her insurance company for her vehicle after it was stolen and destroyed by fire


Trust beneficiary has standing to sue life insurance carrier to collect policy benefits
  • Locke Lord LLP
  • USA
  • September 14 2009

The United States District Court for the Eastern District of Wisconsin recently held that a beneficiary of a trust has standing to sue the life insurance carrier to collect policy benefits on an accidental death policy