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Helen Clark

Locke Lord LLP

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Chilean insurers raise insured loss estimates and relax claim notice requirements

Chile - March 5 2010 Having now dispatched personnel to review the damage, and beginning to receive reports from their largest insureds, Chile's insurers have raised their estimate of insured losses from US$ 2.6 billion to $US 4 billion....

M Machua Millett, Victoria Anderson.


The Bermuda Monetary Authority proposes introducing group-wide supervision in further move towards Solvency II equivalence

Bermuda - March 3 2010 The Bermuda Monetary Authority (the BMA) published a consultation paper on 5 February 2010 entitled "Consultation Paper on The Bermuda Monetary Authority's Proposed Insurance Groups Regulatory Framework" (the Paper)....

M Machua Millett, Jeanne Kohler.


Chinese drywall Judicial Panel on Multi-District Litigation rules that matter involving North American manufactured drywall should not be transferred to Chinese Drywall MDL

USA - December 30 2009 On December 2, 2009 the Judicial Panel on Multi-District Litigation ("JPML") ruled that an action alleging damage from North American manufactured drywall should not be transferred to the federal Chinese Drywall Multi-District Litigation ("MDL") pending in the Eastern District of Louisiana (In Re: Chinese-Manufactured Drywall Product Liability Litigation, MDL No.2047)....

M Machua Millett, Jeanne Kohler.


Renewal of bipartisanship in Senate Banking Committee

USA - December 29 2009 Amid the partisan atmosphere of the Senate’s marathon debate on healthcare reform, leaders of the Banking, Housing and Urban Affairs Committee last week sought to revive the notion that Democrats and Republicans are working together to craft financial regulatory reform legislation....

M Machua Millett, Jeanne Kohler.


Minnesota Department of Commerce revokes producer license in an insurable-interest case

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....

M Machua Millett, Jeanne Kohler.