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Climate change lawsuits update

USA - October 4 2012 In a unanimous decision on September 21, 2012, the Ninth Circuit Court of Appeals held that federal common law public nuisance claims based on domestic greenhouse gas ("GHG") emissions have been displaced by the Clean Air Act ("CAA") and the United States Environmental Protection Agency ("EPA") action that the CAA authorizes....

Samantha B. Miller.

Fine against reinsurer for violating sanctions regime highlights compliance issues

USA - July 15 2011 The United States Treasury’s Office of Foreign Assets Control (“OFAC”), which administers and enforces U.S. economic and trade sanctions, announced on June 29, 2011 that General Reinsurance Corporation (“Gen Re”) paid nearly $60,000 “to settle liability for apparent violations” of U.S. sanctions against Iran....

Pamela Marple, Carey G. Child, M. Scott Peeler, Heidi A. Lawson.

Dodd-Frank to simplify multi-state reinsurance regulation, depriving non-domiciliary states of much of their ability to regulate reinsurance, including in transactional contexts

USA - May 20 2011 As the insurance community is well aware, last year's Dodd-Frank Wall Street Reform and Consumer Protection Act goes beyond regulation of banks, derivatives and "too big to fail."...

David M. Raim, Carey G. Child, Daniel A. Rabinowitz.

Cat bonds, sidecars, ILWs and more -- have the recent "nat cats" brought the industry to an inflection point?

Global - April 14 2011 In the wake of recent natural catastrophes, punctuated by the devastating March 11 earthquake off Japan, no clear picture has yet emerged as to long-term effects on the insurancereinsurance industry....

Jonathan M.A. Melmed, David M. Raim, Carey G. Child, Daniel A. Rabinowitz.