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Results: 1-10 of 707

Venezuela, Guatemala and Nicaragua approve new insurance laws
  • Locke Lord LLP
  • Nicaragua, Venezuela, Guatemala
  • August 6 2010

The legislatures of Venezuela, Guatemala and Nicaragua have each recently approved new laws governing the activities of insurers, reinsurers and (re)insurance intermediaries concerning risks located within the respective countries


Legal expenses insurance must comply with insured's freedom to choose lawyer under EU directive
  • Locke Lord LLP
  • United Kingdom, European Union
  • July 30 2010

On 19 July 2010, the FSA sent a letter to UK insurance firms reminding them of the requirement that terms in legal expenses insurance must not detract from, or qualify in any way, an insured's freedom to choose a lawyer


Hong Kong: yuan liberalisation boosts insurers
  • Locke Lord LLP
  • China, Hong Kong
  • July 29 2010

On 20 July 2010, the Hong Kong Special Administrative Region and Beijing signed an historic agreement allowing Hong Kong to become the first yuan clearing centre outside mainland China


New York State Court denies motion to compel discovery of reinsurance and reserve information
  • Locke Lord LLP
  • USA
  • July 29 2010

In Mt. McKinley Ins. Co. v. Corning Inc., 2010 NY Slip Op 20235 (N.Y. Sup. Ct. June 14, 2010), an insured (“Corning”) moved to compel discovery of reinsurance and reserve information from its insurers, arguing that this information was relevant, material and necessary to its coverage claim


New York Insurance Department to hold hearing on August 20, 2010 on whether to expand the Export List under Regulation 41
  • Locke Lord LLP
  • USA
  • July 28 2010

A public hearing on August 20, 2010 will explore the possibility of increasing insurance capacity in New York by easing access to unauthorized insurers


Government proposes to establish independent insurance authority
  • Locke Lord LLP
  • Hong Kong
  • July 28 2010

On 12 July 2010 the Secretary for Financial Services and the Treasury, Professor K C Chan, released a consultation paper entitled "Proposed Establishment of an Independent Insurance Authority"


Iran's shipping industry suffers as foreign insurers withhold coverage
  • Locke Lord LLP
  • Iran
  • July 28 2010

According to a recent article in the Washington Post, "Tehran's ability to ship vital goods has been significantly curtailed as some of the world's most powerful Western insurance companies cut off Iranian shippers out of fear that they could run afoul of U.S. laws, the insurers say."


California insurers divest $400 million in Iran-related assets
  • Locke Lord LLP
  • USA
  • July 28 2010

California Insurance Commissioner Steve Poizner announced on July 1, 2010 that insurers in his state had sold about 20 of the assets the industry holds in the 50 companies that the California Department of Insurance ("CDI") has identified as doing business with Iran's nuclear, energy and defense sectors


German government opposes US legislation limiting deductibility of reinsurance premiums
  • Locke Lord LLP
  • USA, Germany
  • July 28 2010

Proposed legislation that would limit a tax deduction for reinsurance premiums paid to a foreign affiliate of a US insurer has drawn the formal opposition of the German government


Federal regulation of the insurance industry: we are living in interesting times
  • Locke Lord LLP
  • USA
  • July 27 2010

The week of July 19, 2010 was an interesting week for the insurance industry with developments affecting the industry as a whole and a proposal to regulate life settlements as securities at the federal level