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Results: 1-10 of 286

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


Minnesota Department of Commerce revokes producer license in an insurable-interest case
  • Locke Lord LLP
  • 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


A Connecticut Superior Court denies insurer's motion to strike counts alleging bad faith and violations of CUTPA
  • Locke Lord LLP
  • USA
  • January 7 2010

In Vincoli v. Hartford Underwriters Ins. Co., FST-CV-09-5009591-S (Conn.Super. Sept. 24, 2009), a Connecticut Superior Court recently denied an Insurer's motion to strike counts alleging bad faith and violations of CUTPA from a complaint


Connecticut trial court holds that “general business practice” element of an unfair settlement practice claim requires multiple acts of misconduct against multiple insureds
  • Locke Lord LLP
  • USA
  • February 5 2010

A Connecticut trial court recently held that the “general business practice” element of an unfair settlement practice claim under the Connecticut Unfair Insurance Practices Act, Conn. Gen. Stat. 38a-816(6) (“CUIPA”) requires that a plaintiff prove multiple unfair practices by an insurer against more than one insured


New York Insurance Department sets target date for Insurance Exchange revival (updated)
  • Locke Lord LLP
  • USA
  • February 10 2010

At the Insider Scope conference in London on February 10, 2010, New York Insurance Department (“NYID”) Superintendent James Wrynn announced that the NYID is targeting September 2010 for the publication of its action plan for the launch of the reconstituted New York Insurance Exchange (the “Exchange”


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


OGC opinion: Insurance Law 3420 also applies to claims-made policies
  • Locke Lord LLP
  • USA
  • July 30 2009

The New York Insurance Department’s (“NYID”) Office of General Counsel (“OGC”) recently issued an OGC Opinion (No. 09-06-08) representing the position of the NYID in respect of four distinct queries regarding the recent amendment to Insurance Law 3420, which we have closely followed and written about in this blog


OGC opinion: Insurance Law 3420 also applies to policies issued in NY but delivered out of state
  • Locke Lord LLP
  • USA
  • July 30 2009

The New York Insurance Department’s (“NYID”) Office of General Counsel (“OGC”) recently issued an OGC Opinion (No. 09-06-08) representing the position of the NYID in respect of four distinct queries regarding the recent amendment to Insurance Law 3420, which we have closely followed and written about in this blog


Circular letter regarding contract certainty issued for comment by the New York Insurance Department
  • Locke Lord LLP
  • USA
  • January 14 2010

The New York Insurance Department (the “Department”) recently issued a draft Supplement No. 1 to Circular Letter No. 20 (2008) (“CL No. 20”) regarding insurance contract certainty for propertycasualty insurance policies and reinsurance contracts