K. Renee Schimkat

K. Renee Schimkat

Carlton Fields Jorden Burt

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Expect Focus - Spot The Regulator, Volume IV, Fall 2014

In This Issue: - IN THE SPOTLIGHT ..Crisis Management: Five Steps to Take Before Providing That Comment - LIFE INSURANCE ..Third Circuit Limits ERISA Fiduciary Liability to those with Ultimate...more

1/16/2015 - Automotive Loans CFTC Class Action Consumer Complaint System Data Breach Divorce Driverless Cars FCC Healthcare HIPAA Insurance Industry Life Insurance Money Market Funds Mortgages NAIC Private Equity Funds STOLI Unsolicited Faxes

Fifth Circuit Dismisses For Lack Of Appellate Jurisdiction Appeal Of Order Compelling Arbitration

The Fifth Circuit Court of Appeals has dismissed, for lack of appellate jurisdiction, a district court order granting a motion to compel arbitration filed by Certain Underwriters of Lloyds of London and several other...more

1/15/2015 - Appeals Arbitration Insurance Industry Jurisdiction Motion to Compel

U.K. Court Approves Insurance Business Transfer Scheme

A court in the United Kingdom has approved the transfer of the entire long-term insurance business of Prudential Annuities Limited (PAL) to The Prudential Assurance Company Limited (PAC). The transfer’s purpose was to...more

1/13/2015 - Insurance Companies Long-Term Care UK

New York Law Governs STOLI Dispute In Texas

A Texas appellate court’s choice of law determination proved pivotal where a life insurer contested its duty to pay proceeds on the grounds that the policy was fraudulently acquired as part of a stranger-oriented life...more

1/6/2015 - Assignments Choice-of-Law Fraud Insurance Litigation Life Insurance STOLI

District Of Columbia Approves Amendments To Captive Insurance Company Act Of 2004

The Council and Mayor of the District of Columbia have approved enacting amendments to the Captive Insurance Company Act of 2004 to, in part, strike references to segregated accounts; clarify certain statutory requirements...more

12/29/2014 - Amended Regulation Captive Insurance Company Insurers

NAIC Approves Seven Foreign Countries As Qualified Jurisdictions For Reinsurance Collateral Reduction Requirements And Announces...

At its December 11, 2014 meeting, the National Association of Insurance Commissioners (NAIC) approved seven foreign countries as Qualified Jurisdictions so that reinsurers licensed and domiciled in those jurisdictions will be...more

12/23/2014 - Foreign Entities Jurisdiction NAIC Reinsurance

U.K. Tribunal Finds Broker Alliance Does Not Fall Within Vat Exemption For Insurance-Related Services By Brokers And Agents

An upper tribunal in the United Kingdom has dismissed an appeal brought by Westinsure, an alliance of brokers formed to provide introductions and improve the business terms of its members, where Westinsure argued its services...more

12/4/2014 - Insurance Brokers UK VAT

Court Rejects Insurer’s Argument That It Contracted To Its Reinsurer All Obligations Owed Under A Ceded Policy

A federal district court has denied an insurer’s motion for summary judgment on a breach of contract claim, rejecting Liberty National Life’s argument that it contracted to its reinsurer all obligations owed under a ceded...more

12/2/2014 - Assumption of the Risk Breach of Contract Insurers Reinsurance

Court Denies Motion To Compel Production Of Documents Relating To Reinsurance Coverage

A federal district court has denied that part of an insured’s motion seeking to compel the insurer to produce all documents relating to its reinsurance coverage. The court ordered the production of the reinsurance agreements...more

11/14/2014 - Document Productions Insurers Motion to Compel Reinsurance

Court Dismisses All Claims Brought By Insured Against Reinsurance Intermediary And Agent In Connection With Fraudulent Scheme And...

A federal district court has dismissed all claims brought against American Special Risk (ASR), a reinsurance intermediary and agent for insurer Signet, by insured Car Sense. Car Sense sued Signet and ASR in connection with a...more

11/12/2014 - Buyback Programs Dismissals Insureds Reinsurance

Court Confirms Arbitration Panel’s Interim Award Requiring Reinsurer To Post Security For Cedent’s Claimed Losses

A federal district court has confirmed an arbitration panel’s interim award requiring Allied Provident, as reinsurer, to post security for unreimbursed losses and expenses that its cedent claims are due under the parties’...more

10/24/2014 - Arbitration Arbitration Awards Equitable Relief Reinsurance

Is It Still Privileged? An Insurer’s Disclosure Of Information To Its Reinsurers And Brokers Waives Privilege … Sometimes.

A federal district court recently held that an insurer waived any claim of attorney-client or work product privilege when it disclosed otherwise potentially privileged information to its reinsurers and to its broker. In doing...more

10/22/2014 - Attorney-Client Privilege Common-Interest Privilege Corporate Officers Directors FDIC Insurance Brokers Insurers Progressive Casualty Insurance Company Redaction Reinsurance Work Product Privilege

Federal Law Governing Foreign Risk Retention Groups Preempts State Law That Prohibits Mandatory Arbitration Clauses In Insurance...

The Nebraska Supreme Court has held that Nebraska’s statute prohibiting mandatory arbitration clauses in insurance policies is preempted by the Liability Risk Retention Act of 1986 (LRRA). At issue was a professional...more

10/2/2014 - Arbitration Arbitration Agreements Mandatory Arbitration Clauses Preemption Risk Retention

Pennsylvania Court Affirms Liquidator’s Decision That A Claim Arising From A Reinsurance Policy Is Entitled To A Lower Payment...

A Pennsylvania appellate court has affirmed the liquidator’s determination that a group excess insurance policy issued by Reliance is a reinsurance policy and thereby entitled to a low level of priority of payment from the...more

9/29/2014 - Excess Policies Liquidation Reinsurance

Alaska Issues Bulletin On Regulations Modifying Surplus Lines Requirements

Alaska’s Division of Insurance has released a bulletin notifying licensees, surplus lines insurance companies in the State of Alaska, and other interested parties that it has adopted regulations modifying surplus lines...more

9/12/2014 - Insurance Reform New Regulations Reinsurance Surplus Lines Insurance

Court Rejects Claims Of Privilege, Work Product, And The Common Interest Doctrine To Reinsurance Information

In a discovery dispute between insurer Progressive and the FDIC, as receiver of the insured bank, a federal district court has rejected all claims of attorney-client privilege and work product protection to reinsurance...more

9/10/2014 - Attorney-Client Privilege Banks Common-Interest Privilege FDIC Insurers Progressive Casualty Insurance Company Receivership Reinsurance Work Product Privilege

Court Lacks Jurisdiction To Hear Motion To Vacate Arbitration Decision That Denied Withdrawal Of Arbitrable Claim

A federal district court has dismissed a motion to vacate an arbitration decision denying a party’s request to unilaterally withdraw a claim that was subject to a pending arbitration. Finding the arbitration decision was not...more

8/21/2014 - Arbitration Binding Arbitration Jurisdiction Motion to Vacate

Fifth Circuit Holds Order Remanding Case Back To Arbitrators For Clarification Is Non-Final And Non-Appealable

The appeal arose from a lawsuit to clarify an arbitration award concerning an alleged breach of a corporate merger agreement containing a binding arbitration clause. The federal district court found the arbitration panel had...more

8/19/2014 - Arbitration Breach of Contract Mandatory Arbitration Clauses Mergers Reinsurance Remand

Arbitration Award Roundup

Mohammad Z. Alim v. KBR, Inc., Case No. 13-11094 (5th Cir. June 5, 2014) (affirming district court’s denial of motion to vacate arbitration award, finding plaintiff had waived his partiality argument by failing to raise the...more

7/31/2014 - Arbitration Arbitration Awards

Travelers Indemnity Settles Reinsurance Disputes With Excalibur

In two related cases, Travelers has settled its claims against Excalibur Reinsurance. A number of prior posts have addressed the substance of the parties’ disputes – for example, discovery issues (sealing portions of...more

7/31/2014 - Discovery Insurers Reinsurance Rules of Civil Procedure Settlement Travelers

Arbitrators, Not Courts, To Decide Availability Of Class Arbitration Under Parties’ Agreement

A federal court in New York has held that arbitrators, not courts, should decide whether class arbitration is available under an arbitration agreement entered into between private parties. The court had previously compelled...more

7/10/2014 - Antitrust Litigation Arbitration Agreements Arbitrators Class Arbitration

California Supreme Court Upholds Validity Of Class Action Waivers In Employment Arbitration Agreements; Prohibits Waivers For...

The California Supreme Court has upheld the validity of class action waivers in employment arbitration agreements, reversing its prior rule that California courts could refuse to enforce such waivers on grounds of public...more

7/7/2014 - Arbitration Arbitration Agreements Class Action Class Action Arbitration Waivers Class Certification Iskanian PAGA Trucking Industry

Vermont Amends Law Governing Credit For Reinsurance

Vermont has amended its law governing how ceding insurers take credit for reinsurance within the state. The law, in part, implements new eligibility requirements for assuming insurers to be accredited reinsurers and requires...more

6/11/2014 - Accreditation Reinsurance Risk Management

Court Awards $5.6 Million In Damages For Covered Claims Under Retrocession Agreements

A federal district court has awarded Munich Re $5.6 million in damages in its breach of contract action against American National Insurance Company for ANICO’s nonpayment of certain claims the court previously determined were...more

6/9/2014 - Breach of Contract Damages Retrocessional Claims

Connecticut Amends Law Concerning Captive Insurers

Connecticut has amended its law concerning captive insurers doing business in the state to include, in part, a new provision on how foreign captive insurers can become Connecticut domestic companies and revisions on how...more

5/30/2014 - Captive Insurance Company Reinsurance Risk Assessment Risk Management

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