Costa Concordia – Lessons Learned and Path Forward by King, Krebs & Jurgens, PLLC on 2/8/2012 When the Costa Concordia ran aground on a reef off Giglio Island near the Tuscan coast of Italy last month, owners and insurers of vessels certainly paid attention. How could they not? The incident was the most...more
CMS Proposes Major Changes to AMP Rule by Morgan Lewis on 2/7/2012 For those pharmaceutical manufacturers that expected the long-awaited average manufacturer price (AMP) proposed rule to be replete with provisions that significantly impact their rebate liability, price reporting calculations, and...more
4th Circuit Applies Pro Rata Allocation by Traub Lieberman Straus & Shrewsberry LLP on 2/7/2012 In its recent decision in Pennsylvania National Mutual Cas. Ins. Co. v. Roberts, 2012 U.S. App. LEXIS 2084 (4th Cir. Feb. 3, 2012), the United States Court of Appeals for the Fourth Circuit, applying Maryland law, had occasion to...more
Business Associates Beware: First HIPAA Enforcement Action Against a Business Associate (And the Plot Thickens with Transparency... by Davis Wright Tremaine LLP on 2/7/2012 On Jan. 19, 2012, in the wake of the theft of an unencrypted laptop computer containing approximately 23,500 patients' records, the Minnesota attorney general brought the first formal enforcement action against a business...more
Life Insurer "Death Master" Investigation Leads to Multi-State Regulatory Settlement by Barger & Wolen on 2/6/2012 Insurance regulators across the nation from time-to-time focus their efforts on pursuing the joint investigation of a legal issue (e.g., brokers’ fees or title insurance matters) that is perceived by the regulators as...more
California Department of Insurance Settles Suit Over Iran Investments by Barger & Wolen on 2/6/2012 On January 27, the California Department of Insurance (“DOI”) issued a news release that it had reached a settlement in its lawsuit that sought to require insurers to disclose investments in companies doing business...more
New Tax Guidance on Use of Annuities in Retirement Plans by Sutherland Asbill & Brennan LLP on 2/6/2012 On February 2, 2012, the Internal Revenue Service (IRS) and Department of Treasury, together with the White House, released four pieces of guidance with the stated purpose of easing certain burdens on providing annuity distribution...more
Effect of New Michigan Health Insurance Claims Assessment Act on Group Health Plans by McDermott Will & Emery on 2/6/2012 The new Michigan Health Insurance Claims Assessment Act imposes a 1-percent tax on “paid claims” for health-related services of employer-sponsored health and welfare plans. Employer plan sponsors with employees in...more
10 Tips on How to Make Your Professional Business Partners Your Risk Manager by Jaburg Wilk on 2/6/2012 For many business owners, the day to day focus of operating and growing your business takes precedence over everything else. Minor issues are quickly forgotten and not addressed. Sometimes this is harmless and other...more
Utah Supreme Court Advances Policyholder Rights by Morgan Lewis on 2/3/2012 Weighing in on an issue that has split courts, the Utah Supreme Court recently held that a liability insurer that funds a settlement of an underlying claim against its policyholder for more than policy limits cannot later seek...more
Legal Alert: Title VII Record-Keeping Requirements Extended to GINA by Ford & Harrison LLP on 2/3/2012 In a final rule published by the Equal Employment Opportunity Commission (EEOC) on February 3, 2012, the agency has extended the record-keeping requirements imposed under Title VII and the Americans with Disabilities Act (ADA) to...more
New York Court Addresses Impact of Allowing Insured to Default by Traub Lieberman Straus & Shrewsberry LLP on 2/3/2012 In its recent decision in Sunnyside Dev. Co., LLC v. Chartis Specialty Ins. Co., 2012 U.S. Dist. LEXIS 9392 (S.D.N.Y. Jan. 26, 2012), the United States District Court for the Southern District of New York demonstrated the...more
You Can't Insure What's Not Yours: NY Court Determines SEC Disgorgement Payment Not Insurable Loss as Matter of Public Policy by Sedgwick LLP on 2/2/2012 New York's Appellate Division, First Department In J.P. Morgan Securities, Inc. v. Vigilant Ins. Co., ___ N.Y.S.2d ___, 2011 WL 6155586 (N.Y. App. Div. Dec. 13, 2011), New York's Appellate Division,...more
"Extraordinary" Expenses Decrease Income in Disability Benefits Calculation by Sedgwick LLP on 2/2/2012 U.S. Court of Appeals for the Fourth Circuit In Fortier v. Principal Life Ins. Co., ___ F.3d ___, 2012 WL 76021 (4th Cir. (N.C.) Jan. 11, 2012), the U.S. Court of Appeals for the Fourth Circuit held that a...more
Medicare Part D Disclosure to CMS Due February 29 by Warner Norcross & Judd on 2/2/2012 Have you made your 2012 Medicare Part D Disclosure to the Centers for Medicare and Medicaid Services (CMS) yet? If not, we at Warner want to remind you that the deadline is approaching. Employers who sponsor group health plans that...more