Finance & Banking – May 23, 2012

by Sedgwick LLP on 5/23/2012

The U.S. Treasury Department’s criminal enforcement arm, the Financial Crimes Enforcement Network (FinCEN), has reached individual agreements with the states of Louisiana and California which will allow state insurance...more

by Orrick, Herrington & Sutcliffe LLP on 5/22/2012

On May 10, 2012, Assured Guaranty announced that it had reached a $165.6 million settlement with Deutsche Bank resolving claims related to RMBS transactions issued, underwritten or sponsored by Deutsche Bank that were insured...more

by Saul Ewing LLP on 5/18/2012

In This Issue: - Reinsurer’s Obligation to Provide Coverage to Reinsured Not Contingent Upon Exhaustion of Limits of Primary Policy In granting an insurer’s motion for judgment on the pleadings, the United States...more

by Field Law on 5/14/2012

The Alberta government, in its wisdom (or lack thereof) has recently changed the rules for situations of overlapping auto coverage. In this paper, I will summarize the changes with a particular focus on non-owned auto...more

by Fisher & Phillips LLP on 5/11/2012

In response to the February 14, 2012 final rules and regulations issued by the Labor Department regarding the summary of benefits and coverage (SBC) provisions of Health Care Reform, the DOL, in conjunction with Health and...more

by Orrick, Herrington & Sutcliffe LLP on 5/8/2012

On May 2, 2012, mutual fund Asset Management Fund and related affiliates filed a summons with notice to commence an action against Morgan Stanley in the Supreme Court of the State of New York seeking $122 million in...more

by Barger & Wolen on 5/3/2012

On May 2, 2012, the California Assembly Insurance Committee approved a bill that would direct the insurance commissioner to treat a domestic insurer’s investment in a company that has business operations in Iran as a...more

by Orrick, Herrington & Sutcliffe LLP on 4/30/2012

On April 25, 2012, Metropolitan Life Insurance Co. (“MetLife”) filed suit in New York State Court against Morgan Stanley. MetLife alleges that Morgan Stanley misrepresented the quality of the mortgage loans underlying RMBS...more