Reinsurance

News & Analysis as of

Q&A on SCOTUS and Arbitration

Q: Why has the Supreme Court of the United States taken more cases involving disputes over arbitration over the past decade or so and what does it mean for the insurance and reinsurance industry? Arbitration law used to...more

Reinsurer “Access to Records” and “Common Interest” – Permitting Access and Preserving Privilege

An integral part of the relationship between the reinsurer and cedant is that the reinsurer be permitted access to the ceding company’s books and records. A cedant, however, may face the dilemma of risking waiver of privilege...more

Reinsurance (E) Task Force Of The NAIC Meets In New Orleans

The minutes of the April 4, 2016 task force meeting included the following seven items of activity: - Adopted its Jan. 6, 2016 and Dec. 9, 2015 minutes (which were attached), which reflected the adoption of revisions to...more

NAIC Report: 2016 Spring National Meeting

The National Association of Insurance Commissioners (NAIC) held its 2016 Spring National Meeting from April 1 through April 6 in New Orleans, Louisiana. As host, Louisiana provided beautiful weather and bountiful great food....more

Court Denies Reconsideration Of Ruling That Reinsurer Must Post Pre-Pleading Security

On April 13, 2016, we reported on Select Insurance Company’s successful motion for pre-pleading security against Excalibur Reinsurance Corp., pursuant to Connecticut law. Excalibur filed a motion for reconsideration, which...more

Taking Rights over Third Party Insurances

Following the publication of our client alert dated 20th January 2016, we have been asked to consider a series of issues relating to insurance arrangements designed to maximise the benefit of cover for the interests of a...more

Nebraska Department Of Insurance Issued Notice Of Adoption Of Amendments To Credit For Reinsurance Rules

On February 25, 2016, the Nebraska Department of Insurance issued a notice to all insurers that amendments to Chapter 65, “Credit for Reinsurance”, of the Insurance Department Rules, have been filed with the Secretary of...more

Pennsylvania Federal Court Remands Litigation Against Broker Back To State Court, Finding That Party Was Not Fraudulently Joined

The background of this case is that Boomerang Recoveries LLC, a reinsurance program review company, investigated Farmers Insurance Company’s reinsurance contracts to identify any premiums Farmers had been overcharged in...more

Illinois Federal Court Transfers “Late Notice” Reinsurance Dispute To Pennsylvania

R&Q Reinsurance Company issued a facultative reinsurance certificate to St. Paul Fire & Marine Insurance Company, which reinsured a policy issued by St. Paul to Walter E. Campbell, Co. The broker who placed the certificate...more

Blog: PRA To Consolidate Its Collection Of Solvency II Directors’ Letters

Between 1 April 2013 and 15 February 2016, the PRA published a series of Solvency II Directors’ letters, Executive Directors’ letters, and Feedback Statements, so that everyone knew what its expectations were, as it developed...more

A Day of Reckoning for the CFPB?

Virtually ever since its inception on July 21, 2011, the Consumer Financial Protection Bureau (CFPB) has inspired wariness and skepticism in the financial institutions and financial services providers, subject to this new...more

Blog: Part VII Transfers: UK Court makes an order affecting a New York excess & surplus lines trust

The Copenhagen Reinsurance Company (CopRe) asked the UK High Court to make an Order sanctioning the intra-group transfer of the whole of its (re)insurance business to the Marlon Insurance Company (Marlon). Each of CopRe and...more

Court Confirms Arbitration Award Relating To Three Arbitration Agreements And Orders Certain Documents Unsealed

The court confirmed a final arbitration award in favor of the Petitioner, Employers Insurance Company of Wausau (“Wausau”), pursuant to Section 9 of the Federal Arbitration Action (FAA). Wausau and Ace Property and Casualty...more

What Is The Future Of The Multi-State Allocation Of Nonadmitted Premium Tax Revenue?

In the portion of the Dodd-Frank Act known as the Nonadmitted and Reinsurance Reform Act, Congress established a public policy and stated its desire that “each State adopt nationwide uniform requirements, forms, and...more

Insurance Europe Raises Concerns over Misunderstanding of Ultimate Forward Rate

On April 21, 2016, Insurance Europe, the European insurance and reinsurance federation, released a press release raising concerns over how Solvency II liabilities are currently calculated, including discount rates. This press...more

Court Denies Discovery Of Reserve Information

On Plaintiffs’ motion to compel discovery in a bad faith action against first-party property insurer Liberty Mutual Fire Insurance Company (“Liberty Mutual”), an Alabama federal court limited, but allowed, discovery related...more

Blog: PRA Explains Its Supervisory Priorities For General Insurers In 2016 / 7

The PRA has published a letter from Chris Moulder, its general insurance director, to the CEOs of the 26 general insurers and Lloyd’s syndicates that participated in its 2015 General Insurance Stress Testing exercise. The...more

UK Financial Regulatory Developments - April 2016 #16

Payments UK launches Standards Collaboration Framework - Payments UK has launched a new Standards Collaboration Framework to help the industry better access and implement the standards it relies on. Payments UK also...more

Third Circuit Affirms Summary Judgment Of Captive Reinsurance Dispute As Being Time-Barred

In early January, the Third Circuit Court of Appeals affirmed summary judgment of a putative class action dispute regarding private mortgage insurance and captive reinsurance of the same by M&T. We previously blogged about...more

Arbitrator, Not Court, Must Determine Arbitrability Of Dispute Under Reinsurance Participation Agreement

Adopting in part a magistrate judge’s recommendation, a federal court in Maine recently held that the enforceability of an arbitration clause in a reinsurance agreement must be determined by an arbitrator, as opposed to a...more

Is Your Workers Compensation Program Unlawful?

A popular workers compensation insurance program offered by Berkshire Hathaway subsidiaries Applied Underwriters Captive Risk Assurance Company (Applied Underwriters) and California Insurance Company may be in trouble. On...more

PHH v. CFPB: "What is a Kickback?"

On April 12, 2016, a panel of the U.S. Court of Appeals for the D.C. Circuit heard oral argument in PHH Corporation’s (PHH) milestone legal battle with the Consumer Financial Protection Bureau (Bureau). During the argument,...more

New York Federal Court Considers Procedural Attacks To Arbitration Confirmation Proceedings

Late last month, a federal district court in New York tackled procedural challenges to an arbitration confirmation proceeding. The arbitration arose from a dispute between an insurer and its reinsurer over the amount due to...more

Technological and Information Concerns Highlight NAIC Spring 2016 National Meeting

The National Association of Insurance Commissioners (NAIC) Spring 2016 National Meeting, which was held from April 3 – 6 in New Orleans, offered insight into numerous issues being considered by state commissioners nationwide....more

PHH Mortgage Attacks the CFPB: Will the Bureau Become a Commission?

On April 12, the U.S. Court of Appeals for the D.C. Circuit heard arguments in PHH Mortgage’s appeal of a $109,000,000 disgorgement order by the CFPB. The CFPB found PHH had illegally referred consumers to mortgage insurers...more

397 Results
|
View per page
Page: of 16
JD Supra Readers' Choice 2016 Awards

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×