News & Analysis as of

Reinsurance

English High Court Of Justice Analyzes Standards Governing Fraudulent Inducement Claims In Reinsurance Disputes

by Carlton Fields on

The Court of Appeal of England and Wales approved the judgment of the trial court in a reinsurance dispute between Axa and Arab Insurance Group (Arig) related to certain insured energy construction risks. The trial court had...more

The future of Hong Kong's insurance industry – New focus on reinsurance and captives?

by Hogan Lovells on

The Hong Kong Financial Services Development Council, an advisory body to the government, has recently released a report on the Hong Kong insurance sector. Its key recommendations are...more

China: CIRC Publishes Final Requirements for Collateral in Cross-border Reinsurance Transactions

by Hogan Lovells on

On 9 August 2016, the China Insurance Regulatory Commission (“CIRC“) issued the Notice on Matters Relating to Collateral Provided by Offshore Reinsurers (Draft) (the “Draft Notice“) for public consultation. On 13 March 2017,...more

A Shock to the System: Significant Changes to the Discount Rate Applicable to Personal Injury Damages Awards in England and Wales

by Sedgwick LLP on

On 27 February 2017, the Lord Chancellor and Minister of Justice announced significant changes to the Discount Rate applicable under the ‘Ogden Tables’ to the calculation of personal injury compensation payments and lump sum...more

Discovery Opinions Show Limits Of Privilege And Broad Standard Of Relevance

by Carlton Fields on

Three recent opinions issued by courts highlight the scope and limitations of a party’s right to discovery of reinsurance, reserve and allegedly privileged information in insurance coverage disputes....more

Changes to Bermuda Solvency Capital Requirement Postponed

by Sedgwick LLP on

In the light of concerns raised in industry feedback, the Bermuda Monetary Authority (BMA) has decided to postpone the introduction of various adjustments to the Bermuda Solvency Capital Requirement (BSCR) standard formula...more

Putative Class Action Involving A Patented Reinsurance Arrangement For Workers’ Compensation Coverage Largely Survives Dismissal

by Carlton Fields on

The case is pending in a federal district court in New York, and involves three allegedly interconnected contracts purportedly “designed to circumvent [state] insurance laws,” including the laws of New York. ...more

Appellate Court Precludes Assignee Of Reinsurance Claims From Re-Litigating Lack Of Entitlement To Arbitration

by Carlton Fields on

In 1986, Pine Top Insurance Company became insolvent and was placed into liquidation. The liquidator eventually sold Pine Top’s accounts receivable, including reinsurance claims, to an entity named Pine Top Receivables of...more

US-EU Covered Agreement: An Overview

On January 13, 2017, the then-US Secretary of the Treasury and the then-US Trade Representative (USTR) notified Congress that they had negotiated a covered agreement with the European Union (EU). Once the Covered Agreement...more

Expect Focus - Life Insurance: Risky Business, Volume I, March 2017

by Carlton Fields on

Regulators Demand Third-Party Risk Management - While third-party risk management has been a required component of an effective enterprise risk management program for many years, the topic is receiving elevated...more

Insurers/Reinsurers: Between a Rock and a Hard Place

by Locke Lord LLP on

A federal court in South Carolina recently adopted a Magistrate’s recommendation that an insurer’s communications with its reinsurers are relevant and discoverable. In ContraVest, Inc. v. Mt. Hawley Insurance Company, No....more

South Dakota Adopts Credit For Reinsurance Model Law

by Carlton Fields on

On March 6, 2017, the Governor of South Dakota signed into law House Bill 1045 conforming South Dakota law to the current version of the Credit for Reinsurance NAIC Model Law (Model 785). ...more

Issues to watch at the Denver NAIC Meeting

by Dentons on

As we head to the NAIC Spring National Meeting in Denver this weekend, here are just a few of the issues the Dentons IREG team will be engaged in...more

Extensive Use Of Attorney-Client Memo In Prior Lawsuit Destroyed Attorney-Client Privilege

by Carlton Fields on

Insured companies sued Travelers for allegedly misrepresenting the scope of coverage afforded for asbestos injury claims under certain Excess Overlayer Indemnity policies. At issue has been the discoverability of a memorandum...more

CMS Reconsiders Its Position Prohibiting Quota Share Reinsurance For Medicare Advantage Organizations

by Locke Lord LLP on

We previously reported on February 13, 2017 that the Centers for Medicare & Medicaid Services (CMS), on February 1, 2017, in connection with its 2018 Advance Notice (Notice), advised that quota share reinsurance arrangements...more

New York Federal Court Denies Cross Motions For Summary Judgment On Follow The Settlements Doctrine

by Carlton Fields on

In a lengthy February 24, 2017 opinion, a New York federal court denied cross motions for summary judgment on the Follow the Settlements Doctrine, filed by Utica Mutual Insurance Company and Utica’s reinsurer, Fireman’s Fund...more

The Australian Government significantly expands ATO powers to fight multinational tax avoidance: Legislation introduced for 40 per...

by DLA Piper on

The Australian Government introduced legislation (DPT legislation) into Parliament on 9 February 2017 to implement a further component (second limb) of the United Kingdom–style diverted profits tax (DPT), with effect from 1...more

Minnesota Weekly Legislative Update: Senate Releases Tax Bill in Advance of Final Committee Deadline

by Faegre Baker Daniels on

This week, the House and Senate committees have been working toward the third committee deadline of March 31, 2017. The third and final deadline requires committees to act favorably on major appropriation bills. Many of...more

Pennsylvania Appellate Court Denies Petition To Transfer Structured Settlement Involving LHWCA

by Carlton Fields on

Relying on Federal Court precedent, a Pennsylvania intermediate appellate court resolved whether the plain language of Section 916 of the Longshore and Harbor Workers’ Compensation Act (“LHWCA”) prohibits the assignment of...more

Insuring and reinsuring Canadian risks from the United States

by Dentons on

Over the past ten years, regulation in Canada of insurers has evolved significantly. Prior to the financial crisis, Canada’s primary regulator had begun to move from a "rules-based" approach to regulation to a...more

Excess and Surplus Lines Laws in the United States

by Locke Lord LLP on

Preface States’ Implementation Of NRRA IN 2016 - The Nonadmitted and Reinsurance Reform Act (“NRRA”) came into effect on July 21, 2011 as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The...more

The “El Niño” Effect In Peru, Can Anything Be Done?

by Zelle LLP on

After a period of severe drought, per recent news reports the “El Niño” effect is bringing heavy rainfall on Peru´s Northern coast causing overflowing of rivers, mudslides and flooding. This is the worst such disaster since...more

French Legal and Regulatory Update - February 2017

by Hogan Lovells on

The Paris office of Hogan Lovells is pleased to provide this English language edition of our monthly e-newsletter, which offers a legal and regulatory update covering France and Europe for February 2017. Commercial Law...more

Update On Liquidation Of The Home Insurance Company

by Carlton Fields on

The New Hampshire liquidation court approved the commutation, settlement, and release agreement between The Home Insurance Company (liquidating) and Pennsylvania Manufacturers Association Insurance Company (PMAIC). The...more

Florida Department Of Revenue Issues Advisement Determining That A Reinsurer And Its Cedents Did Not Have Nexus In Florida For Tax...

by Carlton Fields on

On January 13, 2017, the Florida Department of Revenue issued a Technical Assistance Advisement regarding whether a reinsurer had nexus with the state of Florida that would require it to file a corporate income tax return and...more

557 Results
|
View per page
Page: of 23
Cybersecurity

"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 using*

Already signed up? Log in here

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*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.
Feedback? Tell us what you think of the new jdsupra.com!