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Insurance Updates

Read Insurance Law updates, alerts, news, and legal analysis from leading lawyers and law firms:

What To Prepare For Dinner At Home - A Salad? An Omelet? Maybe Not When E. Coli & Salmonella Is At Risk

by Selman Breitman LLP on

Two East Coast Companies Announce Food Recalls - Thinking about fixing a salad at home today using that ready-to-eat salad mix you bought at the grocery store? If so, and you live in Indiana, Ohio, Pennsylvania or West...more

Insurers Keep Providing Corporate Governance Disclosures Without Complaint—Yet

by Carlton Fields on

Following the financial crisis, the NAIC undertook a solvency modernization initiative (SMI) to update insurance regulators on insurance companies’ regulatory frameworks. One part of the SMI, meant to keep regulators informed...more

New York Trial Court Finds Lexington Has No Duty to Provide Coverage for Damages Stemming from an Insured’s Knowing and...

by Carlton Fields on

County of Suffolk v. Lexington Ins. Co., Case Number 604661-2017, Supreme Court of the State of New York, Suffolk County - Under New York law, the requirement of a fortuitous loss is a necessary element for coverage to...more

Court Of Appeals Upholds Impactful Decision In The Gilbane Case

As we wrote in April 2017, the case of Gilbane Bldg. Co./TDX Constr. Corp., v. St. Paul Fire & Mar. Ins. has become the harbinger of the insurance world in regard to the effectiveness of an additional insured endorsement. On...more

Illinois Appellate Court Finds Breach of Duty to Defend When Insurer Reserved Rights to Challenge Insured’s Decision to Settle...

Rogers Cartage Co. v. Travelers Indem. Co.¸ 2018 IL App. 160098 (5th Dist. 2018), arose from underlying litigation involving environmental contamination and cleanup at two United States Environmental Protection Agency (EPA)...more

Another Appellate Court Holds that Faulty Work Constitutes an Occurrence – This Time Under New York Law

It is axiomatic that in order to obtain insurance coverage a policyholder must first establish that a claim falls within a policy’s insuring agreement before coverage under the policy is triggered. For construction claims...more

How to Evaluate Cyber Insurance Options?

by Vedder Price on

On April 10, 2018, the Federal Financial Institutions Examination Council (the “FFIEC”), an interagency body composed of the Board of Governors of the Federal Reserve System, Consumer Financial Protection Bureau, Federal...more

Court Applies The “Intertwined-Ness Test” To Find That A Non-Signatory Could Invoke Equitable Estoppel To Compel Arbitration

by Carlton Fields on

The court applied a two-part “intertwined-ness test” to determine whether an arbitration agreement allowed a non-signatory to invoke equitable estoppel to compel arbitration....more

Tax Reform: Insurance Company Provisions

by Carlton Fields on

Recent tax legislation, informally known as the Tax Cuts and Jobs Act (the “Act”) contains several changes that affect the insurance industry....more

UK Regulators Confirm Approach to Authorization and Supervision of International Banks, Investment Firms, Insurers and CCPs Under...

by Shearman & Sterling LLP on

Following the announcement on March 19, 2018 that a transitional period for Brexit had been agreed between the U.K. and the EU, the U.K. regulators have published statements setting out their expectations regarding firms'...more

Enforcement of DOL’s New Best Interest Contract Exemption’s Anti-Arbitration Condition is Enjoined

by Carlton Fields on

A number of lawsuits have been brought challenging aspects of the United States Department of Labor’s "fiduciary rule," which expanded the definition of "fiduciary" of an employee benefit plan or individual retirement account...more

State Suitability, Fiduciary Duty and Disclosure Initiatives Roundup

by Carlton Fields on

States are stampeding to impose additional duties on those who provide financial advice or make recommendations to consumers. Some of these initiatives result from the states’ belief that action is required to wrangle...more

FINRA Requires Order Taker Registration

by Carlton Fields on

In late 2017, FINRA pronounced in Regulatory Notice 17-30 that, "Beginning on October 1, 2018, unregistered persons cannot accept an order from a customer under any circumstances. ...more

The Boom Shift - Chemical Plant Explosion Claims and the Possible Adoption of Corporate Regulation Where Government Regulation is...

by Zelle LLP on

On the morning of March 15, 2018, a large explosion erupted at the Tri-Chem Industries chemical plant in Cresson, Texas, approximately 25 miles southwest of Fort Worth. The explosion left two workers badly injured and another...more

CMS Proposes “Wind Down” Plan for Federal Exchanges

Despite the Trump Administration’s unsuccessful attempts to fully repeal and replace the Affordable Care Act (the “ACA”), the Administration has continued to target the ACA. In the Administration’s latest salvo, the Centers...more

Captive Insurance Update | Issue No. 1 | 2018 - A summary of state and federal developments in the captive insurance industry

by Downs Rachlin Martin PLLC on

Vermont’s leadership team for captive insurance was remarkably stable in 2017. Governor Phil Scott and Michael Pieciak, the Commissioner of the Department of Financial Regulation (the “DFR”), completed their first full year...more

Investment Adviser Fee Table on the Table

by Carlton Fields on

On February 7, the Massachusetts Securities Division asked for public comment on a fee table requirement for Massachusetts-registered investment advisers....more

SEC Targets Variable Insurance Products

by Carlton Fields on

Once again, the SEC’s Office of Compliance Inspections and Examinations (OCIE) has made variable insurance products an exam priority....more

Implementation Delay and Q&As for Fund Liquidity Rule

by Carlton Fields on

On February 21, the SEC approved a six-month extension for mutual funds to comply with the classification (bucketing) requirements and related elements of its new liquidity rule....more

Medicare Secondary Payer Act Alert

by Wilson Elser on

The recent decision in Mayo v. NYU Langone Med. Ctr., 2018 NY Slip Op. (U) 30456 (N.Y. Sup. Ct. March, 13, 2018), voiding a settlement on grounds of mutual mistake, holds important lessons for those seeking to resolve a claim...more

Covered Agreement Implementation Discussions Move Forward

by Locke Lord LLP on

The National Association of Insurance Commissioners (NAIC) held a public hearing on February 20, 2018 to discuss the reinsurance provisions of the Bilateral Agreement between the U.S. and the EU on Prudential Measures...more

New Massachusetts Law Increases Patient Privacy for Dependents

by Foley & Lardner LLP on

On March 30, 2018, Massachusetts Governor Charlie Baker signed into law a bill intended to provide individuals with more privacy protection from their health insurance companies. The “Protecting Access to Confidential...more

Star Ratings and Future Measurement Concepts in the CY 2019 Final Call Letter

Medicare Part C and Part D Star Ratings are used by CMS to measure the quality of and reflect the experiences of beneficiaries in Medicare Advantage (“MA”) and Prescription Drug Plans (“PDPs”). Below is a summary of CMS’...more

Supreme Court Denies Insurer’s Petition to Review Standing in Data Breach Class Actions

by Carlton Fields on

In recent years, the insurance and financial services industries have been targets of high profile data breaches. The breached companies – themselves the victims of cyberattacks – often face putative class actions by...more

When Innovation Meets Regulation: InsurTech and State Licensing Laws

by Carlton Fields on

The rise of InsurTech — which brings technological innovations to the business of insurance — is having a significant impact on the insurance industry, including through advancements in cybersecurity tools, the introduction...more

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