Mondaq USA: Insurance
Mayer Brown
As reported in our prior bulletins, on 18 July 2013 the International Association of Insurance Supervisors published a methodology for identifying global systemically important insurers together with a set of policy measures that will apply to such insurers.
Shearman & Sterling LLP
The European Parliament published the provisional edition of a legislative resolution to adopt the Commission’s proposed Omnibus II Directive.
The choice of domicile for ILS transactions was among the hot topics discussed by leading industry players at a Guernsey Finance-hosted thought leadership event in the reinsurance centre of Zurich on Wednesday 2 July.
Reed Smith
On July 17, 2014, Liberty Mutual Insurance Company announced that it had entered into a multi-billion-dollar "retroactive reinsurance" arrangement with National Indemnity Company ("NICO"), a subsidiary of Berkshire Hathaway, Inc., with respect to asbestos, environmental, and other "long tail" exposures under all insurance and reinsurance in effect prior to January 1, 2005.
In early April, news broke of an encryption flaw named "Heartbleed" that exposed companies to data breaches for over two and one half years.
Rumberger, Kirk & Caldwell, P.A.
In Spaid v. Integon Indemnity Corp., Case No. 1D13-2343, the court imposed unlimited exposure on an insurer to pay personal injury protection benefits.
Proskauer Rose LLP
Life insurance plan beneficiaries were entitled to equitable surcharge where the plan administrator failed to inform the decedent about the need to convert to an individual policy.
Arent Fox LLP
New York’s highest court recently reversed summary judgment in a property damage and business interruption case.
Duane Morris LLP
A California Court of Appeal held that a non-contracted health plan's obligation to reimburse a hospital for services rendered to plan members must be based on the actual value of the services.
Proskauer Rose LLP
A district court awarded relief in the form of surcharge to a life insurance plan beneficiary who claimed that a plan administrator failed to provide complete and accurate information.
Jones Day
A minority of states have have limited "suit" to a complaint filed against the insured in court or certain types of administrative proceedings.
Duane Morris LLP
Congratulations to partner Terrance Evans, of the San Francisco office, on his appointment as Vice Chair of the ABA National Insurance Coverage Conference.
Proskauer Rose LLP
Steven Gilford and John Failla recently authored an article for "National Underwriter".
Anderson Kill
If the tail-end of 2013 wasn’t rocky enough for data security, 2014 thus far has offered no reprieve—ominous and regular reports of massive data breaches affecting all industries and all types of information holders fill the news.
Bradley Arant Boult Cummings LLP
An ERISA plan’s contractual limitations period can be enforced, so long as the claimant has a reasonable time after exhausting the administrative remedies to file suit.
On April 9, 2014, the United States District Court for the District of Delaware issued a decision allowing an investor to proceed with a claim seeking, among other things, a declaratory judgment concerning the validity of dozens of life insurance policies, even though no death benefit claim had been submitted on any of the policies.
In most states, carriers may void life insurance policies for lack of insurable interest at any point, even after the two-year contestability period prescribed by statute.
Anderson Kill
Some insurance companies have argued that "improper" advancement of defense costs by the corporation pursuant to corporate indemnity statutes somehow permits the insurance company to "recoup" defense costs they previously advanced by re-litigating the policyholder's entitlement to defense costs even after a successful defense.
The New York Department of Financial Services is proposing to extend stricter standards to acquisition deals across the life insurance industry.
Duane Morris LLP
The terms of an owner-controlled insurance policy defined "occurrence" as "...including continuous or repeated exposure to... the same general harmful conditions."
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Littler Mendelson
On January 10, 2014, the Internal Revenue Service released final regulations governing the employer shared responsibility provisions of the Affordable Care Act.
Although HIPAA does not create a private cause of action, a recent Indiana Superior Court jury verdict indicates that HIPAA could still play an important role in private causes of action in state court based on negligence and professional liability as it relates to confidentiality.
McGuireWoods LLP
No business is safe from privacy breaches and cyber attacks, and hackers grow more sophisticated each day.
Venable LLP
One of your employees cannot enroll in your health insurance plan because you classify him as "part-time" (one who works less than 30 hours a week).
Jones Day
The Affordable Care Act ("ACA") infuses new complexities into collective bargaining negotiations over health insurance benefits.
McDermott Will & Emery
Recently issued final regulations on the employer reporting requirements under the Affordable Care Act clarify and streamline the process for reporting information relating to the provision of minimum essential coverage and health insurance coverage offered under employer-sponsored plans.
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
Recent developments under the ACA and COBRA have made it challenging for certain terminating employees to continue health care coverage seamlessly.
Mayer Brown
On January 17, 2013, the Internal Revenue Service (IRS) released 544 pages of final regulations implementing the provisions of the Foreign Account Tax Compliance Act.
Pepper Hamilton LLP
The mortgagee filed a third-party complaint against its title agent, local counsel and underwriter asserting claims for breach of contracts and negligence.
Reed Smith
CMS issued an advance copy of the CY 2015 Medicare Physician Fee Schedule (PFS) proposed rule.
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