Searching Content indexed under Insurance by Jason R. Brost ordered by Published Date Descending.
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Illinois Legislation Revises Laws Applicable To Captive Insurance Companies
Illinois has adopted a bill that includes a number of revisions to its laws regarding captive insurance companies.
United States
17 Dec 2018
Florida Court Finds That Arbitration Agreement Broadening Judicial Review Violates Florida Public Policy
In a lawsuit brought by a contractor against a subcontractor and its insurer, Florida's Fourth District Court of Appeals found a provision in an arbitration agreement allowing for a broad ranging review of any arbitration award to be void as a matter of law and policy.
United States
12 Dec 2018
District Court Finds That The Convention On The Recognition And Enforcement Of Foreign Arbitral Awards Is Not Preempted By State Law Prohibiting Arbitration Of Insurance Disputes
A district court judge in the U.S. District Court for the Eastern District of Louisiana has issued an order attempting to resolve the apparent tension ...
United States
23 Nov 2018
UK Court Considers Whether Payment Of Insurance Claim Violates Iran Sanctions
The insurer argued that paying this claim would expose it to sanctions based on US sanctions barring the provision of services to Iran.
5 Nov 2018
Texas Department Of Insurance Proposes Rule Changes Regarding Captive Insurance
The Texas Department of Insurance has proposed a set of amendments to its regulations concerning captive insurance in order to implement changes passed into law by the Texas legislature in 2015 and 2017.
United States
12 Oct 2018
Second Circuit Partially Vacates Summary Judgment Ruling In Asbestos Risk Reinsurance Case
The Second Circuit has partially vacated summary judgment rulings in a case involving the reinsurance of asbestos-related risks. The case involves Utica Mutual Insurance Company .
United States
9 Oct 2018
Contract Claims Dismissed Against Reinsurers And Reinsurance Service Providers, But Negligence Claim Against Service Providers Allowed To Go Forward
Vantage, the plaintiff, had purchased insurance from Assured Risk Transfer (ART) against the risk that a company to which Vantage had loaned $22 million would default.
United States
24 Sep 2018
Insurance Broker Must, At Its Own Expense, Produce Documents Requested By Subpoena Issued In Dispute Between Workers' Compensation Insurer And Its Insureds
A district judge in the Eastern District of California has ordered a third-party insurance broker to comply with a subpoena from defendants seeking documents related to that broker's sale of
United States
11 Sep 2018
New Jersey Tax Court Finds That Companies For Which New Jersey Is The Home State Must Pay Taxes On All Premiums Paid To Captive Insurers For U.S. Based Risks.
A tax court judge in New Jersey has handed Johnson & Johnson (J&J), and likely other New Jersey-based businesses that operate captive insurers, a significant loss in an opinion interpreting...
United States
15 Aug 2018
Northern District Of New York Allows Evidence That Follow The Fortunes Or Follow The Settlements Provision Could Be Implied In Facultative Reinsurance Certificates
The court also considered Munich's motion to preclude certain testimony by Utica's expert witnesses regarding trade usage and custom and practice in the reinsurance industry.
United States
18 Jul 2018
Appellate Court Of Massachusetts Finds That Reinsurer Must Pay Workers' Compensation Benefits Of Bankrupt Self-Insured Employer
In a recent opinion, a Massachusetts appeals court was required to determine who is liable to pay workers' compensation benefits owed by a self-insured employer that has gone bankrupt?
United States
4 Jul 2018
Eastern District Of Pennsylvania Holds That Plaintiffs Forfeited American Pipe Tolling By Filing Their Lawsuit Too Soon
Plaintiffs claimed that defendants violated RESPA when JPMorgan created captive reinsurers to reinsure private mortgage insurance.
United States
7 Jun 2018
Kentucky Adopts 2016 Amendments To NAIC Credit For Reinsurance Model Law
The amendments will take effect on January 1, 2019.
United States
21 May 2018
Virginia To License Domestic Insurers To Sell Surplus Lines Insurance
Virginia has amended its insurance law to allow the licensing of domestic insurers (i.e., insurers incorporated or organized under Virginia law) as "domestic surplus lines ...
United States
30 Apr 2018
Federal Court Denies Reinsurer's Post-Trial Motions In Long-Running Dispute Which Resulted In A Verdict In Its Cedent's Favor
The court found that such a reconsideration of the jury's factual findings was beyond its authority under Rule 60, and it denied the motion.
United States
14 Mar 2018
SEC Settles Claims Against Individual And Entities It Claimed Used Investments In Reinsurance Business To Finance Lavish Lifestyle
A federal district court in Connecticut has entered final judgments pursuant to agreements between the SEC and three defendants in a case alleging that Haddad deceived investors into investing in Trafalgar and...
United States
22 Feb 2018
California Court Considers Enforceability Of Arbitration Clause In Reinsurance Related Agreement Applying Nebraska Law
In a case involving a reinsurance participation agreement (RPA), a California trial court has examined the interplay between two seemingly irreconcilable contract provisions: one that provided for the arbitration...
United States
1 Feb 2018
California DOI Amends Regulation Of Reinsurance
The California Department of Insurance (DOI) has adopted a set of amendments, effective January 1, 2018, to its regulations regarding reinsurance accounting, agreements and oversight.
United States
10 Jan 2018
Virginia Supreme Court Considers Terms Of Assumption Reinsurance Transaction In Determining Obligations Of Insolvent Insurer
A group of Kentucky hospitals sought reimbursement for legal fees incurred in two lawsuits related to the insolvency of their insurer, Reciprocal of America ("ROA").
United States
22 Dec 2017
Court Finds State Law Barring Insurance Arbitrations Reverse-Preempts Federal Arbitration Act
The case involved a dispute between the parties to a Reinsurance Participation Agreement (RPA). Defendants moved to compel arbitration, citing the Federal Arbitration Act and a provision in the RPA agreeing to resolve "[a]ll disputes arising with respect to any provision of this Agreement" in arbitration.
United States
19 Dec 2017
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