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    UK Insurance Litigation To Watch As 2017 Rolls On

    The passage of the Insurance Act in 2015 and the Enterprise Act in 2016 are putting the U.K. insurance industry through its biggest legislative shake-up in a generation — but while the industry waits for notable suits to be filed under the new laws, these are the insurance cases they're watching.

    Colony Insurance Wants Out Of NJ Construction Co.'s $13M Suit

    Colony Insurance Co. sued former policyholder Troensa Construction Inc. in New Jersey federal court on Thursday, saying it owes no coverage for a $13 million underlying suit against Troensa over construction work on a new 265-unit condominium complex.

    ECB Says Brexit To Increase Costs, Fragment Clearing Market

    Eurozone attempts to wrest the clearing of euro-denominated derivatives from London may increase costs and fragment the market, a top European Central Bank executive said late Thursday.

    EU Swap Plan May Hit Structured Finance Ratings, Fitch Says

    Planned changes to the European Union’s multitrillion-dollar over-the-counter derivatives market could affect ratings in European structured finance transactions and create uncertainty over the use of derivatives in new deals, credit ratings agency Fitch Ratings said Thursday.

    Review Ransom Cover For Cyber Strikes, Broker Urges Firms

    Firms should extend their cyber insurance to cover disruption to their business and online ransom demands in the wake of this month’s massive international ransomware attack, according to a leading broker.

    Int'l Body Proposes Data Rules For Insurers

    A global accounting standards oversight body proposed fresh updates to its classification rules Friday ahead of major reforms to insurance bookkeeping due to take force in 2021.

    EU Threatens To Sue 4 Countries Over Solvency II Delays

    The European Commission has threatened legal action against four member states if they do not move to incorporate its controversial insurance capital rulebook into domestic law within two months.

    Fitch Warns Insurers Implementing Reforms Won't Be Easy

    Radical reforms to the way insurance firms report financial results will not trigger immediate ratings changes when they take force in 2021 — but they will be tough and expensive to implement, according to Fitch Ratings Ltd.

    UK Lobby Welcomes New Gov't Pledge On Whiplash Rules

    The U.K.’s top insurance lobby has applauded the ruling Conservative Party’s renewed commitment to tackling whiplash compensation after the original planned reforms were shelved when the June 8 general election was announced.

    Insurers Guilty Of Ogden Rate Hysteria, Top Lawyer Says

    U.K. insurers have reacted with “hysteria” to the government’s tougher new personal injury compensation formula and have been underpaying victims for years, a leading claimant lawyer said on Friday.

    Dillard's Worker Asks To Appeal Cert. Denial In Data Row

    A Dillard's employee on Thursday asked the Seventh Circuit for permission to appeal a ruling denying her bid to certify a class of workers alleging the retailer's insurer was liable for their personal information being displayed on a public website, saying the fact that class members are spread across many states doesn't preclude class certification.

    Insurer Can't Rescind Recycler's Policies, 9th Circ. Affirms

    Star Insurance Co. can't void a recycling company's policies despite misrepresentations on the policyholder's applications regarding the nature of its business, the Ninth Circuit affirmed Thursday, agreeing with a lower court that Star must cover claims stemming from an arson at the recycler's yard.

    Insurer Ducks Housing Discrimination Coverage At 6th Circ.

    The Sixth Circuit on Thursday upheld a lower court’s finding that a landlord had filed its insurance claim too long after it was informed of a discrimination complaint to be entitled to coverage from insurer Evanston Insurance Co.

    Insurer Needn't Pay $5M For Loan Fraud Loss, 6th Circ. Says

    The Sixth Circuit on Thursday ruled that Cumis Insurance Society Inc. doesn't have to pay $5 million under a fidelity bond to cover losses that a credit union suffered from an officer's fraudulent loan scheme, upholding the insurer's trial win before an Ohio federal court.

    Landmark Lloyds Pension Dispute Goes To UK High Court

    A case on behalf of thousands of female employees who claim Lloyds' and HBOS' pension schemes discriminate against them has landed in London's High Court, a landmark dispute that could lead to tens of billions of pounds for other pensioners nationwide.

    How Client Feedback Programs Benefit Law Firms And Clients

    Despite an increase in engagement with client feedback programs over the last 15 years, law firms — and their clients — have a way to go before realizing the maximum benefits such programs can deliver, says Elizabeth Duffy of Acritas US Inc.

    Bermuda Insurer Fights MF Global’s $1.8M Attys' Fee Bid

    Former MF Global excess insurer Allied World Assurance Company Ltd. said in New York bankruptcy court Wednesday that it never violated court rules, despite the defunct company’s bid for $1.8 million in attorneys' fees over insurers' alleged failure to obtain court permission before filing an action to arbitrate a contract dispute in Bermuda.

    MSA Wants $2M More In Fees In North River Asbestos Fight

    A Pennsylvania state judge has been urged to tack another $2 million in legal fees and court costs onto a $58 million damage award against North River Insurance Co. in a dispute over coverage for asbestos-related product liability claims.

    Houston Atty Fights Disbarment Over Fake Car-Crash Incident

    A Houston attorney who was disbarred after pleading guilty to his role in a criminal organization that fabricated a car crash and accompanying medical bills appealed his punishment to the Texas Supreme Court on Tuesday, arguing other attorneys have received lesser punishment for “more egregious” behavior.

    Allianz Builds Risk Algorithms For Cyber Insurance

    Allianz SE could deploy IP-address screening and linguistic algorithms to check risk for cyber insurance purposes following this month’s massive online attack, the global insurance giant said Thursday.

    Insurers Need Better Data To Build Cyber Cover, Lobby Says

    Cyberattacks that businesses must report beginning next year under an overhaul of data protection rules should form the basis of a national anonymized database of cyber incidents, which will help insurers respond better to cyber risks, the U.K.’s insurance lobby said Thursday.

    UK Lawyers Warn Nixing Fraud Squad Will Thwart Enforcement

    Theresa May's promise to abolish the Serious Fraud Office if re-elected prime minister as expected next month has been roundly condemned in the legal community, with City lawyers saying the move could diminish Britain’s standing as a leading anti-corruption light on the world stage.

    Painkiller Battles Loom Over NFL Despite Early Success

    A California federal judge this week decimated a lawsuit claiming 32 NFL teams and team doctors pushed players to abuse prescription painkillers, though the threat of an appeal and other individual claims over what some former players argue is a pervasive problem will continue to hang over the league.

    Insurers Must Be Wary As UK Sanctions Watchdog Enters Scene

    Questions linger about how aggressively the U.K.’s new sanctions enforcer will wield its enhanced fining powers modeled on the U.S. system, but experts say London insurers should prepare for the possibility of tougher scrutiny and stiffer penalties.

    UK's Tories Commit To Full Exit From EU Market

    The U.K.’s Conservative Party officially pledged on Thursday to leave both the European Union’s single market and the customs union when Britain exits the bloc, extinguishing any lingering hopes in the financial sector for a so-called soft Brexit.