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 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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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 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.
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.
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.
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.
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.
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.