The existing legal protection for whistleblowers across the European Union remains fragmented and in many member states needs to be significantly improved in scope, a European Parliament committee was told on Wednesday.
More multinational companies are using their own "captive" insurers in areas beyond traditional property and casualty risk, leading broker Marsh Ltd. said Wednesday, despite concerns the insurers could face increased regulatory scrutiny for potential tax avoidance.
Courts around the country will have their hands full with key insurance issues over the next six months, with the California Supreme Court considering whether a company's negligent supervision of an employee is an accidental occurrence and the New York high court weighing the scope of a reinsurer's coverage obligations.
U.K. insurers pressed the minority government on Wednesday to change the way courts calculate lump sum compensation for personal injury, after Prime Minister Theresa May bowed to other key insurance concerns in her legislative agenda for the next two years.
Statutory damages guarantee a minimum recovery in each individual case where a violation may cause only nominal damage.
But aggregated statutory damages in class actions can create a risk of staggeringly large awards, which may not be tax-deductible. Companies must know the law and take steps to minimize tax consequences, says Peter Robbins of Corbett & Robbins LLP.
Antitrust courts will take a close look at a series of exclusive agreements entered into by a company with an arguably high market share. However, as shown by the district court and Seventh Circuit decisions in the recent Illinois hospitals case, the evaluation will look beyond the words in the agreement to analyze their effect, if any, on competition and the competitive process, says Steven Cernak of Schiff Hardin LLP.
The U.K.’s minority government pledged new laws on Wednesday to extend compulsory motor coverage to driverless cars and crack down on fraudulent whiplash claims, as Prime Minister Theresa May squeezed major insurance concerns into her pared-back legislative agenda.
One way to combat juror confusion and boredom is to allow jurors to ask witnesses questions, say Stephen Susman, Richard Lorren Jolly and Dr. Roy Futterman of the NYU School of Law Civil Jury Project.
Britain’s financial watchdog will take on responsibility for regulating claims management companies under a law that will be introduced during the next year as part of the legislative agenda announced by the government on Wednesday.
The U.K. Financial Conduct Authority announced plans on Wednesday to make advisers tell retirement savers exactly what benefits they will sacrifice by shifting from a defined benefit to a defined contribution pension scheme.
Bankers, financial advisers and lawyers will be forced to report suspect tax schemes to their national supervisors or risk punitive sanctions under tough new European Union tax transparency rules published by the European Commission on Wednesday.
Manufacturer ITT Corp. delivered opening statements Monday in a California bench trial seeking to put 25 excess insurers on the hook for about $1 billion in asbestos coverage liability, saying coverage is triggered when a claimant first inhales the cancer-causing asbestos fibers.
The New Jersey Supreme Court on Tuesday pressed counsel for Horizon Healthcare Services Inc. to explain why discovery documents should be partially withheld from hospitals suing the insurer over claims that its Omnia Alliance plan leaves them competitively disadvantaged.
A split Sixth Circuit panel found Tuesday that Indian Harbor Insurance does not have to cover former officers of bankrupt Capitol Bancorp from an $18.8 million suit by the liquidation trustee, saying the pre- and post-Chapter 11 bank are the same entity for the purpose of the policy.
After the Texas Supreme Court let an insurance company retry a coverage dispute because an insured's underlying construction defect loss didn't result from a "fully adversarial" trial, policyholders will think twice about striking pretrial deals designed to eliminate their financial stake in litigation, attorneys say.
Cohen Clair Lans Greifer Thorpe & Rottenstreich LLP is said to have renewed its lease for space in New York's Lipstick Building, PGIM Real Estate has reportedly bought a Trader Joe's-anchored Florida shopping center for $49.2 million with financing from New York Life, and Sentinel Real Estate is said to have sold a Brooklyn rental building for $33 million.
Attorneys defending health care providers and insurance companies against medical malpractice suits usually aren't given a choice of which cases to take and often grapple with insurance companies disputing bills or otherwise second-guessing them, prompting some to consider making the switch to the plaintiff's side. Here, one-time defense attorneys who successfully took the leap share four signs it was time for a change.
Manatt Phelps & Phillips LLP said Tuesday it is bolstering its regulatory and government practice with the addition of a former White House counsel for President Bill Clinton and Arnold & Porter Kaye Scholer LLP veteran who’s worked with technology, financial services, insurance, telecommunications and health care companies.
Although enthusiasm abounds, proliferation in the insurtech industry has been slowed by a rusty set of insurance regulations administered on a state-by-state basis. Insurtechs must do their best to navigate these challenges, but there is hope that regulatory change favorable to insurance innovation is on its way, says Heidi Lawson of Mintz Levin Cohn Ferris Glovsky and Popeo PC.
A life insurance salesperson's advice gave rise to no fiduciary duty for customers who called their own shots, the Pennsylvania Supreme Court ruled Tuesday, overturning an appeals court’s decision favoring customers who said the insurance they bought was a con.
A leading insurance trade group announced efforts on Tuesday to protect policies from the upheaval of Brexit, amid concerns that U.K. insurers could soon struggle to provide cover and pay claims across European borders.
The Senate confirmed a key emergency official in President Donald Trump’s administration Tuesday, approving his nominee to lead the Federal Emergency Management Agency.
The former head of Mercer U.K.’s investment consulting business has joined the pensions and investment advisory team at Big Four accountancy firm KPMG LLP, it was announced on Tuesday, as businesses and trustees demand help in dealing with regulatory challenges.
A U.K. High Court judge on Monday dismissed an appeal brought by a car rental company over third-party legal costs it was ordered to pay to insurance company Esure Services Ltd. following a personal injury claim brought by one of its customers.
The macroeconomic environment remains fragile for Europe’s insurers and occupational pensions companies despite signs of improvement in the last six months, the European Union’s top insurance regulator said on Tuesday.