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Ceres and a Series of Serious Thoughts About the NAIC Climate Disclosures - Part III

By J. Wylie Donald, Partner, McCarter & English This is the last of three parts concerning Ceres' recently released Climate Risk Disclosures by Insurers: Evaluating Insurer Responses to the NAIC Climate Disclosure Survey . We already have looked at the first two Recommendations to Regulators...

Ceres and a Series of Serious Thoughts About the NAIC Climate Disclosures - A Three Part Series

Ceres released last month the first analysis of the insurer climate change disclosures submitted to state regulators pursuant to the National Association of Insurance Commissioners rule. The report is eye-opening. The authors have combed through the disclosures of 88 insurance companies and offer thoughtful...

Indiana Supreme Court Slams The Flexdar Shut On Any Chance To Change Kiger

By Randy J. Maniloff, White and Williams, LLP Hoosier State Remains The Toughest In The Country For Insurers And The Pollution Exclusion The Most Eagerly Anticipated Coverage Decision In The Nation This is the third issue in a row of Binding Authority to address the Pollution Exclusion. A three...

Free Zalma’s Insurance Fraud Letter May 1, 2012

By Barry Zalma, Attorney and Consultant In this, the ninth issue of the 16th year of publication Zalma's Insurance Fraud Letter (ZIFL), ZIFL reports on: 1. Barry Zalma reports on an interesting appellate decision that convicted a person for failing to advise his insurer that he intentionally...

New Bill Proposes to Exclude Private Carriers from DBA Insurance Market

By John E. Kawczynski, Field, Womack & Kawczynski, LLC, South Amboy, New Jersey Congressman Elijah E. Cummings (D-MD), the Ranking Member of the House Oversight and Government Reform Committee, has introduced the “Defense Base Act Insurance Improvement Act of 2012” (H.R. 5891) which...

Insurance Commissioner Expands Reach of Climate Change Survey: Doubles Number of Insurers Required to Respond

California Insurance Commissioner Dave Jones has announced that the Connecticut and Minnesota Departments of Insurance have joined with California, New York and Washington Departments of Insurance to require insurers to respond to the Climate Risk Survey adopted in 2009 by the National Association of...

California Announces Death Master settlement with ING

Conduct exam of a second insurer finds MassMutual using Death Master Database properly Insurance Commissioner Dave Jones has announced that the California Department of Insurance has, with other state insurance regulators, reached a settlement agreement with ING over the insurer’s use of...

General Principles and Introductory Matters Concerning Insurer Insolvency and Bankruptcy – New Appleman on Insurance Law Library Edition, Chapter 96

LexisNexis is publishing a new volume of our authoritative treatise on the nation’s insurance law, the New Appleman on Insurance Library Edition . It is entitled “Insolvency and Bankruptcy.” Comprehensive new Volume 9 is solely devoted to insurer as well as policyholder insolvency...

Regulation Of Insolvency – New Appleman on Insurance Law Library Edition, Chapter 98

By Kristen J. Brown Abstract * * * This chapter examines the powers and remedial options afforded to state insurance commissioners for their regulation of insurance company insolvency. State laws arm insurance commissioners with broad intervention powers and various degrees of intervention options...

Insurance Commissioner Announces Death Master settlement with Aegon

Insurance Commissioner Dave Jones announced today that the California Department of Insurance has, with other state insurance regulators, reached a settlement agreement with Aegon over the insurer's use of the Social Security Administration's Death Master File database to ensure policyholders...

U.S. Regulation of the Solvency and Insolvency of Alien Multi-National Insurers – New Appleman on Insurance Law Library Edition, Chapter 103

By Richard G. Liskov and John J. Sarchio Abstract * * * This chapter discusses the regulation of alien multi-national insurers—insurers domiciled outside the United States but operating in U.S. insurance markets. The chapter begins with an overview in Section 103.01 of such insurers...

Case Studies of Insurer Insolvencies – New Appleman on Insurance Law Library Edition, Chapter 104

By Patrick H. Cantilo, Mark F. Bennett, and Arati Bhattacharya Abstract *** In this chapter, five insurance insolvencies are discussed in detail to illustrate a number of the issues that are presented in the management of troubled insurers. The companies discussed are the Legion Insurance...

Bankruptcy and Insurance – New Appleman on Insurance Law Library Edition, Chapter 107

By Susan N. K. Gummow and Eric J. Shukis Abstract *** The filing of bankruptcy impacts the debtor-insured, its insurers, and parties asserting claims that may implicate the debtor’s insurance policies. Chapter 107 introduces some of the basic elements and concepts of bankruptcy law...

Maryland Defendants Can Recover Attorneys' Fees Paid by Insurance Company

by Robert A. Scott Litigants that have been forced to defend groundless litigation are entitled to recover their attorneys' fees even if those costs were paid by an insurance company, Maryland's highest court has ruled. In Worsham v. Greenfield [ enhanced version available to lexis.com...

Goldberg Segalla LLP on The Rise and Implications of the Chinese Insurance Industry

By Daniel W. Gerber and Richard J. Ahn, Attorneys, Goldberg Segalla LLP The U.S. insurance industry has undergone significant change which has yet to become fully evolved. In fact, only recently has the Federal Insurance Office issued its report on “How to Modernize and Improve the System...

New York Market Conduct Examinations

LexisNexis is pleased to announce the addition of New York materials to our collection of Market Conduct Examination Reports ( lexis.com subscribers click here ). Market Conduct Examinations focus on the business practices of insurers and are designed to monitor marketing, advertising, policyholder services...

Community Development Investment Policies of California’s Largest Insurers Now Available For Downloading

California Insurance Commissioner Dave Jones has announced that the community investment policies of the top 206 insurance companies are now available on the California Department of Insurance website. “I encourage those seeking investments in underserved communities to review these investment...

5th Circuit Addresses Excess Insurer’s Bad Faith Claim Against Primary

Tapas: Small Dishes of Insurance Coverage News & Notes RSUI Indem. Co. v. American States Ins. Co., No. 14–30033 (5th Cir. Sept. 25, 2014), [ enhanced version available to lexis.com subscribers ], (addressing Louisiana law) (“We hold only that under the circumstances of this case...

The Profitability of the Workers' Compensation Insurance Industry

John Burton's Workers' Compensation Resources Research Report analyzes the latest A.M. Best report As explained in the November 2014 issue of Workers' Compensation Resources Research Report (WCRRR), the operating ratio is the "most comprehensive measure of underwriting results because...

Ten Most Significant Insurance Coverage Decisions Of 2014 – Excess Insurers’ Chins Should Drop Down

A case involving an excess insurer’s obligation to drop down wouldn’t seem to be the stuff of one of the year’s ten most significant. In general, drop down provisions in excess or umbrella policies are often-times unique and the decisions dictated by such language. So no matter how...

Court Provides A Clinic In Sometimes Overlooked Coverage Issue

When an insurance company is evaluating whether to file a declaratory judgment action or defend one filed against it, the principal issues under consideration are likely to be its chance of success and the amount of attorney’s fees that it will incur to achieve the desired result. But there is...

Worksite Wellness Programs: Why Workers’ Comp Insurers and Small Businesses Should Team Up

By Robin E. Kobayashi, J.D., LexisNexis Legal & Professional Operations Small businesses employ 56 percent of the U.S. workforce. They get pounded each year with the high costs of doing business, and they often lack the financial resources, staffing, expertise, management buy-in, or motivation...

Highlights from the NAIC Spring Annual Meeting on PBR and Captive Insurance Companies

Beginning in 2013, we have issued a series of Alerts on the controversy regarding the use of captive insurance companies to finance reserves for certain type of life insurance policies (so-called "XXX or AXXX reserves," which are widely believed to exceed reserves that are actually needed to...

Insurance Drones: The Headline That Should Have Many Of Us Up In Arms

Everywhere you turn these days the talk is drones, drones, drones. They supposedly have a million and one uses, including, we’re told, by Amazon for the delivery of packages. I’m dubious that Amazon will ever be dropping books from the sky onto my front porch. The awesome guy who delivers...

The Limited Reach Of Pre-Answer Security Requirements For Unauthorized Insurers

By Thomas F. Bush When an insurer is sued in a state where it is not authorized to conduct its insurance business, it frequently faces an immediate demand from its opponent to post a bond or other security with the court in the full amount of the opponent's claim. More than 40 states have enacted...