583 results found

As of March 11, the Securities Valuation Office of the National Association of Insurance Commissioners (NAIC) has removed Silicon Valley Bank (SVB) from the list of approved banks ("qualified U.S. financial institutions,"

Odyssey Reinsurance Company ("Odyssey") has obtained an order compelling John Scannell to produce subpoenaed documents related to Odyssey's efforts to collect a $3.2 million...

The Queen's Bench Division of the U.K.'s High Court of Justice recently approved a scheme proposed by Scottish Equitable Plc to transfer its liabilities as to over 185,000 insurance policies...

The Covered Agreement has been approved by the E.U. Council, although the European Parliament may be asked to approve it as well.

The New Hampshire liquidation court approved the commutation, settlement, and release agreement between The Home Insurance Company (liquidating) and Pennsylvania Manufacturers Association Insurance Company.

The New Hampshire liquidation court approved the commutation, settlement, and release agreement between The Home Insurance Company (liquidating) and OIC Run-Off Limited (formerly known as The Orion Insurance Company) (OIC) and The London Overseas Insurance Company Limited (formerly known as The London and Overseas Insurance Company Plc) (L&O).

West Virginia House Bill 4230, approved by Governor Justice on March 27, amends the statutory requirements relating to when an insurer may claim credit for reinsurance to conform to the NAIC model law.

Reuters reported that "Lloyd's of London wants all insurance and reinsurance policies to clearly state whether coverage will be provided for losses caused by a cyber attack

New regulations relating to credit for reinsurance and term and universal life insurance reserve financing took effect in Wyoming on November 30, 2017.

The background of this case is as follows. Lift Equipment Certification Co., a heavy equipment manufacturer, was contracted by Lawrence Leasing Corp., a shipping company to redesign one of Lawrence's cranes.

The FSB issued a consultation paper on recovery and resolution planning for Systemically Important Insurers and guidance on the identification of critical functions and critical shared services SIIs.

As climate change and extreme weather events continue to intensify, areas like California, Florida, the Gulf Coast, and Atlantic states will most likely continue to see increasing insurance premiums, especially in wildfire-prone regions like Los Angeles.

Alabama Municipal Insurance Corp. ("AMIC"), an Alabama non-profit public insurer, brought suit in Alabama federal court against Munich Reinsurance America Inc. ("Munich Re"), alleging breach of a reinsurance contract for failing to fully reimburse a settlement of flood claims asserted against an insured city.

In 1986, Pine Top Insurance Company became insolvent and was placed into liquidation.

In this class action lawsuit in a California federal court, Shasta Linen Company and all those similarly situated brought an action against Applied Underwriters, Inc. and its affiliate entities.

The appellant (Guarantee Trust) had forwarded reinsurance premiums to the reinsurer to be held in a custodial account for the payment of claims.

MetLife acquired the rights to a fixed investment option contract with Midco, a trust established to administer a retirement plan for the employees of Midco International, Inc. Midco plan participants received interest each year pursuant to a "declared rate" which would be determined at MetLife's discretion "from time to time."

The case concerned two purchase orders whereby defendant BJB LLC dba Agri Trading (Agri Trading) agreed to purchase corn oil from plaintiff Hardy Industrial Technologies, Inc. (Hardy).