Insurers have lodged a Judicial Review against The Damages (Asbestos-related conditions) Scotland Act. The Act, which was passed on 17 April 2009, made compensation available for the victims of pleural plaques in Scotland. The insurers are bringing the action in an attempt to avoid having to pay compensation for this condition ...
In August 2009, the Court of Appeal issued a judgment(1) in which it ruled on the foll owing interesting practical issues relating to liability insurance:1) what is the appropriate procedural vehicle for a liability insurer to exercise recourse against another insurer in situations where there is overlapping insurance?2) does the exception respecting members of the household of the insured (article 2474 C.C.Q ...
On 10 November 2008, BAPEPAM-LK issued Regulation X.E.1 concerning the obligation of securities companies to submit periodic reports. This Regulation X.E.1 replaces a regulation issued in 2006 and is basically intended to improve the provisions of the previous regulation, especially on the procedures for submission ...
Decree of the Minister of Finance No. 424/KMK.06/2003 (as amended) which contains the guidelines on the financial condition of insurance and reassurance companies has been further amended by Regulation of the Ministry of Finance No. 158/PMK.010/2008 ...
In May 2008 the government of the Republic of Indonesia issued Government Regulation No. 39 of 2008 regarding the Second Amendment to Government Regulation No. 73 of 1992 regarding Insurance-Related Business Activities (Usaha Perasuransian) in order to anticipate the developing national insurance-related industries, including, among other things, insurance companies (perusahaan asuransi) ...
The Chinese insurance market has grown considerably after China’s accession to the World Trade Organization (WTO) in 2001. For example, China’s annual premium income has increased from 210.9 billion yuan in 2001 to 703.6 billion yuan in 2007 and for the first half of 2008 insurers in China have collected premium income of 561.79 billion yuan which exhibits continuing growth ...
In two separate opinions, five to two majority of the New York Court of Appeals ruled that an insured can assert a claim form consequential damages for an insurer’s alleged bad faith breach of a first-party insurance contract. Bi-Economy Market, Inc. v. Harleysville Insurance Company of New York, No. 14 (N.Y. February 19, 2008); Panasia Estates, Inc. v. Hudson Insurance Company, No. 15 (N.Y. February 19, 2008) ...
1 Framework 1.1 When did Germany first liberalise telecommunications networks and/or services? In 1989 the markets for telecommunications end-user devices, data and value added services, satellite and mobile communications were liberalised. The first mobile communications licence was awarded to a private entity in 1989 (Mannesmann Mobilfunk, now Vodafone) ...
An Illinois intermediate appellate court found that the insured’s failure to comply with the notice conditions in contract for general liability insurance barred coverage. Board of Education of Township High School District No. 211, Cook County, Illinois v. TIG Insurance Company, No. 1-05-1732 (Ill. App. 3d Div. December 26, 2007). The Board of Education of Township High School District No ...
On September 27, 2007, Mr. Justice Jean-Guy Dubois of the Superior Court rendered a judgment interpreting the definition of the word “insured” in an insurance policy, more particularly as regards the exclusion of damages caused to a [Translation] “person living under the same roof ”.(1)The facts: The parents of plaintiff Hugo Bérard divorced in 2000. Nathalie Gravel, his mother, who was also a plaintiff, had custody ...
A Georgia intermediate appellate court has affirmed summary judgment in favor of an insurer, holding that there can be no “advertising injury” coverage under a commercial general liability insurance contract where an underlying lawsuit concerning division of profits from a joint copyright work fails to allege a misappropriation of advertising ideas. James C. Shafe, et al. v. American States Insurance Co., No. A07A0879, 2007 Ga. App. LEXIS 1193 (Ga. App ...
Austria has approximately 140 insurance companies (including 52 Austrian insurance companies, 59 Austrian small mutual associations, and 25 branches of EU/EEA-insurers). The Austrian Financial Market Authority (Finanzmarktaufsichtsbehörde – "FMA"), which supervises the sector, provides a list of insurance undertakings containing all insurance companies authorized to conduct insurance business in Austria plus all insurance classes that the respective companies hold a licence for ...
On August 16, 2007, the Court of Appeal issued a judgment, written by Mr. Justice Paul-André Gendreau, pertaining to the absence of an initial disclosure of risk to the new insurer in the context of the transfer of an insurance portfolio by a broker.(1) An insurer who accepts the transfer of a policy without ascertaining its current exposure to risk, is deemed to have waived his right to this information ...
The Texas Supreme Court ruled that a primary insurer has no actionable right of contribution or subrogation against a co-primary insurer that declined to settle on terms agreed to by the first primary carrier. Mid-Continent Insurance Company v. Liberty Mutual Insurance Company, No. 05-0261 (Tex. October 12, 2007) ...
The U.S. District Court for the Middle District of Louisiana held that "actions of civil authority" that do not prohibit access to an insured’s premises do not trigger civil authority coverage under a first-party policy. Kean, Miller, Hawthorne, D’Armond, McCowan & Jarman, LLP v. National Fire Ins. Co. of Hartford, No. 06-770-C, 2007 U.S. Dist. LEXIS 64208 (M.D.La. Aug ...
In Castillo v. State Farm Florida Insurance Co., No. 3D06-2874 (Fla. Dist. Ct. App. Oct. 17, 2007), the Court of Appeal of Florida, Third District, reversed a decision granting summary judgment in favor of an insurer, finding issues of fact about whether earth movement, an excluded peril under a homeowners’ insurance policy, played a part in a dwelling’s damage from nearby blasting ...
In its judgment in Bourcier v. La Citadelle(1) rendered on September 4, 2007, the Court of Appeal confirmed that the insured accident victim must inform the insurer no later than one year following the date of the accident, in accordance with Article 2435 C.C.Q. Failure to do so results in forfeiture of the right to the benefit provided for in the accident insurance policy.The factsMs. Bourcier was the victim of a serious motorcycle accident on September 11, 2001 ...
On September 26, 2007, the Court of Appeal dismissed the appeal of appellant Citizens for a Quality of Life(1) (“CQL”) and upheld the judgment of the Superior Court(2) dated December 14, 2004, which had refused to grant its motion for authorization to institute a class action against Aéroports de Montréal (“ADM”) on the basis of the lack of similar or related questions raised by the recourses of the class members ...
The highest court in Massachusetts held in Allmerica Financial Corp. v. Certain Underwriters at Lloyd’s London, 449 Mass. 621, 2007 Mass. LEXIS 519 (Aug. 6, 2007), that a “follow form” excess insurer is not obligated to fund a settlement negotiated by the primary insurer ...
The United States Court of Appeals for the Fourth Circuit, applying North Carolina law, held that a liability insurer may properly withdraw from the defense of its policyholder after obtaining a judicial declaration of no coverage, despite the policyholder’s pending appeal, provided the insurer offers to continue defending if the policyholder wins a stay of the trial court’s decision. Auto-Owners Ins. Co. v. Potter et al ...
The main characteristic of Third Generation services (3G) is to permit voice, data and image transmissions at substantially higher speeds than traditional technologies (like 2G and 2.5G). This capability makes 3G the appropriate standard for mobile multimedia applications and wireless broadband data transmissions, allowing subscribers to be connected without interruption to the mobile web ...
An Illinois federal district court held, in Massachusetts Bay Ins. Co. v. Faber Bros., Inc., No. 04 C 5160, 2007 WL 1029366 (N.D. Ill. March 30, 2007), that a distributor of firearms is not covered under general liability insurance contracts for claims alleging that its sales of firearms created a public nuisance that led to bodily injuries. Factual BackgroundThe insured, Faber Bros., Inc., is a distributor and wholesaler of firearms ...
