AIRROC Update

Insurance & Reinsurance News

Regulatory

The Hartford completes major sale

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It’s a done deal for Premia Holdings and The Hartford, after the latter’s sale of Navigators Holdings (Europe) NV and its subsidiaries secured the required approvals from the National Bank of Belgium and the Commissariat Aux Assurances in Luxemburg. The acquired business, subsidiaries of which include Antwerp-headquartered property and casualty insurer Assurances … [Read more...] about The Hartford completes major sale

New York Now Requires Defendants To Provide Automatic Early Disclosure of Insurance Information

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Defendants in New York are now required to automatically disclose expansive insurance information at the beginning of a lawsuit. Beyond just providing evidence of an insurance policy, the new version of the discovery rule CPLR 3101(f) now requires disclosures such as the contact information of an insurer’s claim adjuster and information about whether attorney’s fees have eroded … [Read more...] about New York Now Requires Defendants To Provide Automatic Early Disclosure of Insurance Information

The Excepted Foreign State Club Gets Bigger

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The Foreign Investment Risk Review Modernization Act (FIRRMA) gave the Committee on Foreign Investment in the United States (CFIUS) enhanced powers in August 2018.   Some reviews of foreign investments were mandated – especially investments in sensitive businesses by foreign governments and government-controlled entities.  For the first time, FIRRMA expressly authorized review … [Read more...] about The Excepted Foreign State Club Gets Bigger

What Goes Around Comes Around

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In 1990, the Second Circuit in Bellefonte Reinsurance Co. v. Aetna Casualty & Surety Co., 903 F.2d ‎‎910 (2d Cir. 1990), affirmed a District Court judgment that reinsurers were not obligated to pay ‎additional sums for defense costs over and above the limits of liability specified in a facultative ‎reinsurance certificate. Since then, the Bellefonte rule acted as a de … [Read more...] about What Goes Around Comes Around

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