Category Archives: Insurance

NCOIL to Consider Resolution Asserting McCarran-Ferguson Reverse Preemption over the Supervision of Insurance

When the National Council of Insurance Legislators (“NCOIL”) holds its Annual Meeting in Oklahoma City later this week, it will consider a proposed resolution entitled the “Resolution Asserting McCarran-Ferguson Reverse Preemption over the Supervision of Insurance Companies by the Federal Reserve Board and its Examiners” (“Proposed Resolution”). The Proposed Resolution is in response to concerns that the Federal Reserve may subjecting carriers to the kind of regulation that is reserved for state insurance regulators under the McCarran-Ferguson Act. The Proposed Resolution encourages Congress to provide oversight, perhaps including legislation, to ensure that the Federal Reserve Board’s supervisory activities concerning insurance companies do not impede the province of state insurance regulators. The Proposed Resolution is the latest in a growing chorus of expressions from the industry about potential overreach by the Federal Reserve….. To continue reading this legal news please click Read full information...

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Department of Justice Eases “Yates Memo” Requirements for Cooperation Credit

One of the important questions about U.S. Department of Justice’s approach following the change of Presidential Administration two years ago was whether DOJ would continue  emphasizing its policy of individual accountability in the agency’s 2015 statement known as the Yates Memo. In a recent speech, Deputy Attorney General Rod J. Rosenstein announced changes to the policy. The changes, which are more in the form of an adjustment rather than a wholesale change, makes it clear that companies seeking cooperation credit no longer need to identify “all” individuals involved in the wrongdoing, so long as the companies identify those who were “substantially involved” in the misconduct. The text of Rosenstein’s November 29, 2018 speech to the American Conference Institute’s International Conference on the Foreign Corrupt Practices Act, at which he announced the changes, can be found here.   The changes Rosenstein announced….. To continue reading this legal news please click Read full information...

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A Successful Settlement for a Backache Claim Denied

As we get older, many of us struggle with some sort of back pain. Our jobs often require us to sit or stand for long periods of time, and our busy lifestyles can make it difficult to find time to exercise . Muscle agitation in the back is common for so many people, and for […] The post A Successful Settlement for a Backache Claim Denied appeared first on ShareLawyers... To continue reading this legal news please click Read full information...

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FDA Awards Six-Month Patent Extension for Lyrica

You may recall our earlier blog this week about Lyrica in the News.  Once again, the spotlight is on Lyrica.  First, after Pfizer was awarded a six-month patent extension based on a new pediatric indication for the drug.  Earlier this month, the Supreme Court in the United Kingdom ruled against Pfizer in a longstanding patent litigation involving Lyrica.  As a result of the ruling, the National Health Service in the United Kingdom will likely seek recoupment for overpayments it made for brand name Lyrica instead of lower priced generic equivalents.  Shortly after news broke of the court’s ruling in the United Kingdom, Pfizer announced a nine percent price increase for Lyrica which will take effect in the United States on January 15, 2019. And now this week, there is another piece of news regarding Lyrica. On Tuesday, the Food and Drug Administration awarded Pfizer a six-month patent extension for Lyrica based upon results of phase III clinical….. To continue reading this legal news please click Read full information...

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New York Appellate Court Permits Use of Extrinsic Facts to “Clarify Ambiguous Pleadings” and Establish the Applicability of a Policy’s Auto Exclusion

On October 23, 2018, our Global Insurance Services group hosted an interactive webinar discussing states’ varying interpretations of what is considered “loading and unloading” in the context of a liability policy’s “Aircraft, Auto or Watercraft” exclusion. During that presentation, we identified inconsistencies in the courts’ application of this provision when assessing an insurer’s duty to defend, particularly in New York. Ironically, that same day, a New York Appellate Court analyzing the application of a the “Aircraft, Auto or Watercraft” exclusion relied on facts extrinsic to the allegations in the underlying complaint to permit a liability insurer to avoid its duty to defend, which is something New York courts typically do not permit. In Zurich American Ins. Co. v. ACE American Ins. Co., 2018 N.Y. Slip. Op. 07074 (1st Dept. 2018), the New York State Supreme Court, Appellate Division, First Department, was tasked….. To continue reading this legal news please click Read full information...

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