U.S. & EU Economic Sanctions: How Recent Changes in Regulations and Increased Enforcement Impacts the Global Reinsurer
Event | 06.19.12, 12:00 AM UTC - 12:00 AM UTC
Crowell & Moring is pleased to announce this half-day conference for reinsurers that will: (1) provide updates on recent U.S. and European Union economic sanctions laws and regulations; (2) discuss recent enforcement cases targeting (re)insurers; (3) address the extraterritorial reach of U.S. sanctions (including addressing EU blocking statutes and the U.S. sanctions on Cuba); and (4) provide guidance for the global reinsurer on developing a risk-based compliance program to operate within a volatile international economy while leveraging existing resources.
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For more information, please visit these areas: Reinsurance, Insurance / Reinsurance
Insights
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Has the Buss Stopped? Recoupment Today
Has the Buss Stopped? Recoupment Today: In 1997, the California Supreme Court decided Buss v. Superior Court. In Buss, the court concluded that a liability insurer that defended a mixed action could seek reimbursement from the insured for the defense costs associated with the claims that were not even potentially covered. Since then, numerous courts have held that insurers are entitled to recoup their defense costs associated with uncovered claims or causes of action. On the other hand, a significant number of courts have rejected insurers’ right to recoupment, at least in the absence of a policy provision granting the insurer that right. Some commentators have even suggested that the current judicial trend might be away from permitting insurers to recoup their defense costs. Is that correct? Has the Buss stopped? This panel of coverage experts will analyze insurers’ claimed right to recoupment today, and offer their perspectives on what the law on recoupment should perhaps be and might be in the future.
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