Alice T. Kane

Alice T. Kane

Duane Morris LLP

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Report to NAIC on Captives: The Controversy About Principle-Based Reserves and Captives Continues

The use by life insurance companies of captive reinsurance companies to finance XXX and AXXX reserves has been a significant and contentious issue in recent years. Some members of the National Association of Insurance...more

3/27/2014 - Captive Insurance Company Life Insurance NAIC Reinsurance

Group-Wide Global Insurance Capital Standards First Step - Basic Capital Mandate for G-SIIs

As the first step in the development of group-wide global insurance capital standards, the International Association of Insurance Supervisors (IAIS) released for public consultation its proposal on basic capital requirements...more

12/31/2013 - Capital Requirements G-SII Insurers International Association of Insurance Supervisors

The Development of Global Capital Standards for IAIGs and G-SIIs: Notes from IAIS Meeting on November 13, 2013

Backstop Capital Requirements, Higher Loss Absorption, Global Insurance Capital Standards: What Applies to Whom and When? In July 2013, the Financial Stability Board (FSB) designated nine insurance groups as global...more

11/26/2013 - FSB G-SII Insurers

First Ever: Global Capital Standards for Insurers

On October 9, 2013, the International Association of Insurance Supervisors (IAIS) took a significant step toward developing a first-ever risk-based global insurance capital standard (ICS). The target date for development of...more

10/14/2013 - Capital Requirements Insurers

Insurance Regulatory Update - Holding Company Supervision, Designation of Prudential Financial as Being "Too Big to Fail,"...

The National Association of Insurance Commissioners ("NAIC") 2013 Summer National Meeting, which was held in late August, saw a continuation of the debate over major insurance regulatory reforms. The first of these reforms...more

9/24/2013 - AIG Bank Holding Company FSB FSOC NAIC Prudential Supervision Too Big to Fail U.S. Treasury

Financial Stability Board Designates Nine Global Insurance Groups as "Global Systemically Important Insurers"

The Financial Stability Board (FSB), tasked by the G-20 to prevent a future financial crisis, on July 18, 2013, designated nine large insurance groups as Global Systemically Important Insurers (G-SIIs), three from the United...more

8/5/2013 - Financial Stability Acts G-SII Insurers Too Big to Fail U.S. Treasury

Principle-Based Reserves & SPVs: Regulatory Developments

In a Duane Morris Alert dated December 7, 2012, we addressed developments at the fall meeting of the National Association of Insurance Commissioners (NAIC) relating to principle-based reserves (PBR) and the draft White Paper...more

3/21/2013 - Federal Insurance Office NAIC Principle-Based Reserves Special Purpose Vehicles

HHS Issues Final Rules on Essential Health Benefits, Federal and Partnership Exchange Qualified Health Plan Accreditation Timeline...

Essential Health Benefits - On February 20, 2013, the U.S. Department of Health and Human Services (HHS) issued a final rule that set the accreditation standards for qualified health plans (QHPs)—plans that will be...more

3/7/2013 - Actuarial Values Affordable Care Act Essential Health Benefits Healthcare HHS Qualified Health Plans

Multi-State Health Insurance Plan Regulations Further Boost Federal Role in Individual and Small Group Insurance Exchanges

Since the passage of the Affordable Care Act (ACA or the "Act"), public attention has principally focused on the constitutionality of the Act and the broad parameters of how the U.S. Secretary of Health and Human Services...more

12/13/2012 - Affordable Care Act FEHBA Health Insurance Exchanges HHS

Controversy Over Principles-Based Reserves & SPVs - Report from the NAIC Fall Meeting

The Fall Meeting of the National Association of the Insurance Commissioners (NAIC) generated some controversy on two topics. First, regulators addressed a major change for life insurers—how reserves for many products will be...more

12/7/2012 - Life Insurance National Association of Insurance Commissioners

HHS Begins Releasing Long-awaited Affordable Care Act Proposed Rules

The U.S. Department of Health and Human Services ("HHS") issued three proposed regulations on November 20, 2012 (collectively, the "Regulations") on the Patient Protection and Affordable Care Act (the "ACA"). These proposed...more

11/28/2012 - HHS

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