Pennsylvania recently enacted two new insurance laws that significantly expand the permissible kinds of value-added products and services that may be provided by insurance licensees in general and the fees that may be charged...more
On October 24, 2018, Pennsylvania CGAD legislation (SB 1205) was signed into law. Pennsylvania now joins 25 other states in enacting a CGAD filing requirement based on the NAIC Corporate Governance Annual Disclosure Model...more
As reported in our October 2017 Alert, on October 3, 2017, the Pennsylvania legislature introduced legislation (HB 1848) to adopt a Pennsylvania-specific version of the NAIC Corporate Governance Annual Disclosure Model Act...more
On October 3, 2017, the Pennsylvania legislature introduced legislation (HB 1848) to adopt a Pennsylvania-specific version of the NAIC Corporate Governance Annual Disclosure Model Act (“CGAD”) that would require insurers to...more
Insurers should be preparing now to comply with a significant new annual filing requirement on corporate governance. Understanding the type and scope of information that must be filed is critical to preparing for this new...more
Pennsylvania insurers should be prepared to comply now with significant new requirements for intercompany agreements – management agreements, service contracts, tax allocation agreements, guarantees and cost-sharing...more
On Friday, October 25, 2013, Governor Corbett signed HB 1481 into law, which adopts provisions of the NAIC’s Own Risk and Solvency Assessment Model Act (ORSA). HB 1481 also gives much needed direction to Pennsylvania insurers...more
Pennsylvania insurers should be aware that proposed changes to Pennsylvania’s Insurance Holding Company regulations impose significant new requirements – especially for management agreements, service contracts, tax allocation...more
With companies soon facing new enterprise risk and corporate governance requirements, this alert discusses whether companies are prepared for state implementation and outlines new NAIC actions relating to conducting an...more
We were delighted to hear from many of you that our recent statewide series of Insurance Company Corporate Governance Workshops with Pennsylvania Deputy Commissioner Stephen Johnson offered valuable information for directors...more