General Business Administrative Agency Insurance

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News & Analysis as of

HUD Advocates Broad “Disparate Impact” Liability for P&C Insurers

In February 2013, the U.S. Department of Housing and Urban Development adopted a “Discriminatory Effects Rule,” which established liability under the Fair Housing Act for conduct that is otherwise lawful, but which has a...more

NTIS Mandates New Requirements to Access the Death Master File

In June, the National Technical Information Service (NTIS) promulgated a final rule setting out the requirements to become certified to access the Death Master File (DMF). The final rule amends the DMF certification program...more

Injunction Enjoining Enforcement of HHS Attestation Rule Affirmed

The Court of Appeals for the District of Columbia affirmed the District Court’s decision in Central United Life v. Burwell on July 1, 2016. This decision is very significant for those assessing the future strength of, and...more

New York Issues Two Advisory Opinions Regarding Surplus Lines Insurance

The New York State Department of Taxation and Finance (Department) issued two advisory opinions determining that unauthorized non-life insurance corporations (here, surplus lines insurance companies) are subject to insurance...more

New York State Denies Taxpayer's Insurance (Deduction) Claim - Tax Update Volume 2016, Issue 1

Captive insurance arrangements, in New York and in certain other states, are often dependent on the federal treatment of the relationship as insurance for federal income tax purposes. A recent New York state...more

Insurance Company Drones May Be Hitting the Skies

Back in March, our Data Privacy + Security Insider blog reported an increase in the use of commercial drones by State Departments of Transportation across the country. Now, insurance companies are also getting in the game....more

CIGA Avoids C&R Lien Obligation At Expense of Co-Defendant

On March 22, 2016, the Second District Court of Appeal, Division One, published its opinion in California Insurance Guarantee Assn. v. Workers’ Comp. Appeals Bd., No. B263869, Cal.App.4th, in which it determined that the WCAB...more

SC Court Says Sales Tax Inapplicable to Cellphone Insurance Premiums

During the last few years, many states have undertaken aggressive efforts to collect sales tax on amounts paid for service contracts a/k/a extended warranties, which in most states are deemed not to be insurance products. A...more

Regulatory Concerns for the Sale of Extended Warranties to Commercial Purchasers

Products sold to commercial purchasers typically include a standard manufacturer’s warranty. Should the manufacturer’s distributor sell an extended warranty at the time of purchase, is that extended warranty considered...more

HUD’s Proposal to Terminate FHA Insurance Policies Could Terminate the FHA Program

If there is anything that galls servicers of government-insured loans, it is the forfeiture or curtailment of all accrued interest from mortgage insurance claims resulting from the failure to foreclose fast enough within...more

Texas Says EPA Administrative Actions under CERCLA Trigger Duty to Defend

As any company facing EPA administrative action under CERCLA knows, the financial risk and defense costs associated with those proceedings can be the same as the risk and costs of an EPA lawsuit under CERCLA. But insurers...more

Excess and Surplus Lines Laws in the United States: Including Direct Procurement Tax Laws and Industrial Insured Exemptions

Preface: States’ Implementation Of NRRA In 2014: The Nonadmitted and Reinsurance Reform Act (“NRRA”) came into effect on July 21, 2011 as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The...more

IVASS measure no. 30 of 24 March 2015 - New rules in the matter of complaints' handling

By order no. 30 of 24 March 2015, IVASS issued new rules regarding insurance undertakings when concerned with compliance of the recently enacted EIOPA guidelines. The new rules have been introduced as amendments to the...more

FIO Director Testifies On The Impact Of International Regulatory Standards On The Competitiveness Of U.S. Insurers

The Director of the Federal Insurance Office (FIO), Michael McRaith, recently testified before the House Financial Services Subcommittee on Housing and Insurance regarding the impact international regulatory standards have on...more

No Investor Harm, No Ill-gotten Gains But SEC Fines Insurer $8 Million

Last week the Commission resolved a proceeding involving a life insurance company centered on the pricing of its variable annuity and variable life insurance products. Specifically, the Order alleged violations of Rule 22c-1...more

Spring Cleaning: Out With the Old, In With the New Pennsylvania Withdraws Endorsement 1010 and Introduces Endorsement 1530

Effective April 1, 2015, the Pennsylvania Department of Insurance (DOI) approved the Title Insurance Rating Bureau of Pennsylvania’s (TIRBOP) filing of Pennsylvania Endorsement 1530, along with the withdrawal of Pennsylvania...more

New duty of disclosure regulations released

The regulation (Insurance Contracts Amendment Regulation 2015 (No. 1) (Cth)) setting out the new recommended wording for notifying customers of their duty of disclosure under s.22 of the Insurance Contract Act 1984 (Cth) came...more

California Insurance Commissioner Lacks Authority to Regulate Formula for Estimating Replacement Cost Value

In Assn. of Cal. Insurance Companies v. Jones ( No. B248622, filed 4/8/15), a California appeals court held that California’s Insurance Commissioner Dave Jones lacked the authority to promulgate California Code of...more

Up, Up, and Away: Insurance Market for Commercial Drones Set to Take Off

Unmanned Aerial Vehicles (UAVs or Drones) have been in the news increasingly over the past decade. While it began, primarily, with the federal government’s use of Drones through the military and federal law enforcement...more

Drone on Drones: FAA Approves Use of Drones By Insurance Companies

The FAA has granted insurer American International Group approval to use drones to conduct inspections in domestic airspace, AIG announced today. AIG intends to use the drones to survey disaster areas, hoping this will lead...more

Harper Review Panel only goes half way for insurers

In its final report released on 31 March 2015, the Competition Policy Review Panel (chaired by Professor Ian Harper) has maintained some of the draft competition policy recommendations that were supported by insurers, but did...more

Recent Developments on Variable Annuity Captive Reinsurance and Hedging Risk Evaluation; and Impacts on VA Issuers

In the midst of the broader discussion within the insurance regulatory community regarding the financial risks potentially posed by captive reinsurers, the National Association of Insurance Commissioners (NAIC) has recently...more

Too Many Changes, More Consultation Required: Comments on Proposed Cooperative Capital Markets Legislation

Comments on the consultation drafts of the uniform provincial capital markets legislation, Provincial Capital Markets Act (PCMA), and new federal capital markets legislation, Capital Markets Stability Act (CMSA),...more

NCOIL Revises Unclaimed Property Model Act

The National Conference of Insurance Legislators (NCOIL) recently adopted an enhanced Model Unclaimed Life Insurance Benefits Act to address particular concerns regarding the Social Security Death Master File (the DMF). The...more

FSOC’s Designation of Nonbank SIFIs: More New Developments

The end-of-year holidays failed to slow the pace of developments surrounding the Financial Stability Oversight Council’s (FSOC) process for designating nonbank Systemically Important Financial Institutions (SIFIs) for Federal...more

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