Insurance Finance & Banking

Read Insurance Law updates, alerts, news, and legal analysis from leading lawyers and law firms:
News & Analysis as of

New York DFS Announces New Proposed Cybersecurity Regulations

On September 13, 2016, the New York State Department of Financial Services (“DFS”) released proposed cybersecurity regulations for financial institutions.1 When the regulations become effective, they will make New York the...more

Recurring Issues in Accounting for Litigation Contingencies

Certain questions seem to recur when it comes to outside counsel’s communications with a company’s auditors about potential exposures as a result of litigation or regulatory/enforcement matters and the underlying accounting...more

FCA Says Big Data Use by Insurers Generally Working Fine—Data Protection Concerns Flagged

The UK’s financial services regulator, the Financial Conduct Authority (FCA), has recently published summaries of the responses it received to a Call for Inputs (CfI) on the use of big data in the retail general insurance...more

Your daily dose of financial news - The Brief – 9.28.16

It wasn’t exactly a direct reaction to his testimony on the Hill, but Wells Fargo CEO John Stumpf didn’t do himself any favors there, and Wells Fargo’s Board has announced that it will claw back an estimated $41 million in...more

Florida Supreme Court Holds that STOLI Challenges are Barred by Two-Year Contestability Clause

On September 22, 2016, the Florida Supreme Court issued an eagerly-awaited opinion in Wells Fargo Bank, N.A. v. Pruco Life Insurance Co. The Court held that Florida's two-year contestability statute applies to bar an...more

Your daily dose of financial news - The Brief – 9.26.16

The Deal Professor weighs in on Yahoo’s announcement last week of the hack of roughly 500 million of its customers’ data and the specter of the MAC (material adverse change) that Verizon may choose to invoke to dance away...more

NY DFS Announces Proposal for Cybersecurity Rules for Financial Services Companies

On September 13, 2016, New York Governor Andrew Cuomo announced a proposal by the New York Department of Financial Services (the DFS) of a rule that establishes cybersecurity requirements for financial services companies...more

Blog: PRA Consultation: Dealing with a market turning event in the general insurance sector

The UK’s Prudential Regulation Authority (PRA) has published a Consultation Paper (CP) “CP32/16 Dealing with a market turning event in the general insurance sector“. The CP attaches a draft Supervisory Statement (SS), which...more

New York Proposes First-in-the-Nation Cybersecurity Regulation for Financial Institutions

On September 13, 2016, the New York Department of Financial Services introduced a new rule that would require banks, insurance companies and other financial institutions regulated by the Department to establish and maintain a...more

European Parliament Votes to Object to PRIIPs Implementing Legislation

The European Parliament voted to object to draft regulatory technical standards (“RTS”) implementing the Packaged Retail and Insurance Investment Products (PRIIPs) Regulation (the “Regulation”) on 14 September 2016. The draft...more

The (Regulated) Rise of the CISO

The proposed New York Department of Financial Services Cybersecurity Requirements for Financial Institutions (the “Regulation”) has many different aspects that are designed to bring about overall improvement in cybersecurity...more

Claim For Fraudulent Wire Transfer Under Commercial Crime Policy Found to be Covered, Although Denial Not In Bad Faith

Principle Solutions Group, LLC, an information technology company, lost $1.717 million when it became the victim of a fraud scheme for which it sought coverage under the terms of a commercial crime policy issued by Ironshore...more

Real Property & Title Insurance Update: Week Ending September 16, 2016

REAL PROPERTY UPDATE - Vacation of Subdivision Plats: boards of county commissioners have limited authority under Fla. Stat. sec. 177.101(3) to grant or deny platted property owner’s request for vacation of plat; if...more

New York Proposes Required Cybersecurity Programs for Financial Institutions

In an unprecedented effort to protect New York State’s financial services industry from cyber threats, Governor Andrew M. Cuomo announced a proposed regulation that requires banks, insurance companies, and other financial...more

What You Must Know about New York’s Proposed Cybersecurity Regulation for the Banking, Insurance, and Financial Services Sectors

Last week, New York’s Department of Financial Services released its long-awaited proposed cybersecurity regulation, which promises to deliver sweeping protections to consumers and financial institutions alike. The proposed...more

The Few. The Responsible. Those who can serve as Fiduciaries for Brokerage Firms.

Most brokerage firms are staying mum about how they intend to meet their requirements under the new fiduciary rule in 2017, but some have tipped their hands and are going to go the approach that I thought they would....more

New York State Proposes New Cybersecurity Regulation

The New York State Department of Financial Services (“DFS”) has proposed a new regulation imposing significant new cybersecurity requirements on banks, insurance companies, and other financial services institutions regulated...more

Washington Answers the Question of Whether Title Companies Owe a Duty of Care to Third Parties…

Last year, the Ninth Circuit certified to the Washington Supreme Court the question of whether title companies owe a duty of care to third parties when they record legal instruments. ...more

Massachusetts AG Settles With Insurance Company Over Allegedly Improper Force-Placed Insurance

On September 7, 2016, the Massachusetts Attorney General announced a settlement with an insurance company requiring “refunds for Massachusetts homeowners whose mortgage lenders wrongly force-placed the consumers with [the...more

Real Property & Title Insurance Update: Weeks Ending September 2 & 9, 2016

REAL PROPERTY UPDATE: Foreclosure/Standing: where copy of note attached to foreclosure complaint contained no endorsement and original note presented at trial had endorsement in favor of plaintiff, plaintiff required to...more

Employers Who Self Administer Life Insurance Plans Had Better Do So Correctly

Many employers self-administer welfare benefit plans such as life insurance or disability insurance plans. This self administration requires the employer to determine eligibility for coverage, remit proper premiums and notify...more

Blog: Solvency II: external audit of the Solvency & Financial Condition Report – PRA made rules

The UK’s Prudential Regulation Authority has published: - a brief Policy Statement: “Solvency II: external audit of the public disclosure requirement – PS24/16“; - a short Supervisory Statement: “SS11/16: Solvency...more

Defalcation is a Dirty Word, But Not the End of the World

The word “defalcation” remains one of the more frightening terms in the title insurers’ lexicon. But with the proper training, preparation, and response, defalcations can be managed, and the title insurers’ exposure...more

What’s New in the Revised Uniform Unclaimed Property Act?

The unclaimed property laws of most states are based in whole or in part on one of the multiple versions of the Uniform Unclaimed Property Act promulgated by the Uniform Law Commission. The Uniform Act was initially...more

Federal District Court Enforces Forum Selection Clause Contained in ERISA Plan

A federal district court in the Eastern District of Pennsylvania transferred an ERISA lawsuit against Caterpillar Inc. to the Northern District of Illinois after finding the forum selection clause contained in the governing...more

1,546 Results
|
View per page
Page: of 62

Follow Insurance Updates on:

JD Supra Readers' Choice 2016 Awards

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×