News & Analysis as of

Life Insurance NAIC

Eversheds Sutherland (US) LLP

Highlights from the NAIC Summer 2024 National Meeting

In our recent webinar, members of the Eversheds Sutherland Insurance Practice Group discussed noteworthy developments from the National Association of Insurance Commissioners (NAIC) Summer National Meeting that was held in...more

Locke Lord LLP

NAIC Privacy Protections Working Group Takes First Step on Its New Path ‎Forward

Locke Lord LLP on

The Privacy Protections (H) Working Group of the National Association of Insurance Commissioners (“NAIC”) met on Wednesday June 12, 2024, to consider which proposed path forward to pursue as it considers a new NAIC privacy...more

Carlton Fields

Expect Focus - Volume II, May 2024

Carlton Fields on

Last Lap in SEC RILA Rulemaking Critical Unresolved Issues - Congress directed the SEC to adopt a new registration statement for registered indexed annuities (RILAs) by the end of June. Several months ago, the SEC...more

Carlton Fields

NAIC Groups Carve Up the Mountain at the Winter Meeting

Carlton Fields on

After strapping on their skis and riding up the lifts, the NAIC groups reported to their events. The results of the events of note for life insurers are as follows...more

Carlton Fields

Racing Ahead: Privacy, Cybersecurity, and AI Heats for the Life Insurance Industry

Carlton Fields on

Drivers, start your engines. It has been months of high speed for privacy, cybersecurity, and artificial intelligence....more

Eversheds Sutherland (US) LLP

NYDFS proposes reinsurance amendments to remain compliant with NAIC accreditation standards and modify reciprocal jurisdiction...

On April 24, 2024, the New York State Department of Financial Services (NYDFS) published Proposed Rule Making for the 13th Amendment to Insurance Regulation 17, 20 and 20-A (Proposed Amendment), which purports to implement...more

Locke Lord LLP

NAIC Model Bulletin on the Use of AI Systems by Insurers Adopted in Eight States

Locke Lord LLP on

Nevada has adopted the NAIC Model Bulletin on the Use of AI Systems by Insurers along with seven other states, including Alaska, Connecticut, Illinois, New Hampshire, Nevada, Rhode Island and Vermont....more

Carlton Fields

NAIC H Committee Continues as Ringmaster Coordinating Numerous Initiatives

Carlton Fields on

Under the leadership of Maryland Insurance Commissioner Kathleen Birrane, in 2023 the Innovation, Cybersecurity, and Technology (H) Committee of the National Association of Insurance Commissioners completed two main...more

Locke Lord LLP

Artificial Intelligence Regulation in the ‎Insurance Industry – 2023 a Year in Review

Locke Lord LLP on

2023 has been a very productive year for regulators advancing their efforts to understand new technologies and consider whether and how to regulate the rapidly developing technologies, including artificial intelligence,...more

Paul Hastings LLP

An Eye on Insurance: Recent Developments in Insurance Regulation

Paul Hastings LLP on

The last months of 2023 capped off another major year for insurance regulation, with state insurance regulators and the National Association of Insurance Commissioners undertaking a number of initiatives that will affect the...more

Bressler, Amery & Ross, P.C.

State Regulation of Annuity Suitability and the Best Interests

Suitability in the sale of annuity products has been a topic of state regulation since at least 2003 - well before the federal focus on “Best Interest.” State insurance regulators have overseen the sale of annuities to ensure...more

BCLP

The Future of Insurance - Colorado’s New ECDIS and AI Model Regulations

BCLP on

On September 21, 2023, the Colorado Division of Insurance adopted a Final Regulation implementing S.B. 21-169, the 2021 law governing Colorado-licensed insurers’ use of external consumer data and information sources (ECDIS),...more

Carlton Fields

Expect Focus - Volume III, September 2023

Carlton Fields on

Regulators Hit Jackpot: Off-Channel Communications - Several years before announcing the first “off-channel” communications enforcement action, the SEC and FINRA cautioned broker-dealers and investment advisers about...more

Carlton Fields

NAIC Innovation, Cybersecurity, and Technology (H) Committee Gets in on the Action

Carlton Fields on

On July 17, the Innovation, Cybersecurity, and Technology (H) Committee of the National Association of Insurance Commissioners released its exposure draft of the NAIC’s model bulletin on insurers’ use of algorithms,...more

Pietragallo Gordon Alfano Bosick & Raspanti,...

Competing Duties Of A Life Insurance Agent: The Potential For A Conflict Of Interest In The Sale Of Life Insurance Policies And...

The legal and regulatory scheme is set up in favor of life insurance companies to the detriment of the agents and customers. The imbalance of duties imposed upon a life insurance agent in the sale of life insurance policies...more

Faegre Drinker Biddle & Reath LLP

2023 NFI Insurance Public Policy Summit Highlights “Balancing Act”

The “balancing act” of insurance regulation across jurisdictions, policymakers, and stakeholders took center stage at the 18th Annual Networks Financial Institute Insurance Public Policy Summit on May 17 in Washington D.C....more

Carlton Fields

Opening Day: Regulators Showcase Big Data Initiatives at NAIC Spring Meeting

Carlton Fields on

Few things thrill baseball fans more than opening day. They come with a mix of excitement and trepidation. For many of them, it’s the first day they get to see their favorite team showcase its talents, and their first glimpse...more

Eversheds Sutherland (US) LLP

NAIC Report - 2023 Spring National Meeting

The National Association of Insurance Commissioners (NAIC) held its 2023 Spring National Meeting March 21-25 in Louisville, Kentucky. The agenda for this National Meeting was limited, with a number of NAIC working groups...more

Eversheds Sutherland (US) LLP

NY Governor’s budget includes proposal to expand Life Insurance Company Guaranty Corporation to health insurance

New York Senate Bill 4007 and Assembly Bill 3007, which represent Governor Kathy Hochul’s state budget proposal, include provisions to amend Article 77 of the New York Insurance Law, the Life Insurance Company Guaranty...more

Eversheds Sutherland (US) LLP

NAIC Life and Annuities (A) Committee adopts amendments to Actuarial Guideline 49-A

On February 24th, the NAIC Life Insurance and Annuity (A) Committee (A Committee) adopted amendments to Actuarial Guideline (AG) 49-A to address a concern raised by state insurance regulators regarding the use of...more

Carlton Fields

Regulators Gearing Up to Monitor Accelerated Underwriting Programs

Carlton Fields on

Following completion of its 2022 educational paper, the NAIC’s Accelerated Underwriting (A) Working Group (AUWG) moved to the second part of their charge — draft guidance for the states. During their call on February 22, the...more

Kramer Levin Naftalis & Frankel LLP

NAIC Announces 2023 Priorities

The National Association of Insurance Commissioners (NAIC) recently announced its regulatory priorities for 2023. Insurers should consider the extent to which these matters impact them and the prospect that insurance...more

Eversheds Sutherland (US) LLP

NAIC Report - 2022 Fall National Meeting

The National Association of Insurance Commissioners (NAIC) held its 2022 Fall National Meeting from December 12-16 in Tampa, Florida. The agenda for this National Meeting was limited, with a number of NAIC working groups...more

Kramer Levin Naftalis & Frankel LLP

NAIC Group Updates Financial Analysis Tools

A National Association of Insurance Commissioners (NAIC) working group adopted changes to the NAIC’s Financial Analysis Handbook (Handbook) capturing a number of current topics affecting insurers. Insurers should consider the...more

Eversheds Sutherland (US) LLP

NAIC Indexed Universal Life Illustration Subgroup solicits comment on options to revise Actuarial Guideline 49-A and to open NAIC...

On October 12th, the NAIC Life Insurance and Annuity (A) Committee’s Indexed Universal Life (IUL) Illustration (A) Subgroup (IUL Subgroup) exposed for comment four options to amend Actuarial Guideline (AG) 49-A to address a...more

135 Results
 / 
View per page
Page: of 6

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