NAIC

News & Analysis as of

"Cadillac" Healthcare Tax Delayed to 2020

The so-called "Cadillac Tax" on certain high-cost healthcare plans that was scheduled to take effect in 2018 has been delayed until January 1, 2020. This legislative change, which is part of the Consolidated Appropriations...more

Washington Adopts New Rules Regarding Credit For Reinsurance

The Office of the Insurance Commissioner for Washington State recently adopted rules that amend the existing Credit for Reinsurance rules within the state. In addition, that office adopted new rules to conform Washington’s...more

Women-Owned Small Businesses Can Now be Awarded Sole Source Federal Contracts

Effective December 31, 2015, contracting officers can make sole source awards to Women-Owned Small Businesses (WOSBs) and Economically Disadvantaged Women-Owned Small Businesses (EDWOSBs). See FAR 19.1506. ...more

Proposed Regulations Adopting NAIC’s Internal Audit Function Requirements Announced

Large insurers should be preparing now to comply with proposed regulations that adopt the NAIC’s internal audit function requirements. The internal audit function is designed to provide independent, objective and reasonable...more

IREG Update - FHFA cuts off FHLB access to captives

FHFA cuts off FHLB access to captives - After considering input received in more than 1,300 comment letters submitted in response to a proposed rule issued in 2014, the Federal Housing Finance Agency (FHFA) issued its...more

Price Optimization: 2015 Year in Review and a Look Ahead

2015 saw approximately one-third of U.S. states join the first state, Maryland, in issuing guidance to property and casualty insurers with respect to price optimization; action by the National Association of Insurance...more

National Association of Registered Agents and Brokers Gets its First Board Nominees

On January 12, 2015, as part of H.R.26 (the Terrorism Risk Insurance Program Reauthorization Act of 2015), legislation authorizing the formation of the National Association of Registered Agents and Brokers (NARAB) became law....more

IREG Update - Price optimization

Price optimization update - Background - In June 2015, we reported that while four states had issued formal bulletins and memoranda prohibiting the practice of price optimization by property and casualty insurers,...more

NAIC Evaluates Insurer’s Use of Variable Annuity Captives, Price Optimization, and Big Data

At the National Association of Insurance Commissioners (NAIC) Fall National Meeting, regulators and consumer representatives continued to seek transparency on insurers’ use of annuity captive reinsurance transactions (VA...more

NAIC Adopts "Roadmap for Cybersecurity Consumer Protection"

On December 17, 2015, members of the National Association of Insurance Commissioners Executive Committee approved a revised version of its Cybersecurity Bill of Rights that includes a name change and the addition of an...more

NAIC Adopts Roadmap for Cybersecurity Consumer Protections

On December 17, the National Association of Insurance Commissioners (NAIC) adopted a Roadmap for Cybersecurity Consumer Protections. Except for a new name and new introduction, the Cybersecurity Roadmap is identical to...more

National Association of Insurance Commissioners Updates Model Network Adequacy Law to Address Narrow Networks and Surprise Bills

On November 22, 2015, the National Association of Insurance Commissioners (“NAIC”) approved an updated version of its Managed Care Plan Network Adequacy Model Act, now known as the Health Benefit Plan Network Access and...more

NAIC's Market Regulation Committee Adopts Broad Charge to Explore Insurers' Big Data Use

On December 11, the Market Regulation and Consumer Affairs (D) Committee (Market Reg Committee) of the National Association of Insurance Commissioners (NAIC) adopted the following charge... ...more

Connecticut Bans Price Optimization

On December 4, 2015, the Connecticut Insurance Department (the “CID”) issued Bulletin PC-81 banning the practice of price optimization, a pricing method whereby insurers use factors not specifically related to an insured’s...more

Alaska’s Director Of Insurance Lists Eligible Surplus Lines Insurers

On July 13, 2015, the director of Alaska’s Division of Insurance published a list of surplus lines insurers that are eligible to write non-admitted business within the state. The Non-admitted and Reinsurance Reform Act...more

TRIA Data Call In Development for 2016

In light of the reauthorization of the Terrorism Risk Insurance Act (“TRIA”) earlier this year, a growing focus within the industry has been on the collection of data on terrorism risk exposure from insurers to help assess...more

NAIC Report: 2015 Fall National Meeting

The National Association of Insurance Commissioners (NAIC) held its 2015 Fall National Meeting from November 17 through November 22 at National Harbor, Maryland. Notwithstanding the gigantic size of the Gaylord National...more

NAIC Cybersecurity Bill of Rights: The Awkward New Guest at the Data Breach Law Party

On October 14, 2015, the NAIC’s Cybersecurity (EX) Task Force adopted a Cybersecurity Bill of Rights, an aspirational, well-intended document outlining the rights insurance consumers should (or could? or might? this point...more

NAIC IUL Illustration Subgroup Proposes Revisions to Actuarial Guideline 49

On November 3, the National Association of Insurance Commissioners (NAIC) IUL Illustration (A) Subgroup circulated for comment proposed revisions (Proposed Revisions) to recently adopted Actuarial Guideline 49 governing...more

NAIC cybersecurity task force adopts Cybersecurity Bill of Rights for insurance consumers

On October 14, the National Association of Insurance Commissioners (NAIC) Cybersecurity (EX) Task Force released an updated draft of its Cybersecurity Bill of Rights. The bill, which updates a prior draft published for...more

NAIC Cybersecurity Task Force Adopts Cybersecurity Bill of Rights

On October 14, 2015, the National Association of Insurance Commissioners’ (NAIC) Cybersecurity Task Force adopted the Cybersecurity Bill of Rights, a document meant to inform consumers of the services they can expect from...more

NAIC Adopts Cybersecurity Bill of Rights

The National Association of Insurance Commissioners (“NAIC”) continued its efforts to advance cybersecurity in the insurance industry when it recently adopted the Cybersecurity Bill of Rights. The Cybersecurity Bill of Rights...more

NAIC Panel Approval May Pave Way Towards Elimination of Variable Annuity Captives

A panel of the National Association of Insurance Commissioners (“NAIC”) recently approved a preliminary framework that may pave the way towards eliminating variable annuities captive reinsurance transactions. The framework,...more

NAIC Task Force Adopts a Cybersecurity “Bill of Rights” Despite Industry Objections

On October 14, the National Association of Insurance Commissioners Cybersecurity Task Force (NAIC Task Force) adopted a version of the Cybersecurity Bill of Rights for insurance consumers. The Bill of Rights claims to outline...more

What the Recent NAIC Financial Condition Examiners Handbook Changes Mean for Insurers

On September 21, 2015, the National Association of Insurance Commissioners (NAIC) IT Examination Working Group adopted amendments to the IT section of the Financial Condition Examiners Handbook (“the Handbook”). The changes...more

140 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:

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.
×