Reinsurance

Federal Housing Finance Agency Proposes New Rules on Lender-Placed Insurance

by Robert Wallan | Pillsbury Winthrop Shaw Pittman LLP on 5/16/2013

On March 29, the Federal Housing Finance Agency (FHFA) proposed consideration of new regulation on lender-placed insurance. The FHFA specifically requested public input concerning sales commissions and reinsurance activities,...more

Legal Alert: FATCA NFFE Rules Subject Non-U.S. P&C Insurers and Reinsurers to Burdensome Reporting Requirements

by Dennis Allen, Thomas A. Gick, Saren Goldner, Jeffrey Mace, Michael Miles, William Pauls, M. Kristan Rizzolo, Christopher Schoen, Linda Sciuto, W. Mark Smith, Carol Tello, more +William Walderman, P. Bruce Wright | Sutherland Asbill & Brennan LLP on 5/6/2013

The good news is that, under the recently released Foreign Account Tax Compliance Act (FATCA) regulations, most non-U.S. property and casualty (P&C) insurance and reinsurance companies will not be considered foreign financial...more

Recent Developments in New York's Taxation of Unauthorized Life Insurers

by Stanley Kaminski, Hugh T. McCormick | Duane Morris LLP on 5/3/2013

Prior to 2012, New York afforded surprisingly favorable tax treatment to life insurance companies that are not licensed to conduct business in New York ("unauthorized life insurers"), but that owned real estate investments in...more

Expanding Market for Insurance and Risk Securities Promises High Risk, High Reward - and High Potential for Claims

by Daniel Murphy, Jerry Phillips | Loeb & Loeb LLP on 4/29/2013

The securities marketplace has experienced a resurgence of interest in insurance- and risk-linked securities, primarily as a result of Hurricane Katrina and Superstorm Sandy. First introduced after the Northridge earthquake...more

Reinsurance Redux - April 2013

by Braden A. Borger, Amy S. Kline, Patrick Nugent, Sean T. O'Neill, Brian Simons, Matthew Smith | Saul Ewing LLP on 4/24/2013

In This Issue: - Assignment of Right to Collect on Reinsurance Treaty Held Not to Include Underlying Arbitration Clause: On February 25, 2013, the United States District Court for the Northern District of...more

New Affordable Care Act Fees Impact Group Health Plans in 2013 and 2014

by Deborah Bracy, Susan Whittaker Hughes, John McGowan, Jennifer Mills | BakerHostetler on 4/16/2013

On July 31, 2013, the first of various fees will be due that are imposed by the Affordable Care Act on self-insured group health plans and/or issuers of insured health policies providing accident and health coverage. Beyond...more

CFPB Investigates Captive Mortgage Reinsurance

by Leonard A. Bernstein, Daniel Booker, John Ellison, Timothy Law, James Rockney | Reed Smith on 4/16/2013

The Consumer Financial Protection Bureau has entered into consent orders with four mortgage insurance companies involving captive reinsurance of mortgage insurance issued to mortgage lenders. Those consent orders impose fines...more

Hurricane Sandy's Civil Authority Issues Bear Watching by Reinsurers

by Seth Jackson | Zelle Hofmann Voelbel & Mason LLP on 4/16/2013

As both insurers and reinsurers are well aware by now, the destructive path left by Hurricane Sandy in many Northeast states such as New York, Connecticut, and New Jersey was devastating. To date, reports have estimated...more

CFPB Announces First RESPA Enforcement Actions

by BuckleySandler LLP on 4/16/2013

On April 4, the CFPB announced enforcement actions against four mortgage insurers against which it filed complaints alleging that their captive reinsurance arrangements with mortgage lenders violated Section 8 of the Real...more

Legal Alert: New Budget Proposals Once Again Target Insurance Companies

by Dennis Allen, Thomas A. Gick, Saren Goldner, Jeffrey Mace, Michael Miles, William Pauls, M. Kristan Rizzolo, Christopher Schoen, Linda Sciuto, W. Mark Smith, William Walderman, more +P. Bruce Wright | Sutherland Asbill & Brennan LLP on 4/16/2013

On April 10, the Obama Administration released its fiscal year 2014 budget (FY 2014 Budget). Of note, the FY 2014 Budget includes a number of tax proposals that target insurance companies or that otherwise would have a direct...more

FHFA Proposes Ban On Lender-Placed Insurance Sales Commission And Reinsurance Activities

by BuckleySandler LLP on 4/1/2013

On March 26, the FHFA released a notice seeking comment on certain restrictions it expects Fannie Mae and Freddie Mac (the Enterprises) will put in place with regard to lender placed insurance practices. The FHFA anticipates...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - March 29, 2013

by BuckleySandler LLP on 3/29/2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - MISCELLANY - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - CREDIT CARDS - PAYMENTS -...more

Patton Boggs Reinsurance Newsletter - March 2013: A Brief Review of Reinsurance Trends in 2012: Managing Agents

by Patton Boggs LLP on 3/25/2013

In 2012, courts again took up the relationship between reinsurers and managing agents and not always to the reinsurer's benefit. In Lincoln Gen. Ins. Co. v. U.S. Auto Ins. Servs., Inc., No. 3:10-cv-2307-B, 2012 WL 3777408...more

Patton Boggs Reinsurance Newsletter - March 2013: A Brief Review of Reinsurance Trends in 2012: Intermediaries

by Patton Boggs LLP on 3/25/2013

In Olympus Ins. Co. v. AON Benfield, Inc., No. 11-cv-2607(PJS/AJB), 2012 WL 1072334 (D. Minn. Mar. 30, 2012), a Minnesota federal court granted a motion to dismiss in favor of a reinsurance intermediary against a cedent. The...more

Patton Boggs Reinsurance Newsletter - March 2013: A Brief Review of Reinsurance Trends in 2012: Mccarran-Ferguson Act

by Patton Boggs LLP on 3/25/2013

Though the McCarran-Ferguson Act did not receive significant treatment from the courts in 2011, the United States Court of Appeals for the Fourth Circuit weighed in on the Act in the past year. In ESAB Group, Inc. v. Zurich...more

Patton Boggs Reinsurance Newsletter - March 2013: A Brief Review of Reinsurance Trends in 2012: Discovery

by Patton Boggs LLP on 3/22/2013

In three cases in 2012, federal courts required the disclosure of reinsurance materials in discovery, emphasizing the broad scope of discovery and the need to produce relevant materials. First, in Granite State Ins. Co. v....more

Patton Boggs Reinsurance Newsletter - March 2013: A Brief Review of Reinsurance Trends in 2012: Disqualification of Counsel

by Patton Boggs LLP on 3/22/2013

As we observed in last year's reinsurance review, 2011 was marked by a notable amount of litigation over the disqualification of counsel. At that time, it appeared that disqualification of counsel was one of the few areas of...more

Patton Boggs Reinsurance Newsletter - March 2013: A Brief Review of Reinsurance Trends in 2012: Antitrust

by Patton Boggs LLP on 3/21/2013

In 2012, New York's highest court dismissed a state law antitrust claim against Equitas. In its decision in Global Reinsurance Corp. - U. S. Branch v. Equitas Ltd., 969 N. E. 2d 187 (N. Y. 2012), the New York Court of Appeals...more

Patton Boggs Reinsurance Newsletter - March 2013: A Brief Review of Reinsurance Trends in 2012: Choice of Law

by Patton Boggs LLP on 3/20/2013

An Illinois state court held that a contractual provision for choice of law in arbitration has no bearing on a choice of law determination outside of the arbitration context. In Amerisure Mut. Ins. Co. v. Global Reinsurance...more

Patton Boggs Reinsurance Newsletter - March 2013: A Brief Review of Reinsurance Trends in 2012: Jurisdiction and Venue

by Patton Boggs LLP on 3/20/2013

In 2012, several courts faced the challenge of whether a foreign reinsurer is subject to the personal jurisdiction of U.S. courts and consistently held that contracting with a cedent who conducts business in a particular...more

Patton Boggs Reinsurance Newsletter - March 2013: A Brief Review of Reinsurance Trends in 2012: Late Notice

by Patton Boggs LLP on 3/19/2013

Although late notice cases are infrequent, 2012 featured some notable decisions, highlighting the implications of choice-of-law and state-law differences on the requirement of a show of prejudice. For instance, in Pacific...more

Reinsurance Redux - March 2013

by Braden A. Borger, Amy S. Kline, Patrick Nugent, Sean T. O'Neill, Brian Simons, Matthew Smith | Saul Ewing LLP on 3/19/2013

In This Issue: - New York Court of Appeals Reverses Decision Requiring Reinsurers to Follow the Fortunes on Asbestos Settlement Where There Were Questions of Fact With Respect to Reasonableness of Reinsured’s...more

Patton Boggs Reinsurance Newsletter - March 2013: A Brief Review of Reinsurance Trends in 2012: Follow-The-Fortunes and...

by Patton Boggs LLP on 3/18/2013

In 2012, courts continued to recognize the viability of follow-the-fortunes and follow-the-settlements clauses. In United States Fid. & Guar. Co. v. Am. Re-Ins. Co., 939 N.Y.S.2d 307 (1st Dep't 2012), aff'd as modified, 2013...more

Patton Boggs Reinsurance Newsletter - March 2013: A Brief Review of Reinsurance Trends in 2012: Contractual Interpretation

by Patton Boggs LLP on 3/18/2013

From ambiguities in contractual provisions to waivers of rights, 2012 was a year rich with court decisions interpreting reinsurance contract provisions. At least four courts relied, in part, upon extrinsic evidence in...more

Patton Boggs Reinsurance Newsletter - March 2013: A Brief Review of Reinsurance Trends in 2012: Arbitration

by Patton Boggs LLP on 3/18/2013

Federal courts almost uniformly confirmed reinsurance arbitration awards in 2012, continuing the trend of deference to arbitral decisions. Where the motion courts granted motions to vacate, the appellate courts often reversed...more

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Federal Housing Finance Agency Proposes New Rules on Lender-Placed Insurance

Legal Alert: FATCA NFFE Rules Subject Non-U.S. P&C Insurers and Reinsurers to Burdensome Reporting Requirements

Recent Developments in New York's Taxation of Unauthorized Life Insurers

Expanding Market for Insurance and Risk Securities Promises High Risk, High Reward - and High Potential for Claims

Reinsurance Redux - April 2013

New Affordable Care Act Fees Impact Group Health Plans in 2013 and 2014

CFPB Investigates Captive Mortgage Reinsurance

Hurricane Sandy's Civil Authority Issues Bear Watching by Reinsurers

CFPB Announces First RESPA Enforcement Actions

Legal Alert: New Budget Proposals Once Again Target Insurance Companies

FHFA Proposes Ban On Lender-Placed Insurance Sales Commission And Reinsurance Activities

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - March 29, 2013

Patton Boggs Reinsurance Newsletter - March 2013: A Brief Review of Reinsurance Trends in 2012: Managing Agents

Patton Boggs Reinsurance Newsletter - March 2013: A Brief Review of Reinsurance Trends in 2012: Intermediaries

Patton Boggs Reinsurance Newsletter - March 2013: A Brief Review of Reinsurance Trends in 2012: Mccarran-Ferguson Act

Patton Boggs Reinsurance Newsletter - March 2013: A Brief Review of Reinsurance Trends in 2012: Discovery

Patton Boggs Reinsurance Newsletter - March 2013: A Brief Review of Reinsurance Trends in 2012: Disqualification of Counsel

Patton Boggs Reinsurance Newsletter - March 2013: A Brief Review of Reinsurance Trends in 2012: Antitrust

Patton Boggs Reinsurance Newsletter - March 2013: A Brief Review of Reinsurance Trends in 2012: Choice of Law

Patton Boggs Reinsurance Newsletter - March 2013: A Brief Review of Reinsurance Trends in 2012: Jurisdiction and Venue

Patton Boggs Reinsurance Newsletter - March 2013: A Brief Review of Reinsurance Trends in 2012: Late Notice

Reinsurance Redux - March 2013

Patton Boggs Reinsurance Newsletter - March 2013: A Brief Review of Reinsurance Trends in 2012: Follow-The-Fortunes and...

Patton Boggs Reinsurance Newsletter - March 2013: A Brief Review of Reinsurance Trends in 2012: Contractual Interpretation

Patton Boggs Reinsurance Newsletter - March 2013: A Brief Review of Reinsurance Trends in 2012: Arbitration

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