News & Analysis as of

U.S. Treasury Covered Agreement

Eversheds Sutherland (US) LLP

Treasury publishes highly-anticipated notice of proposed rulemaking to update credit for reinsurance rules for Treasury-listed...

The US Department of the Treasury (Treasury), Bureau of the Fiscal Service (Fiscal Service) has published a Notice of Proposed Rulemaking relating to the federal regulations governing the corporate Federal surety bond program...more

Holland & Knight LLP

Summary of Florida's Libor Discontinuance Law

Holland & Knight LLP on

The London Interbank Offered Rate's (Libor) regulator, the Financial Conduct Authority, and administrator, Intercontinental Exchange Benchmark Administration (ICE), on March 5, 2021, announced that the publication of the...more

Eversheds Sutherland (US) LLP

NAIC Issues Updated Revisions to Credit for Reinsurance Model Law and Regulation to Address Covered Agreements

The National Association of Insurance Commissioners (NAIC) Reinsurance (E) Task Force has issued updated proposed revisions to the Credit for Reinsurance Model Law and the Credit for Reinsurance Model Regulation (Credit for...more

Locke Lord LLP

With Brexit on the Horizon, the U.S. and UK Sign a Separate Covered Agreement

Locke Lord LLP on

On December 18, 2018, the US Department of the Treasury and the Office of the US Trade Representative signed a Bilateral Agreement between the US and the UK on Prudential Measures Regarding Insurance and Reinsurance (the...more

Kramer Levin Naftalis & Frankel LLP

US, UK Enter Into ‘Covered Agreement’ on Reciprocity in Insurance Regulation

On Dec. 18, 2018, the Trump Administration signed a bilateral agreement on prudential insurance matters between the United States and the United Kingdom (the U.S.-U.K. Covered Agreement)....more

Eversheds Sutherland (US) LLP

NAIC’s work continues on proposed changes to credit for reinsurance model law and regulation to address Covered Agreements

Throughout 2018, the National Association of Insurance Commissioners (NAIC) Reinsurance (E) Task Force has been working on proposed revisions to the Credit for Reinsurance Model Law and the Credit for Reinsurance Model...more

BCLP

Insurance Regulatory Update: US-UK Covered Agreement Finalized; NAIC Model Law Amendments Delayed

BCLP on

On December 11, 2018, the U.S. Treasury and U.S. Trade Representative announced that the U.S. and U.K. had reached a final agreement on certain reinsurance collateral and other insurance regulatory measures outlined in the...more

Locke Lord LLP

US Treasury Announces New Covered Agreement on Insurance and Reinsurance Regulation with UK

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The U.S. Department of the Treasury and the Office of the U.S. Trade Representative announced on December 11, 2018 that they intend to sign a new Bilateral Agreement between the U.S. and the U.K. on Prudential Measures...more

Eversheds Sutherland (US) LLP

US-EU Covered Agreement - An Overview

On January 13, 2017, the then-US Secretary of the Treasury and the then-US Trade Representative (USTR) notified Congress that they had negotiated a covered agreement with the European Union (EU). After a period of uncertainty...more

Locke Lord LLP

UPDATE: US and EU Negotiate Covered Agreement on Insurance and Reinsurance Regulation

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As discussed in our prior QuickStudy issued on January 18, 2017, the US Federal Government and the European Union have come to an agreement on wide-ranging changes to reinsurance and establishment standards for the operation...more

Carlton Fields

United States To Sign Covered Agreement With European Union

Carlton Fields on

The U.S. Department of the Treasury and the U.S. Trade Representative have ended the speculation about the fate of the Covered Agreement negotiated by the Obama Administration with the European Union by announcing their...more

Carlton Fields

The U.S.-EU Covered Agreement: Different Assessments By Different Audiences

Carlton Fields on

On January 13, 2017, the week before the inauguration of President Trump, the U.S. Department of Treasury and the Office of the U.S. Trade Representative announced that the negotiations between the full text of the agreement...more

Kramer Levin Naftalis & Frankel LLP

US, EU Enter Into Covered Agreement on Insurance

On Jan. 13, 2017, the U.S. Department of the Treasury and the Office of the U.S. Trade Representative ("USTR") released the terms of the long-awaited covered agreement between the United States and the European Union (the...more

Carlton Fields

The U.S. And The European Union Successfully Complete Negotiations For Covered Agreement

Carlton Fields on

As we previously reported in June 2016, the United States and the European Union were in discussions to enter into a Covered Agreement. The Dodd-Frank Act introduced Covered Agreements as a means for limited federal intrusion...more

Locke Lord LLP

US and EU Negotiate Covered Agreement on Insurance and Reinsurance Regulation

Locke Lord LLP on

On January 13, 2017, the US Department of the Treasury and the Office of the US Trade Representative (USTR) announced they have negotiated a “covered agreement” on behalf of the United States (US) with the European Union...more

Locke Lord LLP

U.S., E.U. Representatives Continue to Work on Covered Agreement for Insurance and Reinsurance Measures

Locke Lord LLP on

Earlier this week, European Union (“E.U.”) and U.S. representatives met in Brussels to continue to discuss a potential agreement concerning insurance and reinsurance matters. This is the third such meeting since the U.S....more

Carlton Fields

Update On Covered Agreement Negotiations Between The U.S. And The European Union

Carlton Fields on

As we previously reported, in November 2015, the U.S. Treasury Department and the U.S. Trade Representative gave notice to Congress to initiate discussions with the European Union to enter into a Covered Agreement essentially...more

Eversheds Sutherland (US) LLP

Treasury and U.S. Trade Representative Notify Congress of Intent to Initiate Negotiations on Covered Agreement With EU Regarding...

On Friday, November 20, 2015, the U.S. Department of the Treasury and the U.S. Trade Representative (USTR) notified the chairs of the U.S. House Financial Services Committee, House Ways and Means Committee, Senate Banking...more

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