News & Analysis as of

U.S. Treasury Insurance Industry

ArentFox Schiff

No More Surprise Medical Bills: Fifth Circuit Affirms Vacatur of Arbitration Provisions of Surprise Billing Rules (TMA II)

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On August 2, health care providers scored yet another significant victory when the US Court of Appeals for the Fifth Circuit affirmed the vacatur of various federal regulations regarding the arbitration procedures used to...more

McDermott Will & Emery

Six Wishes for the Forthcoming Final Regulations Under MHPAEA

McDermott Will & Emery on

On July 1, 2024, the US Department of Labor (DOL) submitted final regulations to the Congressional Budget Office (CBO), implementing the Mental Health Parity and Addiction Equity Act (MHPAEA) as most recently amended by the...more

Eversheds Sutherland (US) LLP

United States Treasury Department-approved surety bond insurers: Will you be ready to take advantage of the new reduced collateral...

What You Need to Know About the New Classes of Treasury-Authorized Reinsurers in Advance of the August 9, 2024 Implementation Date - As we reported in our June 24, 2024 Legal Briefing, the US Department of the Treasury...more

Eversheds Sutherland (US) LLP

US Treasury Department announces initiatives for further study of a federal insurance backstop for catastrophic cyber events

On November 17, 2023, the United States Treasury Department’s Federal Insurance Office (FIO) and the Volatility and Risk Institute at the NYU Stern School of Business jointly hosted a conference on Catastrophic Cyber Risk and...more

McDermott Will & Emery

Short-Term, Limited Duration Insurance: How Long is Too Long?

McDermott Will & Emery on

On July 7, 2023, the US Departments of Health and Human Services, Labor, and Treasury (collectively, the departments) released a Notice of Proposed Rulemaking (NPRM) and Fact Sheet that proposes to revise the definition of...more

Brownstein Hyatt Farber Schreck

Treasury’s FIO Releases Report: ‘Insurance Supervision and Regulation of Climate-Related Risks’

The Treasury Department’s Federal Insurance Office (FIO) released a report on June 26 calling on state regulators to refine efforts to evaluate climate change risks in insurance markets. The report comes amid some insurers...more

Zuckerman Spaeder LLP

Whither Insurance Coverage for Preventive Health Services? District Court Decision Striking Down Affordable Care Act’s Preventive...

Zuckerman Spaeder LLP on

On May 15, 2023, the Fifth Circuit temporarily stayed a district-court ruling that struck down a key part of the Affordable Care Act (ACA). As a result of the stay, the ACA’s health insurance coverage requirements for...more

Eversheds Sutherland (US) LLP

Charting a course: Guidance issued to help navigate potential issues for insurance industry with the corporate alternative minimum...

On February 17, 2023, the Department of Treasury (Treasury) and the Internal Revenue Service (the IRS) issued Notice 2023-20 (the Notice), to provide guidance that is intended to help avoid unintended adverse consequences to...more

McDermott Will & Emery

Weekly IRS Roundup February 13 – February 17, 2023

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of February 13, 2023 – February 17, 2023. ...more

Verrill

A Last-Minute Gift – Prescription Drug Reporting Grace Period and Good Faith Relief

Verrill on

In a move akin to last-minute gift-giving, the Departments of Labor, Health and Human Services, and the Treasury (the “Departments”) released FAQ 56 on December 23, 2022, which provides relief regarding the Prescription Drug...more

Locke Lord LLP

U.S. Treasury to Review Climate Change Effects on Insurance Availability

Locke Lord LLP on

Concerned about anecdotal evidence of diminishing availability of property insurance coverage in areas subject to disasters exacerbated by climate change, the Treasury Department announced on Thursday, June 7, that it is...more

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

Faegre Drinker Biddle & Reath LLP

Federal District Court Invalidates Some Surprise Billing Rules: What It Means for the No Surprises Act

On February 23, 2022, the United States District Court for the Eastern District of Texas invalidated portions of Part II of the interim final rule (“IFR”) issued by the U.S. Departments of Health and Human Services, Labor,...more

Bradley Arant Boult Cummings LLP

Federal Agencies Release Interim Final Rule to Implement the No Surprises Act

Today, the Departments of Health and Human Services (HHS), Labor, and Treasury (the Departments) published an interim final rule (the Interim Final Rule) implementing certain provisions of the No Surprises Act,[1] which aims...more

Sheppard Mullin Richter & Hampton LLP

New Guidance on Health Plans’ COVID-19 Coverage Obligations

On February 26, 2021, the Departments of Labor, Health and Human Services (HHS), and the Treasury issued Frequently Asked Questions (FAQs) on the implementation of the Families First Coronavirus Response Act (“FFCRA”), the...more

Holland & Hart - Health Law Blog

Free COVID-19 Vaccines and Diagnostic Testing

Over a year after the declaration of a nationwide public health emergency due to the Coronavirus Disease 2019 (“COVID-19”) pandemic, providers are in a position to offer patients a variety of COVID-19 medical services,...more

Morrison & Foerster LLP

Following U.S. Lead, UK Office Of Financial Sanctions Implementation Issues Maritime Guidance

Much of the world’s focus is on the COVID-19 pandemic, and rightfully so, but sanctions regulators also have their gazes fixed on another issue: the maritime industry. On May 14 2020, we saw the U.S. Departments of State and...more

King & Spalding

Insurers Now Offering PPP Loan Insurance

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As additional and conflicting guidance on Paycheck Protection Program (PPP) loans is released by the Small Business Administration (SBA), uncertainty about eligibility and loan forgiveness has persisted. In connection with...more

ArentFox Schiff

New Legislation: The Pandemic Risk Insurance Act of 2020

ArentFox Schiff on

Congressional Rep. Carolyn Maloney of New York has introduced a bill, H.R. 7011, titled the Pandemic Risk Insurance Act of 2020 (the Act). The purpose of the Act is to establish a Federal program, including a Pandemic Risk...more

McDermott Will & Emery

Federal Pandemic Risk Reinsurance Program: Updated Discussion Draft of Proposed Legislation

McDermott Will & Emery on

As proposed legislation to establish a Federal Pandemic Risk Reinsurance Program remains under review by the US House of Representatives’ Financial Services Committee and Oversight and Reform Committee, a number of...more

Bass, Berry & Sims PLC

Trump Administration Proposes Transparency Rule for Group Health Plans and Insurers

Bass, Berry & Sims PLC on

On November 15, 2019, the Department of Health and Human Services, the Department of Labor, and the Department of the Treasury (collectively, the Departments), unveiled a proposed rule (scheduled to be published on November...more

Faegre Drinker Biddle & Reath LLP

IRS Proposes New Regulations for Determining Whether Foreign Insurance Companies Are PFICs

After an initial period of almost 30 years without significant regulatory guidance addressing the statutory exception for foreign insurance companies under the passive foreign investment company (PFIC) regime, the U.S....more

Eversheds Sutherland (US) LLP

Long-awaited passive foreign investment company proposed regulations – focus on insurance

On July 11, 2019, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued comprehensive proposed regulations on passive foreign investment companies (PFICs) that include guidance on the...more

Bradley Arant Boult Cummings LLP

Private Flood Insurance Mandatory Acceptance Begins July 1, 2019

In February 2019, the Board of Governors of the Federal Reserve System, the Farm Credit Administration, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of...more

Faegre Drinker Biddle & Reath LLP

International Capital Standard, Holistic Framework, Cyber Insurance Highlight NAIC International Insurance Forum in D.C

On May 13-14, 2019, the National Association of Insurance Commissioners (NAIC) hosted its annual International Insurance Forum in Washington, D.C. Highlights of the event included remarks from U.S. Department of the Treasury...more

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