The National Association of Insurance Commissioners (NAIC) held its 2021 Summer National Meeting from August 14 to 17 in Columbus, Ohio. The meeting was held in a hybrid in-person and remote format due to the ongoing COVID-19...more
The National Association of Insurance Commissioners (NAIC) held its 2021 Spring National Meeting from April 7 to April 14, 2021. The meeting was held in an all-virtual format due to the ongoing COVID-19 pandemic....more
Last week (March 25, 2021), the New York State Department of Financial Services (NYDFS) released for public comment proposed guidance for New York domestic insurers on managing financial risks from climate change (the...more
The New York Department of Financial Services (DFS) has issued Insurance Circular Letter No. 5 (2021) (Circular Letter) relating to insurer diversity in the boardroom and C-suite. The Circular Letter outlines new...more
The National Association of Insurance Commissioners (NAIC) held its 2020 Fall National Meeting virtually from December 3 to December 9, 2020. The meeting was originally scheduled to be held in Indianapolis, Indiana, but was...more
The National Association of Insurance Commissioners (NAIC) held its 2020 Summer National Meeting virtually from July 28 to August 14, 2020. The meeting was originally scheduled to be held in Minneapolis, Minnesota, but was...more
On August 14, 2020, the National Association of Insurance Commissioners (NAIC) adopted a set of principles that will guide the work of insurers and entities, including data providers, that play an active role in the lifecycle...more
There continues to be significant regulatory activity related to the novel coronavirus (COVID-19) and its impact on the insurance industry, as well as claims for damages due to looting and vandalism following the recent civil...more
There continues to be significant regulatory activity related to the novel coronavirus (COVID-19) and its impact on the insurance industry, as well as claims for damages due to looting and vandalism following the recent civil...more
There continues to be significant regulatory activity related to the novel coronavirus (COVID-19) and its impact on the insurance industry, as well as claims for damages due to looting and vandalism following the recent civil...more
The New York Department of Financial Services (DFS) has proposed three new rules relating to corporate governance and oversight for New York insurers. The new rules would bring New York insurance laws in line with National...more
There continues to be significant regulatory activity related to the novel coronavirus (COVID-19) and its impact on the insurance industry, including suspension of the National Association of Insurance Commissioners (NAIC)...more
There has been significant activity at both the state and federal levels related to the novel coronavirus (COVID-19) and its impact on the insurance industry. This alert summarizes some of the most notable COVID-19-related...more
The National Association of Insurance Commissioners (NAIC) held its 2019 Fall National Meeting from December 7 through 10 in Austin, Texas. Notable developments from the Fall National Meeting include:
..Bermuda, Japan and...more
12/27/2019
/ Artificial Intelligence ,
Casualty Insurance ,
Flood Insurance ,
Innovation ,
Insurance Industry ,
Life Insurance ,
Liquidity ,
NAIC ,
Property Insurance ,
Regulatory Standards ,
Reinsurance ,
Stress Tests ,
Technology ,
Terrorism Insurance
The National Association of Insurance Commissioners (NAIC) held its 2019 Summer National Meeting from August 3 through August 6 in New York City. Typically the sleepier one among the NAIC’s three national meetings, this year...more
The National Association of Insurance Commissioners (NAIC) Reinsurance (E) Task Force has approved proposed revisions to the Credit for Reinsurance Model Law (Model Law) and the Credit for Reinsurance Model Regulation (Model...more
5/22/2019
/ Capital Requirements ,
Covered Agreement ,
EU ,
Federal Agency Taskforce ,
Financial Solvency ,
Insurance Industry ,
Jurisdiction ,
NAIC ,
Proposed Amendments ,
Reinsurance ,
Risk-Based Approaches ,
The Model Law ,
UK ,
US-EU Covered Agreement ,
USTR
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
5/21/2019
/ Dodd-Frank ,
EU ,
European Economic Area (EEA) ,
Federal Insurance Office ,
GAAP ,
IFRS ,
Insurance Industry ,
Legal History ,
NAIC ,
Reinsurance ,
Solvency II ,
U.S. Treasury ,
UK ,
UK Brexit ,
US-EU Covered Agreement ,
USTR
The National Association of Insurance Commissioners (NAIC) held its 2019 Spring National Meeting from April 5 through 9 in Orlando, Florida. This meeting was distinguished by a very large class of new commissioners (15 in...more
4/18/2019
/ Annual Meeting ,
Cybersecurity ,
FSOC ,
IAIS ,
Insurance Industry ,
Life Insurance ,
Long Term Care Insurance ,
Marijuana ,
Marijuana Related Businesses ,
NAIC ,
Reinsurance ,
Risk Assessment ,
SIFIs ,
US-EU Covered Agreement ,
Working Groups
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
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
12/31/2018
/ Comment Period ,
Covered Agreement ,
EU ,
Insurance Industry ,
Jurisdiction ,
NAIC ,
Proposed Amendments ,
Reinsurance ,
U.S. Treasury ,
UK ,
UK Brexit ,
US-EU Covered Agreement
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
12/31/2018
/ Dodd-Frank ,
EU ,
Federal Insurance Office ,
GAAP ,
IFRS ,
Insurance Industry ,
NAIC ,
Preemption ,
Reinsurance ,
U.S. Treasury ,
UK Brexit ,
US-EU Covered Agreement ,
USTR
The National Association of Insurance Commissioners (NAIC) held its 2018 Summer National Meeting from August 4 through 7 in Boston, Massachusetts. Baseball and weather were pervasive topics, with the Red Sox’ sweep of the...more
On June 21, 2018, the National Association of Insurance Commissioners (NAIC) Reinsurance (E) Task Force exposed proposed revisions to the Credit for Reinsurance Model Law and the Credit for Reinsurance Model Regulation...more
The National Association of Insurance Commissioners (NAIC) held its 2018 Spring National Meeting from March 24 through 27 in Milwaukee, Wisconsin. The winds off Lake Michigan were chilly, but the welcome was warm....more
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