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Read Insurance Law updates, alerts, news, and legal analysis from leading lawyers and law firms:

New Disability Claims Regulations Take Effect for All Plans April 1, 2018

by Snell & Wilmer on

As noted in our previous blog post, The New Disability Claims Regulations: They Don’t Only Apply to Disability Plans, the Department of Labor (“DOL”) issued regulations that revise the ERISA claims procedure regulations for...more

Chapter 558 Pre-Suit Notice May Trigger an Insurer's Duty to Defend and Indemnify

by Rumberger Kirk & Caldwell on

The Supreme Court of Florida recently issued an opinion in Altman Contractors, Inc. v. Crum & Forster Specialty Ins. Co., No. SC16-1420, 2017 WL 6379535 (Fla. Dec. 14, 2017), which impacts an insurer’s duty to defend and...more

In California, Proposed Legislation To Increase Insureds’ Recoveries From Their Insurance Policies

by Carlton Fields on

After devastating wildfires, California legislators proposed greater wildfire insurance protection, drafting a set of bills. The most important proposed changes are as follows...more

Expect Focus - Life Insurance, Volume IV, December 2017

by Carlton Fields on

EXPECTFOCUS is a quarterly review of developments in the insurance and financial services industry, provided on a complimentary basis to clients and friends of Carlton Fields Jorden Burt, P.A. Please see full Newsletter...more

Major Disruption in the Use of Technology and Trademarks in the Insurance Industry

by Carlton Fields on

A major study recently emerged regarding insurance industry brands. The study, conducted on the world’s top 10 insurance companies by brand value, shows that an industry transformation is occurring, and that insurers that...more

AOB Reform Bill Passes Florida House, Senate Future Uncertain

On January 12, 2018, the Florida House of Representatives passed a bill (HB 7015) that would dramatically affect the way contractors and their lawyers use assignments of benefits (“AOBs”) in first-party property insurance...more

SEC Whistleblower Awards to Insurance Department Employees?

by Carlton Fields on

Many federal, state, and local governmental employees may be eligible for awards pursuant to the SEC’s whistleblower program under the Dodd-Frank Act. If a report to the SEC leads to an enforcement action that results in...more

Treasury Department Urges SEC to Act on Life Company Products

by Carlton Fields on

The U.S. Department of the Treasury published an October 2017 report, "A Financial System That Creates Economic Opportunities — Asset Management and Insurance" in response to President Trump’s Executive Order 13772 on "Core...more

Eighth Circuit Upholds Dismissal Of Claim Against Department Of Health & Human Services Under ACA Transitional Reinsurance Program...

by Carlton Fields on

Seeking reimbursement of fees paid, allegedly by mistake, under the transitional reinsurance program in the Patient Protection and Affordable Care Act (“ACA”), the trustees of the Twin City Pipe Trades Welfare Fund’s sued the...more

Countdown to the First Annual New York DFS Cyber Regulation Certification

On February 15th, organizations subject to the New York Department of Financial Services Cybersecurity Regulation are required to submit their first annual certification attesting to their compliance with the state’s new data...more

Premises Pollution Liability Policy: Missouri Appellate Court Addresses Insurance Coverage Issue

The Missouri Court of Appeals (Eastern District) addressed in a December 19th opinion a coverage issue involving a Premises Pollution Liability Policy (“ PPL policy”). See Hazelwood Logistics Center, LLC v. Illinois Union...more

SEC Committee Advocates for Summary Mutual Fund Shareholder Reports

by Carlton Fields on

On December 7, the Investor Advisory Committee of the Securities and Exchange Commission (SEC) adopted a recommendation that the SEC seriously explore the development of a summary disclosure document for mutual fund companies...more

SEC Exam Staff: “Surprise, We’re Back”

by Carlton Fields on

In August, Kevin Kelcourse, the associate director for examinations at the SEC’s Boston Regional Office, confirmed that his office has been making "surprise" examination visits to registered advisers in the region. ...more

When Innovation Meets Regulation - The Effect of InsurTech on Insurance Rebating Laws

by Carlton Fields on

The rise of InsurTech — which brings technological innovations to the business of insurance — has recently had a significant impact on the insurance industry, including through advancements in cybersecurity tools, the...more

Preparing for New York Regulation 210’s Effective Date

by Carlton Fields on

The Preamble to New York’s Regulation 210 (the "Regulation") contains a March 19, 2018 effective date. However, the Regulation’s scope paragraph supports an interpretation that the Regulation’s requirements apply only when an...more

Did Santa Give the Insurance Industry a Lump of Coal or a Diamond in the Rough? The Proposed Suitability and Best Interest...

by Carlton Fields on

As reported in our November 28 client alert, the National Association of Insurance Commissioners’ (NAIC) Annuity Suitability Working Group (Suitability WG) circulated the proposed Suitability and Best Interest Standard of...more

The Ghosts of Christmas Past, Present, and Future Haunt Insurers’ Use of Big Data and Algorithmic Tools

by Carlton Fields on

Watching as legislators, regulators, and policymakers’ consider what changes, if any, are necessary for insurers’ use of big data and algorithmic tools, is like being visited by the Ghosts of Christmas Past, Present, and...more

FASB to Revise Accounting for Tax Act

FASB received unsolicited input from banks and insurance companies and related trade groups on the accounting for what is referred to as the Tax Cuts and Jobs Act. Based on the input, FASB has tentatively decided to revise...more

The DOL Fiduciary Rule: Charting a Course, Avoiding Collisions & Potential Litigation Q&A #4 - Q&As on Annuity Sales Practices,...

by Carlton Fields on

For the past several months, we have written about potential litigation issues under the “revised temporary” DOL Rule involving the offer and sale of annuities in the IRA market. This article continues that discussion. ...more

Regulators Continue to Scrutinize Initial Coin Offerings

by Carlton Fields on

As reported in the most recent issue of Expect Focus, the SEC issued an investigative report in July cautioning market participants that distributed ledger (blockchain) technology-based offers and sales of digital "tokens" or...more

New York’s High Court Scales Back Reinsurance Liability Cap

by Carlton Fields on

In Excess Insurance Co. Ltd. v Factory Mutual Insurance Co., 3 NY3d 577 (N.Y. 2004), New York’s high court held that, under a facultative reinsurance agreement, the reinsurer’s liability was limited to a per occurrence cap,...more

IVASS provides instructions to insurance intermediaries for preventing cyber risks

by Hogan Lovells on

IVASS has just published a letter to the market addressed to Italian and EU insurance intermediaries and undertakings addressing the level of awareness of traditional intermediaries about the risks involved in the use of new...more

Denial of Reinstatement of Lapsed Life Insurance Policy Affirmed Due to Failure to Satisfy Required Underwriting Standard

by Carlton Fields on

In European Pensions Management Limited v. Columbus Life Insurance Co., a pension benefit plan that had purchased a life insurance policy on the secondary market and then permitted it to lapse for non-payment of premiums sued...more

The Impact of the EU Requirement to ‘Unbundle’ Research Costs

by Carlton Fields on

A recent European Union (EU) directive prohibits certain investment managers from receiving securities research whose cost is "bundled" together with broker-dealers’ costs of effecting securities transactions directed by the...more

The NAIC Says Aloha

by Carlton Fields on

The National Association of Insurance Commissioners held its Fall National Meeting December 2-4 in Hawaii, saying aloha to 2017 and aloha to 2018. Key takeaways include...more

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