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European Union › Covered Agreement

The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of... more +
The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -
Eversheds Sutherland (US) LLP

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

Eversheds Sutherland (US) LLP on

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

Eversheds Sutherland (US) LLP

NAIC’s work on revisions to credit for reinsurance model law and regulation is nearly complete

Eversheds Sutherland (US) LLP on

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

Eversheds Sutherland (US) LLP

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

Eversheds Sutherland (US) LLP on

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

BCLP

Insurance and Reinsurance Update

BCLP on

This is our pick of the key recent legal and regulatory issues affecting the insurance and reinsurance sector. Non Party PI Insurers Liable for Costs - In the January 2019 case of Various Claimants v Giambrone the...more

Eversheds Sutherland (US) LLP

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

Eversheds Sutherland (US) LLP on

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

Eversheds Sutherland (US) LLP

US-EU Covered Agreement - An Overview

Eversheds Sutherland (US) LLP on

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

Carlton Fields

Special Focus: NAIC Hearing Regarding The Implementation Of The Covered Agreement

Carlton Fields on

On July 31, 2017 we posted a Special Focus article on the final approval of the Covered Agreement(“the Agreement”) negotiated and entered into by U.S. and E.U. dealing with reinsurance collateral reform and insurance...more

Locke Lord LLP

NAIC Holds Public Hearing on Reinsurance Collateral Provisions of Covered Agreement

Locke Lord LLP on

On February 20, 2018, the National Association of Insurance Commissioners (NAIC) held a public hearing on the reinsurance collateral provisions of the Bilateral Agreement between the United States of America and the European...more

Carlton Fields

U.S. Covered Agreement Policy Statement Affirms U.S. State-Based Regulation Of Insurance

Carlton Fields on

We have posted several times on the negotiation and finalization of the Covered Agreement (“the Agreement”) negotiated by the Obama Administration and approved by the Trump Administration with the European Union....more

Locke Lord LLP

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

Locke Lord LLP on

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

Hogan Lovells

U.S. and EU Sign Covered Agreement; Issue Clarifying Statements

Hogan Lovells on

On Friday, September 22, 2017 the United States and the European Union signed a bilateral agreement on certain prudential measures regarding insurance and reinsurance (the “Covered Agreement” or “Agreement”). Execution had...more

Carlton Fields

Update on the Status of the Covered Agreement

Carlton Fields on

Both the E.U. and the Trump Administration have now indicated that they will sign the Covered Agreement negotiated by the Obama Administration. How and when will the various provisions of this Agreement be implemented? In a...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

Kramer Levin Naftalis & Frankel LLP

Funds Talk: March 2017

Kramer Levin Naftalis & Frankel LLP on

OCIE Highlights Frequent Topics for Compliance Deficiencies for Investment Advisers - On Feb. 7, 2017, the Securities and Exchange Commission’s (SEC’s) Office of Compliance Inspections and Examinations (“OCIE”) published...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

Hogan Lovells

EU/U.S. Covered Agreement: What’s Next?

Hogan Lovells on

On January 13, 2017, representatives of the European Union and the United States of America issued a joint statement announcing that they had successfully concluded negotiation of an agreement (the “Agreement” or “Covered...more

Kramer Levin Naftalis & Frankel LLP

US, EU Enter Into Covered Agreement on Insurance

Kramer Levin Naftalis & Frankel LLP on

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 March 2016, the United States initiated discussions with the European Union to enter into a Covered Agreement addressing: (1) the equivalence of the U.S. insurance and reinsurance regulatory...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

Carlton Fields

U.S. Treasury Department and the U. S. Trade Representative Pursuing Possible Covered Agreement With the European Union

Carlton Fields on

The U.S. Treasury Department and the U.S. Trade Representative have given notice to Congress of the initiation of discussions with the European Union to enter into a Covered Agreement essentially addressing two major issues:...more

Eversheds Sutherland (US) LLP

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

Eversheds Sutherland (US) LLP on

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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