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Insurance Industry Internal Controls

Skadden, Arps, Slate, Meagher & Flom LLP

JPEX Is Test Case for Hong Kong’s New Regulatory Regime for Virtual Asset Exchanges

Hong Kong regulators recently brought criminal enforcement actions against virtual asset trading platform JPEX and individuals associated with the platform. This case has become the first opportunity for local authorities to...more

White & Case LLP

The SEC’s Charges Against SolarWinds and its Chief Information Security Officer Provide Important Cybersecurity Lessons for Public...

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On October 30, 2023, the US Securities and Exchange Commission ("SEC") announced that it filed charges against SolarWinds Corp. ("SolarWinds" or the "Company") and its Chief Information Security Officer ("CISO") in connection...more

Skadden, Arps, Slate, Meagher & Flom LLP

AI Insights: NAIC Releases Draft Model Bulletin Regarding Use of AI by Insurers

In July, the Innovation, Cybersecurity and Technology Committee of the National Association of Insurance Commissioners (NAIC) released an exposure draft of its model bulletin titled “Use of Algorithms, Predictive Models, and...more

Adams and Reese LLP

Ask Not for Whom the Blue Bell Tolls

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Fifth Circuit Ruling Against Blue Bell’s Corporate Directors and Officers May Limit Availability of Insurance Coverage in Shareholder Derivative Actions - In a recent ruling, the United States Court of Appeals for the...more

Hogan Lovells

Italy: IVASS issues further secondary rules on AML

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On 14 July 2021, IVASS published a new Regulation setting out rules on money laundering risk mitigation procedures and providing for amendments to IVASS Regulation No. 44/2019 regarding rules on internal organization,...more

Locke Lord LLP

AM Best Seeks to Implement New Methodologies to Assess Underwriting Performance of Delegated Underwriting Authority Enterprises

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Given increasing reliance on “managing general agents”, managing general underwriters, program administrators or managers, brokers, agents, coverholders, and other entities delegated insurer underwriting authority...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Amazon announced yesterday that it will immediately raise the minimum wage it pays to all 250,000 of its employees (and the 100k it plans to hire for the holiday season) to at least $15/hour, more than double the current...more

Hogan Lovells

Italy: IVASS reviews rules on corporate governance system and outsourcing

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IVASS published on 5 June Regulation no. 38 concerning provisions on the corporate governance system (the “Regulation“) implementing EIOPA Guidelines pursuant to Solvency II Directive....more

Patterson Belknap Webb & Tyler LLP

The DFS Effect: Cyber Meets Sarbanes Oxley

Financial institutions with ties to New York spent their Valentine’s Day learning how to use the New York State Department of Financial Services (DFS) web portal....more

Locke Lord LLP

Evolving Audit Committee Standards for Texas Insurers

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Effective January 1, 2010, the National Association of Insurance Commissioners (NAIC) adopted the Annual Financial Reporting Model Regulations (Model Audit Rule), which among other requirements, substantially expanded the...more

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