News & Analysis as of

Insurance Industry USTR

Eversheds Sutherland (US) LLP

New York joins the roster of states now accepting applications for reciprocal jurisdiction reinsurers

New York has joined the handful of states that are now accepting applications from non-US reinsurers for recognition as a reciprocal jurisdiction reinsurer under new rules that allow US domestic ceding insurers to receive...more

Locke Lord LLP

The End of Collateral for Non-US Reinsurers Is Here

Locke Lord LLP on

After years of international negotiations and NAIC deliberations, state legislatures and regulators have started the process to eliminate reinsurance collateral requirements for qualifying non-United States (U.S.) reinsurers...more

Eversheds Sutherland (US) LLP

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

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

Covered Agreement - An overview

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

Locke Lord LLP

With Brexit on the Horizon, the U.S. and UK Sign a Separate Covered Agreement

Locke Lord LLP on

On December 18, 2018, the US Department of the Treasury and the Office of the US Trade Representative signed a Bilateral Agreement between the US and the UK on Prudential Measures Regarding Insurance and Reinsurance (the...more

Eversheds Sutherland (US) LLP

Covered Agreement - An overview

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

Orrick - Finance 20/20

Treasury and USTR Finalize Bilateral Agreement with the UK on Prudential Measures Regarding Insurance and Reinsurance

Orrick - Finance 20/20 on

On December 11, the U.S. Department of the Treasury (“Treasury“) and the Office of the U.S. Trade Representative (“USTR“) announced their intent to sign the Bilateral Agreement between the United States of America and the...more

Eversheds Sutherland (US) LLP

US-EU Covered Agreement - An Overview

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

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

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

Kramer Levin Naftalis & Frankel LLP

US, EU Enter Into Covered Agreement on Insurance

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

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

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