News & Analysis as of

Insurance Regulations

NAIC Adopts Insurance Data Security Model Law

by Wilson Elser on

On October 24, 2017, the National Association of Insurance Commissioners (NAIC) adopted the Insurance Data Security Model Law. The NAIC is the U.S. standards-setting and regulatory support organization created and governed by...more

Investment Services Regulatory Update - November 2017

by Vedder Price on

New Rules, Proposed Rules, Guidance and Alerts - SEC STAFF GUIDANCE AND ALERTS - SEC Staff Issues No-Action Letters to Facilitate Cross-Border Compliance with the Research “Unbundling” Provisions of the European...more

President Trump Signs New Executive Order To Loosen Insurance Regulations

by King & Spalding on

Following multiple failed attempts by the Republican-led Congress to repeal the Affordable Care Act (ACA), on October 12, 2017, President Trump took unilateral action signing an executive order aimed at expanding choices and...more

Insurance Regulators and Startups Discuss Pitfalls and Engagement at InsureTech Connect 2017

• Recent shifts in insurance regulation are driven by consumer demand. • Traps for the unwary mean that insurtech startups should engage with regulators early and often. • Brokers need to know how to navigate the...more

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

by 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

Defence & Indemnity - August 2017: I. Insurance Issues: Funk v. Wawanesa Mutual Insurance Company, 2017 ABQB 308, per Simpson, J....

by Field Law on

I. INSURANCE ISSUES A. The Court may refuse to apply an insurance policy provision where it would lead to an unjust result in the circumstances, per s. 545(1) of the Insurance Act or pursuant to the Court’s ability to...more

Hurricane Harvey: Insurance Statutes and Regulations

by Carlton Fields on

Because Hurricane Harvey claims may be taking you and your colleagues to different states, we thought it might be helpful to bear in mind the claims adjusting standards and regulations in those states that will likely be...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Big news in the streaming world late yesterday, with Disney announcing that was acquiring a 75 percent stake in BamTech and would be pulling all of its content from Netflix in anticipation of launching its own streaming...more

Debt Dialogue: July 2017 - Non-consolidation and True Sale Issues for Insurance Company Sponsors — Part Two

Our two-part article on non-con and true sale issues in insurance contexts continues with a deeper dive into the considerations that distinguish these issues from similar remoteness principles in a Bankruptcy Code context. In...more

Eighth Circuit Affirms Dismissal of RICO Claim in So-Called Shadow Insurance Suit

by Carlton Fields on

In Ludwick v. Harbinger Group, the U.S. Court of Appeals for the Eighth Circuit affirmed the dismissal under the McCarran-Ferguson Act of a federal RICO claim against Fidelity & Guaranty (and its owner and several affiliates)...more

Capital Standards for US Insurers – What’s New?

The federal government, state insurance regulators and international regulatory bodies are all actively engaged in the development of capital standard calculations to be employed in the supervision of entities in their...more

How Insurtechs Maximize Profits and Competitive Advantage

by Mintz Levin on

The potential to disrupt the historic insurance industry model has made insurtech one of the hottest new areas of innovation and investment, with entrepreneurs developing technologies at a breakneck pace and venture capital...more

Kentucky Federal Court Finds Subject-Matter Jurisdiction Has Not Been “Reverse Preempted” By Application Of Kentucky’s Insurers...

by Carlton Fields on

The question presented to the Court was “whether federal law has opened the door for state law to ‘reverse preempt’ the diversity jurisdiction statute.” The McCarran-Ferguson Act was enacted by Congress to prevent federal...more

Hong Kong – The new independent insurance regulator takes charge

by Hogan Lovells on

It has been announced that the new Independent Insurance Authority for Hong Kong (“IIA“) will assume its functions on 26 June 2017 (the “Commencement Date“), replacing the Office of the Commissioner of Insurance....more

McCarran-Ferguson Act Prohibits Pursuit Of RICO Claims Against Insurer

by Carlton Fields on

A Plaintiff annuity holder was prohibited from pursuing her federal racketeering claims against an insurance company and its affiliates, as doing so would impair state regulation of insurance business, contrary to the...more

New Kansas Insurance Department Bulletin Changes TPA Licensing and TPA Renewals

by Polsinelli on

On the heels of the Kansas Legislature’s recent adoption of Senate Bill No. 22 regarding third party administrators, the Kansas Insurance Department issued Bulletin 2017-2 to identify the states the Department has determined...more

News From the Vermont Statehouse - An Analysis from DRM’s Government & Public Affairs Team - April 2017

by Downs Rachlin Martin PLLC on

Trial Bar Proposes Anti-Ride-Sharing Amendments to Insurance Bill - The Senate Judiciary Committee considered amendments this week proposed by the Vermont Trial Lawyers Association that would likely force Uber out of...more

The Treasury Committee inquiry into EU insurance regulation – what have we learned so far?

by Hogan Lovells on

To supplement its work on the relationship that the UK might seek to have with the EU following Brexit, the Treasury Committee of the House of Commons established in September 2016 an inquiry into EU insurance...more

A time of change: Global Insurance Summit - February 2017

by Hogan Lovells on

We welcomed over 100 clients to our Global Insurance Summit last month. They gathered, in the heart of the City of London, to hear from industry leaders, academics and new market players. The discussions centred around the...more

Washington Weighs In On The Scope Of Insurance Regulators’ Authority

by Pullman & Comley, LLC on

In January, we reported that California’s Supreme Court had embraced a problematic approach to the state’s Unfair Insurance Practices Act—one that allows the Commissioner of Insurance to create new statutory torts by...more

Rhode Island Regulation 68, Voluntary Restructuring of Solvent Insurers Act

by Locke Lord LLP on

Recently Rhode Island revised its Voluntary Restructuring of Solvent Insurers Act as implemented by DBR Regulation 68. This was, in many respects, modeled after the UK’s Part VII Transaction, which, subject to court approval,...more

[Webinar] Insurance Coverage Issues, Challenging Damages in High Exposure Cases, A Humorous History of Asbestos Litigation, and...

by Low, Ball & Lynch on

This Webinar will cover four topics that include Insurance Coverage Issues, Challenging Damages in High Exposure, A Humorous History of Asbestos Litigation, and a California Case Law update....more

Insurers Challenge Retroactive Application of New Florida Law that Requires Comparison of Names of Accounts to Death Master File

Amendments to the Florida Disposition of Unclaimed Property Act in 2016 made significant changes to unclaimed property presumptions and insurance company obligations. See § 717.107, Fla. Stat. (2016) (the Act). Among other...more

Third Party Administrator Update: TPA Regulatory and Legislative Developments

by Polsinelli on

Polsinelli is pleased to share the June 2016 Third Party Administrator Newsletter. This newsletter covers topics throughout the year that impact TPAs. Information specific to Polsinelli's TPA practice is also included....more

Your daily dose of financial news The Brief – 5.9.16

by Robins Kaplan LLP on

Friday’s jobs report underwhelmed, but it shouldn’t necessarily put off a June rate hike by the Fed, says the Journal, especially given the news that wages climbed last month – WSJ... Fair Game got downright monarchical...more

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