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Insurance Regulations Regulatory Standards

Polsinelli

Third Party Administrator and Pharmacy Benefit Manager Licensing and Compliance Developments

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South Dakota - The South Dakota Division of Insurance (“Division”) recently took regulatory action against a TPA that has held a valid TPA registration in South Dakota since 2006.  In 2021, the TPA submitted its TPA...more

Polsinelli

Louisiana Insurance Department Issues Cease and Desist Orders to a TPA and the Louisiana Office of Group Benefits for Failure to...

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The Louisiana Insurance Department (“Department”) recently issued separate Cease and Desist Orders to both a TPA operating as a Pharmacy Benefit Manager (“PBM”) and the Office of Group Benefits, a Louisiana state agency that...more

Hogan Lovells

Actualités Législatives et Réglementaires – Juillet/Août 2022

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Le bureau Parisien de Hogan Lovells a le plaisir de vous adresser sa lettre d'information mensuelle qui vous présente les Actualités législatives et réglementaires pour les mois de juillet et août 2022. Ces Actualités...more

Hogan Lovells

Italy: rules on direct compensation for motor liability insurance extended to EU insurance companies

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The Italian annual market and competition law - recently published in the Italian official Gazette - provides, among other things, for an amendment in relation to the rules on direct compensation system for motor liability...more

Kramer Levin Naftalis & Frankel LLP

NAIC Exposes Key ComFrame-Motivated Changes

Internationally active insurance groups (IAIGs) with U.S. domestic insurers should be alert to key changes in regulatory oversight being considered by the National Association of Insurance Commissioners (NAIC). These changes...more

Hogan Lovells

Italy: IVASS consults to introduce new annual reporting obligation for non-life insurance companies

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On 28 January 2022, IVASS launched a public consultation on a draft regulation providing rules related to the obligation to communicate to IVASS data and information on non-life premiums collected in Italy by insurance...more

Hogan Lovells

IVASS provides clarifications concerning Italian rules governing insurance distribution

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On 23 December 2021 IVASS published a set of clarifications regarding a number of Italian provisions governing the insurance distribution activity. Following a series of meetings held between the Italian insurance...more

Manatt, Phelps & Phillips, LLP

Accessing Out-of-Network Subspecialty Cancer Care in Marketplace Plans

In a new report prepared in partnership with the Leukemia & Lymphoma Society (LLS), summarized below, Manatt Health reviews policy challenges that may hamper patients’ ability to navigate and obtain proper treatment for their...more

Conyers

BMA Consultation on Changes to the Bermuda Solvency Capital Requirement Model for Insurers

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The Bermuda Monetary Authority (BMA) has recently issued a Consultation Paper on proposed changes to the Bermuda Solvency Capital Requirement Model and Schedules. ...more

Conyers

BMA Proposes Internationally Active Insurance Group Concept for Bermuda

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In December 2020, as part of its review to update Bermuda’s commercial insurance regime, the Bermuda Monetary Authority (BMA) issued a consultation paper proposing the introduction of an Internationally Active Insurance Group...more

Carlton Fields

Seniors in the Coming Year

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Continued FINRA Focus - If regulatory developments in 2020 are any indication, FINRA’s efforts to protect senior customers from financial exploitation and vulnerability will continue in 2021 and beyond....more

Kramer Levin Naftalis & Frankel LLP

NY DFS Regulations Allow Superintendent to be Group-Wide Supervisor

On June 3, amendments to New York insurance regulations, available here, became effective that will permit the New York Superintendent of Financial Services to act as group-wide supervisor of internationally active insurance...more

Carlton Fields

Peering Into Regulators' Views on Artificial Intelligence

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The comments by regulators during the NAIC Artificial Intelligence (EX) Working Group (AI WG) calls provide insight into regulators' views on insurers' use of artificial intelligence and may foretell areas for future...more

Hogan Lovells

‘Open Insurance’: What does the future hold?

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FCA’s Call for Input on Open Finance - Open Finance refers to the extension of open-banking-like data sharing and third-party access to a wider range of financial sectors and products, including in the insurance market....more

Polsinelli

Recent Regulatory Actions Against TPAs (UPDATED)

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The Kansas Insurance Department (“Kansas Department”) recently issued a Summary Order against a Missouri-domiciled third party administrator (“Company”) revoking the Company’s Kansas non-resident TPA license....more

Polsinelli

Third Party Administrator Newsletter - December 2019

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Vermont Regulatory Action: A Reminder that Insurers Must Maintain Oversight of Their TPA and PBM Business Partners The Vermont Department of Financial Regulation (the “Department”) recently took significant enforcement...more

Polsinelli

Vermont Regulatory Action: A Reminder that Insurers Must Maintain Oversight of their TPA and PBM Business Partners

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The Vermont Department of Financial Regulation (the “Department”) recently took significant enforcement action against an insurer after determining that the insurer had violated various provisions of Vermont’s insurance laws,...more

Carlton Fields

Innovation Whack-a-Mole

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Like a game of whack-a-mole, new or existing NAIC groups are being tasked to consider the various regulatory issues that are popping up from insurance innovation....more

Kramer Levin Naftalis & Frankel LLP

Acquiring a Life Insurer — Things You Need to Know Now

With M&A activity for life insurers or blocks of in-force business poised for a possible spike, acquirers of life businesses should consider factors that are peculiar to, or disproportionately affect, the life and annuity...more

Kramer Levin Naftalis & Frankel LLP

NY Regulatory Guidance on AI Illustrates Compliance Challenges

The New York Department of Financial Services’ (DFS) January 2019 insurance circular letter, which advised New York-licensed life insurance carriers on the use of external consumer data and information sources in...more

Carlton Fields

Proposed Revisions to ASOP 2 May Impact Your Product Pricing and Litigation Exposure

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The Actuarial Standards Board (ASB) exposed wholesale changes to Actuarial Standard of Practice No. 2 - Nonguaranteed Charges or Benefits for Life Insurance Policies and Annuity Contracts (ASOP 2), which has not changed since...more

Hogan Lovells

French legal and regulatory update - May 2019

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The Paris office of Hogan Lovells is pleased to provide this English language edition of our monthly e-newsletter, which offers a legal and regulatory update covering France and Europe for May 2019. ...more

Hogan Lovells

French legal and regulatory update - April 2019

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The Paris office of Hogan Lovells is pleased to provide this English language edition of our monthly e-newsletter, which offers a legal and regulatory update covering France and Europe for April 2019. ...more

Holland & Knight LLP

Florida Lawmakers Ponder Changes for Continuing Care Retirement Communities

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Legislation revising the Florida's Continuing Care Retirement Community (CCRC) statutes are now pending in final committee stops in the Florida House of Representatives and Senate. House Bill 1033 and its Senate counterpart,...more

Carlton Fields

Financial Products: States Continue to Puzzle Together Standards and Required Disclosures for Professionals Selling or Providing...

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States continue to puzzle together the duty of care financial professionals owe, or disclosures financial professionals make, to consumers. Ideally, states would ensure that the pieces fit together. However, as reflected in...more

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