Videocast: Asset management regulation in 2020 videocast series – The annuity regulatory landscape
The Intersection of Big Data and Insurance Regulation
InsurTech and the Changing Distribution Model
The National Association of Insurance Commissioners (NAIC) held its 2024 Summer National Meeting August 11-15 in Chicago, Illinois, where regulators continued to work through the implementation of numerous investment-related...more
A warm welcome to the Summer edition of Conyers Coverage. The whirlwind that is the Cayman Islands (re)insurance industry continues to blow with gusto! To keep you updated on recent developments, we include various items from...more
Arguably the most notable takeaways from the [Re]Connect conference were the updates on the positive progress the Cayman Islands has made in its quest toward (hopefully) making a formal application to secure Qualified...more
The New York State legislature recently passed a bill that will, if approved by Governor Hochul, create a regulatory framework for the issuance of pet insurance in New York, mirroring similar legislation enacted in states...more
The Department of Labor has issued the: The exemptions provide relief from prohibited compensation resulting from fiduciary recommendations to “retirement investors”—private sector retirement plans, participants in those...more
State regulators are taking action on the use of artificial intelligence in insurance. To date, nearly a dozen states have adopted some form of the National Association of Insurance Commissioners (NAIC) Model Bulletin on the...more
In recent years, demographic changes and macroeconomic factors have led to significant growth in insurance markets. Within insurance markets, a much more active market in trading “back-books” of insurance liabilities has...more
On April 24, 2024, the New York State Department of Financial Services (NYDFS) published Proposed Rule Making for the 13th Amendment to Insurance Regulation 17, 20 and 20-A (Proposed Amendment), which purports to implement...more
At the recent National Association of Insurance Commissioners (NAIC) meeting in Phoenix, Arizona (March 14–18), a new Third-Party Data and Models Task Force (Task Force) was created. The charges of the Task Force are twofold....more
At the recent 2023 national meeting of the National Association of Insurance Commissioners (NAIC) in Orlando (November 30 – December 4), the Innovation Cybersecurity and Technology Committee of NAIC (the “H Committee”) and...more
SEC CLIMATE FINANCIAL RISK DISCLOSURE: RELEASE OF THE AGENCY’S REVISED REGULATION? At some point in October 2023, the US Securities and Exchange Commission (SEC) is expected to release the long-awaited final version of its...more
The National Association of Insurance Commissioners’ Privacy Working Group has been feverishly shuffling and re-dealing its new privacy model, but its luck may be running out....more
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
Artificial Intelligence (AI) has become ubiquitous in today’s corporate lexicon. And while much has been said, and written, about AI, the question still remains: what, exactly, is AI? Or, more aptly for this discussion, what...more
At the recent National Association of Insurance Commissioners (NAIC) meeting in Seattle (August 12 – 16), the newly unveiled exposure draft of the proposed NAIC Model Bulletin “Use of Algorithms, Predictive Models, and...more
The EU-US Insurance Dialogue Project (“Project”) began in early 2012 as an initiative by the European Commission, the European Insurance and Occupational Pensions Authority (EIOPA), the Federal Insurance Office (FIO) of the...more
Pharmacy benefit managers (PBMs) should consider the implications of a model law making its way through the National Association of Insurance Commissioners (NAIC) that would establish a licensure requirement and rules of...more
The National Association of Insurance Commissioners (NAIC) is proposing to add its new group capital calculation (GCC) requirement to the existing Insurance Holding Company Systems Model Act (Holding Company Act). On Oct. 20,...more
As accelerated underwriting (AU) and artificial intelligence (AI) begin to turn life underwriting upside down, several NAIC working groups are seeking to bring order to the disruption: the Big Data (EX) Working Group (“Big...more
There continues to be significant regulatory activity related to the novel coronavirus (COVID-19) and its impact on the insurance industry, as well as claims for damages due to looting and vandalism following the recent civil...more
Insurance carriers will find the following topics, recently discussed at the National Association of Insurance Commissioners (NAIC), relevant to capital management, financial risk, solvency and similar “prudential” issues,...more
The NAIC Annuity Suitability Working Group (Suitability WG) spent the summer at the July 23, July 29, and August 3 Suitability WG meetings trying to get out of the parking lot and discussed several issues to frame up the...more
A look at big data – the collection, storage and use of diverse amounts of information by insurance companies – and the regulatory issues it poses. ...more
Saul Ewing Arnstein & Lehr's Jeremy Heinnickel provides a brief review of InsurTech and four common regulatory issues that could arise when introducing a new insurance distribution model. ...more