News & Analysis as of

NAIC Reinsurance Agreements

Eversheds Sutherland (US) LLP

NYDFS proposes reinsurance amendments to remain compliant with NAIC accreditation standards and modify reciprocal jurisdiction...

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

McDermott Will & Emery

NAIC Continues to Refine Multiyear Work Plan to Expand Scrutiny of Holding Company Act Filings

In our report published on April 26, 2022, we discussed the New York Department of Financial Services’ (NYDFS) Circular Letter No. 5 in which it reminded the industry that acquiring less than 10% of an insurer’s voting...more

Kramer Levin Naftalis & Frankel LLP

NAIC Issues Guidance on Credit for Reinsurance

Insurers and reinsurers navigating the increasingly complex rules on reciprocity for collateral requirements should consider recent guidance from the leading U.S. standard-setting body. On June 17, 2021, the Reinsurance...more

Carlton Fields

Rhode Island Makes Technical Changes to Its Credit for Reinsurance Regulation

Carlton Fields on

Rhode Island adopted the NAIC Credit for Reinsurance Model Regulation in 2014. Recently, Rhode Island made technical changes to the regulation and substituted forms issued by the Rhode Island Department of Insurance by...more

Carlton Fields

NAIC Publishes Exposure Drafts Of Proposed Revisions To Credit For Reinsurance Models To Implement The Covered Agreement

Carlton Fields on

The NAIC has published proposed revisions to the Credit for Reinsurance Model Law and the Credit for Reinsurance Model Regulation that are intended to facilitate compliance by the states with the provisions of the Covered...more

Carlton Fields

Kentucky Adopts 2016 Amendments To NAIC Credit For Reinsurance Model Law

Carlton Fields on

On April 26, 2018, Governor Matt Bevin of Kentucky signed House Bill No. 464, adding Kentucky to a growing list of states to have amended their Insurance Codes to conform with the 2016 amendments to the NAIC Credit for...more

Carlton Fields

Michigan Amends Reinsurance Credit Statute To Conform To NAIC Model Law

Carlton Fields on

On April 10, 2018 Michigan Governor Rick Snyder (R) signed Michigan Senate Bill 638 into law to amend the state’s insurance code to conform to the National Association of Insurance Commissioner (“NAIC”)’s model law on...more

Eversheds Sutherland (US) LLP

NAIC Report: 2017 Fall National Meeting

The National Association of Insurance Commissioners (NAIC) held its 2017 Fall National Meeting from December 2 through December 4 in Honolulu, Hawaii. Despite the exotic locale, the Fall National Meeting was not as well...more

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