News & Analysis as of

NAIC United Kingdom

Foley & Lardner LLP

States Continue to Adopt NAIC Group Capital Calculation Updates

Foley & Lardner LLP on

In 2020, the National Association of Insurance Commissioners (the NAIC) revised the Insurance Holding Company System Regulatory Act (the “Model Law”) and Insurance Holding Company System Model Regulation (the “Model...more

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

McDermott Will & Emery

The Future of Climate Change Risk Regulation for Insurers in America?

McDermott Will & Emery on

In the few short weeks since our last report on climate change and the US insurance industry, the volume of climate change news has been extraordinarily high. The range of developments has been broad to say the very...more

King & Spalding

COVID-19 Slows Reinsurance Regulatory Reform

King & Spalding on

At the 2020 National Association of Insurance Commissioners (“NAIC”) Summer National Meeting, a senior regulator with the Missouri Department of Insurance observed that as of July 7, 2020 only eleven U.S. jurisdictions had...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

Eversheds Sutherland (US) LLP

NAIC Issues Updated Revisions to Credit for Reinsurance Model Law and Regulation to Address Covered Agreements

The National Association of Insurance Commissioners (NAIC) Reinsurance (E) Task Force has issued updated proposed revisions to the Credit for Reinsurance Model Law and the Credit for Reinsurance Model Regulation (Credit for...more

BCLP

Insurance and Reinsurance Update

BCLP on

This is our pick of the key recent legal and regulatory issues affecting the insurance and reinsurance sector. Non Party PI Insurers Liable for Costs - In the January 2019 case of Various Claimants v Giambrone the...more

Carlton Fields

Covered Agreements: Covered Agreement Reached With UK; Implementation of Covered Agreement With EU Slows

Carlton Fields on

On December 11, 2018, the Secretary of the Treasury and the United States Trade Representative sent the Chairs and Ranking Members of the Senate Committee on Banking, Housing, and Urban Affairs, the Senate Committee on...more

Eversheds Sutherland (US) LLP

NAIC’s work continues on proposed changes to credit for reinsurance model law and regulation to address Covered Agreements

Throughout 2018, the National Association of Insurance Commissioners (NAIC) Reinsurance (E) Task Force has been working on proposed revisions to the Credit for Reinsurance Model Law and the Credit for Reinsurance Model...more

BCLP

Insurance Regulatory Update: US-UK Covered Agreement Finalized; NAIC Model Law Amendments Delayed

BCLP on

On December 11, 2018, the U.S. Treasury and U.S. Trade Representative announced that the U.S. and U.K. had reached a final agreement on certain reinsurance collateral and other insurance regulatory measures outlined in 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

Carlton Fields

What’s Your Game Plan? Offensive or Defensive: Playing to Your Strengths [Expect Focus – October 2016]

Carlton Fields on

- AXA Prevails at First Post-Jones v. Harris Excessive Fee Trial - Potential Secondary Effects of Regulatory Examinations: Evidentiary Issues and Preclusion in Parallel Litigation - On The Horizon: Global...more

Carlton Fields

Brexit’s Impact on the Insurance Industry

Carlton Fields on

Following the UK’s historic advisory vote to leave the EU, key questions must be answered before any real change occurs. These include: Must the government implement the advisory vote, and if so, how? Will the UK...more

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