News & Analysis as of

Premiums Reinsurance

Manatt, Phelps & Phillips, LLP

Innovative 1332 Waivers Proceed in Colorado and Washington

The Biden administration gave its stamp of approval last week to Colorado’s novel waiver under Section 1332 of the Affordable Care Act (ACA) to require premium reductions in a public option program, a first-of-its-kind plan...more

Schwabe, Williamson & Wyatt PC

Oregon Extends and Increases Group Medical Insurance Premium Tax

On February 28, 2019, the Oregon Senate passed legislation that will extend and increase the tax paid on group medical insurance premiums. The legislation (HB 2010) was previously approved by the Oregon House and is expected...more

Carlton Fields

Promissory Note Issued In Satisfaction of Unpaid Insurance Premiums Is Valid And Enforceable, Even If Allegedly Derived From...

Carlton Fields on

Plaintiff sells workers’ compensation insurance through its “EquityComp” program approved by New Jersey law. Defendant purchased an EquityComp policy....more

Carlton Fields

English High Court Of Justice Orders Disclosure Of Bank’s Records Related To Misdirected Reinsurance Premiums

Carlton Fields on

In a proceeding seeking an order for disclosure of documents from Barclays Bank, the English High Court of Justice considered the scope of the agency involved in a run-off agreement between a reinsurance broker and another...more

Carlton Fields

Applied Underwriters, Inc., Loses Argument To Enforce Mandatory Forum Selection Clause In Reinsurance Contract

Carlton Fields on

On September 12, the District Court for Connecticut denied a motion to transfer predicated on a mandatory forum selection clause in a reinsurance contract. The contract was one of several entered into by Applied Underwriters,...more

Carlton Fields

Court Affirms Dismissal Of Cedent’s Claims Asserting Reinsurance Premium Fraud Scheme, Based On Expiration Of Limitations Period

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The appellant (Guarantee Trust) had forwarded reinsurance premiums to the reinsurer to be held in a custodial account for the payment of claims. Guarantee Trust initially sued Kribbs, the founder of the reinsurer, alleging...more

Carlton Fields

Pennsylvania Federal Court Remands Litigation Against Broker Back To State Court, Finding That Party Was Not Fraudulently Joined

Carlton Fields on

The background of this case is that Boomerang Recoveries LLC, a reinsurance program review company, investigated Farmers Insurance Company’s reinsurance contracts to identify any premiums Farmers had been overcharged in...more

Eversheds Sutherland (US) LLP

New York State Division of Tax Appeals Addresses Unauthorized Insurance Company Taxation

A New York State Division of Tax Appeals administrative law judge (ALJ) issued three determinations addressing the tax implications for unauthorized insurance companies, both life and non-life. Significant uncertainty has...more

Eversheds Sutherland (US) LLP

FY2017 Budget Proposal Sets Its Sights on Insurance Companies

On February 9, the Obama Administration released its fiscal year 2017 budget proposal (FY2017 Budget). Many of the tax proposals included in the FY2017 Budget closely follow those included in the President’s fiscal year 2016...more

Carlton Fields

Under a Spotlight, "Shadow Insurance" Lawsuit Fails Scrutiny

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One of several class actions that arose in the wake of a 2013 investigation by the New York Department of Financial Services (NYDFS) into so-called “shadow insurance,” Robainas v. Metropolitan Life Insurance Co., has been...more

Mintz - ML Strategies

Health Care Update - July 2015

Mintz - ML Strategies on

In This Issue: - Medicare Releases Set of Payment Rules, Physician Fee Schedule on Deck - Implementation of the Affordable Care Act - Federal Regulatory Initiatives - Congressional Initiatives - Other...more

Carlton Fields

Is SLIMPACT Losing Steam? Tennessee Switches To NIMA

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As part of the passage of the Dodd–Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) in July, 2010, Congress incorporated the Nonadmitted Insurance and Reinsurance Reform Act (“NRRA”), which provides that...more

Goodwin

CFPB Settles with Mortgage Insurance Company for Violations of RESPA

Goodwin on

The CFPB announced it had entered into a consent order with a mortgage insurance company following the CFPB’s filing of a complaint in the United States District Court for the Southern District of Florida against the company...more

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