How Dodd-Frank Undermines Reinsurance and Endangers American Policyholders

By Karl L. Rubinstein As I discussed in my article of September 28, 2010 1 , Title V of the new Dodd-Frank Bill foreshadows a federal takeover of insurance regulation. When effective next year, it will not only subordinate state insurance laws to international treaties relating to “prudential...

Fidei and Fohl on 2010 in Review: Ten Key Insurance Regulatory Topics That Shaped the Year

By Richard J. Fidei and Elizabeth M. Fohl, Attorneys, Colodny, Fass, Talenfeld, Karlinsky & Abate In their commentary “Ten Key Insurance Regulatory Topics That Shaped the Year,” Richard J. Fidei and Elizabeth M. Fohl of of Colodny, Fass, Talenfeld, Karlinsky & Abate highlight...

LexisNexis® Insurance Law Community Podcast featuring Susan Voss, President of the National Association of Insurance Commissioners

On this edition, LexisNexis Insurance Law Community Manager Karen Yotis talks with Susan E. Voss, Commissioner of the Iowa Insurance Division and President of the NAIC, discusses the recent commissioners conference, health care reform issues, financial services oversight, the relationship with the new...

Sutherland Asbill & Brennan LLP Legal Alert: NAIC Releases Draft White Paper on Corporate Governance; At Odds With Existing Bodies of U.S. Law

By Earl Zimmerman, Partner, Sutherland Asbill & Brennan LLP This Legal Alert addresses the “ White Paper on High-Level Corporate Governance Principles for Use in U.S. Insurance Regulation ” ( click the link to download), which was exposed for comment at the Spring NAIC Meeting in...

Foley & Lardner: Congress Imposes New Rules for Taxation and Regulation of Surplus Lines Insurers

By Mary Kay Martire, Partner, Foley & Lardner LLP On July 21, 2011, a portion of the Dodd-Frank Act known as the Nonadmitted and Reinsurance Reform Act (15 U.S.C. § 8201, et seq.) (NRRA) took effect. NRRA is one example of the continuing trend of increased federal oversight over state regulation...

Ceres and a Series of Serious Thoughts about the NAIC Climate Disclosures - Part I

By J. Wylie Donald, Partner, McCarter & English Ceres released last month the first analysis of the insurer climate change disclosures submitted to state regulators pursuant to the National Association of Insurance Commissioners rule. The report is eye-opening. The authors have combed through...

Ceres and a Series of Serious Thoughts About the NAIC Climate Disclosures - Part II

By J. Wylie Donald, Partner, McCarter & English We wrote yesterday to introduce Ceres' report on the disclosure of climate risks by insurers and considered its first Recommendation to Regulators concerning mandatory and public disclosures. We address today the second recommendation in Climate...

Ceres and a Series of Serious Thoughts About the NAIC Climate Disclosures - Part III

By J. Wylie Donald, Partner, McCarter & English This is the last of three parts concerning Ceres' recently released Climate Risk Disclosures by Insurers: Evaluating Insurer Responses to the NAIC Climate Disclosure Survey . We already have looked at the first two Recommendations to Regulators...

Highlights of the Winter 2011 Issue of New Appleman on Insurance: Current Critical Issues in Insurance Law

The Winter 2011 issue of New Appleman on Insurance: Current Critical Issus in Insurance Law features three timely articles of significant importance: • The Supreme Court's 2011 Class Action Decisions: Their Impact on Insurance Class Actions • The Rise of U.S. Onshore Captive Domiciles...

Health Insurance at the Intersection of State and Federal Regulation: Confused Regulation of ERISA Fully Insured MEWAs

By R. Dean Conlin, Partner, Locke, Lord, Bissell & Liddell, L.P. Small employers have struggled to have the same funding and plan design flexibility and uniform plan coverage for group health insurance as larger employers. A fully insured, multiple employer welfare arrangement ("MEWA"...

2011 in Review: 10 Biggest Insurance Regulatory Headliners

By Fred E. Karlinsky, Richard J. Fidei, and Elizabeth M. Fohl, Attorneys, Colodny, Fass, Talenfeld, Karlinsky & Abate Fred E. Karlinsky, Richard J. Fidei, and Elizabeth M. Fohl of the law firm of of Colodny, Fass, Talenfeld, Karlinsky & Abate have written a round-up of the ten most important...

Ballard Spahr Legal Alert: Court Denies Pennsylvania Insurance Department’s Move to Liquidate Two Long-Term Care Insurers

By Douglas Y. Christian, Damian L. DiNicola, and Benjamin M. Schmidt, Attorneys, Ballard Spahr LLP The Commonwealth Court of Pennsylvania has rejected the efforts of the Pennsylvania Insurance Department (PID) to liquidate two long-term care insurance (LTCI) companies domiciled in Pennsylvania...

Truckers’ and Motor Carriers’ Commercial Vehicle Insurance – New Appleman on Insurance Law Library Edition, Chapter 69

By Jay Barry Harris, Lee Applebaum, and Jennifer Tatum Root, Attorneys, Fineman, Krekstein & Harris, P.C. Chapter 69 examines the insurance of commercial vehicles with a particular emphasis on insurance in the commercial trucking industry. This chapter explores federal and state regulation of...

Introduction and General Principles of Reinsurance Law – New Appleman on Insurance Law Library Edition, Chapter 71

By Daniel W. Gerber, Jeffrey L. Kingsley and Fallyn B. Reichert, Attorneys, Goldberg Segalla LLP Chapter 71 provides a thorough introduction to reinsurance and its commercial purposes; the operation of reinsurance contracts; and certain fundamental legal concepts. Section 71.01 begins by discussing...

Reinsurance Intermediaries – New Appleman on Insurance Law Library Edition, Chapter 75

By Marc J. Pearlman, Mark A. Kreger, and Steve Nunn This chapter begins with a description of the key functions performed by reinsurance intermediaries. (Note that intermediaries can be individuals or entities.) Section 75.01 notes that these functions must be distinguished from those performed by...

Regulation of Reinsurance – New Appleman on Insurance Law Library Edition, Chapter 78

By Kimberly M Welsh, Vice President and Assistant General Counsel, RGA The following chapter discusses important principles of reinsurance regulation today. It begins in Section 78.01 with an overview of the regulatory framework for reinsurers and reinsurance transactions in the United States. Reinsurance...

Lloyd’s and the London Market – New Appleman on Insurance Law Library Edition, Chapter 79

By James Crabtree, Anthony Menzies, Jonathan Rogers, and Susannah Wakefield, Partners, Taylor Wessing This chapter begins in Section 79.01 with a discussion of the history and structure of the Lloyd's Market. A clear understanding of the Lloyd's (and wider London) Market, as it operates today...

LexisNexis Presents a Complimentary CLE-Accredited Webinar: The Intersection of Social Media, Privacy Laws and the Insurance Industry

Get up to date on social media’s influence for insurance privacy laws and regulatory changes. Cl ick to see Ronald Raether's video message about this webinar . R egister now Le xi sNexis®...

Absolute Immunity – Insurance Criminal May Not Sue State Officers

By Barry Zalma, Attorney and Consultant States are called upon to enforce sanctions against insurance agents and brokers who violate the law and defraud the public. In doing so they act as both police agencies and administrative agencies dealing with licenses to practice insurance. Because criminals...

Top Ten Insurance Regulatory Issues and Trends of 2012

By Richard J. Fidei, Esq. and Erin T. Siska, Esq., Attorneys, Colodny, Fass, Talenfeld, Karlinsky, Abate & Webb. This recap of 2012's most important regulatory issues focuses on regulatory changes and suspensions of specified regulations due to Superstorm Sandy, implementation of the Patient...

Force-Placed Insurance: Another Multi-Billion Dollar Industry Caught in the Regulatory Cross Hairs

By Karen C. Yotis, Esq. Forced-placed insurance (FPI), which is sometimes referred to as 'lender-placed insurance,' is a specialty product that is intended to insure properties when standard property coverage is allowed to lapse. During the housing boom, FPI occupied an overlooked corner of...

State Net Capitol Journal Legislative Updates: Florida Adopts Interstate Insurance Product Regulation Compact

BUSINESS: In FLORIDA, Gov. Scott signs HB 383, which adds the Sunshine State to those that have adopted the Interstate Insurance Product Regulation Compact, which serves as a central point of electronic filing for insurance products like life insurance, annuities, disability income and long-term care...

Regulation Of Insolvency – New Appleman on Insurance Law Library Edition, Chapter 98

By Kristen J. Brown Abstract * * * This chapter examines the powers and remedial options afforded to state insurance commissioners for their regulation of insurance company insolvency. State laws arm insurance commissioners with broad intervention powers and various degrees of intervention options...

Four Insurance Consumer Protection Bills Sponsored by California Department of Insurance Signed Into Law in 2013

During 2013 Governor Jerry Brown signed four bills that the California Department of Insurance (CDI) sponsored during the legislative year. The bills are: AB 32 (Chapter 608, Statutes of 2013) authored by Assembly Speaker John Pérez (D-Los Angeles). AB 32, [ enhanced version available to...

What Will 2014 Bring For the Insurance Industry?

The tectonic plates of insurance regulation are shifting – with reverberations across the industry. The industry is also faced with significant commercial pressures, including a flood of third-party capital; persistent historically low investment returns, which are driving insurers to search for...