Top Ten Insurance Regulatory Issues and Trends of 2012

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 Protection and Affordable Care Act, and regulatory reactions to various systemic risks at the state, national, and international levels. The commentary includes analyses of regulatory developments affecting:

  • Lender-placed coverage
  • Holding company systems/enterprise risk;
  • Reinsurance collateral requirements;
  • Nonadmitted and Reinsurance Reform Act issues;
  • The return of unclaimed property to its rightful owners;
  • Residual market participants;
  • The Federal Insurance Office's increasing engagement overseas; and
  • California's Workers' Compensation Laws.

The commentary discusses legislative and regulatory developments in 2012 that occurred in the following states: AL, AR, CA, CT, DE, FL, GA, HI, IN, IL, KS, KY, LA, ME, MD, MA, MN, MS, MO, NE, NV, NH, NJ, NY, NC, OH, OR, PA, RI, SC, SD, OK, SC, TX, VA, VT, WA, WV, and WY, as well as DC.

Richard J. Fidei, a Partner at Colodny, Fass, Talenfeld, Karlinsky, Abate & Webb, leads the Firm's Insurance Regulatory Law Division. A member of the Florida and Pennsylvania Bars, Rich represents insurance companies, reinsurers, health maintenance organizations, managing general agencies, brokers, premium finance companies, third-party administrators, claims companies and other insurance-related entities in connection with regulatory, compliance, administrative, and transactional issues. Mr. Fidei, who holds the highest rating of "AV" from Martindale-Hubbell, received his Juris Doctor from the Duquesne University School of Law in 1981. He also worked for the U.S. Department of Justice at the U.S. Attorney's Office, and for the Honorable Joseph F. Weiss, United States Court of Appeals, Third Circuit. Mr. Fidei is admitted to practice in the United States District Court for the Southern District of Florida.

Erin T. Siska, an Associate in Colodny, Fass, Talenfeld, Karlinsky, Abate & Webb's Insurance Regulatory Law and Corporate Transaction Divisions, has significant nationwide experience in insurance company licensing, compliance and regulation issues. On a multi-state basis, she works with insurers, reinsurers, resident and non-resident agencies, managing general agencies, third-party administrators, workers' compensation carriers, surplus lines insurers and premium finance companies, among other regulated entities, to handle a broad array of matters such as market expansion and withdrawal, Form A filings, responses to market conduct and financial examinations, and other insurance regulatory matters.

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