A Road Map to Better Financial Services Regulation

By David F. Snyder, Vice President and Associate General Counsel, Public Policy, American Insurance Association In the Paris headquarters of the Organization for Economic Co-operation and Development (OECD), there is a photograph of President Eisenhower, President DeGaulle, Prime Minister MacMillan...

China: Chinese Consider Revising Plan for a Super Regulator

By M. Machua Millett, Associate, Edwards Angell Palmer and Dodge LLP China is considering reviving its plan to set up a super regulator in order to make the government's oversight of the financial sector more efficient and expedient and improve the lack of integration and co-ordination between...

Interstate Compact Update

By Jeff Kulesus, FLMI, Consultant, Milliman, Inc. Last summer Milliman conducted a survey to better understand the dynamics behind insurance industry participation in the Interstate Insurance Product Regulation Compact (IIPRC or Compact). At that time, 67 insurance companies were registered with...

LexisNexis(R) Announces Availability of LexisNexis Insurance Enterprise View

Integrated Insurance Solution Streamlines Operations with New Technology Platform For Policy, Claims, Billing and Reinsurance Data LexisNexis(R) Risk Solutions has announced the availability of LexisNexis(R) Insurance Enterprise View, a new modular solution that integrates data from multiple sources...

Foley & Lardner: Additional States Enact NAIC Model Qualified Financial Contracts Law

By Andrew Oberdeck , Senior Counsel, Foley & Lardner LLP Several states have recently added provisions to their insurance rehabilitation and liquidation acts which address the rights of parties to certain derivatives transactions with an insurance company in the event that an order of rehabilitation...

McCarter and English on New York Courts Continue to Broaden Bad Faith and Extra-Contractual Remedies Against Insurance Companies

By Nicholas M. Insua and Craig W. Davis, Attorneys, McCarter & English, LLP The decision of the New York Supreme Court in Estee Lauder Inc. v. OneBeacon Insurance Group , No. 602379/05, 2012 N.Y. Misc. LEXIS 902, 2012 NY Slip Op 30474U (N.Y. Sup. Ct. Feb. 29, 2012), is another significant victory...

Reed Smith LLP on What to Do When Your Insurance Company Goes Broke

By Timothy P. Law, Partner, Reed Smith LLP Insurance company insolvencies cause disruption to businesses and create a risk of serious financial loss. In many instances, however, policyholders can make a full recovery or mitigate their losses by considering all appropriate avenues of recovery. This...

California Department of Insurance Releases First-in-the-Nation Survey of Insurance Company Procurement from Diverse Suppliers

206 Insurers report data on their supplier diversity efforts California Insurance Commissioner Dave Jones has announced the results of a first-in-the-nation survey of supplier diversity in the insurance industry. The reports of California’s largest 206 insurance companies have been posted...

New York Market Conduct Examinations

LexisNexis is pleased to announce the addition of New York materials to our collection of Market Conduct Examination Reports ( lexis.com subscribers click here ). Market Conduct Examinations focus on the business practices of insurers and are designed to monitor marketing, advertising, policyholder services...