Is International Coordination of Insurance on the Horizon?

By Thomas E. Hampton, Senior Advisor, SNR Denton, 202-408-6401, thampton@sonnenschein.com As the United States economy slowly recovers from the 2008 recession, the focus of Capitol Hill has turned to the Wall Street financial institutions, many of whom needed Washington to provide them capital for...

New Appleman Premium Online Checklists

By A. Kenneth Levine New Appleman Premium Online Checklists offer a comprehensive set of checklists, essential for compliance with the technical and often varying statutes and rules which regulate the business of insurance. Some 140 independent outlines and commentaries make for a diligent understanding...

State Regulators Receive High Marks In IMF FSAP Assessment Of U.S. Insurance Sector

WASHINGTON , D.C. - The National Association of Insurance Commissioners (NAIC) received high marks from the International Monetary Fund’s (IMF) Financial Sector Assessment Program (FSAP). The Detailed Assessment Report indicates an overall high level of observance by U.S. insurance regulators of...

Legislative Approaches to Bad Faith Litigation-New Appleman Insurance Bad Faith Litigation-Chapter 10

By William T. Barker, Partner, SNR Denton Chapter 10 reviews the role of statutes in insurance bad faith litigation. Such litigation has been primarily a creature of the common law. But state insurance regulators also developed model statutes prohibiting various unfair claim practices and subjecting...

NAIC Panel Eyes Liquidity Risk

By Allison Bell, SENIOR EDITOR/WEB EDITOR, National Underwriter Life & Health Insurance regulators are trying to figure out ways to take more types of risk into account when looking at insurance company investment portfolios. An arm of the Invested Assets Working Group at the National Association...

NAIC: Few Aware That Additional Health Care Reform Provisions Take Effect This Month

Only 14 Percent Correctly Identify Official Implementation Date for Law's Earliest Provisions WASHINGTON, Sept. 13 – Earlier this year, Congress passed sweeping reforms designed to revamp the health care system and increase access to care for many Americans. Yet, according to a new survey...

NY: Superintendent Elected To Leadership Position At NAIC

Albany, NY (CompNewsNetwork) - New York Insurance Superintendent James J. Wrynn today was elected by acclimation as the Chair of the Northeast Zone of the National Association of Insurance Commissioners (NAIC). This election also makes Superintendent Wrynn a member of the Executive Committee of the NAIC...

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: 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...

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...

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

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 the disclosures of 88 insurance companies and offer thoughtful...

National and State-by-State Workers' Comp News Roundup Powered by Larson's (8/20/2012)

Sign up here for our free workers' compensation enewsletters (National or California Edition) to receive weekly news items. Be sure to select the enewsletter of your choice. NATIONAL NEWS: California Ruling May Boost NFL’s Shot at Concussion Coverage . AIA Comments on Medicare Secondary...

National and State-by-State Workers' Comp News Roundup Powered by Larson's (11/26/2012)

Sign up here for our free workers' compensation enewsletters (National or California Edition) to receive weekly news items. Be sure to select the enewsletter of your choice. NATIONAL NEWS: US Attorney, Coventry Enter Into Civil Agreement Related to Medicare Set-Asides . NAIC CEO Dr. Therese...

National and State-by-State Workers' Comp News Roundup Powered by Larson's (12/10/2012)

Sign up here for our free workers' compensation enewsletters (National or California Edition) to receive weekly news items. Be sure to select the enewsletter of your choice. NATIONAL NEWS: ABA 2013 Workers’ Comp Midwinter Seminar & Conference to Be Held 3/14-3/16 . Federal Employees...

National and State-by-State Workers' Comp News Roundup Powered by Larson's (4/1/2013)

Sign up here for our free workers' compensation enewsletters (National or California Edition) to receive weekly news items. Be sure to select the enewsletter of your choice. NATIONAL NEWS: 7th Circuit Rejects Liberty Mutual’s Challenge to AIG Class Action Settlement Order . NAIC Ranks...

Insurance Commissioner Expands Reach of Climate Change Survey: Doubles Number of Insurers Required to Respond

California Insurance Commissioner Dave Jones has announced that the Connecticut and Minnesota Departments of Insurance have joined with California, New York and Washington Departments of Insurance to require insurers to respond to the Climate Risk Survey adopted in 2009 by the National Association of...

DLA Piper Insurance Alert – “Hot Fun in the Summertime": Insurance Regulatory Activity Heats Up

The now iconic song of 1969 aptly describes the insurance regulatory activity we are seeing in the summer of 2013. During the last two weeks of July, the International Association of Insurance Supervisors (IAIS) announced new standards for regulation of G-SIIs, including releasing the initial list...

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...

2013 in Review: 10 Most Important Insurance Regulatory Developments

Fred E. Karlinsky, Richard J. Fidei, Trevor B. Mask, and Benjamin J. Zellner of the law firm of Colodny, Fass, Talenfeld, Karlinsky, Abate & Webb have written an in-depth commentary comprised of a round-up of the ten most important developments in federal and state insurance regulation of 2013. Highlights...

The Profitability of the Workers' Compensation Insurance Industry

John Burton's Workers' Compensation Resources Research Report analyzes the latest A.M. Best report As explained in the November 2014 issue of Workers' Compensation Resources Research Report (WCRRR), the operating ratio is the "most comprehensive measure of underwriting results because...