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Europe's Insurers Enter New Stage in Solvency II Process

LONDON (BestWire) - From now until October, insurance companies operating in the European Union will be working on the next stage of their preparations for Solvency II, which is aimed at introducing a uniform regulatory structure for insurance and reinsurance in October 2012. "That pre-application...

Europe's Insurers Enter New Phase in Solvency II Process

LONDON (BestWire) - From now until October, insurance companies operating in the European Union will be working on the next stage of their preparations for Solvency II, which is aimed at introducing a uniform regulatory structure for insurance and reinsurance in October 2012. "That pre-application...

Europe's Insurers Enter New Phase in Solvency II Process

LONDON (BestWire) - From now until October, insurance companies operating in the European Union will be working on the next stage of their preparations for Solvency II, which is aimed at introducing a uniform regulatory structure for insurance and reinsurance in October 2012. "That pre-application...

Extending the Market Valuation Approach to Determining Solvency

By Gregory A. Horowitz Excerpt from 2011 Emerging Issues 6113 Does Positive Equity Value Always Indicate Solvency? Both Iridium and VFB presented situations in which the debtor had substantial market equity capitalization, in the billions of dollars, at the relevant time. Perhaps for this reason...

First Ever: Global Capital Standards for Insurers

On October 9, 2013, the International Association of Insurance Supervisors (IAIS) took a significant step toward developing a first-ever risk-based global insurance capital standard (ICS). The target date for development of the ICS is 2016, with full implementation beginning in 2019 after two years of...

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 Sixth Circuit, Relying upon Michigan’s Nonrecourse Mortgage Loan Act, Rejects the Enforceability of an Insolvency Covenant

Notwithstanding Michigan’s 2012 Nonrecourse Mortgage Loan Act (NMLA), which provides that solvency covenants in nonrecourse loans unenforceable, in Borman, LLC v. 18718 Borman, LLC , a third-party purchaser of a foreclosed property sought a deficiency judgment against the borrower and guarantor...

NAIC Summer 2015 Meeting: ORSA and Confidentiality

The Summer 2015 Meeting of the National Association of Insurance Commissioners (the “NAIC”), which concluded on August 18, saw further developments on issues that Duane Morris has been following . This Alert discusses the controversy over confidentiality of the details of the reports required...