Category: National Insurance Regulation News and Updates

  The Excess Line Association of New York (“ELANY”) has advised via Bulletin No. 2014-21 that the final adopted version of the 14th Amendment to New York Regulation 41 (“14th Amendment”) became effective October 8, 2014. Click here to view …

  In a news release issued today, October 24, 2014, the U.S. Federal Reserve and other federal regulatory agencies announced proposed rulemaking to amend regulations pertaining to loans secured by property located in special flood hazard areas.  To view a …

  The Financial Stability Board (“FSB”) issued an October 16, 2014 call for public comment on a proposal entitled “Recovery and Resolution Planning for Systemically Important Insurers – Guidance on Identification of Critical Functions and Critical Shared Services.” Comments are …

  On October 17, 2014, the Financial Stability Board (“FSB”) issued draft guidance for public comment on cooperation and information-sharing with host authorities of jurisdictions not represented on crisis management groups (“CMGs”) where a global systemically important financial institution (“G-SIFI”) …

  On October 14, 2014, the Initiative on Business and Public Policy at Brookings Institution convened a forum focusing on insurance lessons learned during the recent financial crisis, and how regulatory reforms are changing the industry and its supervision.   …

  Effectively immediately, Delaware auto insurers must take responsibility for ensuring their submission of annual rate information has been accomplished in a timely manner.  In Auto Bulletin No. 22 published on October 15, 2014, the Delaware Department of Insurance (“Department”) …

By Megan M. Grant, Esq.   Rulemaking is underway on Virginia regulations governing insurance holding companies after the enactment of House Bill 109, which conforms Virginia law to the National Association of Insurance Commissioners’ Insurance Holding Company Model Act. Written …

  The Kansas Insurance Department (“Department”) issued Bulletin 2014-3 today, October 14, 2014, to remind property and casualty insurers, as well as excess and surplus lines companies of procedures for reporting fire losses to the Kansas Fire Marshal’s Office as …

  The North Dakota Insurance Department (“Department”) advised on October 8, 2014 that a November 20 public hearing is scheduled on the proposed creation of rules aimed to protect consumers from misleading policy provisions which could transform liability policies into …

  The Excess Line Association of New York (“ELANY”) issued Bulletin No. 2014-20 on October 10, 2014 as a reminder to excess line brokers that the New York State Department of Financial Services will not be mailing any renewal license …