Category: National News

  A National Association of Insurance Commissioners (“NAIC”) subgroup draft white paper on commercial insurers’ use of captives and special purpose vehicles (“SPVs”) is open for public comment until April 29, 2013.   To view the draft, click here. The draft …

  At last week’s National Association of Insurance Commissioners (“NAIC”) 2013 Spring National Meeting, the NAIC’s Financial Condition Committee approved two model law development requests submitted by its Corporate Governance Working Group (“Working Group”).  One calls for the development of …

The National Association of Insurance Commissioners (“NAIC”) revised Credit for Reinsurance Model Law and Regulation require an assuming insurer to be licensed and domiciled in a Qualified Jurisdiction in order to be eligible for certification by a state as a …

  The National Association of Insurance Commissioners (“NAIC”) and the National Insurance Producer Registry (“NIPR”) released their respective 2012 Annual Reports during the NAIC’s Spring 2013 National Meeting in Houston, Texas.  (The National Meeting, which began on April 6, will …

  In a news release issued today, April 3, 2013, the U.S. Federal Reserve Board announced its approval of a final Rule that establishes the requirements for determining when a company is “predominantly engaged in financial activities.”  The requirements will …

  In a March 25, 2013 notice inviting comment on proposed policy it called “contrary to prudent business practice,” the Federal Housing Finance Agency (“FHFA”) is proposing a ban of force-placed insurance commissions and reinsurance fees to banks on loans …

  At its meeting yesterday, March 25, 2013, the National Association of Insurance Commissioners (“NAIC”) Own Risk and Solvency Assessment (“ORSA”) Subgroup (“Subgroup”) adopted the first changes to the ORSA Guidance Manual (“Manual”) since its most recent revision in 2011. …

  The National Association of Insurance Commissioners (“NAIC”) will hold its Spring 2013 National Meeting from April 6-9 in Houston, Texas. Below are agenda highlights from various committees scheduled to meet during that time. To view complete meeting details, including …

  The National Conference of Insurance Legislators (“NCOIL”) held its 2013 Spring Meeting in Washington, D.C., from March 8-10, 2013.  More than 280 state legislators, insurance regulators, federal officials, media, and consumer and industry representatives attended. Notably, by passage of …

  At a hearing entitled “Streamlining Regulation, Improving Consumer Protection and Increasing Competition in Insurance Markets” held yesterday, March 19, 2013, the U.S. Senate Banking, Housing and Urban Affairs Subcommittee (“Subcommittee”) on Securities, Insurance and Investment heard testimony in support …