Category: National News

Note:  Hyperlinks to the attendant documents have been corrected below.   In a press release issued today, June 20, 2016, California Insurance Commissioner Dave Jones announced his decision in a major insurance case pitting a small business against a Berkshire …

  The Nevada Division of Insurance (“NDI”) has issued guidance on Credit for Reinsurance standards for Captive Risk Retention Groups (“RRGs”) filing on a U.S. Generally Accepted Accounting Principles basis. In Bulletin 16-003 issued today, June 15, 2016, Nevada Insurance …

  The Alabama Department of Insurance issued the following Bulletins to property and casualty insurers today, June 9, 2016 and yesterday, June 8 (to go directly to each complete bulletin, click on the hyperlinks below):   Personal Property By-Peril Rating …

  The National Association of Insurance Commissioners (“NAIC”) announced today, June 10, 2016, that it has adopted a recommendation that will activate principle-based reserving (“PBR”) starting on January 1, 2017.  The recommendation from the NAIC’s PBR Implementation Task Force follows an extensive …

  The Alabama Department of Insurance recently published the information below on new laws enacted in the State of Alabama during its 2016 Regular Legislative Session, which adjourned Sine Die on May 4:   Department of Insurance Bills Principle-Based Reserving  …

  The Consumer Financial Protection Bureau (“CFPB”) announced on May 5, 2016 that it is seeking comments on proposed Rules that would prohibit companies from putting mandatory arbitration clauses in new contracts.   These clauses typically state that either the …

    The Arizona Department of Insurance announced on May 5, 2016 that the results are in from its recent “Operating at the Speed of Business” Survey: We need to make information easier to find on some parts of our web …

  Comments are due by May 13, 2016 on the International Association of Insurance Supervisors (“IAIS) Issues Paper on Cyber Risk to the Insurance Sector, the National Association of Insurance Commissioners (“NAIC”) International Insurance Relations Committee (“Committee”) reminded regulators and …

  In a report issued today, April 12, 2016, the U.S. Government Accountability Office reported on how other countries have structured and funded their terrorism risk insurance programs.   Pursuant to a provision within the Terrorism Risk Insurance Program Reauthorization …

  MetLife, American’s largest insurer, has won its battle with the U.S. government to shed its “too big to fail” designation.  The New York Times reported today, March 30, 2016, that a federal judge in Washington rescinded the designation of …