The Standard Formula Podcast | The SFCR and Other Public Reporting: A Solvency II Cornerstone
Mad Dogs and Panameños!
The Wonder Years - Rediscovering the Magic of Split Dollar Life Insurance
On Demand Insurance is Here But Will it Stay?
The cryptocurrency industry has been around for about 15 years. For much of that time, insurance carriers have found it difficult—sometimes unpalatable—to provide well-tailored insurance to crypto companies. ...more
Effective October 1, 2025, Public Act No. 25-130 amends Connecticut’s captive insurance laws. Important amendments under the act include...more
As the 2025 hurricane season unfolds, insurance companies prepare. Early summer is time to closely monitor hurricane forecasts, assess risks, and account for financial implications that could arise due to increased property...more
Citing cutbacks at the federal level, Pennsylvania Governor Josh Shapiro has launched a new centralized consumer protection hotline, website and email address to make it easier for state residents to report allegations of...more
As natural disasters continue to impact the insurance market, Texas has seen a surge in policyholders relying on the Texas FAIR Plan Association for coverage....more
On December 10, 2024, Ontario’s Financial Services Regulatory Authority (“FSRA”) released its review of the role of Managing General Agents (“MGAs”) in Ontario’s property and casualty (“P&C”) insurance market (the “Review”)....more
“The Standard Formula” host Rob Chaplin is joined by Chiara Iorizzo to delve into the crucial, yet complex, public reporting component of Solvency II. This episode explores the Solvency and Financial Condition Report...more
On July 1, 2024, pursuant to congressional mandate, the SEC adopted a new registration framework for registered index-linked annuities (RILAs). In addition, the SEC has extended the ambit of this framework to include...more
At its Summer National Meeting in Chicago (August 12-15, 2024), the NAIC announced important guidance relating to the statutory accounting treatment of insurance companies’ investments in bank credit risk transfer (“CRT”)...more
On February 14, 2024, Florida’s Third District Court of Appeal, in Fernando Cantens and Ana Marie Cantens v. Certain Underwriters at Lloyd’s London, No. 3D22-0917 (Fla. 3d DCA Feb. 13, 2024), joined Florida’s Fourth District...more
On January 17, 2024, the New York State Department of Financial Services (NY DFS) released for public comment a proposed circular letter (Proposed Letter) to regulate the use of artificial intelligence systems (AIS) and...more
Regulators Hit Jackpot: Off-Channel Communications - Several years before announcing the first “off-channel” communications enforcement action, the SEC and FINRA cautioned broker-dealers and investment advisers about...more
Worried that the cards may be stacked against certain consumers and producers, the New York Department of Financial Services (DFS) released a circular letter and filing guidance note on July 17 to remind insurers of their...more
On January 4, the Colorado attorney general announced settlements with two credit unions that will pay a combined $4 million in refunds to borrowers in the state who were entitled to “guaranteed automobile protection” (GAP)...more
UK Solvency II review: PRA information on quantitative impact study The Prudential Regulation Authority (PRA) has published a webpage setting out information about its forthcoming quantitative impact study (QIS), which will...more
Solvency 2 (Credit Risk Adjustment) Regulations 2021 The Solvency 2 (Credit Risk Adjustment) Regulations 2021 - (SI 463/2021) have been published, together with an explanatory memorandum and a de minimis impact assessment....more
Review of Solvency II effective value test parameters: PRA statement - The UK Prudential Regulation Authority (PRA) has published a statement setting out the findings from its review of the minimum deferment rate, which is...more
The tracker covers a range of developments across the region, including steps taken by the Chinese authorities to decentralise regulations in the insurance sector, a new amendment bill passed by the Hong Kong Legislative...more
The UK Government’s proposed amendments to the Financial Services Bill are the first step towards the regulation of buy-now-pay-later products. The amendments do not yet bring about regulation but will enable HM Treasury to...more
COVID-19: Supreme Court judgment in FCA's BI insurance test case - On 15 January 2021, the Supreme Court handed down judgment in FCA v Arch Insurance (UK) Ltd and others [2021] UKSC 1 on the issues on appeal from the High...more
Lured by the prospect of exploring attractive markets, Latin American insurtech companies are leveraging new digital tools to optimize and modernize many aspects of insurance. These include new distribution channels and...more
Just in time for the holidays, the Innovation and Technology Task Force (Innovation TF) and the NAIC Executive (EX) Committee adopted revisions to Section 4(H) of the NAIC Unfair Trade Practices Act (Model 880). ...more
Insurtech companies continue to expand their reach into the Latin America market, particularly in Brazil, Mexico, and Peru. Insurtech, defined as the combination of insurance and technology, develops and leverages new digital...more
Yesterday the FCA has published its final report on its market study into general insurance pricing practices. The proposals include significant reforms including banning the so-called loyalty penalty, to prevent consumers...more
The rebating drafting group of the NAIC’s Innovation and Technology (EX) Task Force (“Innovation TF”) has been busy all summer working on proposed changes to section 4(H) of the NAIC’s Unfair Trade Practices Act (UTPA). On...more