The Standard Formula Podcast | Assessing Prudential Solvency Regimes in the Middle East
The Standard Formula Podcast | Assessing Prudential Insurance Regulation in Japan
The Standard Formula Podcast | Unpacking the IAIS’ Adoption of the Insurance Capital Standard
The Standard Formula Podcast | The SFCR and Other Public Reporting: A Solvency II Cornerstone
The Standard Formula Podcast | Bermuda Monetary Authority Proposes Enhancements to its Regulatory Regime
On August 4, SEC staff updated guidance on the use of rate sheet supplements in disclosing changes to terms in insurance products. As revised, updated ADI 2018-05 enables insurers to use rate sheet supplements to notify...more
With Bill 92 now adopted and enacted, this bulletin is updated to reflect the actual provisions of the Act. Bill 92, An Act to amend various provisions mainly with respect to the financial sector (2025, chapter 16)...more
The Maryland Insurance Administration (MIA) recently proposed to revise a regulation regarding the use and disclosure of credit history in underwriting and rate making for personal automobile policies. Specifically, the...more
Following outcry from rural Oregon property owners faced with stricter building codes and fewer insurers willing to write fire policies, Governor Tina Kotek has signed two measures to address wildfire risks in the state. One...more
As we reported last year, Missouri introduced its version of Commercial Finance Disclosure Law (“CFDL”) legislation, following the lead of other states with laws requiring consumer-like disclosures in certain commercial...more
On June 10, 2025, Governor Lamont signed Senate Bill No. 9 into law. In light of the passage of the bill, on July 8, 2025, the Connecticut Insurance Department (Department) issued Bulletin PC-93-25, addressed to “all...more
The United States District Court for the Southern District of West Virginia, applying West Virginia law, has held that an insurer was entitled to rescind an insurance policy based on the insured’s misrepresentations regarding...more
This update provides an overview of the legal and regulatory considerations surrounding the use of artificial intelligence (AI) products and New York law in insurance products; with a particular focus on underwriting,...more
Following a public consultation, IVASS has finalized the technical rules implementing Italy's new Insurance Arbitrator, an out-of-court dispute resolution system aimed at enhancing consumer protection in the insurance sector....more
On May 2, 2025, the Florida Senate voted to pass Senate Bill (SB) 1549, which would repeal the requirement for insurance producers to perform a diligent search of the admitted market before placing Florida risks with a...more
Generally speaking, insurance producers face fairly routine obligations when procuring cover. Every state imposes a general duty to exercise that degree of care, skill and diligence a reasonable producer would exhibit to his...more
On March 22 and 23, 2025, the Life Actuarial (A) Task Force (LATF) met at the Spring 2025 National Meeting of the US National Association of Insurance Commissioners (NAIC) in Indianapolis, Indiana. This Legal Update reports...more
Maryland recently introduced Commercial Finance Disclosure Law (“CFDL”) legislation in both the House (HB 693) and Senate (SB 754), following a path of other states with laws requiring consumer-like disclosures in certain...more
On Dec. 13, 2024, New York Governor Kathy Hochul signed a bill integrating parametric insurance into the state’s existing legal framework for insurance products under the New York Insurance Law (“NYIL”). Assembly Bill A10344...more
As described in our previous client memo in May 2022, the FDIC is amending its regulations governing deposit insurance to merge the revocable and irrevocable trust deposit insurance categories into one “trust accounts”...more
New York’s insurance policy disclosure requirements have undergone noteworthy changes over the past few months. On December 31, 2021, Governor Hochul signed the Comprehensive Insurance Disclosure Act (the “Act”) into law. ...more
On December 31, 2021, the Comprehensive Insurance Disclosure Act became the law of the land in New York. The Disclosure Act amends CPLR 3101(f) by significantly expanding the insurance-related information that a defendant...more
New York's novel mandatory disclosure requirement is more extensive than what is required by its federal counterpart, mandating the disclosure of a litany of "information and documentation," accompanied by affidavits from a...more
The Florida Office of Insurance Regulation released an informational memorandum on Friday to all health insurers and managed care organizations authorized to do business in Florida to provide guidance regarding new disclosure...more
On March 16, New York State Superintendent of Financial Services Linda Lacewell announced the issuance of Insurance Circular Letter 2021-5, on diversity (also referred to as “diversity, equity and inclusion” or DEI) and...more
The NAIC Virtual Summer National Meeting marked that it is time to get back to school for a number of annuity and life disclosure and illustration initiatives. Both regulators and insurers will need to sharpen their pencils...more
The SEC has proposed “comprehensive modifications to the mutual fund … disclosure framework,” as highlighted below. More detailed analysis of the proposal is also available in our legal alert. See “SEC Proposes Changes to...more
Insurance Europe supports the efforts of the European co-legislators towards a more sustainable economy and is in favour of increased transparency in sustainable investments and sustainability risks, provided that the...more
On June 2, 2020, the Florida Third District Court of Appeal put insurers on notice that they (1) must provide their insureds with written disclosure notices summarizing the changes in their policies upon renewal and (2)...more
Implementing all the reforms adopted by the SEC in connection with its variable insurance product summary prospectus rule (Rule 498A) is potentially a major undertaking, depending on the number and nature of an insurer’s...more