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Foley & Lardner LLP

Virginia Bureau of Insurance Issues Updated Guidance Regarding Minimum Capital and Surplus, Seasoning, and Procedures for...

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On August 6, the Virginia Bureau of Insurance (BOI) issued Administrative Letter 2025-03 (the Letter) to all companies seeking to be licensed as insurers in Virginia. The Letter addresses requirements for domestic, foreign,...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Standard Formula: Encyclopaedia of Prudential Solvency – Chapter 4: The Prudential Solvency Regime of the Cayman Islands

This chapter of the Encyclopaedia of Prudential Solvency focuses on the prudential solvency regime of the Cayman Islands, a prominent (re)insurance hub. The Cayman Islands initially rose to prominence in the insurance...more

Polsinelli

Recent Regulatory Action Against an Unlicensed Insurance Administrator in Florida

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The Florida Office of Insurance Regulation (“Florida OIR”) recently took regulatory action against a New York-based company (“Company”) regarding its alleged unlicensed activities in Florida. According to the Florida OIR, the...more

Polsinelli

Recent Regulatory Actions Against TPAs in South Dakota

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The South Dakota Division of Insurance (“Division”) recently took regulatory action against a Texas-based Third Party Administrator (“TPA”) regarding its activities in South Dakota. According to the Division, the TPA...more

Akerman LLP - Health Law Rx

The Florida Office of Insurance Regulation Amends the Application for Certificate of Authority for Health Maintenance...

Applicants for a health maintenance organization (HMO) certificate of authority (COA) in Florida must use a new application form effective January 28, 2024. After rule development by the Florida Office of Insurance...more

Polsinelli

Florida Proposes New Pharmacy Benefit Manager Rules

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On September 18, 2023, the Florida Office of Insurance Regulation (“OIR”) published proposed rules to implement provisions of the Prescription Drug Reform Act (Florida Senate Bill 1550) governing Pharmacy Benefit Managers...more

Akerman LLP - Health Law Rx

ACTION REQUIRED TO AVOID FINES! DEADLINE APPROACHING: Florida Pharmacy Benefit Managers Must Be Licensed as a Third-Party...

Pharmacy Benefit Managers (PBMs) take note! Under Florida’s new Prescription Drug Reform Act, PBMs must be licensed as an insurance administrator (also known as a third-party administrator, or TPA). Under this new law, any...more

Polsinelli

Third Party Administrator & Pharmacy Benefit Manager 2023 Newsletter: TPA & PBM Licensing And Compliance Developments

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Florida OIR Issues Informational Memorandum OIR-23-04M to PBMs - On July 19, 2023, the Florida Office of Insurance Regulation (“OIR”) issued Informational Memorandum OIR-23-04M (“Memorandum”) to Pharmacy Benefit Managers...more

Stikeman Elliott LLP

British Columbia Conducts Consultation on Restricted Licence Regime for Incidental Sellers of Insurance

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British Columbia’s Ministry of Finance is conducting a consultation on the adoption of its proposed restricted insurance agent licensing regime for incidental sellers of insurance. The proposal is similar to what is already...more

Polsinelli

Pharmacy Benefit Managers Licensing and Compliance Developments

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In response to calls for greater transparency in the prescription drug industry, 2021 continued a nationwide trend of increased state licensing and regulation of Pharmacy Benefit Managers (“PBMs”). In the last year, laws...more

Polsinelli

New TPA Law Governing Workers Compensation in Washington State

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Washington has recently adopted legislation (Substitute House Bill 2409 that established Revised Code of Washington 51.14.179) that will impose new licensing and other regulatory requirements on workers compensation Third...more

Polsinelli

Third Party Administrator Licensing and Compliance Services: Multistate Regulatory Action a Significant Reminder that Insurers...

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A Regulatory Settlement Agreement was recently entered into by forty-one (41) states and an insurer as a result of a multistate targeted market conduct examination (“Multistate Examination”) of the insurer. The Multistate...more

Polsinelli

Third Party Administrator Licensing and Compliance Services: Recent Regulatory Actions Against TPAs

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NEW JERSEY - The New Jersey Department of Banking and Insurance (“New Jersey Department”) recently took regulatory action against a TPA for untimely filing its annual report with the New Jersey Department....more

Robinson+Cole Data Privacy + Security Insider

Connecticut Insurance Dept. Reminds Licensees to Comply with Data Security Law

On July 20, 2020, the Connecticut Insurance Department issued a bulletin to licensees reminding them that the Connecticut Insurance Data Security Law (“Act”) becomes effective on October 1, 2020 and providing guidance on...more

Polsinelli

Recent Regulatory Actions Against TPAs (UPDATED)

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The Kansas Insurance Department (“Kansas Department”) recently issued a Summary Order against a Missouri-domiciled third party administrator (“Company”) revoking the Company’s Kansas non-resident TPA license....more

Carlton Fields

Innovation and Technology at the NAIC 2019 Fall Meeting

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Several NAIC groups continued addressing issues related to innovation in the life insurance industry as follows...more

Polsinelli

Third Party Administrator (TPA) Licensing and Compliance Developments - January 2020

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In response to calls for greater transparency in the prescription drug industry, 2019 continued a nationwide trend of increased state licensing and regulation of pharmacy benefit managers (“PBMs”). In the last year, laws...more

Polsinelli

Third Party Administrator Newsletter - December 2019

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Vermont Regulatory Action: A Reminder that Insurers Must Maintain Oversight of Their TPA and PBM Business Partners The Vermont Department of Financial Regulation (the “Department”) recently took significant enforcement...more

Polsinelli

Third Party Administrator (TPA) Licensing and Compliance Developments - November 2019

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Hawaii Insurance Department Establishes TPA Application Requirements - Recently enacted Hawaii Senate Bill (SB) 1212 imposes extensive licensing and regulatory requirements on third party administrators (TPAs) operating in...more

Polsinelli

Texas Insurance Department Issues Bulletin to TPAs and Agents

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The Texas Insurance Department (TDI) recently issued Commissioners’ Bulletin No. B-0007-19 (the “Bulletin”) to Third Party Administrators (“TPAs”) and agents licensed in Texas. Specifically, the Bulletin is a reminder to TPAs...more

Polsinelli

Third Party Administrator Update: TPA Licensing And Compliance Developments - June 2019

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Hawaii Legislature Passes New TPA Law - Hawaii is expected to adopt legislation in the coming weeks that will impose licensing and other regulatory requirements on third party administrators (TPAs). Currently, Hawaii is one...more

Polsinelli

Third Party Administrator Update: TPA Licensing and Compliance Development - September 2018

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The Polsinelli Third Party Administrator Team presents the 2018 TPA Newsletter. The newsletter is a compilation of recent news and alerts of interest to the TPA industry. ...more

Polsinelli

New Kansas Insurance Department Bulletin Changes TPA Licensing and TPA Renewals

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On the heels of the Kansas Legislature’s recent adoption of Senate Bill No. 22 regarding third party administrators, the Kansas Insurance Department issued Bulletin 2017-2 to identify the states the Department has determined...more

Downs Rachlin Martin PLLC

News From the Vermont Statehouse - An Analysis from DRM’s Government & Public Affairs Team - April 2017

Trial Bar Proposes Anti-Ride-Sharing Amendments to Insurance Bill - The Senate Judiciary Committee considered amendments this week proposed by the Vermont Trial Lawyers Association that would likely force Uber out of...more

Polsinelli

Third Party Administrator Update: TPA Regulatory and Legislative Developments - July 2016

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Polsinelli is pleased to share the June 2016 Third Party Administrator Newsletter. This newsletter covers topics throughout the year that impact TPAs. Information specific to Polsinelli's TPA practice is also included. ...more

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