Videocast: Asset management regulation in 2020 videocast series – The annuity regulatory landscape
The Intersection of Big Data and Insurance Regulation
InsurTech and the Changing Distribution Model
A warm welcome to the Summer edition of Conyers Coverage. The whirlwind that is the Cayman Islands (re)insurance industry continues to blow with gusto! To keep you updated on recent developments, we include various items from...more
Insurance commissioners serving as liquidators of insolvent insurance companies should be mindful of the potential for personal liability arising under the Federal Priority Act (FPA) and potential solutions through model...more
Louisiana recently amended its statutes regulating managing general agents (MGAs). Certain of the amendments conform Louisiana law to the National Association of Insurance Commissioners MGA Model Act (NAIC Model) adopted in...more
In April, Kentucky (HB 474) and Maryland (SB 207) adopted insurance data security legislation based on the National Association of Insurance Commissioners (NAIC) model law. A total of 15 states have adopted the NAIC Model...more
Kentucky became the latest state to adopt the NAIC insurance data security model law with Governor Andy Beshear’s signing of House Bill 474. The new law goes into effect Jan. 1, 2023, and gives covered licensees one or two...more
On July 15, 2021, Wisconsin Governor Tony Evers signed Act 73 (Act) into law, making Wisconsin the latest state to adopt the National Association of Insurance Commissioner's (NAIC) model cybersecurity law. Most recently, Iowa...more
Delaware (July 31, 2019) and New Hampshire (August 2, 2019) have become the latest states to add to the insurance cybersecurity landscape by enacting information security laws. These laws come on the heels of Connecticut’s...more
On July 31, 2019, Governor Carney signed the Delaware Insurance Data Security Act (formerly, HB 174) into law. Based on the National Association Of Insurance Commissioners (NAIC) Insurance Data Security Model Law, the...more
On July 13, 2018 Alaska became the last state to incorporate amendments to the NAIC Credit for Reinsurance Model Law into its insurance code when Governor Bill Walker (I) signed House Bill 401 into law....more
On April 10, 2018 Michigan Governor Rick Snyder (R) signed Michigan Senate Bill 638 into law to amend the state’s insurance code to conform to the National Association of Insurance Commissioner (“NAIC”)’s model law on...more
West Virginia House Bill 4230, approved by Governor Justice on March 27, amends the statutory requirements relating to when an insurer may claim credit for reinsurance to conform to the NAIC model law....more
The West Virginia Office of the Insurance Commissioner has released Informational Letter No.199 summarizing significant insurance legislation enacted during the 2017 Regular Session and First Special Session of the West...more
On March 6, 2017, the Governor of South Dakota signed into law House Bill 1045 conforming South Dakota law to the current version of the Credit for Reinsurance NAIC Model Law (Model 785). ...more
On Monday, August 17, 2015, California Assembly Bill 553 was signed by Governor Jerry Brown, and became immediately effective. AB 553 adopts much of the NAIC’s Model Corporate Governance Annual Disclosure Model Act, along...more
During the first half of 2015, state legislatures and state insurance departments continued to revise state credit for reinsurance laws and regulations. The majority of these legislative and regulatory developments are due to...more
In 2014, the Florida Legislature enacted a law that makes significant changes to the way insurance agencies are licensed in Florida. The new law amends Florida’s insurance agency licensure law, and is intended to streamline...more
The California Legislature ended its 2013 session on September 13, 2013. The Legislature passed a number of insurance-related bills during this year’s session. Some of the bills passed this year have already been signed into...more