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New Legislation State and Local Government Reinsurance

Downs Rachlin Martin PLLC

Captive Insurance Update | Issue 2 | 2025

Every year, the members of the Vermont Captive Insurance Association’s legislative committee and the Vermont Department of Financial Regulation (the “DFR”) work to improve Vermont’s captive insurance laws and regulations....more

Troutman Pepper Locke

2025 Excess and Surplus Lines Law Manual

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We are happy to provide the 2025 update to the Troutman Pepper Locke LLP Excess and Surplus Lines Law Manual. This edition reflects all of the pertinent changes in the surplus lines laws and regulations of the 50 states and...more

McDermott Will & Schulte

Federal Pandemic Risk Reinsurance Program: Updated Discussion Draft of Proposed Legislation

As proposed legislation to establish a Federal Pandemic Risk Reinsurance Program remains under review by the US House of Representatives’ Financial Services Committee and Oversight and Reform Committee, a number of...more

Carlton Fields

Illinois Legislation Revises Laws Applicable to Captive Insurance Companies

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Illinois has adopted a bill that includes a number of revisions to its laws regarding captive insurance companies. ...more

Carlton Fields

Alaska Follows Other States In Adopting Law Based On Updates To NAIC Credit For Reinsurance Model Law

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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

Carlton Fields

Minnesota Implements The 2011 NAIC Credit For Reinsurance Model Law And Regulations

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On May 8, 2018, the governor of Minnesota signed H.F. 3622, a bill implementing the 2011 NAIC Credit for Reinsurance Model Law and Regulations. The bill creates a new classification of reinsurer: the “certified reinsurer.” ...more

Hogan Lovells

Game Changer: Oklahoma’s new insurance business transfer law could set precedent for other states

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On 7 May 2018, Oklahoma Governor Mary Fallin signed into law the Insurance Business Transfer Act that, effective 1 November 2018, will allow an insurer or reinsurer, through a court supervised process, to transfer a portfolio...more

Carlton Fields

Kentucky Adopts 2016 Amendments To NAIC Credit For Reinsurance Model Law

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On April 26, 2018, Governor Matt Bevin of Kentucky signed House Bill No. 464, adding Kentucky to a growing list of states to have amended their Insurance Codes to conform with the 2016 amendments to the NAIC Credit for...more

Carlton Fields

Nebraska Adopts Reinsurance Credit Amendments To Insurance Law Based On NAIC Model

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On April 11, 2018 Nebraska Gov. Pete Ricketts (R) signed Legislative Bill 815 into law, joining the surge of states amending their insurance laws regarding when ceding insurers may claim credit for reinsurance....more

Carlton Fields

Kansas Enacts Captive Insurance Act

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On April 12, 2018, Kansas Governor Jeff Colyer signed into law SB 410– a bill establishing the Captive Insurance Act, which creates two new types of captives – branch and special purpose – and specifies the regulatory...more

Carlton Fields

Michigan Amends Reinsurance Credit Statute To Conform To NAIC Model Law

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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

Carlton Fields

Wyoming Enacts Legislation And Adopts New Regulations Governing Credit For Reinsurance And Term And Universal Life Insurance...

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New regulations relating to credit for reinsurance and term and universal life insurance reserve financing took effect in Wyoming on November 30, 2017. The regulations implement amendments to Wyoming statutes that took effect...more

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