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Rivkin Radler LLP

Advisory Council Recommends Amending NY’s Commercial Division Rules

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The Administrative Board of the Courts is seeking public comment on a proposal by the Commercial Division Advisory Council to amend the Commercial Division rules (22 NYCRR § 202.70) to clarify what types of insurance cases...more

McDermott+

CMS Releases Final Procedural Notice on Transitional Coverage for Emerging Technology (TCET)

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The Centers for Medicare & Medicaid Services (CMS) issued the final procedural notice on Transitional Coverage for Emerging Technologies (TCET), effective as of August 12, 2024. TCET is a new pathway that uses existing...more

Eversheds Sutherland (US) LLP

NYDFS proposes reinsurance amendments to remain compliant with NAIC accreditation standards and modify reciprocal jurisdiction...

On April 24, 2024, the New York State Department of Financial Services (NYDFS) published Proposed Rule Making for the 13th Amendment to Insurance Regulation 17, 20 and 20-A (Proposed Amendment), which purports to implement...more

Herbert Smith Freehills Kramer

NAIC Body Issues Guidance on Affiliated Investment Management for Insurers

Insurers that outsource investment management to affiliates should consider new guidance from insurance regulators on such arrangements. On March 19, 2024, following its March 16 session at the National Association of...more

Herbert Smith Freehills Kramer

Department of Financial Services Issues Guidance on Group Capital Calculation Exemptions

New York-domiciled insurers should consider new guidance from the New York Department of Financial Services (DFS) to determine whether they might be exempt from group capital calculation (GCC) requirements. In its proposed...more

Eversheds Sutherland (US) LLP

Colorado Division of Insurance proposes significant revisions to its draft algorithm and predictive model governance regulation...

On May 26, 2023, the Colorado Division of Insurance (CDI) exposed, for public review and comment, a significantly revised draft of its proposed regulation (the Revised Draft Reg.) addressing the governance and risk management...more

Troutman Pepper Locke

NAIC Picking Up Steam as it Drafts New Privacy Model

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Since the NAIC Spring National Meeting in late March, the Privacy Protections (H) Working Group has continued its work to draft a new unitary privacy model. Over April, the Working Group met one-on-one with industry and...more

Troutman Pepper Locke

NAIC Privacy Protections Working Group Moves Forward to Revise Consumer Privacy ‎‎Protections Model Act

Troutman Pepper Locke on

The NAIC is developing a new Consumer Privacy Protections Model Act (# 674) which will ‎replace the preexisting Insurance Information & Privacy Protection Model Act (# 670) and ‎Privacy of Consumer Financial & Health...more

Troutman Pepper Locke

NAIC Releases for Public Comment Draft Accelerated Underwriting Regulatory Guidance

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On Wednesday February 22, 2023, the National Association of Insurance Commissioners ‎‎(“NAIC”) Accelerated Underwriting (A) Working Group exposed for a ‎‎45-day comment period draft regulatory guidance while simultaneously...more

Herbert Smith Freehills Kramer

NAIC’s ‘Bond’ Definition — Latest Developments

Insurers and others are closely following efforts by the National Association of Insurance Commissioners (NAIC) to develop a new, comprehensive, “principles-based” definition of debt securities for purposes of insurers’...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Securities and Exchange Commission Request for Public Input on Climate Change Disclosures: International Capital Market...

The International Capital Market Association (“ICMA”) submitted June 15th comments to the Securities and Exchange Commission (“SEC”) in response to a request for public input on current potential regulation of climate change...more

Herbert Smith Freehills Kramer

NAIC Issues Guidance on Credit for Reinsurance

Insurers and reinsurers navigating the increasingly complex rules on reciprocity for collateral requirements should consider recent guidance from the leading U.S. standard-setting body. On June 17, 2021, the Reinsurance...more

Bass, Berry & Sims PLC

Trump Administration Proposes Transparency Rule for Group Health Plans and Insurers

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On November 15, 2019, the Department of Health and Human Services, the Department of Labor, and the Department of the Treasury (collectively, the Departments), unveiled a proposed rule (scheduled to be published on November...more

Carlton Fields

NAIC Publishes Exposure Drafts Of Proposed Revisions To Credit For Reinsurance Models To Implement The Covered Agreement

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The NAIC has published proposed revisions to the Credit for Reinsurance Model Law and the Credit for Reinsurance Model Regulation that are intended to facilitate compliance by the states with the provisions of the Covered...more

Carlton Fields

State Suitability, Fiduciary Duty and Disclosure Initiatives Roundup

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States are stampeding to impose additional duties on those who provide financial advice or make recommendations to consumers. Some of these initiatives result from the states’ belief that action is required to wrangle...more

Hogan Lovells

US: National Association of Insurance Commissioners to Hold February Hearing on Collateral Requirements for EU Reinsurers

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The National Association of Insurance Commissioners (NAIC) will hold a public hearing in New York City on 20 February 2018 to consider how U.S. States should address the elimination of reinsurance collateral requirements for...more

Carlton Fields

The Fiduciary Rule Status Update

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On April 8, the Department of Labor published the so-called "Fiduciary Rule." It defines who is an employee benefit plan’s "fiduciary" for purposes of the Employee Retirement Income Security Act (ERISA) and the Internal...more

Cooley LLP

Blog: FCA Rules To Encourage Consumers To Shop Around – Law Of Unintended Consequences Applies

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The UK’s Financial Conduct Authority (FCA) is planning to make new rules and guidance that will require general insurers to include last year’s premium on their consumer renewal notices, in the hope that this will encourage...more

Carlton Fields

Latest NAIC Cybersecurity News

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The National Association of Insurance Commissioners has announced three initiatives in furtherance of its goal to address cybersecurity issues faced by insurance companies, their state regulators, and consumers, which it...more

Eversheds Sutherland (US) LLP

NAIC Amps Up Cybersecurity Oversight

The NAIC has begun its efforts to amp up state insurance department oversight of cybersecurity practices with the release of two documents for public comment. The first, entitled Principles for Effective Cybersecurity...more

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