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Regulatory Oversight Regulatory Standards Insurance Regulations

Skadden, Arps, Slate, Meagher & Flom LLP

The Standard Formula: Encyclopaedia of Prudential Solvency – Chapter 1: The IAIS and the ICS

Established in 1994, the International Association of Insurance Supervisors (IAIS) is a voluntary membership organisation comprising insurance regulatory authorities, central banks, ministries of finance, and other...more

Hogan Lovells

Italy: IVASS consults to introduce new annual reporting obligation for non-life insurance companies

Hogan Lovells on

On 28 January 2022, IVASS launched a public consultation on a draft regulation providing rules related to the obligation to communicate to IVASS data and information on non-life premiums collected in Italy by insurance...more

Hogan Lovells

IVASS provides clarifications concerning Italian rules governing insurance distribution

Hogan Lovells on

On 23 December 2021 IVASS published a set of clarifications regarding a number of Italian provisions governing the insurance distribution activity. Following a series of meetings held between the Italian insurance...more

Conyers

BMA Proposes Internationally Active Insurance Group Concept for Bermuda

Conyers on

In December 2020, as part of its review to update Bermuda’s commercial insurance regime, the Bermuda Monetary Authority (BMA) issued a consultation paper proposing the introduction of an Internationally Active Insurance Group...more

Herbert Smith Freehills Kramer

NY DFS Regulations Allow Superintendent to be Group-Wide Supervisor

On June 3, amendments to New York insurance regulations, available here, became effective that will permit the New York Superintendent of Financial Services to act as group-wide supervisor of internationally active insurance...more

Polsinelli

Recent Regulatory Actions Against TPAs (UPDATED)

Polsinelli on

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

Polsinelli

Third Party Administrator Newsletter - December 2019

Polsinelli on

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

Vermont Regulatory Action: A Reminder that Insurers Must Maintain Oversight of their TPA and PBM Business Partners

Polsinelli on

The Vermont Department of Financial Regulation (the “Department”) recently took significant enforcement action against an insurer after determining that the insurer had violated various provisions of Vermont’s insurance laws,...more

A&O Shearman

In vigore la direttiva IDD sulla distribuzione assicurativa

A&O Shearman on

In data 1° ottobre 2018 è entrata in vigore nell’Unione Europea la Direttiva (UE) 2016/97 del 20 gennaio 2016 (nota come Insurance Distribution Directive – IDD, di seguito la Direttiva) che apporta rilevanti modifiche alla...more

Hogan Lovells

Changes in insurance regulation: China / Hong Kong / Singapore / Indonesia / Vietnam - January - March 2018

Hogan Lovells on

Our Asia insurance regulatory tracker for the first quarter of 2018 is below. It includes updates on the introduction of an insurance levy in Hong Kong, a consultation on agency recruitment incentives in Singapore, and new...more

Hogan Lovells

Italy: IVASS secondary level provisions implementing the Insurance Distribution Directive (“IDD”)

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On 8 June IVASS launched three public consultations on its draft regulations providing for secondary level legislation regarding insurance and reinsurance distribution, pre-contractual transparency requirements to be met in...more

Polsinelli

Recent TPA Regulatory Developments

Polsinelli on

NEVADA: The Nevada Division of Insurance is in the process of adopting proposed insurance regulation R087-17 (the “Regulation”) which is entitled “Third Party Administrator Parental Guaranty and Notification Requirements.”...more

Carlton Fields

Kansas Enacts Captive Insurance Act

Carlton Fields on

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

Hogan Lovells

IVASS extends to EU insurers its recent guidelines to simplify insurance policy wording

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In a letter to the market published by IVASS yesterday, the Italian insurance regulator expressly clarified that the scope of application of the guidelines set out in a previous letter to the market also includes EU insurance...more

Hogan Lovells

IVASS and AGCM bring actions against unfair clauses contained in accident and health insurance contracts

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The Italian Insurance Regulator ("IVASS") and the Italian Competition Authority ("AGCM") have taken coordinated actions against certain clauses contained in health and accidents insurance policies that cover permanent...more

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