News & Analysis as of

Reinsurance New Regulations

Conyers

New Regulatory Policy on Recognition and Approval of an Actuary

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In October 2024, the Cayman Islands Monetary Authority (CIMA) issued an updated Regulatory Policy on the Recognition and Approval of an Actuary (the “Policy”), setting out its minimum criteria and process for determining...more

Conyers

Conyers Coverage Issue 12

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A warm welcome to this 12th edition of Conyers Coverage to kick off 2025. Now that the dust has settled, our team is reflecting on another exceptional year for the Cayman Islands (re)insurance industry in 2024. We lawyers may...more

McDermott Will & Schulte

Reciprocal Jurisdiction Reinsurers: Where Are They Now?

In September 2017, the European Union and the United States executed a bilateral treaty called the US-EU Covered Agreement, which for the first time ever permitted US ceding insurers to receive 100% credit on their statutory...more

King & Spalding

COVID-19 Slows Reinsurance Regulatory Reform

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At the 2020 National Association of Insurance Commissioners (“NAIC”) Summer National Meeting, a senior regulator with the Missouri Department of Insurance observed that as of July 7, 2020 only eleven U.S. jurisdictions had...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

Carlton Fields

Iowa And Virginia Insurance Regulators Adopt The NAIC’s Term Model Rules Governing Term And Universal Life Insurance Reserve...

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Insurance regulators in Iowa and Virginia have adopted the NAIC’s Model Rules regulating term and universal life insurance reserve financing. The stated purpose of the rules is “to establish uniform, national standards...more

Proskauer - Whistleblowing & Retaliation

New UK Regulations to Govern Whistleblowing in Financial Institutions

This month, the FCA and PRA announced a new regime for whistleblowing that will start to be phased in from March 2016. This is part of the broader desire on the part of the UK regulators to encourage individuals to raise...more

Proskauer Rose LLP

Wealth Management Update - September 2015

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September Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The September § 7520 rate for use with estate planning techniques such as CRTs, CLTs,...more

Carlton Fields

Alaska Issues Bulletin On Regulations Modifying Surplus Lines Requirements

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Alaska’s Division of Insurance has released a bulletin notifying licensees, surplus lines insurance companies in the State of Alaska, and other interested parties that it has adopted regulations modifying surplus lines...more

Carlton Fields

Maryland Adopts Credit For Reinsurance Regulations

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The Maryland Insurance Commissioner adopted regulations regarding Credit for Reinsurance effective August 18, 2014. The regulations will implement changes made to Title 5, Subtitle 9 of the Maryland Insurance Article, and are...more

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