While you were off changing the industry, you may have missed these important developments.
Read More InsurTech Weekly Roundup – February 8, 2019
Insurance Industry for InsurTech Noobs
So you developed the newest insurance innovation that is going to revolutionize the industry -congratulations! But we also have a couple of questions…
Read More Insurance Industry for InsurTech Noobs
Illinois Governor Issues Amendatory Veto to Insurance Omnibus Legislation
On August 26, 2018, Illinois Governor Bruce Rauner issued an amendatory veto to insurance omnibus legislation, Senate Bill 1737. The amendatory veto deletes provisions in the bill related to short-term limited-duration health plans and worker’s compensation insurance. Portions of the bill concerning captive insurance regulation, domestic stock company division
Read More Illinois Governor Issues Amendatory Veto to Insurance Omnibus Legislation
Changes to Illinois Unclaimed Life Insurance Benefits Act Become Law
The Unclaimed Life Insurance Benefits Act, which requires insurers to periodically match their policies, annuity contracts, and retained asset accounts against the United States Social Security Administration’s Death Master File was signed into law on August 26, 2016 and became effective January 1, 2017. In January of 2017, Illinois
Read More Changes to Illinois Unclaimed Life Insurance Benefits Act Become Law
Trump Administration Issues Executive Order Regarding Health Coverage and Discontinues Cost-Sharing Reductions Payments
On October 12, 2017, President Donald Trump signed an Executive Order “to reform the United States healthcare system to take the first steps to expand choices and alternatives to Obamacare plans and increase competition to bring down costs for consumers.” The Executive Order directs the Secretary of Labor
Read More Trump Administration Issues Executive Order Regarding Health Coverage and Discontinues Cost-Sharing Reductions Payments
Illinois Department of Insurance Adopts Amendments to Insurance Holding Company Systems Regulations
The Illinois Department of Insurance recently adopted amendments to three parts of the insurance holding company systems regulations (50 Ill. Adm. Code 651, 653, 655).
Changes to Part 651 pertain to acquisitions of Illinois domestic insurance companies. Article VIII ½ of the Illinois Insurance Code (Insurance Holding Company Systems) was
Read More Illinois Department of Insurance Adopts Amendments to Insurance Holding Company Systems Regulations
Tennessee Issues Bulletin Re Reinsurance Ceded to Unauthorized Reinsurers by Tennessee Captives
The Tennessee Department of Commerce and Insurance recently issued a bulletin providing guidance to the Tennessee captive insurance industry on credit for reinsurance obtained by Tennessee captives from unauthorized reinsurers. Pursuant to Tennessee Insurance Code Section 56-13-112, the Department makes an initial determination whether to allow a Tennessee captive insurance
New Georgia Captive Law Lowers Taxes Among Other Changes
On April 9, 2015, the Georgia legislature sent a bill to the governor for his signature that would improve the regulatory environment for captive formation in the state. House Bill 552 reduces the taxes imposed on all Georgia domiciled captive insurance companies, among other captive friendly revisions. Once enacted, Georgia’s
Read More New Georgia Captive Law Lowers Taxes Among Other Changes
South Dakota Enacts Law Allowing Insurance Agents and Service Contract Producers to Form Captives
South Dakota recently enacted legislation that will allow insurance agents and service contract producers (e.g. motor vehicle dealer) to form captive insurance companies to insure or reinsure the risks placed by or through such agency or service contract producer. The law, which does not got into effect until July
Read More South Dakota Enacts Law Allowing Insurance Agents and Service Contract Producers to Form Captives
Insights into emerging joint ventures for insurers and hospitals focus of Bloomberg BNA article from Locke Lord
In it Together: Emerging Joint Venture Structures for Hospitals and Insurers
Following the passage of the Affordable Care Act (the ACA), hospitals and physician practice groups, on the one hand, and health insurance and managed care companies, on the other hand, increasingly have focused on lowering health care delivery costs
Read More Insights into emerging joint ventures for insurers and hospitals focus of Bloomberg BNA article from Locke Lord