Late last month, Arkansas enacted Senate Bill 45 (now Act 332, the “Act”), which amends state law to permit surplus lines insurers domiciled in Arkansas to write surplus lines insurance in the state.
Read More Arkansas Enacts Legislation to Allow for Domestic Surplus Lines Insurers
Troutman Pepper Locke
CMS Releases Proposed ACO Rule
By Troutman Pepper Locke on
Posted in Healthcare, United States
The Centers for Medicare and Medicaid Services (CMS) released its proposed rule for Accountable Care Organizations (ACOs) on March 31. …
Read More CMS Releases Proposed ACO Rule
NAIC Postpones Decision To Endorse Bill Advocating the Exclusion of Producer Commissions From the MLR Calculation
By Troutman Pepper Locke on
Earlier this week, the National Association of Insurance Commissioners (“NAIC”) decided that it needed more time to examine the medical loss ratio (MLR) issue before making a decision on whether it would endorse the Access to Professional Health Insurance Advisors Act of 2011 (H.R. 1206) (the “Act”). …
Read More NAIC Postpones Decision To Endorse Bill Advocating the Exclusion of Producer Commissions From the MLR Calculation
Director of Federal Insurance Office Named
By Troutman Pepper Locke on
Illinois Insurance Commission, Michael T. McRaith, has been selected by the Secretary of the Treasury as the first Director of the Federal Insurance Office (“FIO”), which was created by the Dodd – Frank financial reform legislation instituted last year. …
Read More Director of Federal Insurance Office Named
Brazil – Resolution 224/10 Repealed
By Troutman Pepper Locke on
Posted in Latin American Developments
On Monday, March 28, 2011, the National Council of Private Insurance (CNSP) published Resolution 232/11 repealing Resolution 224/10. Resolution 232/11 becomes effective today. …
Read More Brazil – Resolution 224/10 Repealed
Kentucky First to Enact SLIMPACT
By Troutman Pepper Locke on
On March 16, 2011, Kentucky Governor Steve Beshear signed into law the Surplus Lines Insurance Multi-State Compliance Compact (“SLIMPACT”). …
Read More Kentucky First to Enact SLIMPACT
UK: Bribery Act – Guidance Issued Today, Act to Come into Force on 1 July
By Troutman Pepper Locke on
Posted in Regulatory, United Kingdom
We have previously reported here that the implementation of the Bribery Act, 2010 (the Act) was to be delayed until after guidance on the Act has been issued. …
Read More UK: Bribery Act – Guidance Issued Today, Act to Come into Force on 1 July
Proposed Amendment to Vermont Captive Insurance Law
By Troutman Pepper Locke on
Posted in Regulatory, United States
The Captive Insurance Division of the Vermont Department of Banking, Insurance, Securities and Health Care Administration is proposing changes to its captive insurance law through bill H438. …
Read More Proposed Amendment to Vermont Captive Insurance Law
Chinese Drywall – Florida Federal Court Rules Pollution Exclusion Bars Coverage
By Troutman Pepper Locke on
Posted in Coverage & Claims, United States
United States District Court Judge K. Michael Moore of the Southern District of Florida has recently ruled that a pollution exclusion bars coverage for personal injuries and property damages associated with Chinese drywall. …
Read More Chinese Drywall – Florida Federal Court Rules Pollution Exclusion Bars Coverage
UK: Court of Appeal – Subrogation and Conditional Fee Agreements
By Troutman Pepper Locke on
Posted in Coverage & Claims, United Kingdom
In D Sousa v London Borough of Waltham Forest Council [2011] EWCA Civ 194 the Court of Appeal upheld an insurer’s right to recover a success fee paid under a Conditional Fee Agreement (CFA) as part of the recovery of its costs. …
Read More UK: Court of Appeal – Subrogation and Conditional Fee Agreements