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The IRS delayed application of the nondiscrimination rules under Internal Revenue Code section 105(h) to fully-insured group health plans. This IRS notice is welcome relief to employers who lacked any substantive guidance on how to structure their group health plans and other arrangements to comply with these rules. …
Read More The IRS Delivers Welcome Relief to Fully Insured Group Health Plans by Delaying Affordable Care Act Nondiscrimination Rules

As expected, New York Governor Andrew Cuomo announced during his State of the State address plans to merge the Insurance Department with the Banking Department and Consumer Protection Board in order to create a new Department of Financial Regulation.  Governor Cuomo stated that the merger is necessary to properly regulate modern financial services organizations and the “primary mission of this new agency will be to stand up for consumers, protect them against predatory lending and unlawful foreclosure practices, and provide access to good, honest and capable financial services at competitive rates.” …
Read More UPDATE: New York Governor Formally Announces Plan To Merge Insurance Department with Banking Department

According to reports, it is anticipated that incoming New York Governor Andrew Cuomo will announce during his State of the State Address tomorrow, January 5, 2011, plans to merge the Insurance Department and Banking Department into a single agency in an effort to reduce costs and improve efficiency.  Such a merger would require approval from the New York State Legislature before it would become effective. …
Read More BREAKING NEWS: New York Governor To Propose Merger of Banking and Insurance Departments

In December, the National Council of Private Insurance (CNSP) published Resolutions Nos. 224/10 and 225/10, each amending Resolution 168/07.  Resolution 224, which becomes effective January 31, 2011, provides that insurance risks in Brazil cannot be ceded to companies abroad that belong to the same financial group. …
Read More Brazil – Recent Insurance Regulations