The Financial Services Authority (FSA) issued a Dear CEO letter (the Letter) on 23 February 2010 stating that it was concerned that many insurance intermediaries could not demonstrate that they had adequate financial resources.
Read More UK: Financial Services Authority Reminds Insurance Intermediaries of Financial Resources Requirements
Jurisdictions
Last Week in DC: The Healthcare Reform Debate – March 1, 2010
By Troutman Pepper Locke on
The White House released its own healthcare reform bill last week, in preparation for Thursday’s marathon healthcare summit. Despite its bipartisan billing, that six hour session did not yield tangible progress, leaving Democrats exactly where they were before the summit – faced with the question of how to move comprehensive healthcare reform forward without any help from the minority party.
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Read More Last Week in DC: The Healthcare Reform Debate – March 1, 2010
UK: Interpretation of Actual and Constructive Total Loss Under the Marine Insurance Act 1906
By Troutman Pepper Locke on
Posted in Coverage & Claims, United Kingdom
Masefield AG v Amlin Corporate Member Ltd [2010] EWHC 280 (Comm) concerned the interpretation of actual and constructive total loss under the Marine Insurance Act 1906.
Medicare Secondary Payer Reporting Deadline Extended
By Troutman Pepper Locke on
Posted in Healthcare, United States
The Centers for Medicare & Medicaid Services (“CMS”) has revised the timeline for non-group health plan (“NGHP”) reporting under the Medicare secondary payer reporting provisions of Section 111 of the Medicare, Medicaid and SCHIP Extension Act of 2007 (“Section 111”). …
Read More Medicare Secondary Payer Reporting Deadline Extended
House Introduces Health Insurance Bill to Repeal Antitrust Exemption
By Troutman Pepper Locke on
On Monday, February 22, Representatives Tom Perriello (D-Va.) and Betsy Markey (D-Colo.) introduced H.R. 4626, the Health Insurance Industry Fair Competition Act, to repeal the McCarran-Ferguson Act antitrust exemption for the business of health insurance. …
Read More House Introduces Health Insurance Bill to Repeal Antitrust Exemption
Business Associate Regulations Effective; Enforcement Uncertain
By Troutman Pepper Locke on
New requirements making the HIPAA privacy and security rules applicable to business associates of healthcare entities became effective on February 17, 2010. However, the new requirements, under the the Health Information Technology for Economic and Clinical Health (“HITECH”) Act, may not be enforced immediately.
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Read More Business Associate Regulations Effective; Enforcement Uncertain
UK: Fabrication of Documents
By Troutman Pepper Locke on
Posted in Coverage & Claims, United Kingdom
In Yechiel v Kerry London Limited [2010] EWHC 215 (Comm) the High Court had to decide whether Norwich Union had been notified by Yechiel’s insurance brokers, Kerry London, that Yechiel would be removing jewellery valued at £133,600 from a Selfridges safe deposit box for more than 14 days.
UK: Third Party (Rights Against Insurers) Bill
By Troutman Pepper Locke on
Posted in Regulatory, United Kingdom
As previously reported here, the Third Parties (Rights Against Insurers) Bill was introduced into Parliament in November 2009. It is designed, in particular, to remedy the shortcomings of current legislation in protecting the rights of third party claimants against insurers of the liabilities of insolvent defendants.
Join the U.S. Re Under 40s at the “It’s Almost Spring” Happy Hour
By Troutman Pepper Locke on
Please join the U.S. Reinsurance Under 40s Group at the upcoming “It’s Almost Spring” Happy Hour — March 4, 2010 at Social at 6:00 p.m. — to celebrate the end of the winter.
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Read More Join the U.S. Re Under 40s at the “It’s Almost Spring” Happy Hour
Last Week in DC: The Healthcare Reform Debate – February 22, 2010
By Troutman Pepper Locke on
With Congress in recess last week, the White House worked behind the scenes to craft a healthcare reform bill that will be used as a basis for moving forward during the bipartisan healthcare summit scheduled for this week. Meanwhile, more and more Democratic Senators formally voiced their support for reviving the controversial public option and using the budget reconciliation process to pass a final bill. …
Read More Last Week in DC: The Healthcare Reform Debate – February 22, 2010