United States Archives - Page 2 of 288 - Insurance & Reinsurance

Rhode Island Department of Business Regulation Allows Insurers to Use Blockchain Technology

by Matthew Murphy | Dec 17, 2018 | InsurTech, Regulatory | United States

With an eye towards the growing use of blockchain technology in the digital age, the Rhode Island ‎‎Department of Business Regulation (DBR) has published Insurance Bulletin Number 2018-17 to clarify ‎‎that it allows insurers doing business in the state to use blockchain or distributed ‎‎ledger technology, which DBR defines to mean “the use of a distributed, decentralized, shared, and ‎‎replicated ledger, which may be public or private, permissioned or permissionless, or driven by ‎‎tokenized crypto economics or tokenless.

Texas Revamps Surplus Lines Regulations

by Christopher Martin | Dec 14, 2018 | Excess and Surplus Lines, Regulatory, Texas Developments | United States

The Texas Commissioner of Insurance has announced the repeal and replacement of provisions Chapter 15 Texas Administrative Code related to the regulation of surplus lines insurance. The proposed new rules were originally published in June, 2018 and have been adopted with modification.

Raymond G. Farmer to Continue as Director of the South Carolina Insurance Department

Dec 14, 2018 | State Legislative Developments | United States

Raymond G. Farmer will continue as the Director of the South Carolina Insurance Department as announced recently by South Carolina Governor Henry McMaster. Mr. Farmer has served as the Director of Insurance in South Carolina since 2012 when he was appointed by then Governor Nikki Haley.

Julie Mix McPeak Reappointed as Tennessee Insurance Commissioner by Governor-Elect Bill Lee

Dec 13, 2018 | State Legislative Developments | United States

Tennessee Governor-Elect Bill Lee has reappointed Julie Mix McPeak as the Tennessee Insurance Commissioner. Julie Mix McPeak has served as the Insurance Commissioner in Tennessee since 2011 and was previously the Executive Director of the Kentucky Office of Insurance.

US Treasury Announces New Covered Agreement on Insurance and Reinsurance Regulation with UK

by John Emmanuel | Dec 12, 2018 | Brexit, Industry Developments, Regulatory, Reinsurance | United Kingdom, United States

The U.S. Department of the Treasury and the Office of the U.S. Trade Representative announced on December 11, 2018 that they intend to sign a new Bilateral Agreement between the U.S. and the U.K. on Prudential Measures Regarding Insurance and Reinsurance (“Covered Agreement”).

Don’t Throw Me into the Briar Patch – Consolidation of Reinsurance Arbitration

by Jonathan Bank, Matthew Murphy | Dec 11, 2018 | Reinsurance | United States

Employers Insurance Company of Wausau (“Wausau”) recently was adverse to The Hartford ‎‎(“Hartford”), creating a procedural briar patch in a California federal court over the issue of ‎consolidation of multiple disputes under different reinsurance treaties.‎

Enstar pulled the trigger faster than Annie Oakley‎

by Jonathan Bank, Matthew Murphy | Dec 10, 2018 | Arbitration, Industry Developments, Insolvency, Insurance Linked Securities (ILS), InsureTerms, InsurTech, Lloyd's, Regulatory, Reinsurance, Restructuring and Run-Off | United States

Both Rhode Island and Oklahoma have enacted insurance business transfer acts, which allow insurers to transfer and novate books or portfolios of business to insurers domiciled in the respective States. Rhode Island’s Voluntary Restructuring of Solvent Insurers Act became effective on June 30, 2007, and is codified by the Rhode Island Department of Business (“DBR”) Regulation 68.

NCOIL to Consider Resolution Asserting McCarran-Ferguson Reverse Preemption over the Supervision of Insurance

by Aaron Igdalsky | Dec 3, 2018 | Regulatory | United States

When the National Council of Insurance Legislators (“NCOIL”) holds its Annual Meeting in Oklahoma City later this week, it will consider a proposed resolution entitled the “Resolution Asserting McCarran-Ferguson Reverse Preemption over the Supervision of Insurance Companies by the Federal Reserve Board and its Examiners” (“Proposed Resolution”).

Hartford InsurTech Hub Chooses 10 New Startups

by Alexandra Cavaliere | Nov 29, 2018 | InsurTech | United States

Yesterday Hartford InsurTech Hub, powered by Startupbootcamp, concluded their Selection Days where investors, partners and mentors met with 22 promising startups.

OFAC Advisory to Maritime Shipping Industry

by Geoffrey Etherington | Nov 20, 2018 | Reinsurance, Sanctions | United States

On September 20, 2018 the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) issued “OFAC Advisory to the Maritime Petroleum Shipping Community” to alert the shipping industry participants, including insurers, as to sanctions risks relating to petroleum shipments to or from Syria.

Jurisdiction: United States

Rhode Island Department of Business Regulation Allows Insurers to Use Blockchain Technology

Texas Revamps Surplus Lines Regulations

Raymond G. Farmer to Continue as Director of the South Carolina Insurance Department

Julie Mix McPeak Reappointed as Tennessee Insurance Commissioner by Governor-Elect Bill Lee

US Treasury Announces New Covered Agreement on Insurance and Reinsurance Regulation with UK

Don’t Throw Me into the Briar Patch – Consolidation of Reinsurance Arbitration

Enstar pulled the trigger faster than Annie Oakley‎

NCOIL to Consider Resolution Asserting McCarran-Ferguson Reverse Preemption over the Supervision of Insurance

Hartford InsurTech Hub Chooses 10 New Startups

OFAC Advisory to Maritime Shipping Industry

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