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On September 12, 2012, the National Association of Insurance Commissioners (NAIC) issued a press release announcing adoption of a new model law, the Risk Management and Own Risk Solvency Assessment Act. The requirements of this Act will become effective on January 1, 2015. …
Read More NAIC Announces Adoption of Risk Management and Own Risk Solvency Assessment (ORSA) Model Act

The  Marcellus Shale Coalition will be hosting SHALE GAS INSIGHT™ 2012 at the Pennsylvania Convention Center in Philadelphia from Wednesday, September 19, through Friday, September 21.  Edwards Wildman attorneys Marc Voses, Tony Hopp, Len Kurfirst and Greg Hoffnagle will provide live updates throughout the conference at www.InsureReinsure.com and @EdwardsWildman on Twitter. …
Read More Edwards Wildman to Attend Premier Industry Fracking Conference in Philadelphia

HEALTHCARE HEARINGS SCHEDULED AS CONGRESSIONAL RECESS ENDS
Congress’s annual August recess ended today and both House and Senate groups have scheduled hearings this week relating to implementation of the Patient Protection and Affordable Care Act (PPACA). …
Read More Healthcare Update: Healthcare Hearings Scheduled as Congressional Recess Ends

CMS RELEASES MEANINGFUL USE STAGE 2 FINAL RULE
On August 23, the Centers for Medicare & Medicaid Services (CMS) released a final rule outlining the Stage 2 criteria for the Medicare and Medicaid Electronic Health Record (EHR) Incentive Programs. Eligible professionals (EPs), eligible hospitals, and critical access hospitals (CAHs) must meet these requirements to receive EHR incentive payments. CMS issued a fact sheet on the rule. …
Read More Healthcare Update: CMS Releases Meaningful Use Stage 2 Final Rule; Medicare to Pay Bonuses to Primary Care Physicians; ICD-10 Delayed One Year; States Receive New HHS Grants for Healthcare Exchanges

This updates our June 12, 2012 blog posting.

The California State Legislature has unanimously passed SB 1216 and SB 1448, both of which follow model laws recently put forth by the National Association of Insurance Commissioners (“NAIC”). …
Read More UPDATE: California State Legislature Approves NAIC Model Laws Regarding Enterprise Risk and Collateral Reduction for Alien Reinsurers; Bills with Governor for Signature

The Supreme Court may hear arguments this fall regarding whether former plan beneficiaries can bring ERISA claims against the plan’s investment adviser without pre-suit demands, and whether those same parties can bring claims under Sections 47(b) of the Investment Company Act. …
Read More Supreme Court Petitioned to Hear Appeal of 401(k) Fee Suit Involving Insurers’ ERISA Plans

The U.S. District Court for the Southern District of New York recently dismissed most of the claims in the long-running litigation over transfer agent fees collected on the Smith Barney family of funds.  See In re Smith Barney Transfer Agent Litig., No. 05 Civ. 7583 (WHP) (decision available here). …
Read More Transfer Agent Fee Litigation Saga (Almost) Comes to an End

The California Supreme Court last week handed down a major ruling endorsing the “all-sums-with-stacking” approach for insurance coverage in long-tail environmental claims. …
Read More California Adopts “All-Sums-With-Stacking” Rule in Decision that Maximizes Coverage Available to Policyholders

On August 6, 2012, Gov. Deval Patrick (D-MA) signed into law a nearly 350-page bill that builds on the health reform legislation signed into law by Gov. Mitt Romney in 2007, and supports the Patient Protection and Affordable Care Act. The legislation’s cost containment provisions are estimated to save Massachusetts up to $200 billion in healthcare costs over the next 15 years. …
Read More Client Advisory – Massachusetts Governor Signs Healthcare Payment Reform Bill