GRASSLEY URGES ACTION ON SUNSHINE ACT
In a January 22 letter to the White House, Sen. Chuck Grassley (R-IA) bemoaned the administration’s continued delay in implementing the Physician Payments Sunshine Act, part of the Patient Protection and Affordable Care Act (PPACA). The Sunshine Act requires that physicians report to the Department of Health and Human Services (HHS) their ownership and investment interests in, and payments or gifts that they receive from, manufacturers of drugs, devices and supplies.
Read More Healthcare Update: Grassley Urges Action on Sunshine Act; HHS Awards New Exchange Grants

The U.S. Reinsurance Under 40s Group will be hosting its first social event of the year this Wednesday, January 30th, at Three Sheets Saloon, which is located on 134 West 3rd Street (between 6th Avenue and MacDougal St.). The event will kick-off at 5:30 pm, and include various drink specials until closing. …
Read More Please Join the U.S. Reinsurance Under 40s Group for its First Social Event of 2013

The Supreme Court has for the first time confirmed the existence of dual vicarious liability in the landmark ruling of The Catholic Child Welfare Society and others v Various Claimants (FC) and The Institute of the Brothers of the Christian Schools and others [2012] UKSC 56. …
Read More UK: Supreme Court Child Abuse Ruling Has Important Implications for Insurance Industry

The New Year seems to be starting with a bang for the ILS industry. On January 23rd, KKR announced it had taken a 24.9% stake in Nephila. Earlier in the month Validus reported a $400 million capital raise to fund investments in collateralized reinsurance and ILS. In a transaction on which Edwards Wildman Palmer LLP advised Transatlantic Re, Transatlantic Re in December acquired a minority interest in Pillar Capital Management and announced a strategic partnership with Pillar, a manager of funds investing in collateralized reinsurance and ILS. …
Read More Will 2013 be the year of ILS?

In a press release issued on January 22, 2013, the National Association of Insurance Commissioners (NAIC) announced that former Nebraska Senator Bill Nelson has been named as CEO of the NAIC. In his new position, Nelson will be the primary advocate and chief spokesperson for the NAIC in Washington, D.C. …
Read More Ex-Senator Ben Nelson Has Been Named CEO of the NAIC

This is the first in a series of notes explaining a number of fundamental changes to the rules relating to funding of legal proceedings in England presently expected to come into force in April 2013. We will describe in later notes the new opportunities which will become available at that time. …
Read More After the Event Insurance–A Drink at the Last Chance Saloon

The Illinois Department of Insurance (“DOI”) issued Bulletin 2012-12 (“Bulletin”) on December 20, 2012, prohibiting the use of offshore third party administrators (“TPAs”) and utilization review organizations (“UR Organizations”) in connection with insurance contracts and healthcare plans covering Illinois residents. …
Read More Illinois Prohibits TPAs and UR Organizations from Performing Services Offshore

Rhode Island proposes to amend Insurance Regulation 29 (the “Regulation”) governing the activities of insurers and insurance producers with respect to the replacement of existing life insurance and annuity products by adding a new section to the Regulation on “twisting” and “churning” practices (the “Proposed Rule”). …
Read More Rhode Island Proposes to Amend its Life Insurance and Annuities Replacement Rule