Peru’s insurance regulator, the Superintendencia de Banca, Seguros y AFP (“SBS”), recently announced that it has completed its drafting of new proposed regulations regarding microinsurance, which will now be opened for comment. …
Read More Peruvian Regulator Completes New Microinsurance Regulatory Project

This week, Wisconsin Governor Jim Doyle announced an emergency rule (the “Rule”) interpreting and implementing Section 632.895 (12m) of the Wisconsin Statutes which mandates that insurers and self-insured health plans provide coverage for the treatment of autism spectrum disorders.  Specifically, Section 632.895 (12m) requires that every disability insurance policy (except

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Read More Wisconsin Announces Emergency Rule for Implementation of Autism Coverage

Jeremy Cox will succeed Matthew Elderfield as CEO of the BMA at the beginning of next year. Matthew Elderfield, the current CEO of the BMA, is stepping down at the end of this year to take up the post of director of financial regulation at the Central Bank of Ireland. 

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Read More Bermuda: Cox appointed CEO of the Bermuda Monetary Authority (BMA) Effective 1 January 2010

At the lavish opening dinner of the AIRROC/Cavell Commutations and Networking Event 2009, Barbara Murray of Kemper was named as AIRROC’s run-off person of the year. 

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Read More Barbara Murray of Kemper Named as AIRROC’s Run-Off Person of the Year

American Life Insurance Company (Alico) recently received conditional authorization to operate in Costa Rica.  The company will now have 120 days to conform with further regulatory requirements, including the development of acceptable technological and marketing controls. …
Read More Alico Enters the Costa Rican Insurance Market

The 2009 AIRROC/Cavell Commutations and Networking Event in New Jersey USA, began yesterday, October 19, 2009, with Mark Everiss and Nick Pearson of Edwards Angell Palmer & Dodge amongst the record number of attendees at this event. 

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Read More AIRROC/Cavell Commutations and Networking Event 2009

The National Association of Insurance Commissioners (“NAIC”), at the Executive/Plenary session of its Fall National Meeting, adopted revisions to the Standard Valuation Model Law (“Valuation Model”) replacing the existing formula based approach for reserving life insurance policies with a principles based approach. 

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Read More NAIC Moves Towards Principles Based Reserving for Life Insurance

The Massachusetts Joint Committee on Financial Services recently held a hearing regarding H.B. 960 (the “Bill”), which would permit commercial fire policyholders to exclude terrorism from their coverage. …
Read More Massachusetts May Permit Exclusion Of Terrorism From Commercial Fire Policies