On Wednesday, February 25, 2009, the House of Representatives passed legislation extending the National Flood Insurance Program (“NFIP”), which was set to expire in March.  As we reported here, Congress previously extended the NFIP at the end of September 2008. …
Read More Update: House of Representatives Approves NFIP Extension

The Missouri Senate recently confirmed Governor Jay Nixon’s selection of John H. Huff to become the next Director of the Missouri Department of Insurance, Financial Institutions and Professional Registration.  Huff has sixteen years of insurance experience.  For the past few years, he served as a managing director and strategic claims officer and supervised the strategic and emerging claims portfolio at Swiss Re. …
Read More John Huff Appointed New Missouri Insurance Director

Paul Taylor, the head of run-off supervision for insurance firms at the FSA, recently reiterated to the run-off sector that the FSA will object to solvent schemes of arrangement unless policyholders would be at least “no worse off” than in an ordinary solvent run-off. Although the FSA’s approval is not formally required for a scheme of arrangement to be implemented, it does have the power to object to a proposed scheme. …
Read More UK: FSA Says Solvent Schemes Must Leave Policyholders “No Worse Off”

Companion legislation has been introduced in the Florida House of Representatives and Senate to exempt surplus lines insurers from the provisions of Chapter 627, except when specifically stated otherwise, which contains Florida’s rate and form filing statutes. 

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Read More Florida Introduces Legislation to Exempt Surplus Lines Insurers from Form Filing Requirements

Thursday’s third session addressed the D&O risks and insurance issues that globalization poses for U.S. corporations doing business through subsidiaries abroad.  The Panel discussed the issues to keep in mind when placing D&O insurance for a global corporation and its foreign subsidiaries. 

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Read More LIVE PLUS UPDATE: International D&O: Solutions, Not Questions

We have reported previously on moves in the United States to regulate the credit default swaps (CDS) market (our most recent post can be found by clicking here. …
Read More Banks Commit to Clearing House for European Credit Default Swaps