On January 12, 2016 it was announced that Elizabeth Kelleher Dwyer was appointed as Rhode Island Department of Business Regulation’s Deputy Director and Superintendent of Insurance and Banking following former Deputy Director and Superintendent of Insurance and Banking, Joseph Torti’s retirement at the end of 2015.
Dwyer has fifteen years’…
Read More Rhode Island Appointment Elizabeth Dwyer as Insurance Superintendent
Please join BDO USA, LLP, Locke Lord LLP, and Sandler O’Neill + Partners, L.P. for a complimentary breakfast briefing. This event will highlight key considerations in a successful M&A transaction or capital raising transaction in today’s economic climate for the insurance industry.
Wednesday, January 20, 2016
Locke Lord LLP
750…
Read More Please Join Us – Insurance M&A and Capital Raising Roundtable – January 20
On December 18, 2015, Congress enacted the Protecting Americans from Tax Hikes Act of 2015, making, among other items, several significant changes to the provisions of Internal Revenue Code Section 831(b), which provides generally favorable tax treatment for electing small insurance companies. Certain of these changes…
Read More Congress Expands and Tightens Section 831(b) Small Insurance Company Election
Kevin M. McCarty has announced that he is resigning as the Florida Insurance Commissioner as of May 2, 2016. Commissioner McCarty is the only appointed Commissioner since the creation of the Florida Office of Insurance Regulation in 2003.
Link: http://www.floir.com/PressReleases/viewmediarelease.aspx?id=2141Read More Florida Insurance Commissioner Resigns
As previously reported here, the NAIC Cybersecurity Task Force proposed a “Cybersecurity Bill of Rights” (the “BOR”), which purported to state consumers’ rights related to information security. In the face of industry criticism of the draft BOR, including comment letters by the ACLI, NAMIC, the PIA, the Big I…
Read More NAIC Cyber Security Bill of Rights becomes “Roadmap”
Seven members of the Senate Banking Committee sent a letter to President Obama on December 15th requesting an update on when the thirteen nominations for the Board of Directors of the National Association of Registered Agents and Brokers (NARAB) will be announced. The bipartisan legislation to establish NARAB, which streamlines…
Read More Senators ask President to Appoint NARAB Board Members
Andy Tobin was named the interim superintendent of the Arizona Department of Financial Institutions by Governor Doug Ducey. He replaces Superintendent Lauren Kingry, following his resignation. Mr. Tobin is also the Director of the Arizona Insurance Department, a position he will continue to serve in. Mr. Tobin previously served in…
Read More Arizona Governor Names Interim Superintendent of Financial Institutions
On December 9, in Dorrance v. The United States, the Ninth Circuit overturned a favorable district court decision for taxpayers in demutualizations. The Ninth Circuit ruled that a taxpayer owning insurance policies in a mutual insurance company had a zero tax basis in the attendant membership rights which accompanied…
Read More Ninth Circuit Overturns Taxpayer-Friendly Decision in Demutualizations
A Wisconsin appellate court recently addressed the applicability of a Telephone Consumer Protection Act (TCPA) exclusion to claims of conversion and which policies are triggered in a TCPA class action. First, the court held the TCPA exclusion barred coverage and that the insurer had no duty to defend. The court…
Read More Wisconsin Appellate Court: A Single Policy is Triggered and its TCPA Exclusion Applies, Per the Allegations of the Class-Action Complaint
On December 4, 2015, President Obama signed the Highway Bill, dubbed Fixing America’s Surface Transportation Act (“FAST Act”), into law. Buried in the 490 page transportation law is a significant amendment to the Gramm-Leach-Bliley Act’s (“GLBA”) annual consumer privacy notice requirement. Specifically, section 75001 of the FAST Act, entitled “Eliminate…
Read More GLBA Annual Privacy Notice Eliminated under Certain Circumstances: Buried in a Highway Bill!In addition to cookies that are necessary for website operation, this website uses cookies and other tracking tools for various purposes, including to provide enhanced functionality and measure website performance. To learn more about our information practices, please visit our Global Privacy Notice.
