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Locke Lord’s Insurance & Reinsurance Newsletter provides topical snapshots of recent developments in the fast-changing world of insurance. For further information on any of the subjects covered in the newsletter, please contact one of the members of our Insurance team.
Read More Insurance and Reinsurance Newsletter – January 2019

The U.S. Department of the Treasury and the Office of the U.S. Trade Representative announced on December 11, 2018 that they intend to sign a new Bilateral Agreement between the U.S. and the U.K. on Prudential Measures Regarding Insurance and Reinsurance (“Covered Agreement”).

In its press release, the U.S. Treasury…
Read More US Treasury Announces New Covered Agreement on Insurance and Reinsurance Regulation with UK

The National Association of Insurance Commissioners (NAIC) has directed its committees to move forward with amending the Reinsurance Model Law and Regulation (Models) to be consistent with  the EU/U.S. Covered Agreement signed last September.  The Covered Agreement eliminates collateral and physical presence requirements for EU/U.S. reinsurers.  States have 60 months…
Read More NAIC Panels to Begin Work on Model Law to Extend Covered Agreement to Non-EU Jurisdictions

Introduction

For many years, the European Union’s single market directives have allowed City of London firms to ‘passport’ their services across the European Economic Area (‘EEA’) and operate out of other member states without the need to obtain additional authorisation l to the one which they had obtained in a…

Read More What impact will Brexit have on the passporting rights of UK-based financial services?

This article examines some potential issues for UK re/insurers following the referendum vote for the UK to end its membership in the EU.

Prolonged period of uncertainty but “business as usual”?

One of the most significant concerns is that Brexit will bring about a prolonged and indefinite period of uncertainty…

Read More Brexit And The Re/Insurance Industry