Topic: Captives

New York State Department of Financial Services Circular Letters Regarding Disaster Preparedness

On March 31, 2014, the New York State Department of Financial Services (“DFS”) issued three separate Circular Letters pursuant to various laws, including Insurance Law Sections 308, 1109, 2130 and 7001, Articles 42, 44 through 47, 52 through 55 and 59, and Financial Services Law Sections 202 and 306, setting forth standards expected of the “addressees” (as defined below) in planning, preparing for and responding to disasters in New York State. 

Read More

FIO Weighs in on Financial Captive Reinsurers and the Use of PBR

On December 12, 2013, the Federal Insurance Office (the “FIO”) published its long-delayed report entitled “How to Modernize and Improve the System of Insurance Regulation in the United States” (the “Report”). The FIO was required under Title V of the Dodd-Frank Wall Street Reform and Consumer Protection Act to issue the Report almost two years ago. 

Read More

Does NRRA Capture Captives?

Continuing the controversy first discussed in our earlier article (a copy of which can be accessed here), uncertainty remains over whether the self-procurement tax and regulatory provisions of the Non-admitted and Reinsurance Reform Act, enacted as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, apply to non-admitted insurance procured from a captive insurance company. 

Read More

InsurTech

Topics

Archives

Email the Editor

Click here to Email the Editor

Locke Lord LLP

For the latest information about our Firm visit lockelord.com