FSOC Amends Non-Bank Review Process
On Wednesday, the Financial Stability Oversight Council (FSOC) announced that it had changed its non-bank review process.
Read MoreFeb 6, 2015 | Federal Legislative Developments, Industry Developments, Regulatory
On Wednesday, the Financial Stability Oversight Council (FSOC) announced that it had changed its non-bank review process.
Read MoreFeb 6, 2015 | Federal Legislative Developments, Industry Developments, Regulatory, Terrorism Risk and Insurance
Earlier this week, the U.S. Department of Treasury Federal Insurance Office released Interim Guidance on implementation of the Terrorism Risk Insurance Program Reauthorization Act of 2015, which was signed into law last month after the prior program had expired on January 1.
Read MoreJan 29, 2015 | Federal Legislative Developments, Industry Developments, Terrorism Risk and Insurance
Since the Terrorism Risk Insurance Program Reauthorization Act was signed into law by President Obama on January 12, many have been waiting on guidance from the U.S. Treasury Department regarding implementation of the new program.
Read Moreby Anthony Sherman | Jan 15, 2015 | Federal Legislative Developments, Industry Developments, Regulatory
Anthony B. Sherman, partner in our Chicago office, discusses how Congress has put in place a mechanism to streamline nonresident licensing for insurance producers. The National Association of Registered Agents and Brokers Reform Act of 2015 was included in the federal legislation reauthorizing TRIA, the ‘‘Terrorism Risk Insurance Program Reauthorization Act of 2015” (H.R. 26) (TRIPRA), which President Obama signed into law on January 12, 2015.
Read MoreJan 13, 2015 | Federal Legislative Developments, Industry Developments, Terrorism Risk and Insurance
On Monday, President Obama signed into law the TRIA reauthorization bill that passed overwhelmingly in both the House and the Senate last week.
Read MoreJan 9, 2015 | Federal Legislative Developments, Industry Developments
The Senate overwhelmingly voted to pass the TRIA reauthorization, which passed on Wednesday in the House, by a vote of 93-4.
Read MoreJan 7, 2015 | Federal Legislative Developments, Industry Developments
The new Congress, which convened last Tuesday, took its first step toward the reauthorization of TRIA today when the House passed legislation to extend TRIA by a vote of 416-5, with one lawmaker voting present.
Read MoreJan 5, 2015 | Federal Legislative Developments, Industry Developments
President Obama has signed into law The Insurance Capital Standards Clarification Act, S. 2270, which loosens the Dodd-Frank capital restrictions on insurers.
Read Moreby Zachary Lerner | Dec 30, 2014 | Federal Legislative Developments, Industry Developments, New York Developments, Terrorism Risk and Insurance
As of December 31, 2014, the Terrorism Risk Insurance Program Reauthorization Act of 2007 (“TRIA”) will expire.
Read MoreDec 17, 2014 | Federal Legislative Developments, Industry Developments, Terrorism Risk and Insurance
The U.S. Senate adjourned for the year on Tuesday without passing an extension of TRIA. Strong opposition from retiring Senator Tom Coburn (R-OK) blocked a vote on the measure that was overwhelmingly supported by lawmakers in the House as well as the business community.
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