This presentation will be of interest to anyone working in, or advising, an international insurance or reinsurance group. It will also be of interest to reinsurers based outside the European Union with reinsureds based inside the Union.
Read More WEBINAR: Solvency II – Capital Requirements, Groups and Third Country Equivalence -Thursday, May 31, 2012
Topics
California Legislation Relaxing Credit for Reinsurance Collateral Requirements Continues to Advance
By Troutman Pepper Locke on
California’s Senate Insurance Committee recently approved in a unanimous vote SB 1216 (the “Bill”). …
Read More California Legislation Relaxing Credit for Reinsurance Collateral Requirements Continues to Advance
Potential Insurance Implications of the JOBS Act
By Troutman Pepper Locke on
Posted in Federal Legislative Developments, United States
On April 5, 2012, President Obama signed the JOBS (Jumpstart Our Business Startups) Act into law. A primary goal of the legislation is to facilitate the ability of growing companies to raise capital. …
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Healthcare Update: CMS Issues Proposed IPPS Rule; PPACA Expected to Save $200 Billion Through 2016
By Troutman Pepper Locke on
Posted in Healthcare, United States
CMS ISSUES PROPOSED IPPS RULE
On April 24, the Centers for Medicare and Medicaid Services (CMS) issued its proposed Inpatient Prospective Payment Systems (IPPS) rule setting forth hospital payment rate changes for the 2013 fiscal year, which begins October 1, 2012. …
Read More Healthcare Update: CMS Issues Proposed IPPS Rule; PPACA Expected to Save $200 Billion Through 2016
UK: Court of Appeal Construes War Risks Policy Exclusion According to its Plain Meaning
By Troutman Pepper Locke on
Posted in Coverage & Claims, United Kingdom
In Atlasnavios-Navegação, LDA v. Navigators Insurance Company Limited & Others [2012] EWHC 802 (Comm), the Commercial Court had to decide, as a preliminary issue, the meaning of clause 4.1.5 of a war risks policy, which incorporated the Institute War and Strikes Clauses 1.10.83 (the Policy). …
Read More UK: Court of Appeal Construes War Risks Policy Exclusion According to its Plain Meaning
Panama Passes New Insurance Law
By Troutman Pepper Locke on
Posted in Latin American Developments
Panama has passed a new Insurance Law which aims to boost the country’s insurance industry and changes the way local and foreign companies do business there.
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FSOC Issues Rule for “Nonbank SIFIs”
By Troutman Pepper Locke on
Posted in Regulatory, United States
In April 2012, the Financial Stability Oversight Council (“FSOC”) issued its Final Rule (the “Rule”) and interpretive guidance on the regulation of systemically important nonbank financial companies, or what many refer to as SIFIs (i.e., “systemically important financial institutions”). …
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UK: FSA Speech: A New Approach to Insurance Regulation & the Implementation of Solvency II – Comments on the Resolution of Insurers
By Troutman Pepper Locke on
Posted in Solvency II, United Kingdom
In a speech given at the City & Financial Conference on 19 April 2012, (see our blog here) Julian Adams, Director of Insurance Supervision in the Prudential Business Unit of the Financial Services Authority (FSA), described the supervisory strategy to be followed by the Prudential Regulatory Authority when it takes over responsibility for insurance supervision in 2013. …
Read More UK: FSA Speech: A New Approach to Insurance Regulation & the Implementation of Solvency II – Comments on the Resolution of Insurers
EU: Solvency II: FSA Gives Initial Feedback to Firms About Their Pre-Application Submissions for Internal Model Approval
By Troutman Pepper Locke on
Posted in European Union, Solvency II
On 19 April 2012, Julian Adams, Director of Insurance Supervision in the Prudential Business Unit of the Financial Services Authority (FSA), gave a speech at the City & Financial Conference entitled “The new approach to insurance regulation and the implementation of Solvency II”. …
Read More EU: Solvency II: FSA Gives Initial Feedback to Firms About Their Pre-Application Submissions for Internal Model Approval
Oregon Adopts Captive Legislation
By Troutman Pepper Locke on
Posted in Regulatory, United States
Oregon Governor John Kitzhaber recently signed S.B. 1547 into law, making Oregon the latest state to permit the formation of captive insurance companies. S.B. 1547 allows for the formation of pure captives, association captives, branch captives, and captive reinsurers. …
Read More Oregon Adopts Captive Legislation