Topics

Subscribe to Topics via RSS
On Friday, the House passed its 1,200+ page package of nine bills to reform the U.S. financial regulatory system by a vote of 223-202.  Passage of the comprehensive measure – the Wall Street Reform and Consumer Protection Act of 2009 (H.R. 4173) – wraps up months of House debate on the issue and marks an important step in the legislative process for one of the top priorities of the Obama Administration. 

…
Read More Details of House-Passed Financial Regulatory Reform Legislation

Debate on healthcare reform legislation continued on the Senate floor last week, while behind the scenes a tentative agreement was reached among Democrats on the controversial public insurance option.  As a result, further consideration of the Senate healthcare reform bill is temporarily on hold, as Democratic leaders await cost estimates on the new public option compromise. …
Read More Last Week in DC: The Healthcare Reform Debate – December 14, 2009

As discussed here and here, the New York Insurance Department (the “Department”) has drafted a new regulation regarding the transparency of insurance producer compensation.  The proposed rule, Regulation 194, would require insurance producers to disclose to clients information about their compensation. …
Read More Proposed Insurance Producer Transparency Regulation is Published in the New York State Register; Prompts Insurance Industry Trade Group to Prepare for Suit Against Regulators

As reported here, the Third Parties (Rights Against Insurers) Bill is slowly making its way through the UK parliamentary process. The proposed legislation, to allow claimants to sue an insolvent defendant’s insurer without having to establish the defendant’s liability first, is due for another reading in the House of Lords today. 

…
Read More UK: Third Parties (Rights Against Insurers) Bill, 2nd Reading in House of Lords

On December 2, 2009, the NAIC Valuation of Securities (E) Task Force adopted final assumptions (the Assumptions”) for the financial model used in determining risk based capital (“RBC”) for insurer owned residential mortgage-backed securities (“RMBS”). …
Read More NAIC Valuation of Securities (E) Task Force Adopt Assumptions for Residential Mortgage-Backed Securities

On Saturday, December 5, 2009, the National Association of Insurance Commissioners (“NAIC”) announced that U.S. insurance regulators entered into a Memorandum of Understanding (“MoU”) with the Agencia Nacional de Saude Suplementar (ANS), Brazil’s Insurance regulator for Health Plans and Health Insurance, during the NAIC Winter Meeting. 

…
Read More NAIC Announces New Cooperation Agreement with Brazil