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On Tuesday, March 10, the Bipartisan Policy Center, which was created in 2007 by former Congressional leaders as a Washington D.C.- based think tank, announced it was launching an insurance task force. The task force would assess the impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act on…
Read More Bipartisan Policy Center Forms Insurance Task Force

The Federal Insurance Office has made it clear that it considers cyber insurance to play a crucial role in encouraging cyber security of companies as well as providing financial support for companies in the event of a cyber incident. Thus, for example, in comments at the quarterly meeting of the…
Read More FIO and States Working to Enhance Flow of Information within Cyber Insurance Industry

Recently, the Uniform Law Commission’s Committee to Revise the Uniform Unclaimed Property Act met in Washington and adopted uniform rules drafted by an advisory group. These approved recommendations are consistent with the Model Unclaimed Life Insurance Benefits Act which was adopted by the National Conference of Insurance Legislators last year.
Read More Committee Proposes Uniform Rules for Unclaimed Insurance Policies

Comments on the proposed revised guidance to be added to Financial Analysis Handbook related to reviewing form Change In Control Applications (attached) are due close of business today to Dan Daveline, NAIC Staff at . 

The comments will be discussed at the upcoming NAIC meeting in Phoenix.Read More Private Equity Issues Working Group-Exposed until COB Wednesday, March 11

South Dakota recently enacted legislation that will allow insurance agents and service contract producers (e.g. motor vehicle dealer) to form captive insurance companies to insure or reinsure the risks placed by or through such agency or service contract producer. The law, which does not got into effect until July…
Read More South Dakota Enacts Law Allowing Insurance Agents and Service Contract Producers to Form Captives

Secretary of the Treasury Jacob (Jack) Lew will preside over an executive session of the Financial Stability Oversight Council (Council) on Wednesday, March 11 at the Treasury Department. On the preliminary agenda is a discussion of central counterparties and an update on the Council’s 2015 annual report. In addition, the…
Read More Secretary Lew to Preside Over an Executive Session of the Financial Stability Oversight Council on March 11

In it Together: Emerging Joint Venture Structures for Hospitals and Insurers

Following the passage of the Affordable Care Act (the ACA), hospitals and physician practice groups, on the one hand, and health insurance and managed care companies, on the other hand, increasingly have focused on lowering health care delivery costs…
Read More Insights into emerging joint ventures for insurers and hospitals focus of Bloomberg BNA article from Locke Lord

The California Department of Insurance issued a bulletin on February 18, 2015 advising insurers that they may not use “price optimization” as a rating factor in California. The Department defines price optimization as “any method of taking into account an individual’s or class’s willingness to pay a higher premium relative…
Read More California Department Bans Price Optimization

The NAIC’s Private Equity Issues Working Group has exposed for comment the attached, proposed revised guidance to be added to Financial Analysis Handbook related to reviewing Change In Control Applications . Comments are due by Wednesday, March 11, 2015 and will be discussed at the NAIC National Meeting in…
Read More Private Equities Working Group Exposed Revised Guidance Until COB Wednesday, March 11