President Obama has signed into law The Insurance Capital Standards Clarification Act, S. 2270, which loosens the Dodd-Frank capital restrictions on insurers. The legislation makes changes to Section 171 of the Dodd-Frank Act, known as the Collins Amendment, by adding language clarifying that the Federal Reserve is not required to
Read More President Obama Signs Bill Loosening Dodd-Frank Capital Restrictions on Insurers Into Law
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New York Requires Insurer Information in Wake of TRIA Expiration
As of December 31, 2014, the Terrorism Risk Insurance Program Reauthorization Act of 2007 (“TRIA”) will expire.
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Senate Adjourns Without Passing TRIA Extension
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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House Passes TRIA Extension and Sends the Bill to Senate
On Wednesday, the House overwhelmingly passed an extension of TRIA by a vote of 417-7. The House vote is a step closer to ensuring the bill does not expire at years’ end.
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Congress Passes Bill Loosening Dodd-Frank Capital Restrictions on Insurers
By Troutman Pepper Locke on
Posted in Federal Legislative Developments, Regulatory
Congress passed a bill that will loosen the Dodd-Frank capital rules imposed on insurers.
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U.S. House to Vote on TRIA Extension
As the December 31st expiration of TRIA moves closer, House Majority Leader Kevin McCarthy (R-CA) announced yesterday that next week the House will vote on proposed legislation to ensure TRIA does not lapse at year’s end.
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Massachusetts Appeals Court Orders That 93A Claim Against Carrier Be Severed, Reverses Trial Court
By Troutman Pepper Locke on
Posted in Coverage & Claims, Massachusetts Developments
In Santacroce v. Sametz, a plaintiff brought suit against both the alleged tortfeasor for negligence, and the tortfeasor’s insurer for bad faith in violation of Mass. Gen. Laws chs. 176D and 93A. The insurer, as is often the case, moved to sever and stay the Chapter 176D and 93A claims. This motion was denied by the trial judge, who noted that “privileges [work product and attorney client] can be protected by less drastic methods than severance and staying these claims.”…
Read More Massachusetts Appeals Court Orders That 93A Claim Against Carrier Be Severed, Reverses Trial Court
Healthcare Update: New CMS Guidelines on Telemedicine Reimbursement; OIG Releases 2015 Work Plan; OCR Issues Bulletin on Privacy in Emergency Situations
By Troutman Pepper Locke on
Posted in Healthcare
Edwards Wildman’s latest Healthcare Update discusses that the New CMS Guidelines on Telemedicine Reimbursement; that OIG Releases 2015 Work Plan and OCR Issues Bulletin on Privacy in Emergency Situations.
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Edwards Wildman Looks Forward to Seeing You at the NAIC – November 15-17, 2014
By Troutman Pepper Locke on
Posted in Regulatory
In the long standing tradition of the attorneys of Edwards Wildman Palmer LLP we will be attending the Fall NAIC Meeting in Washington, D.C., November 15-17, 2014.
Read More Edwards Wildman Looks Forward to Seeing You at the NAIC – November 15-17, 2014
District of Massachusetts Finds Coverage Under A Professional Liability Policy In Underlying Case Centered On Unfair Competition
On October 28, the United States District Court for the District of Massachusetts denied an insurer’s motion for summary judgment in a coverage action it had brought against its insured on a professional liability policy, an insurance broker who specialized in the placement of professional liability coverage for professionals including real estate agents and brokers.
Read More District of Massachusetts Finds Coverage Under A Professional Liability Policy In Underlying Case Centered On Unfair Competition