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Although all of the Latin American jurisdictions had notable regulatory and market developments in 2008, Argentina stands out as particularly significant given the size of the market involved and the fundamental nature of the developments seen there in the past year. …
Read More Argentina: Major Insurance and Reinsurance Developments in 2008

On January 14, 2009, the U.S. House of Representatives passed the Children’s Health Insurance Program Reauthorization Act of 2009 (H.R. 2) (the “Act”) by a vote of 289-139.  The Act would expand coverage and extend the effective date of the State Children’s Health Insurance Program (“SCHIP”), which is set to expire at the end of 2009 fiscal year. 

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Read More SCHIP Bill Passed Again By House

At 1:21 p.m. local time on January 8, 2008, an earthquake measuring 6.2 on the Richter scale occurred in the Central American country of Costa Rica.  It left 18 people dead, 40 missing and hundreds injured.  The earthquake also caused landslides that blocked a number of roads, displaced approximately 1,200 residents and damaged several hotels and major businesses. …
Read More (Re)emerging Mercados: Significant Recent Developments in the Latin American Insurance and Reinsurance Markets

The State of Connecticut Department of Insurance (the “Department”) has recently stated that de minimis gifts not exceeding $15 in aggregate value per year are permissible under Connecticut’s anti-rebating statute, Conn. Gen. Stat. § 38a-825. 

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Read More The State of Connecticut Insurance Department Issues Guidance on Connecticut’s Anti-Rebating Statute

We reported last year on the SEC’s and FSA’s bans on short selling in financial companies (see the post by clicking here). The FSA has now published a consultation paper reviewing the short selling measures that it implemented last year, which are due to expire on 16 January 2009. Those measures required disclosure to the market of significant (greater than 0.25% of the issued share capital) short positions in UK financial sector companies and banned the creation of, or increase of existing, short positions in those companies. 

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Read More UK: FSA Consults on Changes to Short Selling Rules