On April 16, 2008, the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises held a hearing on proposals on insurance regulatory reform.
Read More Examining Proposals on Insurance Regulatory Reform
Regulatory
EU: European Commission (the Commission) to examine the use of insurance block exemption regulation
By Troutman Pepper Locke on
The Commission has begun a public consultation to investigate the functioning of the Insurance Block Exemption Regulation (BER) and the impact on the various insurance markets in the European Union (EU). …
Read More EU: European Commission (the Commission) to examine the use of insurance block exemption regulation
Lloyd’s enters Brazil
By Troutman Pepper Locke on
In February we reported that Lloyd’s was to apply for admission as a reinsurer in Brazil (see the post here: https://www.insurereinsure.com/BlogHome.aspx?entry=479).
U.S. House Bill Aims to Expand Commercial Property Insurance Options for Members of Risk Retention and Risk Purchasing Groups
United States House Representatives Dennis Moore (D-Kansas) and Deborah Pryce (R-Ohio) have recently introduced H.R. 5792, the Increasing Insurance Coverage Options for Consumers Act of 2008 (the “IICO Act”). …
Read More U.S. House Bill Aims to Expand Commercial Property Insurance Options for Members of Risk Retention and Risk Purchasing Groups
FSA: Insurance in a Wider Financial Context
By Troutman Pepper Locke on
Posted in Regulatory, United Kingdom
On 8 April Callum MCarthy, Chief Executive of the FSA, addressed the FSA’s annual Insurance Sector Conference on aspects of the wider financial context of the insurance industry.
FSA: International Developments in Insurance Regulation
By Troutman Pepper Locke on
Posted in Regulatory, United Kingdom
On 8 April Hector Sants, Chief Executive of the FSA, addressed the FSA’s annual Insurance Sector Conference on the subject of international developments in insurance regulation.
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UK: Regulatory: Public session held on Market Reform Contract (MRC) for Binders and Lineslips
By Troutman Pepper Locke on
As was reported in previous blogs, the Market Reform Group (MRG) has been at the forefront of contract certainty reforms.
Competition law White Paper issued: Potential exposure for the insurance industry
By Troutman Pepper Locke on
On 3 April 2008, the European Commission (The Commission) published its long awaited White Paper (WP) on damages actions for breach of the European Community (EC) antitrust rules. …
Read More Competition law White Paper issued: Potential exposure for the insurance industry
HM Treasury Publishes Responses Regarding its Part 7 Scheme Consultation
By Troutman Pepper Locke on
In the UK, insurance business transfer schemes (known as Part 7 transfers) allow an insurer or reinsurer to transfer portfolios of insurance or reinsurance business from another entity by way of a court sanctioned regulatory mechanism.
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Massachusetts To Allow Six-Month Automobile Policies
By Troutman Pepper Locke on
On April 3, 2008, Commissioner Nonnie Burns of the Massachusetts Division of Insurance issued a new bulletin permitting insurance companies to offer the option of purchasing automobile policies with six-month terms. …
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