Regulatory Archives - Page 165 of 166 - Insurance & Reinsurance

SEC On The Verge Of Making Announcements Regarding Stock Options Investigations

Jul 20, 2007 | D&O Liability, Regulatory | United States

The Chairman of the United States Securities and Exchange Commission told reporters recently that the SEC is close to making announcements regarding ongoing stock options investigations. The Chairman said that the SEC believes it has “rounded up” most of the companies that improperly backdated options.

Florida’s Claims Administration Statute: Use it or Lose it

Jul 20, 2007 | Coverage & Claims, Florida Developments, Regulatory | United States

An Insurer issuing liability policies in Florida must comply with Florida’s Claims Administration Statute, Florida Statutes §627.426, or risk waiving otherwise viable “coverage defenses.”

Missouri Governor Signs Legislation Allowing Formation of Captive Insurers

Jul 17, 2007 | Regulatory | United States

As of August 28, 2007, Missouri will become the latest state to allow the formation of captive insurance companies.

Congress Considering Reforms to National Flood Insurance Program

Jul 17, 2007 | Catastrophe Claims, Federal Legislative Developments, Regulatory | United States

Rep. Gene Taylor (D-MS) has introduced H.R. 920, entitled the “Multiple Peril Insurance Act of 2007,” to the United States House of Representatives in response to the denial of claims from Hurricane Katrina due to wind loss.

Connecticut Outlaws Post-Claim Underwriting by Health Insurers

Jul 11, 2007 | Connecticut Developments, Healthcare, Regulatory | United States

The Connecticut General Assembly recently enacted legislation (Public Act 07-113), signed into law by Governor M. Jodi Rell on June 12, to prohibit health insurers or HMOs (termed “health care centers” under Connecticut law) from engaging in the practice of “post-claim underwriting.”

Proposed EU Insurance Capital Rules

Jul 11, 2007 | Regulatory, Solvency II | European Union, United States

On June 10, 2007, the European Commission in Strasbourg formally introduced the Solvency II Directive. Solvency II proposes to modify current capital requirements for insurance companies.

SEC New Rules for Rating Agencies

Jul 3, 2007 | Industry Developments, Regulatory | United States

On June 26, 2007, final Securities and Exchange Commission (“SEC”) rules implementing the Credit Rating Agency Reform Act of 2006 (“Rating Agency Act”) and certain provisions of the Rating Agency Act went into effect.

House Passes Nonadmitted and Reinsurance Reform Act

Jun 26, 2007 | Excess and Surplus Lines, Federal Legislative Developments, Regulatory, Tax Related Developments | United States

On June 25 and for the second time in nine months, the House unanimously passed H.R. 1065, the Nonadmitted and Reinsurance Reform Act of 2007. The bill establishes national standards on how states may regulate and tax surplus lines insurers and also sets national standards concerning the regulation of reinsurance.

SEC Proposes Changes to Foreign Company Accounting Rules

Jun 22, 2007 | Regulatory | United States

On June 20th, the U.S. Securities and Exchange Commission (the “SEC”) approved a proposal that, if ratified, could allow foreign companies doing business in the United States to choose between filing data using international financial reporting standards (“IFRS”) or the U.S. generally accepted accounting procedures (“GAAP”). This change would bring the U.S. closer to other major financial centers that currently welcome IFRS.

House Democrats Introduce Bill to Extend and Expand the Federal Terrorism Risk Insurance Program

Jun 22, 2007 | Federal Legislative Developments, Regulatory, Terrorism Risk and Insurance | United States

On June 18, Representatives Barney Frank and Michael Capuano, both Democrats from Massachusetts, introduced legislation that would extend and expand the federal Terrorism Risk Insurance Program. The Terrorism Risk Insurance Revision and Extension Act of 2007 seeks to extend federal reinsurance coverage for terrorism risks for ten more years.

Topic: Regulatory

SEC On The Verge Of Making Announcements Regarding Stock Options Investigations

Florida’s Claims Administration Statute: Use it or Lose it

Missouri Governor Signs Legislation Allowing Formation of Captive Insurers

Congress Considering Reforms to National Flood Insurance Program

Connecticut Outlaws Post-Claim Underwriting by Health Insurers

Proposed EU Insurance Capital Rules

SEC New Rules for Rating Agencies

SEC Proposes Changes to Foreign Company Accounting Rules

House Democrats Introduce Bill to Extend and Expand the Federal Terrorism Risk Insurance Program

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