The Illinois Department of Insurance (“DOI”) has issued a notice of proposed amendments to the Insurance Department Consumer Complaints Rule ( 50 Ill. Adm. Code 926). The amendments will permit the DOI to share information related to a complaint against an entity licensed or registered under the Insurance Chapter (215)
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Regulatory
U.S. Department of Treasury Issues New TRIA Rules
This week, the U.S. Department of the Treasury (“Treasury”) promulgated additional rules affecting the Terrorism Risk Insurance Act (“TRIA”), which had been recently reauthorized in late 2015 (the “Rules”). Of particular note is that, in accordance with the recent reauthorization, Treasury is obligated to collect data on the terrorism market…
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Public Hearing Scheduled Regarding Proposed Illinois Rescission Rule
By Troutman Pepper Locke on
Posted in Regulatory, United States
The Illinois Department of Insurance (“DOI”) will hold a public hearing on December 19 in Chicago regarding proposed amendments to the Illinois Administrative Code that address insurance policy rescissions. The DOI proposed the amendments in light of numerous complaints regarding rescissions based on an alleged misrepresentations or material changes in…
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You’re Invited to a Complimentary Webcast: “Regulatory Requirements for Insurance E delivery and E-posting”
Posted in Regulatory
Locke Lord Attorneys’ Brian Casey and Patrick Hatfield, will be part of the panel of experts on December 13 that will discuss the regulatory requirements of e-posting and e-delivery and the best practices to keep in mind to ensure maximum adoption.
Tuesday, December 13, 2016
2:00 PM EST – 3:00…
No Thanksgiving Vacation for This Arbitration Award
By Troutman Pepper Locke on
A New York Federal Court recently rejected a cedant’s request to vacate an arbitration award on the grounds that it was in manifest disregard of the law or because the umpire failed to disclose his prior representation of the reinsurer. The court determined that the cedant failed to clear the…
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You’re Invited – NAIC Fall Meeting Cocktail Reception – December 11
By Troutman Pepper Locke on
Posted in Regulatory, Reinsurance
Locke Lord’s Regulatory & Transactional Insurance Practice Group Invites You to a Cocktail Reception & Hors d’oeuvre Buffet during the NAIC Fall 2016 National Meeting in Miami, FL.
Sunday, December 11, 2016
5:30 pm – 7:30 pm
La Côte
Fontainebleau Hotel (conference hotel)
4441 Collins Avenue
Miami Beach, FL
For…
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Vermont Issues Proposed Captive Rule
By Troutman Pepper Locke on
Posted in Regulatory, United States
The Vermont Department of Financial Regulation recently issued a proposed rule on Regulation C-81-2. The proposed rule, which will be the subject of a public hearing on December 5, clarifies annual reporting requirements of Vermont-domiciled captive insurance companies by adding details to the annual audit and certification of loss reserves.
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Please Join Us – Blockchain Insurance Summit
By Brian Casey & Troutman Pepper Locke on
Red Chalk Group presents this first of its kind event dedicated to the $1+ trillion insurance marketplace and designed for senior executives to engage leading industry and Blockchain experts as they address top-of-mind issues.
Tuesday, November 8, 2016
8:00 AM – 4:30 PM
UBS Tower
Conference Center on 2nd Floor…
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Locke Lord’s Insurance & Reinsurance Newsletter – September 2016
By Troutman Pepper Locke on
Locke Lord’s Insurance & Reinsurance Newsletter provides topical snapshots of recent developments in the fast-changing world of insurance. For further information on any of the subjects covered in the newsletter, please contact one of the members of our Insurance team.
- “When Does the Acquisition of a
…
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U.S., E.U. Representatives Continue to Work on Covered Agreement for Insurance and Reinsurance Measures
By Troutman Pepper Locke on
Posted in Regulatory
Earlier this week, European Union (“E.U.”) and U.S. representatives met in Brussels to continue to discuss a potential agreement concerning insurance and reinsurance matters. This is the third such meeting since the U.S. Department of the Treasury and the Office of the U.S. Trade Representative announced last November their intent…
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