An act amending the Connecticut captive statute pursuant to Public Act No. 14-6 (the “Act”), reported here, has been signed by Connecticut Governor Dannel P. Malloy, and will take effect October 1, 2014.
Read More Update: CT Captive Insurance Amendments Effective October 1, 2014
Regulatory
Massachusetts to Replace Health Exchange Website Provider
By Troutman Pepper Locke on
Massachusetts health officials announced last week that it will replace its health insurance exchange website. According to media reports, the current website has had difficulty implementing the federal health laws (i.e., Obamacare), because it was designed to comply with state health laws (i.e., Romneycare). …
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CFPB’s Proposed Amendment to Regulation P Would Allow Financial Institutions That Limit Data-Sharing to Post Annual GLB Privacy Notices Online
On May 6, 2014, the Consumer Financial Protection Bureau (the “CFPB”) proposed an amendment to Regulation P (the “Proposed Amendment”) that would allow financial institutions that do not engage in certain types of information-sharing to largely cease mailing the annual consumer privacy notices required by the Gramm-Leach Bliley Act (“GLB”) if they post their privacy notices on their websites and meet certain other conditions. …
Read More CFPB’s Proposed Amendment to Regulation P Would Allow Financial Institutions That Limit Data-Sharing to Post Annual GLB Privacy Notices Online
COMPLIMENTARY SEMINAR – 13th Annual Half-Day Insurance and Reinsurance Seminar
Please join us on June 5, 2014 for our 13th Annual Half-Day Insurance and Reinsurance Complimentary Seminar being held in our New York Office.…
Read More COMPLIMENTARY SEMINAR – 13th Annual Half-Day Insurance and Reinsurance Seminar
CT Seeks to Amend Captive Insurance Law in Continued Effort to Attract Captives
By Troutman Pepper Locke on
Public Act No. 14-6 (the “Act”), which would amend Connecticut’s captive law, has passed both the Connecticut State Senate and House of Representatives, and is on its way to Governor Malloy’s desk for signature. …
Read More CT Seeks to Amend Captive Insurance Law in Continued Effort to Attract Captives
SAVE THE DATE – 13th Annual Half-Day Insurance and Reinsurance Seminar
Please join us on June 5, 2014 for our 13th Annual Half-Day Insurance and Reinsurance Complimentary Seminar being held in our New York Office. …
Read More SAVE THE DATE – 13th Annual Half-Day Insurance and Reinsurance Seminar
“Dormant Status” Now Granted Under Vermont Captives Law
By Troutman Pepper Locke on
On April 15, 2014, legislation was passed in Vermont enhancing the state’s captive law. H.563, known as “An Act Relating To Captive Insurance Laws And Accreditation Standards,” allows a “dormant” captive to maintain licensing status within Vermont. …
Read More “Dormant Status” Now Granted Under Vermont Captives Law
U.S. Department of Labor Gives Final Approval for Intel Corp. to Use its Hawaiian Captive Insurer to Fund Certain Employee Benefit Risks
By Troutman Pepper Locke on
The U.S. Department of Labor (“DOL”) has given final approval for Intel Corp. to use its Hawaii-based captive insurer to reinsure group term life insurance and accidental death and dismemberment policies issued by Minnesota Life Insurance Co. …
Read More U.S. Department of Labor Gives Final Approval for Intel Corp. to Use its Hawaiian Captive Insurer to Fund Certain Employee Benefit Risks
Texas Regulators Adopt Rules Implementing Captive Insurance Laws
By Troutman Pepper Locke on
The Texas Department of Insurance (TDI) has adopted new rules implementing provisions of the Texas Insurance Code that remove regulatory barriers for captives. The new rules go into effect on April 27, 2014. …
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New York State Department of Financial Services Circular Letters Regarding Disaster Preparedness
By Troutman Pepper Locke on
On March 31, 2014, the New York State Department of Financial Services (“DFS”) issued three separate Circular Letters pursuant to various laws, including Insurance Law Sections 308, 1109, 2130 and 7001, Articles 42, 44 through 47, 52 through 55 and 59, and Financial Services Law Sections 202 and 306, setting forth standards expected of the “addressees” (as defined below) in planning, preparing for and responding to disasters in New York State. …
Read More New York State Department of Financial Services Circular Letters Regarding Disaster Preparedness