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The District of Columbia Department of Insurance, Securities and Banking recently issued Bulletin 10-1B-04 (the “Bulletin”) providing insurers with guidance regarding the implementation of the Religious Freedom and Civil Marriage Equality Amendment Act of 2009 (the “Act”), which allows same sex couples to marry in the District of Columbia. …
Read More District of Columbia DOI Issues Bulletin on Nondiscrimination in Spousal Coverage

On 14 December 2010, the UK’s Office of Fair Trading (OFT) announced that it is to undertake a study of competition in the UK private healthcare market. Such studies, which typically last for 6-12 months, can lead to the OFT making recommendations to government on how competition could be improved and/or a full market investigation reference to the Competition Commission (CC). …
Read More UK: OFT to Launch Market Study into Private Healthcare

In the wake of the worldwide financial crisis and election of the UK’s coalition govrnment, HM Treasury proposed a wholesale overhaul of the financial regulatory system in the UK in a consultation document issued in July 2010 entitled “A new approach to financial regulation: judgement, focus and stability“. …
Read More UK: Treasury Publishes Responses to its Consultation on Reforming the Financial Regulatory System

We have previously reported here on the Equitable Life (Payments) Bill, which has been subject to scrutiny in the UK Parliament. The Bill is intended to give the Treasury statutory authority to make payments to eligible former and current Equitable Life Assurance Society (Equitable Life) policyholders who have been adversely affected by the maladministration of Government regulatory bodies in the regulation of Equitable Life prior to December 2001. …
Read More UK: Equitable Life (Payments) Bill – Update

This updates our June 1, 2010 posting.  The Texas Department of Insurance (“TDI”) has officially banned the use of discretionary clauses in insurance contracts with an order issued on December 3, 2010 (the “Order”).  The ban is the result of a petition filed by the Texas Office of Public Insurance Counsel (OPIC) on October 28, 2009 requesting the ban.  Subsequent to the petition, the TDI held a public hearing on July 12, 2010. …
Read More UPDATE: Texas Bans Use Of Discretionary Clauses In Insurance Contracts

This updates our November 1, 2010 posting.  On December 6, 2010, the New Jersey Senate Commerce Committee passed S.168 (the “Bill”) by a vote of 4-0, which would permit a captive insurance market to exist in New Jersey.  The Bill is based on Vermont’s captive insurance bill, which is viewed as the state model with the best design for the captive insurance market so far. …
Read More New Jersey Senate Makes Progress On Captive Insurance Bill