Topic: Reinsurance

Revised California Reinsurance Regulations Allow California Domestics to Cede 100% of Business to Affiliates and Intercompany Pools

California’s reinsurance regulations (Cal. Code Regs. tit. 10, §§ 2303 – 2303.29) were amended effective the first of this year. The revisions included changes to update the regulations to comport with current law and current Department of Insurance practice.

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Behind the Curtain

In Golon, Inc. v. Selective Insurance Company of the Southeast, et al., a Pennsylvania federal court recently held that an insurer must produce information about its reinsurance program in an action in which the insured plaintiff alleged its insurer engaged in bad faith in refusing to settle an underlying negligence case.  The underlying case involved a motor vehicle accident resulting in the death of a child in which the insured’s employee pled guilty to vehicular homicide.

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Locke Lord QuickStudy: UPDATE: US and EU Negotiate Covered Agreement on Insurance and Reinsurance Regulation

As discussed in our prior QuickStudy issued on January 18, 2017, the US Federal Government and the European Union have come to an agreement on wide-ranging changes to reinsurance and establishment standards for the operation of insurance enterprises operating from one to another of these markets.

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