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.
In This Issue:
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Read More Insurance and Reinsurance Newsletter – September 2018
Rhode Island’s Insurance Business Transfer Act (“IBT”) (“Regulation 68”) permits the transfer and ‘novation’ of commercial ‘legacy business’ (subject to certain limitations) from one carrier to another, subject to court approval. It also permits the ultimate commutation of that business should the transferee, at some point in the future, determine…
Read More Rhode Island Seeks to Clarify Original Intent of Reg. 68
Chris Flanagan, Partner at Locke Lord LLP, and Jim Sabella, CPA and Tax Partner at Dixon Hughes Goodman LLP, will present a webinar on Tax Reform: Implications for Insurers and Reinsurers. This webinar is sponsored by CCIA Delta and hosted by 202works, and will provide key insights into the…
Read More Complimentary Invitation to CCIA Delta Tax Webinar – May 22, 2018
Prior to the 1990’s Bellefonte Reinsurance Co. v. Aetna Cas. & Sur. Co., 903 F.2d910 (2d Cir. 1990) (“Bellefonte”) decision, the insurance/reinsurance industry operated under the assumption that expenses in addition to loss, unless explicitly excluded, were included coverages under facultative reinsurance certificates. The Bellefonte decision,…
Read More Back to the Future
The National Association of Insurance Commissioners (NAIC) has directed its committees to move forward with amending the Reinsurance Model Law and Regulation (Models) to be consistent with the EU/U.S. Covered Agreement signed last September. The Covered Agreement eliminates collateral and physical presence requirements for EU/U.S. reinsurers. States have 60 months…
Read More NAIC Panels to Begin Work on Model Law to Extend Covered Agreement to Non-EU Jurisdictions
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.
In This Issue:
…
Read More Insurance and Reinsurance Newsletter – April 2018
On February 20, 2018, the National Association of Insurance Commissioners (NAIC) held a public hearing on the reinsurance collateral provisions of the Bilateral Agreement between the United States of America and the European Union on Prudential Measures regarding Insurance and Reinsurance (the “Covered Agreement”). The Covered Agreement creates a framework…
Read More NAIC Holds Public Hearing on Reinsurance Collateral Provisions of Covered Agreement
On December 22, 2017, the President signed into law H.R. 1, known generally as the Tax Cuts and Jobs Act (the “TCJA”), which makes widespread changes to the Internal Revenue Code. The TCJA includes a number of provisions that impact the taxation of the insurance and reinsurance sector, particularly in…
Read More New Tax Law May Reduce Tax Benefit for Cross-Border Affiliated Insurance/Reinsurance Premiums
A Cornhusker by birth, I’ve always had a special affinity for Nebraska, and particularly Omaha, where I was raised. My only regret is that I was neither old nor rich enough to participate in Mr.Buffet’s original partnership. Notwithstanding the frequent kvetching about the arbitration process, it is still the most…
Read More NEBRASKA: A Good Home for Berkshire Hathaway, but not for Reinsurance Agreements
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.
In This Issue:
…
Read More Insurance and Reinsurance Newsletter – December 2017
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