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HTMLTreasury and U.S. Trade Representative Notify Congress of Intent to Initiate Negotiations on Covered Agreement With EU Regarding U.S. Equivalence
Eric A. Arnold, Brian Barrett, B. Scott Burton, Eric R. Fenichel, John S. Pruitt; Sutherland Asbill & Brennan LLP;
Legal Alert/Article
November 23, 2015, previously published on November 22, 2015
On Friday, November 20, 2015, the U.S. Department of the Treasury and the U.S. Trade Representative (USTR) notified the chairs of the U.S. House Financial Services Committee, House Ways and Means Committee, Senate Banking Committee and Senate Finance Committee of their intent to initiate...

 

HTMLElectronic Identification Cards to be Used in New York
Sutherland Asbill Brennan LLP;
Legal Alert/Article
November 20, 2015, previously published on November 19, 2015
GEICO has become the first insurance company to issue electronic insurance identification cards in the State of New York. These e-cards are now available to GEICO’s New York customers on its app. Under new regulations that went into effect in April, motorists may provide proof of auto...

 

HTMLMinnesota the Latest State to Join the Price Optimization Bandwagon
Sutherland Asbill Brennan LLP;
Legal Alert/Article
November 17, 2015, previously published on November 16, 2015
The Minnesota Department of Commerce has issued Administrative Bulletin 2015-3, barring the use of price optimization in ratemaking by property and casualty insurers. The Bulletin states that “[p]rice optimization is not an actuarial estimate based on expected losses, expenses, and the degree...

 

HTMLFlorida Joins International Association of Insurance Supervisors' Information Exchange Agreement
Colodny Fass P.A.;
Legal Alert/Article
November 17, 2015, previously published on November 10, 2015
Florida Insurance Commissioner Kevin McCarty, together with Felix Hufeld, Chair of the Executive Committee of the International Association of Insurance Supervisors ("IAIS), today announced that the Florida Office of Insurance Regulation has joined has joined as the 55th jurisdiction...

 

HTMLFlorida Office of Insurance Regulation to Review NCCI Supplemental Rate Filing Information
Colodny Fass P.A.;
Legal Alert/Article
November 13, 2015, previously published on November 6, 2015
The Florida Office of Insurance Regulation ("OIR") advised today, November 6, 2015, that it has received a request from the National Council on Compensation Insurance ("NCCI") to consider supplemental information related to the expense constant, indemnity trend, and profit and...

 

HTMLSecurities Regulator Consults on Loan Origination by European Long-Term Investment Funds
Philippe Goutay, Anselme Mialon; Jones Day;
Legal Alert/Article
November 13, 2015, previously published on November 2015
On October 22, 2015, the AMF launched a public consultation as to how French investment funds may be permitted to register as European long-term investment funds and hence originate loans to companies, under certain conditions.

 

HTMLRevised Mediation of Property Insurance Claims Rule Effective November 3, 2015
Colodny Fass P.A.;
Legal Alert/Article
November 13, 2015, previously published on November 6, 2015
Rule 69O-166.031, entitled “Mediation of Property Insurance Claims” was recently revised to address the invalidity of a portion of its provisions as the result of the ruling in State Farm Florida Ins. Co v Unlimited Restoration Specialists, Inc., 84 So. 3d 390 (Fla. 5th DCA 2012).

 

HTMLPolice and Adjuster Statements - Admissible or Not?
Tessa Gregson, Sharon Stefanyk; Field Law;
Legal Alert/Article
November 10, 2015, previously published on October 20, 2015
The Alberta Court of Appeal in the recent case of R. v. Porter, 2015 ABCA 279, has concluded that neither a statement made to the police pursuant to the Traffic Safety Act section 71, nor a statement provided to an insurance adjuster is admissible in a police investigation or criminal proceedings.

 

HTMLPursuing a Damage Claim Against the Insurance Company
Amanda R. Yurechko; Weltman, Weinberg & Reis Co., L.P.A.;
Legal Alert/Article
November 10, 2015, previously published on November 2, 2015
When utility property is damaged as a result of the actions of a driver or excavator, the insurance company cannot be named in a lawsuit by virtue of the insurance policy itself.1 The driver or excavator is the holder of that insurance policy, and as a result, case law in most states has held that...

 

HTMLNAIC IUL Illustration Subgroup Proposes Revisions to Actuarial Guideline 49
Eric A. Arnold, Frederick R. Bellamy, Thomas E. Bisset, Dodie C. Kent, Clifford E. Kirsch; Sutherland Asbill & Brennan LLP;
Legal Alert/Article
November 9, 2015, previously published on November 9, 2015
On November 3, the National Association of Insurance Commissioners (NAIC) IUL Illustration (A) Subgroup circulated for comment proposed revisions (Proposed Revisions) to recently adopted Actuarial Guideline 49 governing illustrations for indexed universal life (IUL) insurance policies. The Proposed...

 


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