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HTMLMissouri insurance regulator recognized with national IRES Award
Colodny Fass P.A.;
Legal Alert/Article
April 28, 2015, previously published on April 21, 2015
Jefferson City, Mo. - The Missouri Department of Insurance ("MDI") announced today, April 20, 2015, that Chief Market Conduct Examiner Jim Mealer is the 2015 recipient of the Paul DeAngelo Memorial Teaching Award given by the Insurance Regulatory Examiners Society (IRES) Foundation.

 

Adobe PDFNAIC Adopts Guidance on Acquisition of Control of US Insurers
David W. Alberts, Lawrence R. Hamilton, James R. Woods, Nicole Zayac; Mayer Brown LLP;
Legal Alert/Article
April 28, 2015, previously published on April 23, 2015
Any person or company that wishes to acquire control of a US insurer is required to file an acquisition statement called a “Form A” with the insurance regulatory authority in the state where the target insurer is legally domiciled (and, in some cases, in states where the target is...

 

HTMLTexas Department of Insurance Call For HelpInsure.com Personal Auto, Residential Property Data Due May 15, 2015
Colodny Fass P.A.;
Legal Alert/Article
April 27, 2015, previously published on April 20, 2015
In Bulletin #B00008-15 issued today, April 20, 2015, the Texas Department of Insurance ("TDI") requested all insurers writing personal automobile and residential property policies in Texas to provide information for the HelpInsure.com Web site under Texas Insurance Code §32.104. The...

 

HTMLEureka: California Controller Discovers New Source of Revenue from Insurers
Wilson G. Barmeyer, Irene A. Firippis, Phillip E. Stano, Steuart H. Thomsen, Mary Jane Wilson-Bilik; Sutherland Asbill & Brennan LLP;
Legal Alert/Article
April 27, 2015, previously published on April 27, 2015
The California Controller’s (Controller) latest squeeze on the life insurance industry involves: sending life insurers notices of assessment of interest on unclaimed property reported and voluntarily remitted in December 2014.

 

HTMLMichigan's Unique Lifetime Catastrophic Auto Injury Insurance Medical Benefits Could Soon Be Reformed
Colodny Fass P.A.;
Legal Alert/Article
April 27, 2015, previously published on April 23, 2015
SB 248 and SB 249, a pair of bills relating to No-Fault insurance approved by the Michigan Senate made national headlines this week because of the state's unique status as the only one in the nation to require unlimited medical benefits for those who sustain catastrophic injuries in vehicle crashes.

 

Adobe PDFNational Association of Insurance Commissioners Private Equity Issues Working Group: NAIC Working Group Adopts Guidance for State Insurance Regulators in Considering Change of Control Approval Filings
Cheryl A. Bunevich, Robert G. DeLaMater, Robert M. Fettman, C. Andrew Gerlach, Stephen M. Kotran; Sullivan & Cromwell LLP;
Legal Alert/Article
April 24, 2015, previously published on April 13, 2015
On March 29, 2015, the National Association of Insurance Commissioners (the “NAIC”) Private Equity Issues Working Group (the “PEI Working Group”) adopted a new section to be added to the NAIC’s Financial Analysis Handbook that provides a narrative guidance to state...

 

HTMLLower Prejudgment Interest Rates Apply Retroactively In Motor Vehicle Accident Claims
Adriana De Marco; Borden Ladner Gervais LLP;
Legal Alert/Article
April 24, 2015, previously published on April 16, 2015
In a decision released on April 15, 2015, the Ontario Superior Court of Justice addressed the impact of a recent amendment to the Insurance Act for the first time. The amendment provides that the 5% prejudgment interest rate for non-pecuniary losses in actions arising from motor vehicle accidents...

 

HTMLNAIC Update - Spring 2015
Eric A. Arnold, B. Scott Burton, Eric R. Fenichel, Ling Ling, John S. Pruitt; Sutherland Asbill & Brennan LLP;
Legal Alert/Article
April 23, 2015, previously published on April 22, 2015
The National Association of Insurance Commissioners (NAIC) held its first national meeting for 2015 in Phoenix, Arizona, from March 26 through March 31. Noteworthy new initiatives include cybersecurity, price optimization and the development of a model law for unclaimed life insurance benefits....

 

HTMLCybersecurity Breach: Are Board Members at Risk?
Kambon R. Williams; Pessin Katz Law, P.A.;
Legal Alert/Article
April 23, 2015, previously published on March 30, 2015
It seems a month does not pass in which some sort of breach of confidential data of a business is not announced to the public. With the increase in cybersecurity breaches, so increases board members’ exposure to litigation regarding such occurrences.

 

HTMLNew York DFS Taking Aim at Insurance Cyber Risks
Andy Blair, Matthew J. Gaul, Andy Roth; Dentons Canada LLP;
Legal Alert/Article
April 22, 2015, previously published on February 11, 2015
The New York Department of Financial Services (DFS) has released a report detailing the results of their recent survey of insurance industry cyber security protections. The report is accompanied by an announcement that DFS will enhance its oversight of cyber security, including the specific steps...

 


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