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Results: 11-20 of 27

Keep those power lunch receipts; the New York Department of Financial Services may consider such entertainment expenses as producer compensation to be disclosed

Edwards Wildman Palmer LLP
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USA
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November 28 2011

An inquirer recently asked the New York Department of Financial Services Office of General Counsel (the “OGC”) whether (1) lunch bought for an insurance producer by an insurer qualifies as compensation to be disclosed under Regulation 194 (effective January 1, 2011); and (2) if it qualifies, how should an insurer maintain a record of the cost of that lunch when multiple producers are present at the lunch, but only one is the binding producer?

Connecticut health insurance rate increase symposia law passes through legislature to Governor's desk

Edwards Wildman Palmer LLP
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USA
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June 13 2011

As we originally reported, the Connecticut Legislature’s proposed bill, S.B.11, An Act Concerning the Rate Approval Process for Certain Health Insurance Policies, if enacted, would expand the current rate approval process as administered by the Connecticut Department of Insurance for proposed increases of 10 or more for health and long-term care insurance

Illinois Department of Insurance director named

Edwards Wildman Palmer LLP
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USA
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November 23 2011

Andrew R. Stolfi has been appointed as acting director of the Illinois Department of Insurance (the “Department”) by Governor Pat Quinn

National Association of Insurance Commissioners states that the United States will gain Solvency II equivalence

Edwards Wildman Palmer LLP
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USA
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November 22 2011

In a statement last week, Therese Vaughn, Chief Executive Officer of the National Association of Insurance Commissioners (the NAIC”), stated that the state-based regulatory system in the United States should be deemed equivalent to the Europe Union’s Solvency II regulatory process

Connecticut Insurance Commissioner elected secretary of the NAIC’s Northeast Zone and will serve on the NAIC’s Executive Committee

Edwards Wildman Palmer LLP
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USA
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December 1 2011

Thomas B. Leonardi, Commissioner of the Connecticut Insurance Department, was elected as the secretary of the National Association of Insurance Commissioner’s (“NAIC”) Northeast Zone during the NAIC’s Fall 2011 meeting

Massachusetts passes statutory ban on the use of credit-based insurance scores for private passenger automobile insurance

Edwards Wildman Palmer LLP
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USA
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December 2 2011

Massachusetts Governor Duval Patrick signed H. 3795, which bans the use of credit-based insurance scores in the underwriting and rating of private passenger automobile insurance, into law on November 22, 2011 as Chapter 195 of the Acts of 2011

New York Attorney General and Comptroller launch joint investigation into unpaid life insurance benefits

Edwards Wildman Palmer LLP
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USA
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November 7 2011

On November 3, 2011, the New York Attorney General and the New York State Comptroller announced a joint initiative to investigate possible unpaid life insurance benefits

Former FDIC chairwoman states that credit-default swaps should be regulated like insurance

Edwards Wildman Palmer LLP
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USA
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November 8 2011

On November 3, 2011, Sheila Bair, former Chairwoman of the Federal Deposit Insurance Corporation (“FDIC”), in a speech to attendees of the national fall meeting of the National Association of Insurance Commissioners, focused on systemic risk posed by credit-default swaps on the United States financial system

NCOIL believes a state legislator should be appointed to the Federal Advisory Committee on Insurance

Edwards Wildman Palmer LLP
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USA
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November 9 2011

As we discussed earlier this week, the United States Treasury Department (the “Treasury”) announced the appointments of 15 individuals to serve as members of the Federal Advisory Committee on Insurance (the “Committee”

Appointments made to the Federal Advisory Committee on Insurance

Edwards Wildman Palmer LLP
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USA
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November 4 2011

Earlier this week the United States Treasury Department announced the appointments of 15 individuals to serve as members of the Federal Advisory Committee on Insurance