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Results: 1-10 of 95

NAIC releases second draft of federal legislation for implementation of reinsurance regulatory modernization framework
  • Locke Lord LLP
  • USA
  • August 13 2009

On July 27, 2009, the National Association of Insurance Commissioners (“NAIC”) released a revised draft of the Reinsurance Regulatory Modernization Act of 2009 (the “Act”), which was the result of a proposal adopted at its 2008 Winter Meeting to modernize reinsurance regulation


Oregon adopts legislation restricting STOLI transactions
  • Locke Lord LLP
  • USA
  • August 13 2009

In July, Oregon Governor, Ted Kulongoski, signed into law Senate Bill 973 (as adopted, the "Act"), which modifies Oregon life settlement legislation


Governor Paterson announces appointment of New York Superintendent of Insurance
  • Locke Lord LLP
  • USA
  • August 18 2009

On August 14, 2009, Governor Paterson announced the appointment of James J. Wrynn to serve as Superintendent of the New York State Insurance Department (the “Department”


House leaders voice concerns over bonuses
  • Locke Lord LLP
  • USA
  • August 13 2009

House Speaker Nancy Pelosi (D-CA) and House Financial Services Chairman Barney Frank (D-MA) sent a letter to Treasury Secretary Timothy Geithner urging the Administration to ensure that executive pay at companies that received bailout dollars is not being rewarded at the expense of taxpayers


New York freezes medical malpractice rates for additional year
  • Locke Lord LLP
  • USA
  • August 12 2009

On August 10, 2009, New York Governor David Patterson signed legislation continuing the freeze on medical malpractice rates


Public hearing on Massachusetts information security regulations
  • Locke Lord LLP
  • USA
  • September 24 2009

On September 22, 2009, Socheth Sor of Edwards Angell Palmer & Dodge LLP testified at a public hearing before the Massachusetts Office of Consumer Affairs and Business Regulations (“OCABR”) in Boston regarding 201 CMR 17.00, Standards for the Protection of Personal Information of Residents of the Commonwealth


Report from the NAIC Fall meeting - Vice President Biden addresses state insurance commissioners on healthcare reform
  • Locke Lord LLP
  • USA
  • September 23 2009

Vice President Joseph Biden spoke yesterday at the NAIC Fall meeting taking place near Washington DC, and he used the opportunity to seek the support of state insurance commissioners for the Government's proposals for national healthcare reform


California appellate court applies government contractor immunity defense to boilers on naval vessels in asbestos-related decision
  • Locke Lord LLP
  • USA
  • September 24 2009

Earlier this month, a California appellate court held that the government contractor immunity defense applies to a boiler manufactured to United States Navy specifications, shielding the manufacturer from a design defect claim


New Jersey releases proposed rule and notice of pre-proposal for disclosure of producer compensation for sales of health insurance policies
  • Locke Lord LLP
  • USA
  • September 21 2009

The New Jersey Department of Banking and Insurance (the “Department”) released a draft rule, N.J.A.C. 11:17B-4 (PRN 2009-242) (the “Proposed Rule”), setting forth the specific requirements of N.J.S.A. 17:22A-41.1


SEC Task Force to investigate life settlements
  • Locke Lord LLP
  • USA
  • September 21 2009

According to industry reports, the US Securities and Exchange Commission has formed a multidisciplinary task force (“Task Force”) to investigate life settlements (i.e. the sale of life insurance products by policyholders to third-party investors