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Eversheds Sutherland (US) LLP | USA | 10 May 2022
The Task Force on Climate-related Financial Disclosures: Emerging climate change disclosure principles for the insurance industry
As concerns about the ecological and financial impacts of climate change have grown in recent years, so has the interest of insurance regulators in…
Kramer Levin Naftalis & Frankel LLP | USA | 10 May 2022
New York Legislation Would Impose Group Capital Calculation Requirement
Parent companies of insurers doing business in New York would be required to file a “group capital calculation,” or GCC, with the Superintendent of…
Kramer Levin Naftalis & Frankel LLP | USA | 6 May 2022
NAIC Discusses Best Practices for Restructuring Mechanisms
Insurers with legacy blocks of business, or with other motivations to enter into block transfers of business or corporate split-offs, should consider…
McDermott Will & Emery | USA | 5 May 2022
NAIC Continues to Refine Multiyear Work Plan to Expand Scrutiny of Holding Company Act Filings
In our report published on April 26, 2022, we discussed the New York Department of Financial Services’ (NYDFS) Circular Letter No. 5 in which it…
Hunton Andrews Kurth LLP | USA | 4 May 2022
Two States Enact Insurance Data Security Laws
In April 2022, two states enacted insurance data security legislation based on the National Association of Insurance Commissioners (“NAIC”) Insurance…
Saxe Doernberger & Vita, P.C. | USA | 3 May 2022
Statute of Limitations and Bad Faith Claims: Factors to Consider
How much time do our clients have to bring a bad faith action against an insurer? Although we are not frequently asked this question, it is one that…
Day Pitney LLP | USA | 3 May 2022
Connecticut Insurance Department Amends Its Big Data Guidance To Require Annual Certification
The insurance industry's growing use of big data, predictive modeling and artificial intelligence (AI) has been well documented, and it is a matter…
McDermott Will & Emery | USA | 27 Apr 2022
Climate Change Regulatory Update for US Insurers: April 2022
If anyone believed that the US Securities and Exchange Commission’s (SEC) release of proposed climate change-related disclosure requirements last…
Sidley Austin LLP | USA | 27 Apr 2022
Regulatory Update: NAIC Spring 2022 National Meeting
The National Association of Insurance Commissioners (NAIC) held its Spring 2022 National Meeting (Spring Meeting) from April 4-8, 2022. This…
McDermott Will & Emery | USA | 26 Apr 2022
New York Says Less Than 10% Ownership of an Insurance Company Is Not a Safe Harbor
On April 19, 2022, the New York Department of Financial Services (NYDFS) issued Circular Letter No. 5, reminding owners and potential purchasers of…
