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33 results found

Article

Locke Lord LLP | USA | 28 Jul 2010

New York Insurance Department to hold hearing on August 20, 2010 on whether to expand the Export List under Regulation 41

A public hearing on August 20, 2010 will explore the possibility of increasing insurance capacity in New York by easing access to unauthorized insurers.

Article

Locke Lord LLP | USA | 30 Jun 2010

New York contemplates disclosure for excess annuity withdrawals

The New York Insurance Department ("NYID") prepared a draft circular letter ("Draft Circular Letter" or "Letter") in early June, which, if finalized and issued, will require insurers to advise consumers of the implications of excess withdrawals from annuities with guaranteed minimum withdrawal benefits ("GMWB").

Article

Locke Lord LLP | USA | 30 Jun 2010

New York Insurance Department holds hearing on reform of rate, form, regulatory filings and licensing applications

On June 28, 2010, the New York Insurance Department (the "Department") held a hearing to obtain comments from the public regarding how to enhance Department procedures.

Article

Locke Lord LLP | USA | 10 Jun 2010

PIANY receives approval on draft language regarding producer compensation disclosure

As previously discussed here, the New York Insurance Department (the "Department") has put forth a regulation regarding the transparency of insurance producer compensation ("Regulation 194"), which is slated to take effect January 1, 2011.

Article

Locke Lord LLP | USA | 8 Jun 2010

Federal funding for temporary high-risk insurance pool program to begin Summer 2010

In July 2010, some of the first money allocated by the new health care reform law will start flowing to states that have elected to participate in the federal temporary high-risk insurance pool program.

Article

Locke Lord LLP | USA | 6 May 2010

New York Insurance Department’s proposed circular letter re: the federal Mental Health Parity and Addiction Equity Act of 2008

On April 26, 2010, the New York Insurance Department (the "NYID") proposed a circular letter to provide additional guidance to insurers on the impact of the federal Mental Health Parity and Addiction Equity Act of 2008 (the "Act").

Article

Locke Lord LLP | USA | 23 Apr 2010

New York Insurance Department opens its regulations to public comment

Pursuant to Executive Order No. 25 from the New York State Governor’s office establishing a Regulatory Review and Reform Program, the New York State Insurance Department (the "Department") is inviting comments from regulated entities and other interested parties to identify existing regulations that impose unnecessary, burdensome or excessive costs, paperwork or other requirements.

Article

Locke Lord LLP | USA | 20 Apr 2010

New York seeks comments on draft amendment restricting release terms

The New York Insurance Department has proposed a fourteenth amendment to Regulation 64, Unfair Claims Settlement Practices and Claims Cost Control Measures (the "Proposed Amendment").

Article

Locke Lord LLP | USA | 19 Apr 2010

New York seeks comments on draft regulation prohibiting use of discretionary clauses in life and health insurance policies

The New York Insurance Department has issued a proposed regulation that would prohibit life and health insurers from issuing policies that contain discretionary clauses (the "Proposed Regulation").

Article

Locke Lord LLP | USA | 8 Mar 2010

Contingent commissions allowed for “Big Three” insurance brokers in New York, Illinois and Connecticut

Insurance regulators in New York, Illinois and Connecticut have reached an agreement to allow Aon Corp., Marsh & McLennan Companies Inc. and Willis Group Holdings plc (the “Big Three”) to receive contingent commission compensation from insurance carriers.

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