The National Association of Insurance Commissioners (NAIC) recently announced its regulatory priorities for 2023. Insurers should consider the extent to which these matters impact them and the prospect that insurance...more
Internationally active insurance groups (IAIGs) with U.S. domestic insurers should be alert to key changes in regulatory oversight being considered by the National Association of Insurance Commissioners (NAIC). These changes...more
Insurers and reinsurers navigating the increasingly complex rules on reciprocity for collateral requirements should consider recent guidance from the leading U.S. standard-setting body. On June 17, 2021, the Reinsurance...more
Pharmacy benefit managers (PBMs) should consider the implications of a model law making its way through the National Association of Insurance Commissioners (NAIC) that would establish a licensure requirement and rules of...more
4/13/2021
/ Claim-Processing Rules ,
Health Insurance ,
NAIC ,
Patient Access ,
Pharmaceutical Industry ,
Pharmacy Benefit Manager (PBM) ,
Prescription Drugs ,
Regulatory Agenda ,
Regulatory Oversight ,
Regulatory Standards ,
The Model Law
On June 3, amendments to New York insurance regulations, available here, became effective that will permit the New York Superintendent of Financial Services to act as group-wide supervisor of internationally active insurance...more
With M&A activity for life insurers or blocks of in-force business poised for a possible spike, acquirers of life businesses should consider factors that are peculiar to, or disproportionately affect, the life and annuity...more
9/9/2019
/ Annuities ,
Artificial Intelligence ,
Best Interest Standard ,
Captive Insurance Company ,
Collateral ,
Consumer Insurance Products ,
Insurance Regulations ,
Investment Opportunities ,
Life Insurance ,
NYDFS ,
Private Funds ,
Property Casualty Policies ,
Regulatory Standards ,
Reinsurance ,
Variable Annuities
On Aug. 20, the Federal Deposit Insurance Corp. (the FDIC) and the Office of the Comptroller of the Currency (the OCC) approved amendments to the Volcker Rule, which restricts banking entities’ ability to engage in...more
The New York Department of Financial Services’ (DFS) January 2019 insurance circular letter, which advised New York-licensed life insurance carriers on the use of external consumer data and information sources in...more
8/1/2019
/ Algorithms ,
Artificial Intelligence ,
Consumer Insurance Products ,
Cooperative Compliance Regime ,
Customer Information ,
Data Management ,
Discrimination ,
Financial Services Industry ,
Insurance Regulations ,
Life Insurance ,
New Guidance ,
NYDFS ,
Predictive Analytics ,
Regulatory Standards ,
Transparency ,
Underwriting
Recent efforts by the National Association of Insurance Commissioners (NAIC), the principal standard-setting body for insurance regulation in the U.S., to establish a “group capital” standard (that is, capital-adequacy rules...more
The federal government, state insurance regulators and international regulatory bodies are all actively engaged in the development of capital standard calculations to be employed in the supervision of entities in their...more