Flood Basics still causing pain for some
The Standard Formula Podcast | Using an Internal Model to Calculate the Solvency Capital Requirement
The Standard Formula Podcast | Dissecting the Solvency Capital Requirement
Best Practices for Negotiating Manuscript Exclusions
AGG Talks: Healthcare Insights - Episode 1: A Primer for Providers When Insurance Companies Refuse to Pay
The Standard Formula Podcast | Solvency II Back to Basics: Technical Provisions
D&O Insurance Myths (Part 2)
Hinshaw Insurance Law TV | Bad Faith Law
The Standard Formula Podcast | Investment Rules for Insurers and Reinsurers
D&O Insurance Myths (Part 1)
The Standard Formula Podcast | Understanding the UK’s Matching Adjustment Regime
The Standard Formula Podcast | Solvency II Back to Basics: Third Country Branches and Cross-Border Provision of Services
Standard Formula Podcast | Reinsurance and Risk Transfer: Risk Mitigation Under the Solvency II Regime
Hinshaw Releases Second Edition of Duty to Defend: A Fifty-State Survey
Hinshaw Insurance Law TV – Transaction Insurance Solutions
The Standard Formula Podcast | Understanding Insurance Resolution Regimes
The Risk Roundtable: Demystifying the Intersection Between NJ Workers' Comp & Employment Practice Liability
GILTI Conscience Podcast | Tax Insurance 101
Insurance for the Cannabis Industry: Risks & Challenges
The Standard Formula Podcast | International Association of Insurance Supervisors: Who They Are and Their Industry Impact
For more than a decade US insurance regulators have required certain insurers to file climate risk disclosure reports. In recent years, financial regulators in Europe have begun climate change scenario testing while still...more
On August 12, 2024, three Congressional Democrats (Casten (D-IL); Waters (D-CA); and Senator Whitehouse (D-RI)) sent a letter to the National Association of Insurance Commissioners (NAIC), inquiring as to “the status of the...more
Are there differences in the way in which weather derivatives and weather insurance are taxed? Yes. Weather insurance products, including parametric insurance, are taxed as insurance; and derivatives are taxed in accordance...more
Are there differences in the way in which derivatives and insurance contracts are regulated? Yes. Weather derivatives and insurance contracts are subject to totally different regulatory regimes. Derivatives are subject to the...more
In Part I of this series on weather and climate risk management, I reviewed the context within which organizations seek to manage climate and weather-related risks. With extreme weather events becoming more common, there are...more
Global M&A Activity Endures Headwinds in 2023 and Displays Resilience Going Into 2024 - Despite market headwinds, dealmakers have looked to carveouts, spin-offs, joint ventures and other creative deal structures to engage...more
Models that have historically been used by insurers to hedge risk were not designed to predict uncertain events such as natural disasters that may be exacerbated by climate change. This now leaves insurers overexposed to...more
On June 1, 2023, the Federal Advisory Committee on Insurance (“FACI”) held its June meeting. Below is a summary of the topics discussed with emphasis on areas we found particularly interesting. FACI intends to hold two more...more
Our earlier blog post, “Companies Should Know Benefits and Risks of ESG Reporting,” provided an overview of the Environmental, Social and Governance (“ESG”) metrics, why these metrics are important to companies and...more
Change is a constant in the world today. This is particularly true of the past two tumultuous years, which saw a worldwide pandemic that impacted nearly every aspect of everyday life. Rapidly advancing technology and...more
As concerns about the ecological and financial impacts of climate change have grown in recent years, so has the interest of insurance regulators in the exposure of the insurance industry to the risks raised by climate change...more
The US Securities and Exchange Commission’s (SEC) recently proposed landmark climate-related disclosure rules draw attention to a broad scientific consensus that to avert catastrophic consequences from climate change, the...more
On November 15, 2021, the New York Department of Financial Services (NYDFS) finalized guidance, originally proposed in March 2021, on how New York-domestic insurers should manage climate change risk. See, Guidance for New...more
The New York State Department of Financial Services ("DFS")--one of the primary state regulatory authorities in New York--has now issued guidance to insurers concerning managing the risks associated with climate change. This...more
The New York State Department of Financial Services (DFS) released final regulatory guidance to domestic insurers regarding their management of climate change risk, incorporating public comments DFS received on its initial...more
Following up on proposed guidance released in March, the New York Department of Financial Services (“DFS”) on November 15 released “Guidance for New York Domestic Insurers on Managing the Financial Risks from Climate Change”....more
From June 2 to June 4, leading central bankers, policymakers, regulators, private sector CEOs, civil society members and academics gathered for the Green Swan 2021 Global Virtual Conference. The conference was co-hosted...more
Last week (March 25, 2021), the New York State Department of Financial Services (NYDFS) released for public comment proposed guidance for New York domestic insurers on managing financial risks from climate change (the...more
In late November 2020, we published a high-level review of insurance regulatory developments relating to climate change, available here. In the six weeks since, regulators and industry participants on both sides of the...more
The New York Department of Financial Services (DFS) has issued a bulletin on climate change and financial risks to the financial institutions and insurance companies it supervises regarding the impact of climate change on...more
Over the last decade, there has been a global increase in the focus on climate change and the risks and dangers associated with it. And for good reason. Damage from climate-related disasters was in the billions of dollars in...more
In a July 2020 speech on climate action in the financial industry, Sarah Breeden, executive director for UK Deposit Takers Supervision, said the industry is “at the start of a critical decade for climate action where the...more
This article follows on from a series of previous articles seeking to address climate change litigation in the context of insurance and reinsurance. Three different, but important, decisions in December 2019 have once again...more
“In this world, nothing can be said to be certain, except death and taxes." — Benjamin Franklin On Dec. 12, 2015, in LeBourget, France, world leaders announced an agreement on a climate change accord which they touted as...more