News & Analysis as of

Insurance Industry Compliance

A&O Shearman

Just a few months left before DORA enforcement: Time to Take Action

A&O Shearman on

The Digital Operational Resilience Act EU 2022/2554 (DORA) constitutes a groundbreaking EU regulation designed to establish a unified framework for bolstering cybersecurity and operational resilience within the financial...more

Conyers

Economic Substance Enforcement Regime Overview - Applicable to Insurance Entities

Conyers on

It has now been over a year since the updated Enforcement Guidelines: Economic Substance (the “Guidelines”) were issued on 31 March 2023, outlining the enforcement powers and processes of the Cayman Islands Tax Information...more

Barnea Jaffa Lande & Co.

Israeli Capital Market, Insurance and Savings Authority Issues New and Revised Circulars

The emerging risks in the financial services market and the inception of the Regulation of Payment Services and Payment Initiation Law prompted the Capital Market, Insurance and Savings Authority (CMISA) to amend a series of...more

Foley & Lardner LLP

New York Department of Financial Services Issues New Guidance Concerning the Use of Artificial Intelligence in Insurance– What You...

Foley & Lardner LLP on

On July 11, 2024, the New York Department of Financial Services (DFS) issued Insurance Circular Letter No. 7 (2024) (Letter No. 7) adopting guidance regarding the use of artificial intelligence (AI) in underwriting and...more

Benesch

Liability Insurance Limits Double for CMVs on July 1st under New Jersey Law

Benesch on

Beginning on July 1, 2024, all owners and registered owners of certain motor vehicles with nexus to New Jersey will be legally required to hold at least $1,500,000 in automobile liability insurance. This new law doubles the...more

Womble Bond Dickinson

The Impact of the Corporate Transparency Act on Companies in a Captive Insurance Structure

Womble Bond Dickinson on

Captive insurance companies are likely exempt from filing a Beneficial Ownership Information (BOI) Report under the insurance company exemption to the Corporate Transparency Act (CTA). Likewise, companies that are owned by...more

Eversheds Sutherland (US) LLP

Connecticut Insurance Department adopts NAIC model bulletin on AI

On February 26, 2024, the Connecticut Insurance Department (the CID) adopted Bulletin No. MC-25 on the “Use of Artificial Intelligence Systems in Insurance” (Connecticut Bulletin). This Connecticut Bulletin is similar to the...more

J.S. Held

2024 J.S. Held Global Risk Report: New Laws Addressing the Risks and Rewards of Artificial Intelligence (AI)

J.S. Held on

The race to develop AI and calls to regulate it are heating up around the world. In November 2023, 28 countries, including the United States, United Kingdom, China, and the European Union, met and pledged to work together to...more

Mintz - Securities & Capital Markets...

New for 2024: Compliance with the Corporate Transparency Act Necessary for Many Mintz Clients

Reporting requirements under the Corporate Transparency Act (CTA) are in effect beginning January 1, 2024. Under the CTA, many US entities will be required to provide the personal information of their beneficial owners to the...more

Hinshaw & Culbertson - Insights for Insurers

California Privacy Protection Agency Advances Insurance Privacy Compliance Regulation

On December 8, 2023, the California Privacy Protection Agency (CPPA) moved forward with an insurance regulation that could expand the privacy compliance obligations of insurance companies. The California Privacy Rights Act...more

Snell & Wilmer

A Contract Check Up for the Construction Industry

Snell & Wilmer on

We began the year discussing an insurance checkup for those working in the construction industry. Now, we are following up with a discussion of issues for a contract checkup, specifically for your ongoing long-term projects....more

J.S. Held

Energy Consumption Analysis: The Impact on Insurance Claims During Extreme Weather Events

J.S. Held on

The Role of Energy Consumption Analysis in Extreme Weather Insurance Claims - Water damage to structures is among the most common type of first party property insurance claims. During periods of extreme weather, water...more

Foley & Lardner LLP

Navigating the AI Frontier: Legal and Operational Insights Into Generative AI

Foley & Lardner LLP on

In our ever-changing technological environment, artificial intelligence (AI) is beginning to exert its influence on numerous sectors, revolutionizing our approach to work. As businesses and organizations worldwide adopt...more

Marshall Dennehey

Fourth District Court of Appeals Affirms Trial Court Ruling That Assignee’s Pre-Suit Demand Letter Was Not Precise as to Amount...

Marshall Dennehey on

Chris Thompson, P.A. a/a/o Elmude Cadau v. Geico Indemnity Co., Nos. 4D21-1820 and 4D21-2310 (47 Fla. L. Weekly D 1588) - This controversy was brought on an appeal before the Fourth District Court of Appeals due to the lower...more

Rothwell, Figg, Ernst & Manbeck, P.C.

Regulating AI: Litigation Questions And State Efforts To Watch

This second part of a two-part series on U.S. regulation of artificial intelligence systems highlights state legislation and litigation to watch concerning AI systems, and provides practical takeaways as we look toward the...more

Seward & Kissel LLP

"An Ounce of Prevention"...How to Reduce the Risk of Litigation and Enforcement Proceedings

Seward & Kissel LLP on

To paraphrase what Ben Franklin may have been alluding to nearly 300 years ago in his famous quote, often the best approach when it comes to reducing the risk of litigation and government enforcement proceedings is to take...more

Ankura

Understanding the New Medicaid Research Coverage Regulation

Ankura on

On January 1, 2022, the new Medicaid clinical research coverage law became effective requiring states to add clinical research coverage as a mandatory benefit for Medicaid enrollees. In response, research teams, revenue cycle...more

Rumberger | Kirk

Florida Passes Insurer Accountability Act: Stricter Compliance and Claims Handling Standards for Insurance Carriers

Rumberger | Kirk on

The Florida Legislature passed the “Insurer Accountability” Act into law this week, which will take effect July 1, 2023. Known as Senate Bill 7052 (the “Act”), the new law creates comprehensive new insurance coverage and...more

Faegre Drinker Biddle & Reath LLP

NAIC LTCI Task Force Adopts Revised RBO Checklist, Receives Update on Industry Trends

NAIC’s Long-Term Care Insurance (LTCI) Task Force recently adopted a revised checklist for regulators to use when drafting and reviewing LTCI reduced benefit options (RBO) policyholder communications. The checklist is meant...more

BCLP

What are the climate change reporting requirements that UK insurers are required to comply with?

BCLP on

In line with the UK’s Net Zero Strategy, the UK became the first G20 country to adopt the recommendations of the Taskforce on Climate-related Financial Disclosures (TCFD), with effective dates rolling out for different...more

K2 Integrity

Implementation of the Russian Oil Price Cap and Key Compliance Considerations

K2 Integrity on

As the Russian invasion of Ukraine continues, so too does Russia’s isolation from the West. Member nations of the Group of Seven (G7)—the United States (U.S.), Canada, France, Germany, Italy, Japan, and the United Kingdom...more

Fisher Phillips

8 FAQs for Colorado Employers Facing New Paid Family and Medical Leave Insurance Obligations for 2023

Fisher Phillips on

All Colorado employers will be subject to new paid family and medical leave insurance obligations — starting on January 1 — thanks to the Colorado Family and Medical Leave Insurance (FAMLI) program. What do Colorado employers...more

Partridge Snow & Hahn LLP

Nonprofit Compliance and Best Practices "To Do" List

Whether you run a nonprofit or serve on the Board, you have a responsibility to make sure the organization is both in compliance to weather the storm and take advantage of growth opportunities. There never seems to be enough...more

Faegre Drinker Biddle & Reath LLP

Highlights from the LTCi EX Task Force Meeting at NAIC

We want to bring you some highlights from the in-person LTCi EX Task Force meeting we attended August 12 during NAIC’s Summer National Meeting in Portland. The Commissioners principally discussed the next steps in the...more

Conyers

Review & Reset: Topical Items for Consideration by Insurers

Conyers on

It’s necessary from time to time to take a step back to review an insurer’s broader legal, regulatory and compliance landscape and reset and restructure its compliance procedures where required. We briefly set out below a...more

83 Results
 / 
View per page
Page: of 4

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide