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Conyers

Captive Insurance in Bermuda

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Bermuda is the world’s leading domicile for captive insurance companies, with over 600 active captive licences on its register generating over US$24 billion in gross written premium. Having formed the first modern captive in...more

Mintz

Congressional Democrats Press For Integration of Climate-Related Financial Risks in Insurance Regulation

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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

Clark Hill PLC

New York Department of Financial Services Proposes Circular to Address Insurance Companies’ Use of Artificial Intelligence

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On Jan. 17, the New York Department of Financial Services (“NYDFS” or “Department”) issued for public comment a proposed circular letter (“Circular”) for addressing the use of artificial intelligence systems (“AIS”) and...more

Latham & Watkins LLP

Hong Kong Moves Forward With Major Update to Capital Regime for Insurance Companies

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Insurance Ordinance amendments would create a risk-based capital regime aligned with international standards. On 6 April 2023, the Hong Kong government introduced the Insurance (Amendment) Bill 2023 into the Legislative...more

Latham & Watkins LLP

Sustainable Finance and Climate Change Risk in Financial Services: For Insurers

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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

Polsinelli

Taking InsurTech on the Road: Mobile App Bumps and Solutions

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As insurers, agencies, producers and service companies seek to become more efficient and competitive in the InsurTech marketplace, offering mobile apps seems to be one obvious solution. ...more

Carlton Fields

Insurers Keep Providing Corporate Governance Disclosures Without Complaint—Yet

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Following the financial crisis, the NAIC undertook a solvency modernization initiative (SMI) to update insurance regulators on insurance companies’ regulatory frameworks. One part of the SMI, meant to keep regulators informed...more

Hogan Lovells

New corporate governance requirements in Hong Kong

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New corporate governance standards for insurers authorised in Hong Kong came into effect on 1 January 2017. Hong Kong incorporated insurers and overseas insurers with a certain threshold of Hong Kong business must comply with...more

Holland & Knight LLP

New York Department of Financial Services Revises Proposed Cybersecurity Rule

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The New York Department of Financial Services (NYDFS) recently issued a revised proposed regulation seeking to add its own mandate of cybersecurity requirements to those already in existence for banks, insurance companies and...more

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