Special Focus

SPECIAL FOCUS: NAIC'S REINSURANCE REGULATORY MODERNIZATION ACT

June 29, 2009 by Carlton Fields

The NAIC's Reinsurance Regulatory Modernization Act was supposed to be the solution for the problems surrounding the regulation of reinsurance and the role of collateral in reinsurance transactions. SPECIAL FOCUS Editor John Pitblado describes the critical comments received to the exposure draft of the proposed federal legislation, the consitutional issues involved and the current status of this initiative, in Constitutional Concerns with the Reinsurance Regulatory Modernization Act.

This post written by John Pitblado.

SPECIAL FOCUS: ARBITRATION UNCONSCIONABILITY

June 1, 2009 by Carlton Fields

There have been a number of court opinions during the past year or so addressing the circumstances under which agreements to waive class claims in arbitration may be unconscionable. Special Focus Editor John Pitblado takes a closer look at some recent federal Court of Appeals decisions in this area.

This post written by John Pitblado.

SPECIAL FOCUS: FEDERAL REGULATORY MODERNIZATION PROPOSALS

April 27, 2009 by Carlton Fields

There have been many proposals floated for the “modernization” of the regulation of various sectors of the financial services industry. What are the implications of such proposals for the reinsurance industry? In a SPECIAL FOCUS feature, Rollie Goss, blogmaster and chair of a Task Force formed by Carlton Fields to monitor federal regulatory proposals which may affect its clients, discusses generally the major proposals to date which may affect the reinsurance industry. Many of the proposals made to date remain in a fairly conceptual stage, but a few now are progressing to the stage of proposed Congressional bills. The documents discussed in this short paper include:

a Treasury Department Blueprint for a Modernized Federal Regulatory Structure;
a draft bill prepared by the NAIC and exposed for comment;
a draft bill from the Treasury Department titled the Resolution Authority for Systematically Significant Financial Companies Act of 2009; and
a recently introduced bill, HR 1880 (bill text and bill summary).

For additional Special Focus items, see the new sidebar box with quick links to selected Special Focus items.

This post written by Rollie Goss.

REINSURANCE REGULATION UPDATE FROM NAIC MEETING

September 25, 2008 by Carlton Fields

The NAIC's Financial Condition (E Committee) has approved the pending Reinsurance Regulatory Modernization Framework proposal. For a complete description of this action, as well as an update on the status of similar actions in Florida and New York, see the attached memorandum

This post written by Rollie Goss.

SPECIAL FOCUS: NAIC, FLORIDA AND NEW YORK REINSURANCE COLLATERAL PROPOSAL UPDATE

August 29, 2008 by Carlton Fields

The NAIC's Reinsurance Regulatory Modernization Framework is now the subject of an redlined exposure draft, with a short comment period open until September 5, 2008. Florida and New York also have reinsurance collateral-related proposals pending. Carlton Fields partner Anthony Cicchetti summarizes these proposals in a Special Focus feature. Read the article.

This post written by Rollie Goss.