New reinsurance-related and arbitration developments from Carlton Fields
There is considerable uncertainty as to how President-elect Trump may proceed with respect to the regulation of the financial services sector of the U.S. economy. We present one possible approach, based on a pending bill, in a Special Focus article, What Might Be the Future of the Dodd-Frank Act’s Insurance and Reinsurance-Related Provisions in a Trump Administration.
This post written by Rollie Goss.
See our disclaimer.
In the portion of the Dodd-Frank Act known as the Nonadmitted and Reinsurance Reform Act, Congress established a public policy and stated its desire that “each State adopt nationwide uniform requirements, forms, and procedures, such as an interstate compact, which provide for the reporting, payment, collection, and allocation of premium taxes for nonadmitted insurance ….” 15 U.S.C. § 8201(b)(4) . In a Special Focus article we provide an update on the lack of progress made by the states towards this goal.
This post written by Rollie Goss.
See our disclaimer.
The designation of MetLife as a systemically significant nonbank financial institution (SIFI) by the Financial Stability Oversight Council (FSOC) was recently rescinded by the United States District Court for the District of Columbia. The Treasury Department has indicated that the government will appeal the decision. In a SPECIAL FOCUS article, Roland Goss profiles the court decision and the prospects for a reinsurance company being designated by FSOC as a SIFI.
This post written by Rollie Goss.
See our disclaimer.
In a Special Focus article, Rob DiUbaldo and Jeanne Kohler address the question of whether a reinsurer’s statute of limitations defense is an issue for arbitrators to resolve, or one that must be decided by a court of competent jurisdiction.
In a Special Focus article Rollie Goss previews another arbitration case coming before the United States Supreme Court involving the issue of whether a class arbitration waiver is unconscionable, and the impact of such a finding on the viability of the agreement to arbitrate.
This post written by Rollie Goss.
See our disclaimer.