Last updated 12/5/2018
Our Special Focus articles expand on the normal size posts in Reinsurance Focus to provide detail on hot topics in the fields of reinsurance and arbitration.
Summary: This article explores whether the follow-the-fortunes doctrine is purely a matter of contract, or whether it is so ubiquitous that it should be implied into every reinsurance agreement. The courts are split on this issue. (posted September 4, 2018)
The NAIC Hearing Regarding the Implementation of the Covered Agreement
Summary: We continue to follow the implementation of the Covered Agreement with the E.U., with an article on a recent hearing held by the NAIC concerning the possible implementation of the reinsurance collateral provisions of the Covered Agreement through a revised Credit for Reinsurance Model Act and Regulation. (posted March 19, 2018)
Treasury Report on the Potential Regulatory Agenda for the Insurance Industry
Summary: The United States Treasury Department has issued a report that might provide a preview of the Trump Administration’s agenda for the insurance industry. (posted January 2, 2018)
Update on the Status of the Covered Agreement
Summary: The United States and the European Union have agreed to sign the Covered Agreement. This articles provides a guide to the complicated timelines for its implementation. (posted July 31, 2017)
The U.S.-E.U. Covered Agreement: Different Assessments By Different Audiences
Summary: The United States and the European Union have agreed to the final wording of a Covered Agreement which covers several topics, including the provision of collateral by foreign reinsurers. (posted February 20, 2017)
Summary: 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. (posted November 21, 2016)
What Is the Future of the Multi-State Allocation of Nonadmitted Premium Tax Revenue
Summary: An analysis of the status and the future of the two proposals for the implementation of the Dodd-Frank Act’s desire for a nationwide uniform process for the allocation of premium taxes for nonadmitted insurance. (posted May 2, 2016)
The Metlife Decision and SIFI Designations for Reinsurance Companies
Summary: A summary of the district court opinion rescinding the SIFI designation of Metlife and the possible implications for this decision for the reinsurance sector. (posted April 10, 2016)
The Arbitrability of Statutes of Limitations in Reinsurance Disputes
Summary: An analysis of whether a reinsurer’s statute of limitation defense should be decided by court or arbitrators. (posted January 25, 2016)
United States Supreme Court Considering a California Appellate Opinion Invalidating a Class Action Arbitration Waiver
Summary: A preview of an important arbitration cases being considered by the U.S. Supreme Court. (posted August 31, 2015)
The Discovery of Reinsurance-Related Information in a Non-Reinsurance Matter
Summary: An analysis of recent court opinions addressing the discoverability of reinsurance-related information in non-reinsurance matters. (posted July 7, 2015)
What the Insurance Industry Should Know About the IRS’s Campaign Against “Abusive” Micro Captives
Summary: A discussion of recent interest by the IRS in auditing small captive insurers. (posted June 29, 2015)
Credit for Reinsurance Laws – 2015 Legislative and Regulatory Developments
Summary: A summary of activity by state legislatures and state insurance departments with respect to credit for reinsurance laws and regulations during the first half of 2015. The majority of these legislative and regulatory developments reflect states seeking to modernize their reinsurance laws and adopt the National Association of Insurance Commissioners’ (“NAIC”) Credit for Reinsurance Model Law. (posted June 16, 2015)
The Honorable Engagement Provision
Summary: A discussion of a Court of Appeals opinion which gives practical effect to the honorable engagement provision of a reinsurance agreement. (posted June 8, 2015)
Disclosure of Reinsurance Agreements under Federal Rule of Civil Procedure 26
Summary: A discussion of if and when it is appropriate and necessary to include disclosures concerning reinsurance in the initial disclosures provided pursuant to FRCP 26(a)(1)(A)(iv). (posted December 29, 2014)
Is it Still Privileged? An Insurer’s Disclosure of Information to its Reinsurers and Brokers Waives Privilege … Sometimes
Summary: A discussion of the current status of the common interest privilege doctrine applied to the disclosure of information by an insurer to its reinsurers and broker. (posted October 21, 2014)
Is SLIMPACT Losing Steam? Tennessee Switches To NIMA
Summary: A discussion of the current status of multi-state cooperation concerning surplus lines premium tax regulation. (posted May 19, 2014)
Recent Developments in the Cat Bond and Reinsurance Markets
Summary: A discussion of the significant development of the cat bond market, growing competition between the cat bond market and the traditional reinsurance market and the influx of capital into the traditional reinsurance market. (posted April 22, 2013)
NAIC Focuses on Captives and SPVs
Summary: A discussion of the work of the NAIC’s sub-group on capitves and special purpose insurance vehicles. (posted December 17, 2012)
The Benefits of Cat Bonds for Ceding Insurers
Summary: A discussion of the benefits of Cat Bonds for ceding insurers and the developing ILS market for life and annuity risks. (posted August 27, 2012)
Revisiting AT&T v. Concepcion: Can You Hear Me Now?
Summary: A discussion of opinions which distinguish the Supreme Court’s Concepcion opinion and refuse to compel arbitration. (posted April 9, 2012)
Solvency Ho! An Update on U.S. and European Solvency Initiatives
Summary: A discussion of the progress in the NAIC’s solvency initiative and the EU’s Solvency II. (posted January 16, 2012)
Summary: A discussion of the revisions to the Credit for Reinsurance Model Law (#785) and Credit for Reinsurance Model Regulation (#786) adopted by the E Committee in September 2011, and by the full NAIC in November 2011. (posted October 4, 2011)
Prompt Notice in Reinsurance Claims
Summary: A discussion of recent opinions dealing with the different notice/prejudice rules for direct insurance and reinsurance claims, which vary from state to state. (posted September 26, 2011)
Additional Special Focus items may be found in the SPECIAL FOCUS category of this blog.