Any excess line policy submitted to the Excess Line Association of New York (“ELANY”) that contains the so-called “Most Favored Nation” punitive damage insurability clause or similar language...
Category: National News
The International Association of Insurance Supervisors (“IAIS”) announced last week, June 25, 2015, that it has begun a public consultation to help finalize development of the Higher Loss Absorbency...
Federal Agencies Issue Flood Insurance Rule; Biggert-Waters Private Flood Insurance Rulemaking to Come
June 22, 2015
Five federal regulatory agencies have approved a joint final Rule that modifies regulations applicable to loans secured by properties located in special flood hazard areas. Issued today, June 22, 2015, by the...
Above: Colodny Fass’ Claude Mueller Advises Texas Department of Insurance Has Adopted NAIC Risk-Based Capital Provisions The Texas Department of Insurance (“TDI”) advised yesterday, June 18,...
Above: Colodny Fass’ Donovan Brown Notes Today’s California Labor Commission Ruling on Uber Reuters reported this morning, June 17, 2015, that the California Labor Commission has ruled Uber drivers...
Nevada Insurance Commissioner Scott Kipper Resigns
June 11, 2015
Nevada’s Commissioner of Insurance Scott J. Kipper has resigned as State Commissioner for the Nevada Division of Insurance (“Division”), effective July 2, 2015. “It has been an honor to have...
Federal Agencies Issue Final Standards for Assessing Diversity Policies and Practices of Regulated Entities
June 10, 2015
An assortment of federal agencies issued a final interagency policy statement today, June 10, 2015, establishing joint standards for assessing the diversity policies and practices of the entities they regulate. To view...
Financial Accounting Standards Board Issues Update on Short-Duration Insurance Disclosures
May 22, 2015
The Financial Accounting Standards Board (“FASB”) issued an Accounting Standards Update (“ASU”) yesterday, May 21, 2015, that is intended to make targeted improvements to disclosure requirements...
Above: Colodny Fass’ Donovan Brown Notes Comment Deadline on NAIC Draft Price Optimization White Paper Is July 3 With a long list of comments already having been submitted on a draft white paper explaining...
Special Data Call for 2014 Commercial Property and Business Owners’ Direct Written Premium in the Texas Catastrophe Area
April 29, 2015
Above: Colodny Fass Insurance Regulatory Lawyer Sharlee Hobbs Edwards Notes Special Texas Data Call Due May 27 The Texas Department of Insurance (“TDI”) advised yesterday, April 28, 2015, that it is...