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News and Insights

Oklahoma District Court Approves First U.S. Insurance Business Transfer – A New Era for the Insurance Industry

By: Maureen Henderson | 10-27-2020

Blogs Insurance Regulatory and Compliance

On October 16, 2020, the District Court of Oklahoma County approved Providence Washington Insurance Company (PWIC) to complete its Insurance Business Transfer (IBT) Plan, making it the first such transfer in the United States. As a result, all of PWIC’s transferred insurance contracts novated to Yosemite Insurance Co., an Oklahoma insurance company. Yosemite is Read…

Market Conduct Analysis Statement Blanks (D) Working Group – Impacting Market Conduct surveillance – Accelerated Underwriting—putting the cart before the horse.

By: Maureen Henderson | 10-26-2020

Blogs Insurance Regulatory and Compliance

One of the working groups under the National Association of Insurance Commissioners (NAIC’s) Market Regulation and Consumer Affairs (D) Committee, the Market Conduct Annual Statement Blanks (D) Working Group’s goal is to collect uniform market conduct related data not otherwise available. To that end, the Blanks Working Group drafts and approves reporting Blanks and Read…

2020 NAIC Summit Recap

By: Maureen Henderson | 10-07-2020

Blogs Insurance Regulatory and Compliance

The National Association of Insurance Commissioners (NAIC) hosted their 2020 Virtual Insurance Summit in a new two-week format during September 8-10 & 15-17, 2020. The Insurance Summit is hosted by NAIC and the National Insurance Producer Registry (NIPR). This premier event brings together innovators and regulators to explore the future of insurance regulation. Building Read…