Legal Developments
UK Amends 1993 Reinsurance (Acts of Terrorism) Act
The UK government has committed to amend the 1993 Reinsurance (Acts of Terrorism) Act to extend Pool Re coverage to include non-damage business interruption losses resulting from acts of terrorism. Pool Re was founded by the UK insurance industry in cooperation with the UK government. Read More
Captive Domiciles Continue To Fine-Tune Their Captive Statutes
Legislators in states with captive insurance company laws are continuing their drive to modify their states' captive insurance company statutes to stay competitive with other domiciles. Read the latest roundup of state captive legislation in 2018. Read More
Fight To Protect Restoration RRG and Other RRGs in Wisconsin Continues
In what the National Risk Retention Association says is a win, on January 12, 2018, in a case involving Restoration Risk Retention Group (Restoration RRG), the US Court of Appeals for the Seventh Circuit vacated and remanded the case back to the US District Court for the Western District of Wisconsin. Read More
Survey Tracks Global Cyber-Risk Perception Leading into GDPR Implementation
The upcoming implementation of the European Union's General Data Protection Regulation (GDPR), that takes effect in May 2018, has elevated cyber risk to the top of the corporate agenda for organizations doing business in Europe according to a Marsh report titled "GDPR Preparedness: An Indicator of Cyber Risk Management." Read More
New Bill Introduced To Restore FHLB Membership for Captive Insurers
US senators have introduced a new bill, the Housing Opportunity Mortgage Expansion Act, to restore membership for captive insurers that were removed from the Federal Home Loan Bank (FHLB) system and also seek to continue membership for remaining captive insurers that are scheduled to be forced to exit the system. Read More