Legal Developments
Will the NAIC Insurance Data Security Model Law Apply to Captives?
The Insurance Data Security Model Law is being drafted to apply to traditional insurance companies, but there is some concern that, as drafted, the language would also be deemed to apply to captive insurers domiciled in the states that enact it. This article explains why. Read More
Competing Cyber-Security Laws: NAIC v. New York
Many captives are probably aware of the work being done at the National Association of Insurance Commissioners (NAIC) concerning cyber-security risks. This process began in late 2014 when the NAIC's Executive (EX) Committee appointed a "Cybersecurity (EX) Task Force" to serve as the point group on all regulatory matters related to cyber-security. In April 2015, the Cybersecurity Task Force adopted the Principles for Effective Cybersecurity: Insurance Regulatory Guidance."" Read More
Oklahoma Workers Compensation Opt-Out Statute Ruled Unconstitutional
In a 7-2 ruling on September 13, 2016, the Oklahoma Supreme Court ruled that the state workers compensation opt-out statue is unconstitutional. The court ruling was based upon the fact that one group of injured workers was being treated differently from all other injured workers in the state. Read More
Court Ruled ERISA Does Not Preempt the Michigan Healthcare Claims Tax
The Health Insurance Claims Assessment Act (Michigan Act) that imposed a .75 percent tax on all paid healthcare claims for Michigan self-insureds and other employers has been upheld by the 6th U.S. Circuit Court of Appeals in Cincinnati. Read More
NRRA Files Amicus Curiae Brief in Continuing Effort To Benefit RRGs
The National Risk Retention Association (NRRA) last month filed an amicus curiae brief in the Louisiana Supreme Court in support of CPA Mutual RRG in the ongoing case of Zeigler v. Hous. Auth. of New Orleans, according to an NRRA press release. Read More