Market News
Georgia To Amend Its Captive Insurance Company Act
Senate Bill 173 to the state of Georgia Captive Insurance Company Act was sent to the governor to sign. The bill incorporated revisions to certain provisions and definitions that clarify the Captive Insurance Company Act, impose minimum requirements for articles of incorporation, allow captives to be formed as limited liability companies rather than stock companies, place restrictions on agency captives, and provide for certain powers and requirements by the commissioner of insurance. Read More
A.M. Best Affirms Credit Ratings of Pfizer Captive Blue Whale Re Ltd.
A.M. Best has affirmed positive financial and credit ratings of Blue Whale Re Ltd. This is the Vermont-domiciled single-parent captive of pharmaceutical giant Pfizer. The company received a positive Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of "a+." Read More
NRRA Files Amicus Brief in Restoration RRG Appeal
The National Risk Retention Association filed an amicus curiae brief in support of Restoration RRG in its recent court appeal, challenging the Wisconsin Department of Safety and Professional Services for discrimination against risk retention groups. Read More
IAIS Launches New Consultation Package
The International Association of Insurance Supervisors (IAIS) has launched a new consultation package and is seeking public feedback via one more upcoming public background session. The consultation focuses on revised Insurance Core Principles (ICPs), ComFrame-specific material, and a new draft "Application Paper on Group Corporate Governance." Read More
Litigation Strategy for Cyber-Security Lawsuits
Liability arising from data breach is of growing concern for all businesses. A January 2017 article in "Pratt's Privacy & Cybersecurity Law Report" discusses basing a motion to dismiss on lack of standing. Read More