BMA Announces Solvency II Will Not Apply to Captives
Joining Guernsey and the Cayman Islands, Jeremy Cox, CEO of the Bermuda Monetary Authority, announced that Bermuda will not apply Solvency II to captives. Mr. Cox’s remarks came during his...
View ArticleValidus Launches a Challenge to the IRS’ Cascading Federal Excise Tax Ruling
On 25 January 2013, Validus Reinsurance Ltd (Validus), a reinsurer domiciled in Bermuda, filed a suit in the District Court of the District of Columbia against the United States of America for the...
View ArticleSwan Appointed Managing Director, Supervision by BMA
The Bermuda Monetary Authority (BMA) announced that it has appointed Craig Swan, formerly the BMA’s Director, Insurance Supervision, to the newly created post Managing Director, Supervision. Mr. Swan...
View ArticleLL Surplus Lines Series (Entry 1): Blog Series Launch
Locke Lord is pleased to announce the launch of its newest blog series, the LL Surplus Lines Series! The LL Surplus Lines Series is designed to help the insurance industry keep up with the newest...
View ArticleLL Surplus Lines Series (Entry 2): New York to Consider Elimination of...
One of the hallmarks of surplus lines regulation throughout the United States is the “diligent search” requirement whereby the surplus lines broker (or retail producer) must attempt to place insurance...
View ArticleLL Surplus Lines Series (Entry 3): Revisions to Montana’s Surplus Lines Laws
Montana amended its insurance code to revise certain definitions and update certain provisions relating to surplus lines insurance effective March 7, 2019; the amendments can be found here. Section...
View ArticleWhat Every InsurTech Should Know About Accountants
This post was written with guidance from Carrie Small, Insurance partner, Baker Tilly, and Kaelan Ward, Director, Baker Tilly You have now raised capital initially using a Convertible Promissory Note...
View ArticleLL Surplus Lines Series (Entry 5): 2019 WSIA Spring Surplus Lines Law Group...
The Surplus Lines Law Group held its spring meeting on Friday, April 5 in Biloxi, Mississippi. A number of presentations were given at the meeting, including updates on the trends around the nation...
View ArticleWhat Every InsurTech Should Know About Privacy and Cybersecurity
As an early stage or startup InsurTech, you’re highly focused on all the right things: identifying a challenge for the insurance industry, developing an innovative technical solution, making it...
View ArticleA New Type of ILS Investment – Cyber Insurance CAT Bonds
Specialty insurer Beazley sponsored the first Cyber Insurance Catastrophe (CAT) bond recently, a new type of ILS or insurance linked security issued by a Bermuda entity. They announced the $45 million...
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