This newsletter is prepared as a source of general information concerning recent insurance business and regulatory law developments. If you would like more information, please contact a member of our Insurance Business and Regulatory Law group. For a printable version of this newsletter, click here. |
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Spring 2011 |
Insurance Business & Regulatory News |
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Inside this Issue: |
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Foreign Captives: State Regulation and Taxation |
By Justin Liby |
All states require foreign insurers to obtain a certificate of authority before transacting insurance within the state and to pay premium taxes on the insurance business written by the insurer in the state, unless the insurer qualifies for an exemption from the requirements. Captive insurers usually only hold a certificate of authority and pay premium taxes in their domiciliary states. The ability to avoid the costs associated with multi-state licensure and the premium tax requirements in other states is often touted as an advantage to using a captive arrangement. [ Read article ] |
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State Spotlights: |
Kansas Update |
By Jeffery S. Bottenberg |
The Kansas Insurance Department (KID) enacted K.A.R. 40-9-23, which adopts the KID’s adaptation of the NAIC Model Regulation Regarding the Use of Senior-Specific Certifications and Professional Designations in the Sale of Life Insurance and Annuities. The regulation became effective on January 14, 2011. [ Read article ] |
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Missouri Update |
By Keith A. Wenzel |
Director John Huff of the Missouri Department of Insurance, Financial Institutions and Professional Registration (DIFP) has been very active in the National Association of Insurance Commissioners (NAIC) since his appointment as Director in February 2009. Recently, he was appointed by the NAIC to serve in two very prominent positions. [ Read article ] |
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Arizona Update |
By Richard M. Amoroso and Tiffany J. Andersen |
On January 11, 2011, the Arizona Department of Insurance (ADOI) issued Regulatory Bulletin 2011-01 addressing the prohibited practice of misrepresenting the terms of an insurance policy through the issuance of a certificate of insurance that attempts to amend or alter the terms of the insurance policy. [ Read article ] |
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Colorado Update |
By Jennifer L. Osborn |
On December 1, 2010, John J. Postolowski, the former deputy commissioner of finance and administration, began serving as the interim commissioner of insurance, pending permanent appointment by the Governor. [ Read article ] |
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NAIC Corner |
By Zachary R. Dyer |
Growing concerns regarding stranger-originated annuity transactions (STOA) prompted the NAIC to develop a draft model bulletin suggesting approaches for insurance companies to identify and guard against such transactions. [ Read article ] |
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For More Information:
If you have questions about, or would like more information regarding, any of the articles which appear in this newsletter, please contact the author or any member of our Insurance Business and Regulatory Law group.
For a printable version of this newsletter, click here. |
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Polsinelli Shughart | In the News |
Headlines and Bylines from polsinelli.com |
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About Polsinelli Shughart PC
With more than 500 attorneys, Polsinelli Shughart PC is a national law firm that is a recognized leader in the areas of business law, financial services, real estate and business litigation. Serving corporate, institutional and individual clients, Polsinelli Shughart is redefining the business of law by sharing ideas, goals and outcomes with its clients. The firm builds enduring relationships by creating value beyond legal services – with passion, ingenuity and a sense of urgency. The firm can be found at www.polsinelli.com. |
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