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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Summer 2011 |
Insurance Business & Regulatory News |
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Inside this Issue: |
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Accountable Care Organizations:
Understanding the Licensing Requirements |
By Jennifer L. Osborn |
A key provision of the Patient Protection
and Affordable Care Act (ACA) and its implemented regulations encourages insurers, hospitals, doctors’ groups and other providers to form innovative patient care arrangements called accountable care organizations (ACOs). ACOs are intended to be organizations of health care providers that agree to be accountable for the quality, cost and overall care of Medicare beneficiaries in the program who are assigned to it. The goal is to offer patients unified care systems with electronic health records, quality measurements and best-practices medicine. [ Read article ] |
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State Regulators’ Escheat Probe Expands |
By Steven L. Imber |
State regulators continue to expand their investigation of the claims settlement practices of the life insurance industry. Working through the National Association of Insurance Commissioners (NAIC), state insurance regulators have formed a special task force (“Multistate Examinations/ Settlements Covering Life and Annuities Claim Settlement Practices Including Unclaimed Property”) to help coordinate regulatory investigations involving the claim settlement practices of life insurance companies. [ Read article ] |
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CCIO’s First Release of States With Ineffective Rate Review Systems |
By Jeffery S. Bottenberg |
On March 23, 2009, President Obama signed the Patient Protection and Affordable Care Act (ACA) into law. Included in the ACA was a requirement that beginning September 1, 2011, any proposed rate increase in the individual or small group market at or above 10 percent must be reviewed by state regulators, as long as the state has an effective rate review system. If an effective rate review system is not in place, HHS will conduct the review. Beginning September 1, 2012, the threshold for review will be set using state specific data.. [ Read article ] |
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State Spotlights: |
Arizona Update |
By Richard M. Amoroso and Lauren A.Crawford |
House Bill 2617 addresses workers’ compensation claims in Arizona. It was signed by Governor Brewer on April 18, 2011 and became effective on July 20, 2011. [ Read article ] |
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Colorado Update |
By Zachary R. Dyer |
Legislative attention to insurance issues was primarily focused in complying with the mandates of two 2010
federal acts; the Patient Protection and Affordable Care Act and the Health Care Education and Reconciliation Act. The following insurance related bills were passed during the 2011 Legislative Session. [ Read article ] |
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Illinois Update |
By Keith A. Wenzel |
Senate Bill 152 requires all insurers to arbitrate and
settle physical damage subrogation claims, when the amount in controversy, exclusive of arbitration costs,
is less than $2,500 when such claims arise from auto damages incurred on or after January 1, 2012. [ Read article ] |
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Kansas Update |
By William W. Sneed |
House Bill 2074 amends a rate filing provision for certain lines of property and casualty insurance to exempt trade
secrets and copyrighted material in an insurance filing or any supporting documentation for the filing from disclosure in open record requests. [ Read article ] |
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Missouri Update |
By Keith A. Wenzel |
House Bill 407 prohibits a person from issuing a certificate of insurance form regarding property and casualty insurance unless it has first been filed with the Department of Insurance, Financial Institutions and Professional Registration. Likewise, any modifications to a filed certificate of insurance must be filed with the Department. [ 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: |
With more than 540 attorneys, Polsinelli Shughart 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 through legal services – with passion, ingenuity and a sense of urgency. The firm can be found online at www.polsinelli.com. Polsinelli Shughart PC. In California, Polsinelli Shughart LLP. |
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