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THE UNIFORM RECEIVERSHIP LAW
Michael J. Dugan, Esq. Robert F. Craig In September 1998, the members of the Interstate Insurance Receivership Commission2 formally adopted the Interstate Insurance Receivership Compact's Uniform Receivership Law ("URL"), a comprehensive statutory structure for the administration of what are currently "formal delinquency proceedings," rehabilitation and liquidation as well as "conservation," the seizure and control of an insurer's business and assets on a temporary basis pending further analysis and the decision on whether to pursue either rehabilitation or liquidation.
ONE STATE'S ANSWER TO COMPETITIVE RATING
Robert E. Joseph, Esq. Early in 1998, the Administrator of the Insurance Division of the Department of Consumer and Business Services of the State of Oregon wrote to the state's Attorney General and inquired about several aspects of Oregon's workers' compensation program.
INVESTMENTS IN APARTMENT PROJECTS OR UNIMPROVED REAL ESTATE BY SUBSIDIARIES OF INSURERS AUTHORIZED TO DO BUSINESS IN TEXAS
David D. Knoll, Esq. Examiners of the Texas Department of Insurance have recently been challenging and refusing to admint investments in subsidiaries by insurers authorized to do business in Texas when such subsidiaries hold investments in unimproved real estate and apartment projects, contending that such investments violate both Texas laws prohibiting direct investments by insurers in such projects1 and the Texas Insurance Holding Company System Regulatory Act (the "Holding Company Act") which, the examiners contend, prohibits indirect actions by insurers that would otherwise violate the Code.2
RECENT DECISIONS IMPACTING "BAD FAITH" LAW IN NEW JERSEY
Kenneth D. Merin, Esq. Michael F. O'Neill, Esq. New Jersey has long been recognized as an insured friendly jurisdiction on the majority of insurance coverage issues. As a result, insureds large and small have flocked to New Jersey in an effort to gain a favorable forum in which to litigate large exposure insurance coverage issues.
ENFORCEABILITY OF OTC DERIVATIVE TRANSACTIONS AGAINST INSOLVENT INSURANCE COMPANIES
Kenneth R. Wylie, Esq. The insolvency of an insurance company that is a party to a derivative agreement or transaction2 may create legal uncertainties with respect to the enforceability of early termination and netting provisions commonly used in such agreements and transactions.
RECENT LEGISLATIVE EFFORTS AND CHANGES TO TEXAS PROPERTY AND CASUALTY AGENT LICENSING LAWS
Kimberly A. Yelkin, Esq. Melissa A. Eason, Esq. Following a 1997 mandate from the Texas Legislature, the Texas Department of Insurance created a working group to study state law regarding insurance agent licensing. |
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