Florida Governor Rick Scott has acted on all legislation approved during the 2017 Regular Session and Special Session A. As such, we have updated our final report on insurance issues. This report provides an outline of all insurance issues that were approved and those that did not pass this year. Please note that many of … Continue Reading
On June 7, 2017, the U.S. House Financial Services Committee held a hearing entitled “Flood Insurance Reform: A Taxpayer’s Perspective.” The hearing examined the National Flood Insurance Program (NFIP) and six legislative concepts to reform the program. Witnesses discussed how the reforms would strengthen taxpayer protections; provide greater private market access, competition, and consumer choice; … Continue Reading
Corporate governance in insurance continues to be a growing focus among state regulators. The National Association of Insurance Commissioners (the NAIC) adopted the Corporate Governance Annual Disclosure (CGAD) Model Act and Model Regulation in 2014, which set forth requirements insurers will need to implement and disclose. Currently, 14 states (California, Connecticut, Florida, Idaho, Indiana, Iowa, … Continue Reading
The IRS has decided to back off its position that the 1 percent excise tax is due on a policy of reinsurance where a foreign reinsurer reinsures a policy of reinsurance issued by another foreign reinsurer (referred to in the industry as a retrocession policy). Foreign reinsurers who have previously paid the excise tax on … Continue Reading
Nanette Aguirre, a shareholder in the New York office of international law firm Greenberg Traurig, participated in a National Association of Black Accountants (NABA) Finance and Law program on Dec. 1 at Baruch College. Among the topic areas that were discussed in depth were matters concerning derivatives, the regulatory environment, and the importance of merging … Continue Reading
Ernesto A. Lanza, shareholder in Greenberg Traurig’s Public Finance Practice, participated in the National Association of Bond Lawyers 40th Annual Bond Attorneys’ Workshop, Sept. 9-11, in Chicago, IL. Lanza spoke in the panels “Underwriter’s Counsel Roundtable” and “Hot Topics in Securities Laws.” The workshop summed up the year’s securities and tax law developments, IRS and … Continue Reading
Ernesto A. Lanza, shareholder in Greenberg Traurig’s Public Finance Practice, will be participating in the 529 Conference hosted by PlanAdviser from Sept. 29-30 in Orlando. PlanAdviser’s Third Annual 529 Conference will drill down into the most significant trends and challenges facing the industry today, including critical conversation and debate surrounding the latest product innovations, investment … Continue Reading
Greenberg Traurig and the ACC Southern California Financial Services Committee hosted a Hot Topics & Recent Developments in Financial Services Law program on Aug. 6 in Los Angeles. The interactive roundtable program discussion was led by Greenberg Traurig shareholders, Jennifer Gray and Eric Rowen, co-chair of the Real Estate Litigation Practice and chair of the western … Continue Reading
Greenberg Traurig’s Brett Kitt, of counsel in the Financial Regulatory & Compliance Group, will present at the Online Lenders Alliance Compliance University Conference in Washington, D.C. from July 28-29. The program will offer compliance officers and heads of companies the opportunity to learn more about upcoming Consumer Financial Protection Bureau (CFPB) rules and the most recent industry … Continue Reading
