Articles

Law & regulation

Global Century Insurance Brokers and Quantibridge Capital accused of defrauding Vermont-based RRG

Michael Pieciak, the commissioner of the Vermont Department of Financial Regulation, has filed a suit against Global Century Insurance Brokers (GCIB) and Quantibridge Capital, as well as individuals Jasbir Thandi and Jaspreet Singh Padda, for allegedly participating in a scheme to defraud Global Hawk Insurance Company Risk Retention Group.   3 November 2020

Law & regulation

US Court of Appeals declines to rehear Shivkov vs Artex case

The US Court of Appeals for the Ninth Circuit has denied a petition to rehear the case Shivkov versus Artex.   29 October 2020

Law & regulation

Utah instigates process to allow for a state captive insurance company

The Business and Labour Committee for the State of Utah has unanimously approved a motion to introduce a bill that will allow the state to operate its own captive insurance company.   21 October 2020

Law & regulation

Anguilla and Barbados added to EU blacklist

The European Council had added Anguilla and Barbados to the EU “blacklist” of non-cooperative jurisdictions for tax purposes.   20 October 2020

Law & regulation

Connecticut insurance regulator promotes Fenhua Liu to director of captives

Fenhua Liu has been named as the new director of the Connecticut Insurance Department’s captive insurance division.   15 September 2020

Law & regulation

US Court of Appeals decides Artex vs. Shivkov dispute must be settled by individual arbitration

The US Court of Appeals for the Ninth Circuit has decided in favour of Artex Risk Solutions and TSA Holdings, formerly Tribeca Strategic Advisors in an appeal of the case Shivkov vs Artex Risk Solutions.   11 September 2020

Law & regulation

Law firm Carton Fields hires two insurance specialists

Law firm Carlton Fields has hired Thomas Morante and Yani Contreras to serve on its financial services regulatory practice group and life, annuity and retirement solutions industry group.   11 September 2020

Law & regulation

Arsenal hires Cassie Bachman as internal legal counsel

Arsenal has hired Cassie Bachman as director of legal affairs, who serves as the internal legal counsel for Arsenal and its subsidiaries.   10 September 2020

Law & regulation

BMA promotes Gerald Gakundi to director of supervision for insurance

The Bermuda Monetary Authority (BMA) has named Gerald Gakundi as its new director of supervision for insurance, promoting him from his former role of deputy director of the group.   2 September 2020

Law & regulation

Oklahoma reduces capitalisation requirement for some special purpose captives

The Oklahoma Insurance Department (OID) has reduced the capitalisation requirement for certain special purpose captive insurers to $50,000, effective from September 16, 2020.   26 August 2020

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