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Executive Appointments
The Executive Committee of the NAIC has announced plans to establish an American Indian Liaison Committee to address insurance issues involving the cooperation and relationship between sovereign states and sovereign tribal nations. 19 April 2013
Cayman analysis
In its latest Global Forum Peer Review, the OECD has given Cayman top marks for its “robust and transparent” legal and regulatory regime. 18 April 2013
Law & regulation
The Captive Insurance Companies Association (CICA) has renewed its support for the Coalition for Competitive Insurance Rates (CCIR) in response to the US budget. 18 April 2013
Law & regulation
A court of appeals has affirmed a District Court ruling that the State of Nevada cannot deny a risk retention group the right to do business in the State, ending a dispute that began in 2010. 17 April 2013
Law & regulation
Energy giant, BP’s Vermont-based Saturn captive has had its A- rating affirmed by AM Best; in a move that reflects its strong capitalisation, “low risk retention and excellent group reinsurance support.” 16 April 2013
Law & regulation
Delaware-domiciled United Contractors’ Insurance Company was downgraded by A.M. Best, their financial strength rating falling to C- and issuer credit rating to “cc”, before the rating agency withdrew the ratings at the request of the company’s management. 10 April 2013
Bermuda analysis
A.M. Best announced that Bermuda-domiciled Transmonde Services Insurance Company has been upgraded to a financial strength rating of A (Excellent) from A-. 8 April 2013
Analysis
The Cayman Islands government has announced its adoption of Model 1 of the intergovernmental agreement on FATCA, with similar agreements forthcoming with the UK. 5 April 2013
Analysis
The European Insurance and Occupational Pensions Authority (EIOPA) has launched a public consultation on guidelines related to preparations for Solvency II. 4 April 2013
Accounting & tax analysis
Guernsey has signed a double taxation agreement with Qatar in a move that will cement growing commercial ties between the two domiciles. 4 April 2013
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