FORC Journal - Vol. 28 Edition 3 - Winter 2017

It is our honor to present this 3rd edition of volume 28 of the FORC Journal of Insurance Law and Regulation. This edition covers issues such as the Model Holding Company Act amendments, insurance agents as employees for ERISA purposes, the Federal Insurance Office and Dodd Frank, Corporate Governance and Cyber, and an overview of Arizona’s captive insurer requirements. Thank you for your participation. We hope that those who attended the NAIC Fall Meeting in Hawaii had a good visit and look to seeing you all at the NAIC Winter Meeting in Milwaukee.

Dan Cotter & Kori Johanson, Journal Co-Editors

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CORPORATE GOVERNANCE IN INSURANCE: CREATING EFFECTIVE MECHANISMS TO ADDRESS CYBERSECURITY THREATS

By  Fred E. Karlinsky, Esq. GREENBERG TRAURIG, P.A. Richard J. Fidei, Esq. GREENBERG TRAURIG, P.A. Christian Brito, Esq. GREENBERG TRAURIG, P.A.
Recent litigation and regulatory action have demonstrated that the responsibility for maintaining a company’s cybersecurity rests with the board of directors.

INSURANCE AGENTS HELD TO BE EMPLOYEES FOR ERISA PURPOSES

By  Anthony Spina VORYS, SATER, SEYMOUR AND PEASE LLP Thomas Szykowny VORYS, SATER, SEYMOUR AND PEASE LLP
In August 2017, the United States District Court for the Northern District of Ohio certified insurance agents who claimed they were misclassified as independent contractors.

AMENDATORY PROVISIONS IN THE OKLAHOMA HOLDING COMPANY ACT

By  J. Angela Ables KERR, IRVINE, RHODES & ABLES, P.C.
The 2017 Oklahoma Legislature amended the Holding Company Act to meet the NAIC Model requirements.

OVERVIEW OF ARIZONA’S CAPTIVE INSURANCE LAWS AND REQUIREMENTS

By  J. Michael Low KUTAK ROCK LLP
Twenty-four U.S. states have adopted captive insurance programs providing alternative risk mechanisms to attract American businesses.

THE IMPACT OF THE CURRENT ADMINISTRATION ON THE FIO AND DODD-FRANK

By  Frederick J. Pomerantz GOLDBERG SEGALLA LLP
The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted to correct perceived gaps in regulations impacting certain practices in the in the financial services industry.