Insurance News
Regulatory updates in plain English
Stay current with the latest from CMS, state departments of insurance, NAIC, the Federal Register, and Congress — rewritten so you can actually understand what it means for your practice.
Administrative Simplification; Adoption of Standards for Health Care Claims Attachments Transactions and Electronic Signatures Final Rule CMS-0053-F
The Centers for Medicare & Medicaid Services (CMS) has introduced new rules that set standards for electronically sharing health care claims attachments, like medical records and lab results. This means that health care providers can now send important documents securely and quickly without using fa...
Exemption for Certain Prohibited Transactions Involving Mid-America Carpenters Regional Council Apprentice and Training Fund (the Fund or Applicant) Located in St. Louis, Missouri
The Mid-America Carpenters Regional Council Apprentice and Training Fund in St. Louis, Missouri, has received permission to sell real estate to the Mid-America Carpenters Regional Council. Normally, this kind of sale would be against the law under the Employee Retirement Income Security Act of 1974 ...
Information Reporting and Transfer for Valuable Consideration Rules for Section 1035 Exchanges of Life Insurance and Certain Other Life Insurance Contract Transactions
New rules have been established regarding the reporting and transfer of life insurance contracts when they are exchanged for valuable consideration. These rules specifically impact transactions where life insurance contracts are sold or exchanged in a way that avoids recognizing any gain or loss. Th...
Self-Regulatory Organizations; Municipal Securities Rulemaking Board; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Consisting of Amendments to MSRB Rule G-28, on Transactions With Employees and Partners of Other Municipal Securities Professionals, To Harmonize and Better Align With FINRA Rule 3210, on Accounts at Other Broker-Dealers and Financial Institutions
The Municipal Securities Rulemaking Board (MSRB) has updated its rules to better match the Financial Industry Regulatory Authority (FINRA) guidelines. This change affects municipal securities professionals who handle accounts with other financial institutions, such as banks and insurance companies. ...
Publication of Iranian Transactions and Sanctions Regulations Web General Licenses
The U.S. Treasury's Office of Foreign Assets Control (OFAC) has released two new general licenses related to sanctions on Iran, known as GLs S and T. These licenses provide specific permissions for transactions that were previously restricted under the sanctions. Insurance agents should review these...
Administrative Simplification; Adoption of Standards for Health Care Claims Attachments Transactions and Electronic Signatures
New rules have been established to simplify health care claims processes. These changes affect health insurance providers and healthcare professionals by introducing new standards for how claims attachments are handled and requiring the use of electronic signatures for these transactions. Insurance ...
BE-45: Quarterly Survey of Insurance Transactions by U.S. Insurance Companies With Foreign Persons
The Bureau of Economic Analysis (BEA) is conducting a mandatory survey called the Quarterly Survey of Insurance Transactions by U.S. Insurance Companies with Foreign Persons (BE-45). This survey collects data to help understand U.S. trade in insurance services and its effects on both the U.S. and fo...