Snow Covered AgreementCovered Agreement • January 30th, 2024
Contract Type FiledJanuary 30th, 2024
The Future of the US–EU Covered Agreement: How to Drag an Absurdly Federalist Regulatory System into the Global Reinsurance MarketplaceCovered Agreement • February 4th, 2019
Contract Type FiledFebruary 4th, 2019The US–EU Covered Agreement (“Covered Agreement”) is a bilateral agreement between the United States (“US”) and the European Union (“EU”) that puts in place regulations that will govern the insurance and reinsurance industries in those regions.1 This agreement represents an early step towards what will likely become a more standardized and integrated approach to international regulation of insurance markets. This note will give the context and background necessary to understand the Covered Agreement, explain the main provisions of the Covered Agreement, analyze criticisms and next steps, and advocate for a specific implementation of the Covered Agreement.
Covered Agreement on Reinsurance Consumer Protection CollateralCovered Agreement • December 2nd, 2016
Contract Type FiledDecember 2nd, 2016• Historically, state insurance regulators have required foreign reinsurers to hold 100% collateral within the U.S. for the risks they assume from U.S. insurers. As reinsurers are ultimately providing insurance to other insurance companies that are directly protecting American policyholders, requiring consumer protection collateral in the