North America: Insurance

The United States District Court for the District of New Jersey, applying New Jersey law, held that a D&O policy’s false advertising and unfair business practices exclusion barred coverage for an enforcement action alleging that a merchant cash advance company engaged in illegal lending and marketing practices. Yellowstone Capital LLC v. Argonaut Insurance Co., 2026 WL 2321647 (D.N.J. Aug. 11, 2026).

The Cayman Islands Monetary Authority has introduced new binding AML and Sanctions Rules for insurance sector licensees, elevating previously non-binding guidance to enforceable regulatory requirements. These Rules impose specific obligations around customer due diligence, risk assessments, independent audits, and sanctions screening, with varying applicability depending on whether insurers conduct 'relevant financial business' under the Proceeds of Crime Act.

The Trump administration has finalized sweeping changes to healthcare price transparency rules, requiring health plans and insurers to standardize machine-readable pricing files, attest to data accuracy through executive certification, and provide consumers with personalized cost information by phone. These regulations, effective December 2026 through July 2028...

The 2026 Bermuda International Life and Annuity Conference explored Bermuda's expanding role in addressing global retirement and longevity challenges, with industry leaders examining the jurisdiction's regulatory strength, growing APAC market presence, and capacity to support long-term insurance solutions. Key discussions centered on closing the worldwide retirement gap, the strategic use of private credit, and what sustains Bermuda's competitive position in the international reinsurance marketplace.

This edition explores the developments, opportunities and regulatory shifts shaping the Cayman Islands insurance and reinsurance sector, examining reinsurance financing structures, tokenised risk financing solutions, and the latest industry statistics emerging from key gatherings including the NAIC Summer Meeting and Monte Carlo. The newsletter highlights significant regulatory developments impacting insurers and reinsurers, including CIMA's thematic review, revised Enforcement Manual, and new enforceable r

The Cayman Islands Monetary Authority has published a revised Enforcement Manual that significantly expands its publication framework for enforcement actions against regulated entities. For reinsurance companies operating as Class B or Class D insurers, the Manual clarifies CIMA's broad enforcement toolkit and highlights critical compliance areas where boards must maintain vigilant oversight. Understanding these enforcement priorities and reputational risks is essential for maintaining regulatory standing a