Dewey & LeBoeuf’s Peter S. Rice to Speak at Knowledge Congress’ Understanding New Capital Reserve Requirements for the Life Insurance Industry
New York, NY, July 09, 2009 --(PR.com)-- The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts announced today that Peter S. Rice, Senior Counsel, Dewey & LeBoeuf LLP will speak at The Knowledge Congress’ upcoming webcast entitled: “Understanding New Capital Reserve Requirements for the Life Insurance Industry”. This 2-hour event is scheduled on July 21, 2009, Tuesday, at 3:00 PM - 5:00 PM EDT. (For further details of the event and an updated list of panelists, please visit: http://www.knowledgecongress.org/event_2009_life.html)
Event Synopsis
State laws require life insurer companies to hold in reserve enough assets to pay all claims on policies the company has issued. The amount of reserves and capital required is based on set formulas. The National Association of Insurance Commissioners has been working on a new system known as Principles-Based Reserves (PBR). In the meantime, during the financial melt-down of 2008 and 2009 the life insurance industry sought a relaxation of the current reserve requirements to free up capital for investment and to carry out business operations. The NAIC’s Capital and Surplus Working Group rejected the industry’s sweeping proposals but approved other proposals impacting reserving requirements, reinsurance collateral and accounting procedures.
With the industry’s reserve requirements in flux, life insurance companies and their advisers need to stay informed on the current requirements. The Knowledge Congress is assembling a panel of experts to discuss the capital reserve requirements in a Live two-hour Webcast.
About Peter S. Rice
Peter Rice has a broad range of experience handling a wide array of insurance regulatory matters. His experience includes transactional matters, licensing, corporate reorganizations, market conduct and other complex insurance regulatory issues. Representative assignments include the management buyout and subsequent IPO of Safety Insurance Company, the reorganization and voluntary dissolution of ManagedComp Insurance Company, representing FSA in connection with its interests as the principal creditor of Harvard Pilgrim Health Care in HPHC's receivership, and numerous Form A filings related to Massachusetts domiciled insurers. Mr. Rice also frequently handles legislative matters having successfully lobbied for reforms of Massachusetts' credit for reinsurance law and non-group health insurance law. Mr. Rice was First Deputy Commissioner of the Massachusetts Division of Insurance from 1987 to 1990.
Author
"Twenty-Four Hour Coverage: A Consideration of the Issues," American Association of Preferred Providers Organization Journal; (November, 1993).
Co-author
"The Property and Casualty Insurance Regulatory Matrix," The State of Insurance Regulation; ABA Tort and Insurance Practice Section, (© 1991).
Education
Boston University School of Law, 1980, J.D.
St. Lawrence University, 1976, B.A.
Bar Admissions
Massachusetts
Court Admissions
U.S. District Court, District of Massachusetts
About Dewey & LeBoeuf LLP
Dewey & LeBoeuf LLP is an international law firm headquartered in New York with more than 1,400 lawyers in 14 countries, namely the United States, United Kingdom, Belgium, France, Germany, Italy, Poland, China, South Africa, Kazakhstan, Russia, Saudi Arabia, Qatar and the United Arab Emirates.
They are a leader in the practice of law, with a rich heritage built upon 100 years of collective achievement and distinction. Dewey & LeBoeuf has 24 offices across four continents, an extraordinary breadth of practice and extensive industry experience.They have the knowledge, resources and commitment to client service to address the most complex and challenging legal issues.
For more information about Peter S. Rice and Dewey & LeBoeuf LLP, please visit: www.deweyleboeuf.com
About The Knowledge Group, LLC/The Knowledge Congress Live Webcast Series
The Knowledge Congress is a series of live webcasts produced by The Knowledge Group, LLC, which examine trends, regulatory, and technology changes across a variety of industries. “We bring together the world's leading authorities and industry participants through informative two-hour webcast that study the impact of changing regulations and help businesses succeed through proper regulatory compliance.” To contact or to register to an event, please visit: www.knowledgecongress.org
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Event Synopsis
State laws require life insurer companies to hold in reserve enough assets to pay all claims on policies the company has issued. The amount of reserves and capital required is based on set formulas. The National Association of Insurance Commissioners has been working on a new system known as Principles-Based Reserves (PBR). In the meantime, during the financial melt-down of 2008 and 2009 the life insurance industry sought a relaxation of the current reserve requirements to free up capital for investment and to carry out business operations. The NAIC’s Capital and Surplus Working Group rejected the industry’s sweeping proposals but approved other proposals impacting reserving requirements, reinsurance collateral and accounting procedures.
With the industry’s reserve requirements in flux, life insurance companies and their advisers need to stay informed on the current requirements. The Knowledge Congress is assembling a panel of experts to discuss the capital reserve requirements in a Live two-hour Webcast.
About Peter S. Rice
Peter Rice has a broad range of experience handling a wide array of insurance regulatory matters. His experience includes transactional matters, licensing, corporate reorganizations, market conduct and other complex insurance regulatory issues. Representative assignments include the management buyout and subsequent IPO of Safety Insurance Company, the reorganization and voluntary dissolution of ManagedComp Insurance Company, representing FSA in connection with its interests as the principal creditor of Harvard Pilgrim Health Care in HPHC's receivership, and numerous Form A filings related to Massachusetts domiciled insurers. Mr. Rice also frequently handles legislative matters having successfully lobbied for reforms of Massachusetts' credit for reinsurance law and non-group health insurance law. Mr. Rice was First Deputy Commissioner of the Massachusetts Division of Insurance from 1987 to 1990.
Author
"Twenty-Four Hour Coverage: A Consideration of the Issues," American Association of Preferred Providers Organization Journal; (November, 1993).
Co-author
"The Property and Casualty Insurance Regulatory Matrix," The State of Insurance Regulation; ABA Tort and Insurance Practice Section, (© 1991).
Education
Boston University School of Law, 1980, J.D.
St. Lawrence University, 1976, B.A.
Bar Admissions
Massachusetts
Court Admissions
U.S. District Court, District of Massachusetts
About Dewey & LeBoeuf LLP
Dewey & LeBoeuf LLP is an international law firm headquartered in New York with more than 1,400 lawyers in 14 countries, namely the United States, United Kingdom, Belgium, France, Germany, Italy, Poland, China, South Africa, Kazakhstan, Russia, Saudi Arabia, Qatar and the United Arab Emirates.
They are a leader in the practice of law, with a rich heritage built upon 100 years of collective achievement and distinction. Dewey & LeBoeuf has 24 offices across four continents, an extraordinary breadth of practice and extensive industry experience.They have the knowledge, resources and commitment to client service to address the most complex and challenging legal issues.
For more information about Peter S. Rice and Dewey & LeBoeuf LLP, please visit: www.deweyleboeuf.com
About The Knowledge Group, LLC/The Knowledge Congress Live Webcast Series
The Knowledge Congress is a series of live webcasts produced by The Knowledge Group, LLC, which examine trends, regulatory, and technology changes across a variety of industries. “We bring together the world's leading authorities and industry participants through informative two-hour webcast that study the impact of changing regulations and help businesses succeed through proper regulatory compliance.” To contact or to register to an event, please visit: www.knowledgecongress.org
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Contact
The Knowledge Congress
Thomas LaPointe, Jr., Executive Director
1.800.578.4370
www.knowledgecongress.org
Therese Lumbao, Director
Account Management & Member Services
tlumbao@knowledgecongress.org
Thomas LaPointe, Jr., Executive Director
1.800.578.4370
www.knowledgecongress.org
Therese Lumbao, Director
Account Management & Member Services
tlumbao@knowledgecongress.org
Contact
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