Dodd-Frank Act – NRRA Effective Today, July 21, 2011 – Impact on U.S. Ceding Insurers

21 July 2011
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Key takeaways 

  • Important preemption provisions affecting reinsurance ceded by U.S. ceding insurers contained in the Nonadmitted Insurance and Reinsurance Reform Act of 2010 (NRRA) become effective today, July 21, 2011. 
  • California and New York have taken actions, described in this memo, that acknowledge the impact of NRRA § 531 on their state insurance laws and regulations.