Stroock Special Bulletin
"Significant Insurance Provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act"
On June 30, 2010, the House of Representatives approved, by a vote of 237 to 192, the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Bill"). The Senate, however, will not consider the Bill until after the July 4th recess. This Stroock Special Bulletin briefly summarizes provisions of the Bill that would have a direct and significant effect on the insurance industry (especially surplus lines and reinsurance), discusses some of the ways in which these provisions could affect the current state of insurance regulation in the United States, and examines certain insurance industry reactions to these developments.