U.S. Covered Agreement Policy Statement Affirms U.S. State-Based Regulation Of Insurance

We have posted several times on the negotiation and finalization of the Covered Agreement ("the Agreement") negotiated by the Obama Administration and approved by the Trump Administration with the European Union. The agreed text of the Agreement was released in January of this year, and the House Financial Services Committee held a hearing on the Agreement the following month. The Trump Administration's decision to sign the Agreement was announced in July, and included a statement that the U.S. would issue a "U.S. policy statement on implementation." That statement intrigued many, prompting speculation as to the positions that would be taken in that policy statement. We posted an analysis of the complicated timeline for the implementation of the Agreement later that month.