Insurance & Reinsurance | Locke Lord LLP

Responding to BEAT; Vermont Creates the Affiliated Reinsurance Company

by Alexandra Cavaliere | Jun 12, 2018 | Industry Developments | United States

Vermont Act 134 (H.719) (“Act 134”), signed by Governor Phil Scott on May 17, 2018, is set to come into effect on July 1, 2018.

California Insurance Commissioner Approves First Cannabis Business Owners Policy

by Aaron Igdalsky | Jun 8, 2018 | California Developments, Regulatory | United States

On June 4, California Insurance Commissioner Dave Jones announced that he approved the first Cannabis Business Owners Policy (“CannaBOP”) in California.

Rhode Island Seeks to Clarify Original Intent of Reg. 68

by Jonathan Bank | May 23, 2018 | Regulatory, Reinsurance, State Legislative Developments | United States

Rhode Island’s Insurance Business Transfer Act (“IBT”) (“Regulation 68”) permits the transfer and ‘novation’ of commercial ‘legacy business’ (subject to certain limitations) from one carrier to another, subject to court approval.

Excess and Surplus Lines Law Manual 2018 Update

by Zachary Lerner, John Dearie, John Emmanuel | May 18, 2018 | Excess and Surplus Lines | United States

We are happy to provide the 2018 edition of our Excess and Surplus Lines Law Manual. This edition reflects all of the pertinent changes in the surplus lines laws and regulations of the 50 states and U.S. territories during the past year.

Complimentary Invitation to CCIA Delta Tax Webinar – May 22, 2018

by Christopher Flanagan | May 17, 2018 | Regulatory, Reinsurance, Tax Related Developments | United States

Chris Flanagan, Partner at Locke Lord LLP, and Jim Sabella, CPA and Tax Partner at Dixon Hughes Goodman LLP, will present a webinar on Tax Reform: Implications for Insurers and Reinsurers. This webinar is sponsored by CCIA Delta and hosted by 202works, and will provide key insights into the new tax structure that was signed into law for the 2018 tax season.

NAIC International Insurance Forum Wrap-Up

by Robert Kasinow | May 17, 2018 | Industry Developments, Regulatory | United States

The NAIC International Insurance Forum held May 14 – 15 in Washington, D.C. brought together distinguished panelists and speakers providing insight on several insurance topics of interest. A discussion of several of these follows.

NAIC’s Center for Insurance Policy and Research Hosts Webinar About the Insurance Needs of the Cannabis Industry

by Aaron Igdalsky | May 17, 2018 | California Developments, Regulatory | United States

On Wednesday, the NAIC’s Center for Insurance Policy and Research hosted a webinar entitled “Weeding Through the Unique Insurance Needs of the Cannabis Industry.” The webinar kicked off with comments from Dave Jones, Commissioner of the California Department of Insurance.

NAIC Holds International Insurance Forum in Washington

by Aaron Igdalsky | May 15, 2018 | Industry Developments, Regulatory | United States

This week the NAIC held its annual International Insurance Forum in Washington, D.C. The event featured speakers from around the globe and included industry leaders, regulators, academics, trade group leaders and consumer advocates.

South Carolina becomes First State to enact Insurance Data Security Law based on NAIC Model

by Theodore Augustinos | May 15, 2018 | Industry Developments, Privacy/Data Security/Cyber Risk | United States

As we reported here, and further analyzed here in October 2017, the NAIC adopted an Insurance Data Security Model Law.

Connecticut’s Move to Authorize Agency Captive Insurance Companies

by Alexandra Cavaliere | May 15, 2018 | Captives, Connecticut Developments, Industry Developments | United States

On May 9, 2018, SB 377, “An Act Authorizing Agency Captive Insurance Companies,” introduced by Connecticut Senators Larson and Kelly, was passed into law.

Responding to BEAT; Vermont Creates the Affiliated Reinsurance Company

California Insurance Commissioner Approves First Cannabis Business Owners Policy

Rhode Island Seeks to Clarify Original Intent of Reg. 68

Excess and Surplus Lines Law Manual 2018 Update

NAIC International Insurance Forum Wrap-Up

NAIC’s Center for Insurance Policy and Research Hosts Webinar About the Insurance Needs of the Cannabis Industry

NAIC Holds International Insurance Forum in Washington

South Carolina becomes First State to enact Insurance Data Security Law based on NAIC Model

Connecticut’s Move to Authorize Agency Captive Insurance Companies

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