Reporting Developments Affecting the Insurance and Reinsurance Industries
On April 14, 2021, the Maine’s Bureau of Insurance issued Bulletin 457 to explain the general conditions and requirements for surplus lines placements, and to reaffirm to producers their obligations and responsibilities under Maine law.
Read MoreWe are happy to provide the 2021 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. The website provides you with the ability to click on the states and territories of interest to view the updates.
Read MoreThe New York Department of Financial Services (NYDFS) has now released a pair of alerts on the increase in cyberattacks on public facing insurance websites that provide instant quoting services to customers. If you provide instant online quoting through your website, it is imperative that you review your system’s security and the methods you use to provide instant quotes.
Read MoreJoin us for a discussion of hot topics addressed at the Spring 2021 Virtual NAIC Meeting and other 2021 trends, including big data and AI, climate and resiliency, long-term care, delegated entities and annuity best interest model.
Read MoreEric Dunning has been appointed as the Nebraska Director of Insurance as of April 19, 2021. Mr. Dunning was previously an attorney with the Nebraska Department of Insurance for 15 years and most recently was the Director of Government Affairs for Blue Cross Blue Shield of Nebraska.
Read MoreBoth the New Jersey Assembly and Senate recently passed identical legislation that would require insurers offering commercial coverage for loss or damage to property, including business interruption, to provide insureds with a general summary of common insurance clauses in policies for loss of use and occupancy of a commercial property, along with a disclosure relating to pandemic and virus losses.
Read MoreOrganizations continue to face new issues, regulations and threats relating to privacy and cybersecurity. Over the next few months, Locke Lord lawyers will tackle some of your most pressing concerns in a series of complimentary webinars discussing practical, real-world challenges facing organizations, including compliance, business operations, data incidents, and investigations, litigation and enforcement. Sign up below for each program that interests you or sign up for the entire series.
Read MoreInsurtech innovations have recently prompted the NAIC to make rebate-friendly amendments to its model act, but the California Department of Insurance is bucking the trend. The NAIC’s amendments expand insurers’ and insurance producers’ ability to offer rebates to insurance customers, but the California Department of Insurance has doubled down on its historical dislike of the practice, even though rebating is largely permitted under California’s insurance laws.
Read MoreOn March 24, Locke Lord lawyers Brian Casey, Benjamin Sykes and Daron Janis, along with Mitch Wein, Senior Vice President of Research and Consulting at Novarica, will look at new regulatory developments in analytics, data usage, and data security that have the potential to affect insurer technology strategy.
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