InsurTech Spring 2021 Conference
Locke Lord is a proud sponsor of the InsurTech Spring 2021 Conference on March 10-11, 2021. Benjamin Sykes is on a panel that will discuss “The Regulatory Perspective on Insurtech.”
Read MoreReporting Developments Affecting the Insurance and Reinsurance Industries
Mar 5, 2021 | InsurTech, Regulatory | United States
Locke Lord is a proud sponsor of the InsurTech Spring 2021 Conference on March 10-11, 2021. Benjamin Sykes is on a panel that will discuss “The Regulatory Perspective on Insurtech.”
Read Moreby John Emmanuel | Mar 3, 2021 | Excess and Surplus Lines, Illinois Developments | United States
On February 26, 2021, a bill was introduced in the Illinois General Assembly that among other changes would eliminate the diligent effort requirement for commercial business sourced by a surplus lines producer through a retail insurance producer and would also reduce the requirement for master policies and program business.
Read MoreFeb 22, 2021 | InsurTech, Regulatory, Reinsurance | United States
Partners Brian Casey and Benjamin Sykes will discuss “The Non-InsurTechs – How Technology Focused InsurTechs Are Changing the Face of the Industry Without Selling a Single Policy” at the AIRROC 2021 Virtual Spring Membership Meeting on March 9, 2021.
Read Moreby John Emmanuel | Feb 11, 2021 | Excess and Surplus Lines | United States
On February 8, 2021, the Excess Line Association of New York (“ELANY”) issued Bulletin No. 2021-05 reminding surplus line insurers and brokers about some often overlooked compliance requirements. Among the topics was the issuance of group policies and use of binding authority agreements.
Read Moreby Brian Casey and Jon Gillum | Feb 8, 2021 | California Developments | United States
Atlanta Partner Brian Casey, Co-Chair of Locke Lord’s Regulatory and Transactional Insurance Practice, and Austin Senior Counsel Jon Gillum co-authored an article for Insurance Journal discussing California’s recently adopted amendments to its financial code, resulting in what is now known as the California Consumer Financial Protection Law (CFPL).
Read Moreby Zachary Lerner | Feb 8, 2021 | Excess and Surplus Lines | United States
Increasingly, the world of insurance distribution has become highly specialized, utilizing technology and a multitude of parties to reach customers worldwide. The surplus lines industry is no exception. Surplus lines brokers are not merely intermediaries between insureds and eligible surplus lines insurers that may be interested in servicing a specialty insurance market.
Read Moreby Alan Levin and Elliott Schreffler | Feb 8, 2021 | United States
Legislatures in New York, Oregon, Pennsylvania, Rhode Island and Washington have all proposed legislation seeking to curb COVID-19’s impact on businesses in their state. Each state’s proposed legislation essentially prohibits insurers from denying business interruption claims arising from COVID-19 related losses.
Read Moreby Brian Casey, Benjamin Sykes and Zachary Lerner | Jan 28, 2021 | Captives, COVID-19, InsurTech, Privacy/Data Security/Cyber Risk | United States
Atlanta Partner and Co-Chair of Locke Lord’s Regulatory and Transactional Insurance Practice Brian Casey, Chicago Partner Ben Sykes and New York Partner Zachary Lerner co-authored a two-part article for Insurance Journal discussing the top insurance regulatory developments of 2020, examining a year that brought many changes to the industry.
Read Moreby Elliott Schreffler | Jan 27, 2021 | COVID-19, New York Developments | United States
On January 13, 2021, the New York Assembly introduced Assembly Bill A1937, which nullifies policy provisions denying claims for loss or damage to property based on virus, bacterium or other microorganisms. The bill covers businesses with fewer than 250 employees working at least 25 hours a week and provides that insurers, including excess lines insurers, which indemnify insureds who file claims based on losses due to virus, bacterium or other microorganisms, may apply to the Department of Financial Services for financial relief and reimbursement. The bill further authorizes the Department of Financial Services to collect from insurers, including excess lines insurers, amounts necessary to cover such requests for financial relief and reimbursement.
Read MoreJan 11, 2021
A Locke Lord team led by Jeff Etherington and Amanda Kane (both of New York) represented Maguire Insurance Agency, Inc., in Philadelphia Insurance Companies’ acquisition of the Staffing Insurance Business offered by World Wide Specialty Programs, Inc.
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