Troutman Pepper Locke

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Increased use and influence of artificial intelligence systems by companies and consumers bring with them new and dynamic oversight, compliance, governance and disclosure challenges. Legal and risk management professionals must develop processes and policies for AI tools that work within the requirements of the law as it is today, while also anticipating the coming wave of legal, regulatory and technological changes. Over the next few months, Locke Lord lawyers will tackle some of the most pressing AI concerns in a series of complimentary webinars discussing practical, real-world challenges facing organizations.
Read More Join Us for the First in Our Series on AI

Locke Lord’s Privacy & Cybersecurity Newsletter provides topical snapshots of recent developments in the fast-changing world of privacy, data protection and cyber risk management.
Read More December 2023 Privacy & Cybersecurity Newsletter: A Busy Year-End (States, EU, UK, Incident Response and Litigation)

At the December National Association of Insurance Commissioners (NAIC) Fall National Meeting, the Surplus Lines Working Group adopted changes to the IID Plan of Operation.  The updated Plan of Operation incorporates, among others, the changes noted in our October posting below.  The 2023 Plan of Operation is now available at the “Documents” tab of the Surplus Lines Working Group home page.”

On October 19, 2022, the National Association of Insurance Commissioners (NAIC) Surplus Lines Working Group exposed proposed changes to the International Insurers Department (IID) Plan of Operation applicable to insurers domiciled outside the U.S. (alien) participating in the U.S. insurance market.
Read More Update: LL Surplus Lines Series (Entry 35): Surplus Lines Working Group Exposes Changes to IID Plan of Operation for Alien Insurers

Locke Lord and the Association of Corporate Counsel – CT Chapter will host a complimentary webinar titled “Developments in State Privacy ‎Requirements for Connecticut ‎Businesses” on December 14, 2022.
Read More Complimentary Webinar: Developments in State Privacy ‎Requirements for Connecticut ‎Businesses

The Texas Department of Insurance (“TDI”) adopted a new group capital calculation filing requirement that is effective on November 7, 2022.  The new rule, found in 28 Texas Administrative Code   §7.215 (“Section 7.215”), is based on the National Association Insurance Commissioners (“NAIC”) model regulation that requires an insurer’s ultimate control person in an insurance holding company system to file a group capital calculation concurrently with the insurer’s annual registration (Form B).
Read More Texas Department of Insurance Adopts New Group Capital Calculation Rule

On October 13, 2022, the Illinois Department of Insurance (the “Department”) issued Company Bulletin 2022-16 (the “Bulletin”).  The Bulletin is addressed to all domestic insurers and advises that the Department will now participate in the National Association of Insurance Commissioners Climate Risk Disclosure Survey (the “Survey”).
Read More Illinois to Participate in the Climate Risk Disclosure Survey

On October, 17, 2022, the National Association of Insurance Commissioners (NAIC) Surplus Lines Task Force held an interim meeting to discuss, among other agenda items, the draft changes to the Nonadmitted Insurance Model Act (#870).  The Drafting Group presented the draft model to the Task Force on May 23 and the Task Force formally exposed the model for a 60-day public comment period that ended on July 21st.
Read More LL Surplus Lines Series (Entry 34): Nonadmitted Model Act Moves Closer to Adoption; A Couple of Issues Remain Unresolved