The Surplus Lines Law Group held its spring meeting on Friday, April 5 in Biloxi, Mississippi. A number of presentations were given at the meeting, including updates on the trends around the nation with respect to the diligence search requirement, international tax and cybersecurity issues, as well as a presentation by this author as to the challenges surrounding placing group insurance coverage on a surplus lines basis (including unique hurdles applicable to risk purchasing groups).
Read More LL Surplus Lines Series (Entry 5): 2019 WSIA Spring Surplus Lines Law Group Meeting Recap and Summary of Trends
8 Things to Consider When Buying or Selling an Insurance Agency
New York Partner Zachary Lerner authored an Insurance Journal article on unique challenges to consider when buying or selling an insurance agency.
Read More 8 Things to Consider When Buying or Selling an Insurance Agency
LL Surplus Lines Series (Entry 2): New York to Consider Elimination of Diligent Search Requirement for Certain Commercial Policies
One of the hallmarks of surplus lines regulation throughout the United States is the “diligent search” requirement whereby the surplus lines broker (or retail producer) must attempt to place insurance coverage in the admitted market before exporting such coverage to an eligible, unauthorized surplus lines insurer.
Read More LL Surplus Lines Series (Entry 2): New York to Consider Elimination of Diligent Search Requirement for Certain Commercial Policies
Excess and Surplus Lines Law Manual 2019 Update
We are happy to provide the 2019 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.
Read More Excess and Surplus Lines Law Manual 2019 Update
LL Surplus Lines Series (Entry 1): Blog Series Launch
Locke Lord is pleased to announce the launch of its newest blog series, the LL Surplus Lines Series!
Read More LL Surplus Lines Series (Entry 1): Blog Series Launch
New Guidance on Insurers’ Use of Big Data and Algorithms in New York
Having concluded an investigation into New York life insurers’ underwriting guidelines and practices, the New York Department of Financial Services has issued Insurance Circular Letter No. 1 (2019) to advise insurers of their statutory obligations regarding the use of external consumer data and information sources in underwriting for life insurance.
Read More New Guidance on Insurers’ Use of Big Data and Algorithms in New York
An FAQ on the State of Direct Procurement Insurance
Zachary Lerner, a Partner in Locke Lord’s New York office and member of the Regulatory and Transactional Insurance Practice Group, wrote a Law360 article “An FAQ on the State of Direct Procurement Insurance,” which outlines common questions people unfamiliar with direct procurement insurance might have and best practices in carrying out direct procurement transactions.
Read More An FAQ on the State of Direct Procurement Insurance
2018 Fall Surplus Lines Law Group Meeting
Zachary Lerner is moderating a discussion on insurtech and its impact on the surplus lines industry at the 2018 Fall Surplus Lines Law Group Meeting, hosted by the Excess Line Association of New York (ELANY) on October 12, 2018 in New York. ELANY is a non-profit industry advisory association, charged
Read More 2018 Fall Surplus Lines Law Group Meeting
Excess and Surplus Lines Law Manual 2018 Update
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. The website provides you with the ability to
Read More Excess and Surplus Lines Law Manual 2018 Update
Surplus Lines: Insurtech and Technological Opportunities, Challenges
New York Associate Zachary Lerner and Hartford Associate Alexandra Cavaliere co-authored an Insurance Journal article detailing the technological advances in the insurance industry, specifically the rise of insurtech. Lerner and Cavaliere examine the challenges and opportunities insurtech poses for surplus lines.
To read the full article, click here.
Read More Surplus Lines: Insurtech and Technological Opportunities, Challenges