Jurisdiction: United States

LL Surplus Lines Series (Entry 5): 2019 WSIA Spring Surplus Lines Law Group Meeting Recap and Summary of Trends

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).

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Although They Did Not Enter a Reinsurance Lottery, They Won The Jackpot

A California Court of Appeal recently affirmed a trial court’s denial of an insurer’s motion to ‎compel arbitration, finding that the trial court had the authority to decide the issue of the ‎enforceability of an arbitration agreement, and that the arbitration agreement at issue, which had ‎not been filed with the California Insurance Commission, was void.‎

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Take It or Leave It – Working Through A Term Sheet

Last night Locke Lord and the Hartford Insurtech Hub teamed up to bring the Hartford community and the Hub’s startups a crash course on term sheet negotiation. Led by Locke Lord’s Kathleen Swan (Chicago) and Julie Mahaney (Hartford), and moderated by Alan Levin (Hartford/New York), the group presented on, and walked through a mock negotiation of, term sheets for Convertible Promissory Notes and Series A Preferred Shares.

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What Every InsurTech Should Know About Accountants

You have now raised capital initially using a Convertible Promissory Note and soon, your Series A Preferred Stock; you now have a Board of Directors with three members – and there may be five including one or more Independent Directors; you are further expanding your management team – and have established an Option Plan under which you can issue both ISOs and NQSO.

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