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).
Read MoreLocke Lord at OnRamp Insurance Conference April 11
Locke Lord is a proud sponsor and Kathleen Swan and Ben Sykes will attend the OnRamp Insurance Conference on April 11 at the Target Center in Minneapolis-St. Paul. OnRamp is one of the leading conferences for insurance innovation. If you are planning to attend, please stop by Kiosk #21 or contact one of our attendees to set up a meeting. For more information, click here.
Read MoreAlthough 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.
Read More8 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 MoreInsurTech Weekly Roundup – March 29, 2019
While you were off changing the industry, you may have missed these important developments
Read MoreTake 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.
Read MoreWhat 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.
Read MoreLL Surplus Lines Series (Entry 4): Nebraska Becomes Latest State to Adopt Domestic Surplus Lines Legislation
On March 12, 2019, Nebraska joined the small but growing number of states to adopt “domestic” surplus lines legislation. Illinois was the first state to adopt domestic surplus lines legislation in 1998 but the trend only gained traction over the last few years.
Read MoreInsurTech Weekly Roundup – March 22, 2019
While you were off changing the industry, you may have missed these important developments
Read MoreInsurTech
