New York Senate Bill S769A (the “Bill”) has failed to move in the New York Assembly despite its passage by the Senate and therefore is unlikely to become law in 2019.
Read More LL Surplus Lines Series (Entry 13): New York Diligent Search Reformation Bill Unlikely to Pass this Year

On Monday, the ‘‘Clarifying Law Around Insurance of Marijuana Act’’ or ‘‘CLAIM Act” was introduced before the United States Senate by Sen. Menendez (D-N.J.). The CLAIM Act, which is cosponsored by Sens. Paul (R-Ky.), Merkley (D-Ore.) and Cramer (R-N.D.), would prohibit a federal agency from (i) penalizing or otherwise discouraging insurers from engaging in the business of insurance with a cannabis-related business, or (ii) otherwise terminating or cancelling the policies of an insurer solely because the insurer engaged in the business of insurance in connection with a cannabis-related business.
Read More Senate to Consider Legislation To Allow Cannabis Businesses to Purchase P&C and Title Insurance

When Congress passed the Federal Liability Risk Retention Act of 1986 in response to skyrocketing insurance premiums being charged for, and the lack of available, commercial liability insurance, a new regime was born.
Read More Common Misconceptions About Risk Purchasing Groups

On June 17, the New York State Assembly passed the Stop Hacks and Improve Electronic Data Security Act, commonly referred to as the SHIELD Act which will be enforced by the New York Attorney General. This SHIELD Act should not be confused with Marvel’s Strategic Homeland Intervention Enforcement and Logistics Division also called S.H.I.E.L.D. The SHIELD Act is awaiting the governor’s signature to become law.
Read More New York Jumps on the Data Security Bandwagon

On January 10, 2019, Massachusetts Governor Charlie Baker signed House Bill No. 4806 into law.  The bill amends certain provisions of the state data breach notification law, increasing reporting requirements on a person or agency collecting personal information of Massachusetts residents.
Read More Updates to Massachusetts Data Breach Laws: House Bill No. 4806

On Tuesday, June 18th, Florida Gov. Ron DeSantis signed into law House Bill 301 (the “Bill”), an insurance omnibus package aimed at modernizing the state’s surplus lines industry.
Read More LL Surplus Lines Series (Entry 12): Florida Embraces Surplus Lines Modernization

The Deal has awarded Locke Lord with its 2019 Deal of the Year distinction for the Firm’s role as national insurance regulatory counsel to CVS Health in its completed acquisition of Aetna. The honor was announced at the June 20 ceremony for The Deal Awards, which recognize leading lawyers, bankers, advisers and investors who are setting the trends in the industry.
Read More Locke Lord Receives Deal of the Year Award From The Deal for Role in CVS Health’s Acquisition of Aetna

On June 17th, the Excess Lines Association of New York (“ELANY”) published Bulletin No. 2019-19 (the “Bulletin”) detailing New York’s substantial restrictions on group property and casualty insurance policies. The Bulletin echoes some of the remarks at the most recent Surplus Lines Law Group Meeting where this author provided details on the growing regulatory concerns as to group P&C policies.
Read More Locke Lord QuickStudy: Excess Lines Association of New York Publishes Guidance on New York Group P&C Policies