As we’ve been predicting, including here, the Cybersecurity Regulation adopted by the NY DFS for insurance, banking and other financial services continues to drive the conversation in the U.S.  The latest manifestation is the FTC proposal, announced March 5, 2019, to amend it Safeguards Rule adopted pursuant to the Gramm-Leach-Bliley Act of 1999 (GLBA) to require financial institutions to adopt certain safeguards to protect the nonpublic personal information of consumers.
Read More FTC Proposes Amendments to Safeguards Rule to Track NY DFS Cybersecurity Regulation (and amendments to its Privacy Rule)

Today, Illinois Governor JB Pritzker named Chicago attorney Robert Muriel to serve as Director ‎of the Illinois Department of Insurance, pending confirmation by the Illinois Senate. Muriel is a ‎commercial lawyer with over 20 years of experience in civil and commercial litigation, including ‎insurance coverage and bad faith claims, financial fraud claims, and consumer class actions. ‎…
Read More Robert Muriel Appointed Director of the Illinois Department of Insurance

You have a strategic plan, an MVP (minimum viable product), a management team, a place to work, ‎and your first investor. But before you take that investment, there are some key legal issues you ‎may want to consider before formally launching your InsurTech company.
Read More Top Ten Legal Issues Every InsurTech Entrepreneur Should Understand

Welcome to the final article in our initial introduction to the insurance industry for Insurtechs. Before we pivot next month to focusing on some of the key corporate and financial issues facing Insurtechs, we get to delve into perhaps the biggest step an InsurTech can take – running their own insurance company.
Read More Running Your Own Insurance Company: Three Options for Renting, Buying or Building the InsurTech Carrier of the Future

Happy Presidents Day! Hopefully you are on vacation and reading this a day late. However, if not, we hope this installment of InsurTech analysis serves as a nice and informative break from the rigors of your work day. This week we move further into our overview of the insurance industry for InsurTechs, we move away from the things the general public is familiar with (Distribution and Claims), and we peer into what’s behind the curtain. And despite what the Wizard of Oz says, you should definitely pay attention to what’s behind the curtain.
Read More Underwriting and Finance/Reinsurance Focused InsurTechs – Understanding Licensure and Top 3 Regulatory Issues

Locke Lord LLP Atlanta Partner Brian Casey and Austin Senior Counsel Jon Gillum have co-authored an article for Law360 explaining how to navigate federal and state laws for service contracts, which are also known as extended warranties…
Read More Locke Lord LLP Attorneys Brian Casey and Jon Gillum Publish Article on Navigating State and Federal Regulations for Extended Warranties