Washington, D.C. Mayor Muriel Bowser recently established the District of Columbia Financial Services Regulatory Sandbox and Innovation Council (the “Council”). The Council has been tasked with analyzing and reporting on the viability of implementing a financial services regulatory sandbox in the District.
Read More Washington, D.C. Establishes Financial Services Regulatory Sandbox and Innovation Council

Welcome back to your weekly dose of InsurTech insight. Hopefully in time you’ll come to think of us as a kind of General Assembly for InsurTechs, but instead of learning technological skills, you’ll learn practical information regarding not only regulatory and transactional insurance matters applicable to the InsurTech space, but also issues related to being an entrepreneur (which we will begin to focus on in the second month of this blog).
Read More Distribution and Claims-Focused InsurTechs: Understanding Licensure and Top 5 Regulatory Issues

Director Chlora Lindley-Myers (MO), 2019 Chair of the Market Regulation and Consumer ‎Affairs (D) Committee of the National Association of Insurance Commissioners (NAIC), ‎announced on February 8, 2019 on a committee conference call the names of the regulators who ‎will act as Chairs and Vice Chairs of the D Committee’s Task Forces and Working Groups for ‎the coming year. ‎…
Read More Chairs and Vice Chairs of Task Forces and Working Groups of the NAIC’s Market Regulation and Consumer Affairs (D) Committee for 2019 Announced

For the past 18 months, insurance companies have been holding their collective ‎breath to see if an appellate court would affirm or reverse an Ohio district court decision ‎concluding that thousands of current and former agents for American Family ‎Insurance Company were employees and not independent contractors under ERISA, ‎the federal law governing pensions and other employee benefits.‎…
Read More Insurance Agents Not Misclassified As Independent ‎Contractors; Sixth Circuit Rules in Favor of Insurance ‎Company in ERISA Class Action Seeking Pension, Life, ‎and Health Benefits

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

Locke Lord’s Insurance & Reinsurance Newsletter provides topical snapshots of recent developments in the fast-changing world of insurance. For further information on any of the subjects covered in the newsletter, please contact one of the members of our Insurance team.
Read More Insurance and Reinsurance Newsletter – January 2019

Locke Lord’s Privacy & Cybersecurity Newsletter provides topical snapshots of recent developments in the fast-changing world of privacy, data protection, and cyber risk management. For further information on any of the subjects covered in the newsletter, please contact one of the members of our privacy and cybersecurity team.
Read More Privacy & Cybersecurity Newsletter – January 2019