On January 10, 2019, Massachusetts Governor Baker signed “An Act relative to consumer protection from security breaches” (House Bill No. 4806), which added new requirements and obligations for companies that experience a data breach.
Read More Massachusetts Amendments Impose Additional Data Security Breach Requirements

Zachary Lerner, a Partner in Locke Lord’s New York office and member of the Regulatory and Transactional Insurance Practice Group, wrote a Law360 article “An FAQ on the State of Direct Procurement Insurance,” which outlines common questions people unfamiliar with direct procurement insurance might have and best practices in carrying out direct procurement transactions.
Read More An FAQ on the State of Direct Procurement Insurance

The Federal Reserve (FRB) has released new information on proposed capital rules for insurers that own a depository institution.
Read More The Federal Reserve (FRB) has released new information on proposed capital rules for insurers that own a depository institution

Colin M. Hayashida has been appointed the Hawaii Insurance Commissioner effective January 1, 2019.  He was appointed by Department of Commerce and Consumer Affairs (DCCA) Director Catherine P. Awakuni Colón. …
Read More New Insurance Commissioner Appointed in Hawaii

[et_pb_section admin_label=”section”]
[et_pb_row admin_label=”row”]
[et_pb_column type=”4_4″]
[et_pb_text admin_label=”Text”]
Michigan Governor-elect Gretchen Whitmer has appointed Anita Fox as Director of the Department of Insurance and Financial Services.  Anita Fox will replace Patrick M. McPharlin who has served as the Director since May 2015.

View the full press release.
[/et_pb_text]
[/et_pb_column]
Read More Michigan Governor-elect Appoints Director of the Department of Insurance and Financial Services

Maria T. Vullo announced today that she will be stepping down as Superintendent of the New York Department of Financial Services effective February 1, 2019.  Superintendent Vullo has served in the position since June 15, 2016.  A replacement has not been announced.

View the full press release.
Read More New York Department of Financial Services Superintendent to Step Down

The Texas Department of Insurance (“TDI”) has amended its administrative rules governing Texas captive insurance companies.  Specifically, TDI has revised various provisions in Volume 28, Chapter 6 of the Texas Administrative Code, primarily to comport with prior legislative changes in 2017 that impact the formation and oversight of captive insurance…
Read More New Captive Insurance Rules Adopted in Texas

The Texas Department of Insurance (“TDI”) has released its 2018 Biennial Report to the 86th Texas Legislature.  Every two years and pursuant to Texas Insurance Code section 32.022, TDI releases a report on insurance areas that the Department has identified for priority attention in the upcoming Texas legislative session.  The…
Read More Texas Department of Insurance Announces New Legislative Priorities

The Texas Commissioner of Insurance has announced the repeal and replacement of provisions Chapter 15 Texas Administrative Code related to the regulation of surplus lines insurance.  The proposed new rules were originally published in June, 2018 and have been adopted with modification.  According to the December 10, 2018 adopting release,…
Read More Texas Revamps Surplus Lines Regulations

Raymond G. Farmer will continue as the Director of the South Carolina Insurance Department as announced recently by South Carolina Governor Henry McMaster. Mr. Farmer has served as the Director of Insurance in South Carolina since 2012 when he was appointed by then Governor Nikki Haley. He was previously the…
Read More Raymond G. Farmer to Continue as Director of the South Carolina Insurance Department