Long-time TDI senior staff member Doug Slape has been promoted to a newly-created position at the Texas Department of Insurance.  According to the Department, Slape has been named “second-in-command” behind Insurance Commissioner Kent Sullivan.  Slape has been with TDI for 30 years and most recently served as Deputy Commissioner for…
Read More Texas Department of Insurance Now Has a “Second-in-Command”

Under Texas law, extended warranties or “service contracts” are potentially subject to regulatory oversight by four state agencies. The Texas Real Estate Commission (TREC) oversees the licensing and regulation of home warranties—service contracts that cover a structural component, an appliance, or an electrical, plumbing, heating, cooling, or air-conditioning system of…
Read More Locke Lord LLP Austin Attorneys Jon L. Gillum and Lauren Fincher Publish “Cross-Agency Regulation of Service Contracts in Texas” in Latest Issue of the Texas Tech Administrative Law Journal

The Texas Windstorm insurance Association (TWIA) has announced that its board of directors at its May 8, 2018 meeting approved a $175 million member assessment linked to losses arising from Hurricane Harvey.  The assessed amount was reportedly lower than initial TWIA staff estimates.

Additional Harvey related assessments may be issued…
Read More TWIA Issues Substantial Harvey Assessment

On April 27, 2018 a new bill, H.R. 5666, the “Primary Regulators of Insurance Vote Act of 2018,” was introduced into Congress by Reps. Dennis Ross, R-Fla. and Denny Heck, D-Wash. If enacted, H.R. 5666 would elevate the role of the state insurance commissioner in the Financial Stability Oversight…
Read More Bill to get FSOC State Insurance Commissioner a Vote

Beginning January 1, 2019, the Tax Cuts and Jobs Act of 2017[1] reduces to zero dollars the Affordable Care Act (ACA)[2] tax penalty imposed on many individuals who fail to maintain minimum essential coverage (i.e., the individual mandate). The Tax Cuts and Jobs Act not only guts…
Read More Can Republican-Led States Succeed in Enjoining the Affordable Care Act?

In a letter sent to California insurers on 4/20, California Insurance Commissioner Dave Jones reiterated his call for insurers to file rates and forms for insurance products for the California cannabis industry. In an effort to allay fears about potential pushback or legal consequence based on the fact that cannabis…
Read More California Department Encourages Development of Insurance Products for Legal Cannabis; Industry Begins Moving In

The Illinois state legislature is considering a bill which would put the state among the select few specifically granting legal recognition to blockchain “smart contracts” by placing smart contracts on an equal footing with traditional written contracts.  Key provisions of House Bill 5553 include among others:

  • An express prohibition of

…
Read More Illinois Legislature Considering Legislation Recognizing Legality of Smart Contracts

A bill was recently introduced in the New Jersey Senate that would prohibit the use of education and occupation as rating factors in automobile insurance underwriting. This leads to taking a closer look at the debate over the years and insurance industry’s contention that accurate premium rates require a comprehensive…
Read More Eliminating education and occupation as auto insurance underwriting factors

The National Association of Insurance Commissioners (NAIC) has directed its committees to move forward with amending the Reinsurance Model Law and Regulation (Models) to be consistent with  the EU/U.S. Covered Agreement signed last September.  The Covered Agreement eliminates collateral and physical presence requirements for EU/U.S. reinsurers.  States have 60 months…
Read More NAIC Panels to Begin Work on Model Law to Extend Covered Agreement to Non-EU Jurisdictions

Since the Fall of 2017, the Trump Administration has used its executive and regulatory authority to roll back coverage requirements for Affordable Care Act[1] (ACA) health plans and expand access to association health plans that would be offered outside of ACA’s exchanges to small businesses and self-employed individuals. In response…
Read More Medicare Part E for All – An Idea Whose Time, Perhaps, Has Still Not Come