An amendment to Illinois Senate Bill 809 proposes to add a new section to the Illinois Insurance Code (215 Ill. Comp. Stat. 5/155.46) requiring insurance companies to submit supplier diversity reports. SB 809 is assigned to the Senate Insurance Committee. A Senate Insurance Committee hearing is scheduled for April 26…
Read More Illinois Proposed Senate Bill Amendment on Supplier Diversity Reporting
New York Associate Zach Lerner authored a Law360 article on group property and casualty insurance. Within the article, Lerner identifies some of the important issues for insurers and producers to consider, both in the admitted and surplus lines insurance markets, as to the regulation of LRRA and permissible state insurance…
Read More Group P&C Insurance: Admitted And Surplus Lines Issues
The Texas Legislature is considering legislation that would expressly permit service contracts to include the replacement of a motor vehicle key or key-fob. Specifically, Senate Bill 1263 and House Bill 2275 would redefine “service contract” in Texas Occupations Code section 1304.003 to include “the replacement of a motor vehicle key…
Read More Key-Fob Amendment to Texas Service Contract Law Considered by Legislature
We are happy to provide the 2017 edition of our Excess and Surplus Lines Law Manual. This edition reflects all of the pertinent changes in the surplus lines laws and regulations of the 50 states and U.S. territories during the past year. The website provides you with the ability to…
The Delaware Supreme Court has endorsed the application of a single state’s insurance law to disputes over coverage under policies issued to a global company for costs associated with environmental waste sites in two states. The Court reversed the lower court which had decided to apply instead the law of…
Read More Delaware Supreme Court Endorses Single State Choice of Law for Environmental Insurance Coverage CaseA new federal 9th Circuit appellate decision has ruled for the insured in its suit against its excess insurer that refused to contribute to a settlement. The district court denied the excess insurer’s motion for summary judgment that said the insured failed to secure its consent to the settlement as…
Read More 9th Circuit Requires Excess Insurer to Contribute to Deal Reached by Insured and Primary Insurer
Locke Lord’s Regulatory & Transactional Insurance Practice Group Invites You to a Cocktail Reception & Hors d’oeuvre Buffet during the NAIC Spring 2017 National Meeting in Denver, CO.
Sunday, April 9, 2017
5:30 pm – 7:30 pm (Mountain)
Peaks Lounge
Hyatt Regency Denver (conference hotel)
For more information, click hereRead More You’re Invited – NAIC Spring Meeting Cocktail Reception – April 9
The New York Department of Financial Services (“DFS”) has recently taken a leading stance on strengthening the cybersecurity standards within the insurance sphere, but its reach has been curtailed due to pressures within the industry. Pursuant to 23 NYCRR Part 500 (the “Regulation”), every “Covered Entity” must maintain a cybersecurity…
Read More New York Bolsters Security Standards for Insurers, but exempts certain RRGs, Captives, and Others
In a sprawling 163 page opinion issued just last week, the Connecticut Appellate Court addressed, as a matter of first impression, five different issues that will significantly affect the disposition of asbestos, and potentially other, long tail claims in Connecticut. The case, R.T. Vanderbilt Co., Inc. v. Hartford Accident and…
Read More Long Tales About Long Tails – Connecticut’s Appellate Court Makes New Law
In the early days of President Trump presidency, it has become increasingly likely that the Dodd–Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) will be revisited by the Republican Congress and administration. President Trump was quoted on January 30th as referring to Dodd-Frank as a “disaster” and insisting that…
Read More Dodd-Frank and the Future of Federal Insurance Regulation
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