A 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

Please join BDO USA, LLP, Locke Lord LLP, and Sandler O’Neill + Partners, L.P. for a complimentary breakfast briefing. This event will highlight key considerations in a successful M&A transaction or capital raising transaction in today’s economic climate for the insurance industry – what do we anticipate next?

Presenters:

Marc…
Read More Please Join Us – Insurance M&A and Capital Raising Roundtable

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.

In This Issue:

  • “New Corporate Governance Annual Disclosure Requirements for

…
Read More Insurance and Reinsurance Newsletter – January 2017

The Connecticut Insurance Department (“CID”) recently released Bulletin No. FS-4C-16 (“Bulletin”), which concerns financial reporting requirements for captive insurers. Pursuant to existing statute, each captive insurer domiciled in (or, for branch captives, licensed in) Connecticut must file an annual financial report with the Insurance Commissioner. The Bulletin announces that required…

Read More Connecticut Insurance Department Releases Bulletin Concerning Financial Reporting Requirements for Captives

The California Supreme Court is poised to answer the following unsettled question of California law certified by the Ninth Circuit Court of Appeals on August 22, 2016 (see order here):   “Whether there is an ‘occurrence’ under an employer’s commercial general liability policy when an injured third party brings…

Read More Liberty v. Ledesma and Meyer Construction, Case No. 14-56120 (9th Cir. 2016)

A new South Carolina Supreme Court decision has upheld a pro rata allocation of progressive damages. In the January 11, 2017 opinion in Harleysville Group Insurance v. Heritage Communities, Inc., et al., the court described that two property owners’ associations sued various Heritage companies, alleging the associations’ homeowners were…
Read More South Carolina Endorses Pro Rata Allocation