The Texas Department Insurance (“TDI”) Commissioner Cassie Brown issued an order decreasing the surplus lines stamping fee from .075% to .04% of gross premium resulting from surplus lines insurance contracts. The decrease will apply to new or renewal surplus lines policies with an effective date on or after January 1, 2024.
Read More Texas Reduces Surplus Lines Stamping Fee

Locke Lord is proud to host the 2023 Insurance Forum, presented by The Insurance Forum Foundation at the Chicago office on November 2, 2023. Paige Waters, will moderate a panel that will discuss Artificial Intelligence in the Insurance Industry.
Read More You’re invited: 2023 Insurance Forum

Join Locke Lord, InsurTech NY and InsurTech Hartford for the next installment of the InsurTech Legal Academy webinar series on legal and regulatory issues ‎impacting the InsurTech industry. Each quarter, we’ll tackle a new important topic.
Read More InsurTech Legal Academy: Data Privacy and Security for InsurTechs

On June 23, 2023, the Connecticut Insurance Department (the “Department”) issued a press release announcing Governor Ted Lamont signed Public Act No. 23-15, An Act Concerning Captive Insurance Companies, (the “Act”) into law.  Effective October 1, 2023, the Act makes various changes to Connecticut’s captive insurance laws.  In particular, the Act now permits captive insurance companies to “accept or transfer risk by means of a parametric contract,” which will allow businesses to more easily cover unique risks, according to the Department. …
Read More Connecticut Amends Its Captive Insurance Laws

The 88th Regular Session (2023) of the Texas Legislature voted to enact Senate Bill 833 (“SB 833”), ‎‎which aims to prohibit ‎insurers operating in Texas from using environmental, social, or governance ‎‎‎(“ESG”) models, ‎scores, factors, or standards to charge different rates to businesses or risks in the ‎‎same class ‎facing essentially the same hazards.‎ Because of the divergent approach states have ‎taken regarding ESG issues, SB 833 may present unique challenges for insurance companies ‎operating across ‎multiple jurisdictions. To navigate this complex landscape, insurance companies ‎need to develop ‎flexible strategies ‎that can accommodate the contrasting regulatory expectations in ‎the states coined ‎‎“anti-ESG” versus the “pro-ESG” states. This scenario not only involves ‎managing ‎legal and compliance ‎risks but also managing reputational risks.
Read More Texas Legislature to ESG: Don’t Mess With Texas‎

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.
Read More Summer 2023 Privacy & Cybersecurity Newsletter: Spotlight on CCPA

We are happy to provide the 2023 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 click on the states and territories of interest to view the updates, and a PDF of the entire manual.
Read More Excess and Surplus Lines Law Manual 2023 Update

Join Locke Lord and InsurTechNY for their InsurTech Academy webinar series on legal and regulatory issues ‎impacting the InsurTech industry. Each quarter, we’ll tackle a new important topic, starting with a primer on ‎surplus lines insurance for InsurTechs.‎…
Read More You’re Invited: InsurTech Legal Academy Webinar Presented by Locke Lord and InsurTechNY

The Connecticut General Assembly has proposed a bill that would permit owners of self-storage businesses to sell property insurance to their tenants.  Under Senate Bill 1037 (the “Bill”), an owner is required to obtain a self-service storage insurance license in order to sell such insurance and the insurance policy must be issued by an insurer that is authorized to write such lines of business in Connecticut.  The Bill would not require tenants of self-storage businesses to buy insurance.
Read More Connecticut Considers Self-Service Storage Insurance Licensing Requirements

Locke Lord will host the Connecticut Bar Association CLE program presented by the Privacy and Cybersecurity Committee on Wednesday, March from 5:00 pm – 7:00 pm. Alex Cox, will serve on a panel that will discuss the New CT Data Privacy Act (ECS230301).
Read More CT Bar Association Presentation