On July 7, 2025, Pennsylvania Governor Josh Shapiro enacted a new Digital Forgery Law by signing SB 649 into law, which will take effect in 60 days. SB 649 creates “new criminal penalties for anyone who uses artificial intelligence (AI) to produce non-consensual “forged digital likenesses” — like deepfakes or
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NYDFS Warns of Heightened Risk From Global Conflicts: What Regulated Entities Must Do Now
On June 23, the New York State Department of Financial Services (NYDFS) issued an industry letter to all regulated entities — banks, insurers, money transmitters, virtual currency companies, and others — cautioning that escalating global conflicts are intensifying threats to the U.S. financial system. The letter highlights increased risk from destructive cyberattacks, sanctions evasion, and illicit activity involving virtual assets. NYDFS urges institutions to take immediate, proactive steps to strengthen operational resilience, ensure compliance, and protect the financial sector from geopolitical spillover.
Florida Bill Eliminating the Surplus Lines Diligent Effort Requirement and a Discussion on Surplus Lines Regulation Trends
By Zachary Lerner on
On June 13, Florida Gov. Ron DeSantis signed House Bill 1549 into law. Among other things, the bill has removed the “diligent effort” requirement applicable to surplus lines agents.
NAIC Responds to Proposed 10-Year Moratorium on State Regulation of AI in One Big Beautiful Bill Act
By Paige Waters & Stephanie O’Neill Macro on
Posted in Artificial Intelligence, Insurance
There is a proposed 10-year moratorium on the enforcement of state laws that regulate artificial intelligence (AI) contained in Section 43201(c) of H.R.1 – One Big Beautiful Bill Act. The National Association of Insurance Commissioners (NAIC) recently submitted its response to members of the U.S. Senate (attached at the link), raising various concerns that the moratorium will have unintended consequences, including:
To Re-Register Your DBA or Not: That Is the Question in Delaware as New Law’s Effective Date Gets Pushed
By Moya McKenna on
Posted in Regulatory
Delaware has recently enacted legislation concerning the registration of trade names or “doing business as” names (DBA). This new process mandates that DBAs be registered online through the OneStop application. The Delaware Department of Revenue (DOR) will oversee the statewide DBA registry.
2025 Excess and Surplus Lines Law Manual
By Troutman Pepper Locke on
Posted in Excess and Surplus Lines
We are happy to provide the 2025 update to the Troutman Pepper Locke LLP 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. You can click below to download a pdf of the entire manual.
Wisconsin Becomes the 24th State to Adopt the NAIC Model Bulletin on the Use of AIS in Insurance
By Paige Waters on
Posted in Artificial Intelligence
On March 18, Wisconsin Insurance Commissioner Nathan Houdek issued Wisconsin’s new bulletin on the use of artificial intelligence systems (AIS) in insurance, becoming the 24th state to adopt the NAIC Model Bulletin on the Use of Artificial Intelligence Systems by Insurers. A copy of the bulletin is found at this link.
NAIC Establishes the Risk-Based Capital Model Governance (EX) Task Force in 2025
By Paige Waters on
The 2025 National Association of Insurance Commissioners (NAIC) President and North Dakota Insurance Commissioner Jon Godfread has stated that:
“As state insurance regulators and NAIC Members, our efforts are anchored by two core principles: maintaining fair, sound, and stable insurance markets, and protecting and educating consumers.”
New Jersey Adopts Bulletin on AI Use in Insurance
By Paige Waters on
On February 11, New Jersey Banking and Insurance Commissioner Zimmerman issued Bulletin 25-03 regarding the use of artificial intelligence systems (AIS) in insurance, applicable to all insurers authorized or admitted in New Jersey. New Jersey becomes the 23rd state to adopt the bulletin based on the NAIC Model Act on the Use of AIS by Insurers.
D&O and Professional Liability 2024 – A Year in Review
By Tony Jones, Jennifer Mathis, Brandon Almond & Dan Cohen on
The past year once again saw a breadth of court decisions addressing a wide variety of directors and officers and professional liability insurance coverage issues. At various levels, state and federal courts across the country issued notable decisions in this arena. In this report, we focused on topics we believe will continue to be important in the directors and officers and professional liability insurance field. We hope you find the following selection of cases to be informative and helpful.