The wildfires raging in Northern California are already the worst in the state’s history. The risk of cataclysmic fires is greater in Southern California, but the elements (fierce winds, high temperatures, and low humidity) conspired to create this conflagration.
Containment figures are finally increasing for these massive wildfires that continue…
Read More FIRING On All Cylinders
Dave Jones, California Insurance Commissioner took an aggressive stand on Climate Change in a Press Release issued June 21, 2017, stating that if any “…climate denying politicians of red states who threaten to sue me, I will happily defend my obligation as California’s Insurance Commissioner to make sure insurers are…
Read More You don’t need a weather man to know which way the wind blows* (*Bob Dylan)
On May 16, 2017, California Insurance Commissioner Dave Jones announced the appointment of Ken Schnoll as General Counsel for the California Department of Insurance. As stated by Commissioner Jones, Mr. Schnoll brings more than 30 years’ experience to his new role, including work in regulatory and transactional matters with health…
Read More New General Counsel Appointed by the California Commissioner of Insurance
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)
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.
…
Read More Locke Lord’s Insurance & Reinsurance Newsletter – September 2016
This year the CEA will buy more reinsurance than in prior years, but the CEA may be casting an eye towards revenue bonds as part of its overall claims-paying resources, believing that a bond program could be more effective than reinsurance.
The CEA was formed as the result of the…
On January 25 the California Insurance Commissioner issued a press release, and also sent email messages to insurers licensed in California, indicating that he is requesting all insurers doing business in California to refrain from making any new investments, refrain from renewing any existing investments, and to sell or withdraw…
Read More California Insurance Commissioner Asks Insurers to Exit Thermal Coal Investments
On October 6, 2015 California’s Governor Jerry Brown signed into law Senate Bill 575, requiring annual notifications of certain nonforfeiture benefits under long-term care insurance contracts. Under current law, an insurer is required to offer, at the time of application for a long-term care insurance contract, an option to purchase…
Read More California Governor Signs Long-term Care Insurance Bill
On Monday, August 17, 2015, California Assembly Bill 553 was signed by Governor Jerry Brown, and became immediately effective. AB 553 adopts much of the NAIC’s Model Corporate Governance Annual Disclosure Model Act, along with a number of measures to bring California’s Insurance Holding Company Systems Act into conformity with…
Read More California Adopts NAIC Corporate Governance Annual Disclosure Requirements
The California Department of Insurance issued a bulletin on February 18, 2015 advising insurers that they may not use “price optimization” as a rating factor in California. The Department defines price optimization as “any method of taking into account an individual’s or class’s willingness to pay a higher premium relative…
Read More California Department Bans Price Optimization
In addition to cookies that are necessary for website operation, this website uses cookies and other tracking tools for various purposes, including to provide enhanced functionality and measure website performance. To learn more about our information practices, please visit our Global Privacy Notice.
