Happy Presidents Day! Hopefully you are on vacation and reading this a day late. However, if not, we hope this installment of InsurTech analysis serves as a nice and informative break from the rigors of your work day. This week we move further into our overview of the insurance industry for InsurTechs, we move away from the things the general public is familiar with (Distribution and Claims), and we peer into what’s behind the curtain. And despite what the Wizard of Oz says, you should definitely pay attention to what’s behind the curtain.
Read More Underwriting and Finance/Reinsurance Focused InsurTechs – Understanding Licensure and Top 3 Regulatory Issues
Excess and Surplus Lines
Distribution and Claims-Focused InsurTechs: Understanding Licensure and Top 5 Regulatory Issues
By Benjamin Sykes & Troutman Pepper Locke on
Welcome back to your weekly dose of InsurTech insight. Hopefully in time you’ll come to think of us as a kind of General Assembly for InsurTechs, but instead of learning technological skills, you’ll learn practical information regarding not only regulatory and transactional insurance matters applicable to the InsurTech space, but also issues related to being an entrepreneur (which we will begin to focus on in the second month of this blog).
Read More Distribution and Claims-Focused InsurTechs: Understanding Licensure and Top 5 Regulatory Issues
Texas Revamps Surplus Lines Regulations
The Texas Commissioner of Insurance has announced the repeal and replacement of provisions Chapter 15 Texas Administrative Code related to the regulation of surplus lines insurance. The proposed new rules were originally published in June, 2018 and have been adopted with modification. According to the December 10, 2018 adopting release,…
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2018 Fall Surplus Lines Law Group Meeting
By Zachary Lerner on
Posted in Excess and Surplus Lines, United States
Zachary Lerner is moderating a discussion on insurtech and its impact on the surplus lines industry at the 2018 Fall Surplus Lines Law Group Meeting, hosted by the Excess Line Association of New York (ELANY) on October 12, 2018 in New York. ELANY is a non-profit industry advisory association, charged…
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TDI to Require Online Applications for Insurance Licenses
Texas Department of Insurance (TDI) has recently announced that it will now require online applications for most individual insurance related licenses.
Paper applications will no longer be accepted if an online license application is available.
Not all applications are web-based. Some license types are still required to be submitted using…
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Excess and Surplus Lines Law Manual 2018 Update
By John Emmanuel & Zachary Lerner on
Posted in Excess and Surplus Lines, United States
We are happy to provide the 2018 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…
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NAIC’s Center for Insurance Policy and Research Hosts Webinar About the Insurance Needs of the Cannabis Industry
By Troutman Pepper Locke on
On Wednesday, the NAIC’s Center for Insurance Policy and Research hosted a webinar entitled “Weeding Through the Unique Insurance Needs of the Cannabis Industry.” The webinar kicked off with comments from Dave Jones, Commissioner of the California Department of Insurance. Commissioner Jones reiterated the California Department’s commitment to supporting the…
Read More NAIC’s Center for Insurance Policy and Research Hosts Webinar About the Insurance Needs of the Cannabis Industry
Surplus Lines: Insurtech and Technological Opportunities, Challenges
By Zachary Lerner & Troutman Pepper Locke on
New York Associate Zachary Lerner and Hartford Associate Alexandra Cavaliere co-authored an Insurance Journal article detailing the technological advances in the insurance industry, specifically the rise of insurtech. Lerner and Cavaliere examine the challenges and opportunities insurtech poses for surplus lines.
To read the full article, click here.
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Insurance and Reinsurance Newsletter – December 2017
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:
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Read More Insurance and Reinsurance Newsletter – December 2017
New Insurance Platforms Arguably Require Producer Licenses
New York Associate Zachary Lerner authored a Law360 article on commission sharing, referral fee and producer licensing issues. Within the article, Mr. Lerner identifies important issues for insurers and producers to consider, both in the admitted and surplus lines insurance markets, with respect to the sharing of commissions and whether…
Read More New Insurance Platforms Arguably Require Producer Licenses