On July 28, 2021, Arkansas will implement its recently enacted Insurance Business Transfer Act (“IBTA”). The purpose of the law is to provide insurance carriers a process for the transfer of blocks of business from any jurisdiction in the country to another insurance company located in Arkansas.
Read MoreJoin us for a discussion of hot topics addressed at the Spring 2021 Virtual NAIC Meeting and other 2021 trends, including big data and AI, climate and resiliency, long-term care, delegated entities and annuity best interest model.
Read MoreBoth the New Jersey Assembly and Senate recently passed identical legislation that would require insurers offering commercial coverage for loss or damage to property, including business interruption, to provide insureds with a general summary of common insurance clauses in policies for loss of use and occupancy of a commercial property, along with a disclosure relating to pandemic and virus losses.
Read MoreRead about the latest in CCPA, GDPR, NY DFS, NAIC and State Updates in Privacy Law, and more in the current Locke Lord Privacy & Cybersecurity Newsletter.
Read MoreOn June 17th, the Excess Lines Association of New York (“ELANY”) published Bulletin No. 2019-19 (the “Bulletin”) detailing New York’s substantial restrictions on group property and casualty insurance policies. The Bulletin echoes some of the remarks at the most recent Surplus Lines Law Group Meeting where this author provided details on the growing regulatory concerns as to group P&C policies.
Read MoreDirector Chlora Lindley-Myers (MO), 2019 Chair of the Market Regulation and Consumer Affairs (D) Committee of the National Association of Insurance Commissioners (NAIC), announced on February 8, 2019 on a committee conference call the names of the regulators who will act as Chairs and Vice Chairs of the D Committee’s Task Forces and Working Groups for the coming year.
Read MoreLocke 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 MoreThe Federal Reserve (FRB) has released new information on proposed capital rules for insurers that own a depository institution.
Read MoreColin M. Hayashida has been appointed the Hawaii Insurance Commissioner effective January 1, 2019. He was appointed by Department of Commerce and Consumer Affairs (DCCA) Director Catherine P. Awakuni Colón.
Read MoreThe U.S. Department of the Treasury and the Office of the U.S. Trade Representative announced on December 11, 2018 that they intend to sign a new Bilateral Agreement between the U.S. and the U.K. on Prudential Measures Regarding Insurance and Reinsurance (“Covered Agreement”).
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