Privacy & Cybersecurity Newsletter
Read 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 MoreTopic: Industry Developments
Locke Lord QuickStudy: Excess Lines Association of New York Publishes Guidance on New York Group P&C Policies
On 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 MoreChairs and Vice Chairs of Task Forces and Working Groups of the NAIC’s Market Regulation and Consumer Affairs (D) Committee for 2019 Announced
Director 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 MoreInsurance and Reinsurance Newsletter – January 2019
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 MoreThe Federal Reserve (FRB) has released new information on proposed capital rules for insurers that own a depository institution
The Federal Reserve (FRB) has released new information on proposed capital rules for insurers that own a depository institution.
Read MoreNew Insurance Commissioner Appointed in Hawaii
Colin 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 MoreUS Treasury Announces New Covered Agreement on Insurance and Reinsurance Regulation with UK
The 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”).
Read MoreEnstar pulled the trigger faster than Annie Oakley
Both Rhode Island and Oklahoma have enacted insurance business transfer acts, which allow insurers to transfer and novate books or portfolios of business to insurers domiciled in the respective States. Rhode Island’s Voluntary Restructuring of Solvent Insurers Act became effective on June 30, 2007, and is codified by the Rhode Island Department of Business (“DBR”) Regulation 68.
Read MoreNew California Legislation Governing Health Plans’ Relationships with Pharmacies and Pharmacy Benefit Managers
Last month, California Governor Jerry Brown signed AB 315 into law. AB 315 is California’s version of the growing national trend to regulate pharmacy benefit managers (“PBMs”). PBMs are entities that not only manage prescription drug benefits under health insurance plans, including drug utilization review, drug plan formulary development, selecting pharmacies for prescription drug networks, and determining reimbursements for those pharmacies, but also operate mail order and specialty pharmacies themselves.
Read MoreDocument Retention Aspects of New York Cybersecurity Regulations
The New York Department of Financial Services Cybersecurity Regulations, 23 NYCRR part 500 (the “Cybersecurity Regulations”), require companies subject to the regulations to update their record retention schedule for particular documents mandated by the Cybersecurity Regulations.
Read MoreInsurTech
