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.
Read MoreOn February 20, 2018, the National Association of Insurance Commissioners (NAIC) held a public hearing on the reinsurance collateral provisions of the Bilateral Agreement between the United States of America and the European Union on Prudential Measures regarding Insurance and Reinsurance (the “Covered Agreement”).
Read MoreAs previously warned here, February 15, 2018 is the first annual deadline for individuals and companies licensed or otherwise authorized under the New York Insurance, Banking and Financial Services laws (defined as Covered Entities) to certify compliance with the Cybersecurity Regulation of the New York Department of Financial Services, unless an exemption applies.
Read MoreOn February 7, the NAIC released “State Ahead,” the organization’s strategic plan for the next three years.
Read MorePlease join BDO USA, LLP, Locke Lord LLP, and Sandler O’Neill + Partners, L.P. for a complimentary breakfast briefing. This event will highlight key considerations in a successful M&A transaction or capital raising transaction in today’s economic climate for the insurance industry.
Read MoreAt its recent December 11th meeting in Corpus Christi, Texas, the Governing Committee of the Texas FAIR Plan Association (TFPA) is reported to have approved an assessment for its insurance company members of over $64 million in relation to a currently estimated $90 million gross loss for the TFPA from Hurricane Harvey and a 2016 year-end and ongoing 2017 operating deficit.
Read MoreOn Monday, November 13, the National Association of Insurance Commissioners, in conjunction with the Center for Insurance Policy and Research and The Griffith Insurance Education Foundation, presented a webinar entitled “Wearables and their Insurance Implications.” The webinar covered a broad range of developments in the wearable space, as well as implications – both positive and negative – that may result from the proliferation of wearable devices.
Read MoreOn October 27, the NAIC Model Law (E) Working Group released an exposure draft of its proposed revisions to the Life and Health Guaranty Association Model Act (#520), intended to address the financial challenges of Long Term Care (“LTC”) insurance insolvencies, such as this year’s Penn Treaty liquidation, and to bring health maintenance organizations (“HMOs”) within the Guaranty Associations’ protection and assessment base.
Read MoreOn October 25, 2017, the White House issued its previously-rumored Presidential Memorandum (“Memorandum”) calling for the establishment of a UAS Integration Pilot Program (“Program”) to test the further integration of Unmanned Aircraft Systems (“UAS” or “drones”) into the national airspace system (“NAS”) in a select number of State, local and tribal jurisdictions.
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