White House Exploring Model Program for Shared Federal and State Regulation of Drone Operations
One of the major issues facing the commercial drone industry is the lack of certainty in the regulatory environment.
Read MoreTopic: Industry Developments
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,...
Read MoreTrump Administration Issues Executive Order Regarding Health Coverage and Discontinues Cost-Sharing Reductions Payments
On October 12, 2017, President Donald Trump signed an Executive Order “to reform the United States healthcare system to take the first steps to expand choices and alternatives to Obamacare plans and increase competition to bring down costs for consumers.”
Read MoreLocke Lord QuickStudy: UPDATE: US and EU Negotiate Covered Agreement on Insurance and Reinsurance Regulation
As discussed in our prior QuickStudy issued on January 18, 2017, the US Federal Government and the European Union have come to an agreement on wide-ranging changes to reinsurance and establishment standards for the operation of insurance enterprises operating from one to another of these markets.
Read MorePlease Join Us for a Complimentary CLE Seminar, “What’s Happening in Springfield? Illinois Insurance Department, Industry & Legislative Updates – Regulatory and Political Hot Topics for Insurers”
Please join Locke Lord for a complimentary CLE seminar on Wednesday, October 11th from 2:00-5:00 p.m.
Read MoreNew York Issues Regulation Aimed at Curtailing Life Insurance Premium Hikes
Last week, the New York Department of Financial Services (“NYDFS”) promulgated a new regulation 11 NYCRR 48, aimed at limiting the amount by which life insurance premiums can be raised as to policies issued in the state.
Read MoreNew York Proposes Regulation to Amend Form A Process
Last month, the New York Department of Financial Services (“NYDFS”) proposed an amendment to 11 NYCRR 80-1.6 (the “Regulation”), which would augment the application process to acquire a domestic insurer by potentially limiting the amount of information that must be provided in connection therewith.
Read MoreHarvey Shining Limelight on Business Interruption Insurance Industry
As victims of Hurricane Harvey try to assess their (often catastrophic) damages, many business owners are finding that their traditional coverages do not adequately cover the scope of their losses.
Read MoreOhio Federal Court Finds Insurance Agents are Employees and Not Independent Contractors
In an action filed by insurance agents working under independent contractor agreements with an insurer, the U.S. District Court for the Northern District of Ohio found the agents were employees who could pursue pension and other...
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