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Chris Flanagan, Partner at Locke Lord LLP, and Jim Sabella, CPA and Tax Partner at Dixon Hughes Goodman LLP, will present a webinar on Tax Reform: Implications for Insurers and Reinsurers. This webinar is sponsored by CCIA Delta and hosted by 202works, and will provide key insights into the…
Read More Complimentary Invitation to CCIA Delta Tax Webinar – May 22, 2018

The NAIC International Insurance Forum held May 14 – 15 in Washington, D.C. brought together distinguished panelists and speakers providing insight on several insurance topics of interest. A discussion of several of these follows.

On disaster risk management, there was a discussion on the soft reinsurance market and abundant reinsurance…

Read More NAIC International Insurance Forum Wrap-Up

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

This week the NAIC held its annual International Insurance Forum in Washington, D.C. The event featured speakers from around the globe and included industry leaders, regulators, academics, trade group leaders and consumer advocates. Panels covered a wide range of topics, including the role of insurance and reinsurance in disaster risk…
Read More NAIC Holds International Insurance Forum in Washington

As we reported here, and further analyzed here in October 2017, the NAIC adopted an Insurance Data Security Model Law.

On May 3, 2018, the South Carolina Governor made South Carolina the first state in the nation to adopt a comprehensive cybersecurity statute for the insurance industry, by signing…
Read More South Carolina becomes First State to enact Insurance Data Security Law based on NAIC Model

Prior to the 1990’s Bellefonte Reinsurance Co. v. Aetna Cas. & Sur. Co., 903 F.2d910 (2d Cir. 1990) (“Bellefonte”) decision, the insurance/reinsurance industry operated under the assumption that expenses in addition to loss, unless explicitly excluded, were included coverages under facultative reinsurance certificates. The Bellefonte decision,…
Read More Back to the Future

Long-time TDI senior staff member Doug Slape has been promoted to a newly-created position at the Texas Department of Insurance.  According to the Department, Slape has been named “second-in-command” behind Insurance Commissioner Kent Sullivan.  Slape has been with TDI for 30 years and most recently served as Deputy Commissioner for…
Read More Texas Department of Insurance Now Has a “Second-in-Command”

Under Texas law, extended warranties or “service contracts” are potentially subject to regulatory oversight by four state agencies. The Texas Real Estate Commission (TREC) oversees the licensing and regulation of home warranties—service contracts that cover a structural component, an appliance, or an electrical, plumbing, heating, cooling, or air-conditioning system of…
Read More Locke Lord LLP Austin Attorneys Jon L. Gillum and Lauren Fincher Publish “Cross-Agency Regulation of Service Contracts in Texas” in Latest Issue of the Texas Tech Administrative Law Journal

The Texas Windstorm insurance Association (TWIA) has announced that its board of directors at its May 8, 2018 meeting approved a $175 million member assessment linked to losses arising from Hurricane Harvey.  The assessed amount was reportedly lower than initial TWIA staff estimates.

Additional Harvey related assessments may be issued…
Read More TWIA Issues Substantial Harvey Assessment

On April 27, 2018 a new bill, H.R. 5666, the “Primary Regulators of Insurance Vote Act of 2018,” was introduced into Congress by Reps. Dennis Ross, R-Fla. and Denny Heck, D-Wash. If enacted, H.R. 5666 would elevate the role of the state insurance commissioner in the Financial Stability Oversight…
Read More Bill to get FSOC State Insurance Commissioner a Vote