California Insurance Commissioner Approves First Cannabis Business Owners Policy
On June 4, California Insurance Commissioner Dave Jones announced that he approved the first Cannabis Business Owners Policy (“CannaBOP”) in California.
Read MoreTopic: Regulatory
Rhode Island Seeks to Clarify Original Intent of Reg. 68
Rhode Island’s Insurance Business Transfer Act (“IBT”) (“Regulation 68”) permits the transfer and ‘novation’ of commercial ‘legacy business’ (subject to certain limitations) from one carrier to another, subject to court approval.
Read MoreComplimentary Invitation to CCIA Delta Tax Webinar – May 22, 2018
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 new tax structure that was signed into law for the 2018 tax season.
Read MoreNAIC International Insurance Forum Wrap-Up
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.
Read MoreNAIC’s Center for Insurance Policy and Research Hosts Webinar About the Insurance Needs of the Cannabis Industry
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.
Read MoreNAIC Holds International Insurance Forum in Washington
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.
Read MoreTexas Department of Insurance Now Has a “Second-in-Command”
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.
Read MoreLocke 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
Under Texas law, extended warranties or “service contracts” are potentially subject to regulatory oversight by four state agencies.
Read MoreCalifornia Department Encourages Development of Insurance Products for Legal Cannabis; Industry Begins Moving In
In a letter sent to California insurers on 4/20, California Insurance Commissioner Dave Jones reiterated his call for insurers to file rates and forms for insurance products for the California cannabis industry.
Read MoreNAIC Panels to Begin Work on Model Law to Extend Covered Agreement to Non-EU Jurisdictions
The National Association of Insurance Commissioners (NAIC) has directed its committees to move forward with amending the Reinsurance Model Law and Regulation (Models) to be consistent with the EU/U.S. Covered Agreement signed last September.
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