The Texas Department of Insurance (“TDI”) has issued a warning about certain unauthorized insurance and the liability that can attach to third-party administrators (“TPAs”) and insurance agents that are involved in unauthorized insurance transactions, even when those parties hold valid TDI licenses.
Read MoreBen Sykes will serve as a panelist at the Insurtech on the Silicon Prairie conference on Oct. 22. His topic is insurtech/innovation and regulatory modernization. The annual conference is a one-day event bringing national experts, companies, and regulators together to discuss the rapidly changing insurance landscape.
Read MoreRead 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 MoreLocke Lord LLP and Novarica will look at new regulatory developments in analytics, use of data, and data security that have the potential to affect insurer technology strategy. This webinar covers the potential effects of regulation on the use of analytics and AI in life insurance underwriting, how privacy requirements may affect insurer data governance and MDM strategies, and how third-party data security requirements may affect distribution technology strategies.
Read MoreOn August 2, 2019, New Hampshire became the most recent of many states that adopted an Insurance Data Security Law (Senate Bill 194-FN) modeled after the National Association of Insurance Commissioners’ (NAIC) Insurance Data Security Model Law. New Hampshire Governor Chris Sununu signed Senate Bill 194-FN (SB194) into law requiring insurance companies licensed in NH (“Licensees”) to implement information security programs, and to report cybersecurity events.
Read MoreTo date, six states from Michigan to Alabama have adopted versions of the National Association of Insurance Commissioner’s model insurance data security law (the “NAIC model”). The NAIC model generally requires entities licensed or authorized to operate under a state’s insurance laws to develop a cybersecurity program, investigate and report data breaches, and certify compliance with the law to the state’s insurance commissioner. Connecticut joined the growing list of states that have adopted a version of the NAIC model, buried in a budget bill, when Governor Ned Lamont signed Public Act 19-117 (the “Act”), on June 26, 2019, effective in relevant part on October 1, 2020.
Read MoreLocke Lord’s Regulatory & Transactional Insurance Practice Group Invites You to a Cocktail & Hors d’oeuvre Reception During the NAIC National Summer Meeting
Read MoreThe Deal has awarded Locke Lord with its 2019 Deal of the Year distinction for the Firm’s role as national insurance regulatory counsel to CVS Health in its completed acquisition of Aetna. The honor was announced at the June 20 ceremony for The Deal Awards, which recognize leading lawyers, bankers, advisers and investors who are setting the trends in the industry.
Read MoreWashington H.B. 1001 was enacted on April 8, 2019, and will take effect on July 28, 2019.1 H.B. 1001 makes changes to Wash Rev. Code Chapter 48.110 governing service contracts and protection product guarantees which permit new items to be covered under service contracts and establishes new minimum net worth and financial responsibility requirements for service contract providers.
Read MoreChicago Of Counsel Mike Rohan has been elected to the Board of Directors of the Insurance Regulatory Examiners Society (IRES) Foundation. The Foundation’s mission is to promote professionalism and education in the insurance regulatory community and to educate the private sector about state insurance regulation.
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