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. In an effort to allay fears about potential pushback or legal consequence based on the fact that cannabis
Read More California Department Encourages Development of Insurance Products for Legal Cannabis; Industry Begins Moving In
Regulatory
NAIC Panels to Begin Work on Model Law to Extend Covered Agreement to Non-EU Jurisdictions
By Troutman Pepper Locke on
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. The Covered Agreement eliminates collateral and physical presence requirements for EU/U.S. reinsurers. States have 60 months…
Read More NAIC Panels to Begin Work on Model Law to Extend Covered Agreement to Non-EU Jurisdictions
Use It or Lose It?: FTC Warns Companies Against Conditioning Warranty Coverage on Use of Specified Parts or Services
By Jon Gillum, Troutman Pepper Locke & on
On April 10, 2018, the FTC announced that its staff sent warning letters to six major companies that market and sell automobiles, cellular devices, and video gaming systems in the United States. The FTC expressed concerns with the companies’ promotional and warranty materials that require consumers to use specified parts…
Read More Use It or Lose It?: FTC Warns Companies Against Conditioning Warranty Coverage on Use of Specified Parts or Services
CMS Uses Regulatory Levers to Chip Away at Affordable Care Act Protections
By Troutman Pepper Locke on
On Monday, the Centers for Medicare and Medicaid Services (“CMS”) released (1) the Notice of Benefit and Payment Parameters for 2019 final rule (“Final Rule”), (2) the Final Annual Issuer Letter and (3) guidance on hardship exemptions and transitional policies. Some of the more significant developments contained in the documents…
Read More CMS Uses Regulatory Levers to Chip Away at Affordable Care Act Protections
Insurance and Reinsurance Newsletter – April 2018
Locke Lord’s Insurance & Reinsurance Newsletter provides topical snapshots of recent developments in the fast-changing world of insurance. For further information on any of the subjects covered in the newsletter, please contact one of the members of our Insurance team.
In This Issue:
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Read More Insurance and Reinsurance Newsletter – April 2018
Texas General Land Office Releases Hurricane Harvey State Action Plan
By Raj Bandla & Troutman Pepper Locke on
On April 10, the Texas General Land Office (“GLO”) released a draft of the State of Texas Plan for Disaster Recovery: Hurricane Harvey – Round 1 (the “State Action Plan”). The State Action Plan outlines the GLO’s proposed use of $5.024 billion in Community Development Block Grant Disaster Recovery (“CDBG-DR”)…
Read More Texas General Land Office Releases Hurricane Harvey State Action Plan
Join Us – Addressing Cybersecurity Risk in Vendor Management
Third party vendors, outsource providers, and cloud providers are critical to the operations of all organizations. Yet they also introduce a significant cybersecurity risk. Locke Lord’s Privacy & Cybersecurity group will present a complimentary, in-depth review of the key regulatory requirements for vendor cybersecurity, followed by a presentation of a…
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You’re Invited – NAIC Spring Meeting Cocktail Reception – March 25
By Troutman Pepper Locke on
Posted in Regulatory, United States
Locke Lord’s Regulatory & Transactional Insurance Practice Group Invites You to a Cocktail Reception & Hors d’oeuvre Buffet during the NAIC Spring 2018 National Meeting in Milwaukee, WI.
Sunday, March 25, 2018
5:30 pm – 7:30 pm (Central)
Hyatt Regency Milwaukee
Vue Rooftop Ballroom
333 West Kilbourn Avenue
Milwaukee, Wisconsin
Read More You’re Invited – NAIC Spring Meeting Cocktail Reception – March 25
The March 1 Deadline for NY DFS Cyber Compliance: One Week to Go!
As we reported here, March 1, 2018 brings a new transition date, with a new set of compliance obligations for Covered Entities subject to the Cybersecurity Regulation of the New York Department of Financial Services. By March 1, Covered Entities will need to have complied with the Risk Assessment…
Read More The March 1 Deadline for NY DFS Cyber Compliance: One Week to Go!
NAIC Holds Public Hearing on Reinsurance Collateral Provisions of Covered Agreement
By John Emmanuel & Troutman Pepper Locke on
On 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”). The Covered Agreement creates a framework…
Read More NAIC Holds Public Hearing on Reinsurance Collateral Provisions of Covered Agreement