Regulatory

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The Illinois Department of Insurance (“DOI”) will hold a public hearing on December 19 in Chicago regarding proposed amendments to the Illinois Administrative Code that address insurance policy rescissions. The DOI proposed the amendments in light of numerous complaints regarding rescissions based on an alleged misrepresentations or material changes in…
Read More Public Hearing Scheduled Regarding Proposed Illinois Rescission Rule

Locke Lord Attorneys’ Brian Casey and Patrick Hatfield, will be part of the panel of experts on December 13 that will discuss the regulatory requirements of e-posting and e-delivery and the best practices to keep in mind to ensure maximum adoption.

Tuesday, December 13, 2016
2:00 PM EST – 3:00…

Read More You’re Invited to a Complimentary Webcast: “Regulatory Requirements for Insurance E delivery and E-posting”

A New York Federal Court recently rejected a cedant’s request to vacate an arbitration award on the grounds that it was in manifest disregard of the law or because the umpire failed to disclose his prior representation of the reinsurer. The court determined that the cedant failed to clear the…

Read More No Thanksgiving Vacation for This Arbitration Award

Locke Lord’s Regulatory & Transactional Insurance Practice Group Invites You to a Cocktail Reception & Hors d’oeuvre Buffet during the NAIC Fall 2016 National Meeting in Miami, FL.

Sunday, December 11, 2016
5:30 pm – 7:30 pm

La Côte
Fontainebleau Hotel (conference hotel)
4441 Collins Avenue
Miami Beach, FL

For…

Read More You’re Invited – NAIC Fall Meeting Cocktail Reception – December 11

The Vermont Department of Financial Regulation recently issued a proposed rule on Regulation C-81-2. The proposed rule, which will be the subject of a public hearing on December 5, clarifies annual reporting requirements of Vermont-domiciled captive insurance companies by adding details to the annual audit and certification of loss reserves.
Read More Vermont Issues Proposed Captive Rule

Red Chalk Group presents this first of its kind event dedicated to the $1+ trillion insurance marketplace and designed for senior executives to engage leading industry and Blockchain experts as they address top-of-mind issues.

Tuesday, November 8, 2016
8:00 AM – 4:30 PM

UBS Tower
Conference Center on 2nd Floor…
Read More Please Join Us – Blockchain Insurance Summit

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:

  • “When Does the Acquisition of a

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Read More Locke Lord’s Insurance & Reinsurance Newsletter – September 2016

Earlier this week, European Union (“E.U.”) and U.S. representatives met in Brussels to continue to discuss a potential agreement concerning insurance and reinsurance matters. This is the third such meeting since the U.S. Department of the Treasury and the Office of the U.S. Trade Representative announced last November their intent…
Read More U.S., E.U. Representatives Continue to Work on Covered Agreement for Insurance and Reinsurance Measures

As we recently reported in Law360, the surplus lines industry is increasingly serving as a mechanism to provide evolving and complex coverage to new ideas and products throughout the world. This week, Insurance Business America (“IBA”) explored other innovations and legislative changes that may provide opportunities for surplus lines…

Read More Surplus Lines Expansion: Industry Comments on New Opportunities

This week, the National Association of Insurance Commissioners (“NAIC”) provided an update on its TRIA data call initiative (the “Data Call”). As we previously reported here, the NAIC has been in discussions, separate and apart from the Federal Insurance Office, to initiate its own Data Call to better understand…
Read More TRIA Update: NAIC Data Call Imminent