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Insurance and Reinsurance Newsletter – September 2017

By Stephanie Kelly & Troutman Pepper Locke on September 26, 2017

Posted in Coverage & Claims, Hurricane Harvey, Insurance Linked Securities (ILS), New York Developments, Privacy/Data Security/Cyber Risk, Regulatory, Reinsurance, United States

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:

The ILS Market and its Future in

London Direct and Facultative Market Affected by Harvey

By Tom Bohac & Troutman Pepper Locke on September 6, 2017

Posted in Hurricane Harvey, Reinsurance, Texas Developments, United Kingdom, United States

Hurricane Harvey has caused significant exposure for those owning habitational accounts in London’s direct and facultative (“D&F”) market. Habitational coverage insures commercial residential properties, and each habitational account could cover hundreds of properties. Before Hurricane Harvey, many underwriters believed Texas habitational premiums were underpriced, which in turn led to reinsurers…
Read More London Direct and Facultative Market Affected by Harvey

Hurricane Harvey Cripples Parts of Texas; Insurers Prepare for Billions in Claims

By Troutman Pepper Locke on August 29, 2017

Posted in Hurricane Harvey, Reinsurance, Texas Developments, United States

Hurricane Harvey made landfall in Texas Friday as the strongest hurricane to hit the United States in a decade, leaving several people dead and tens of thousands more displaced. Additional rain this week could bring the total rain associated with Harvey to 50” in certain areas. Early indications are that…
Read More Hurricane Harvey Cripples Parts of Texas; Insurers Prepare for Billions in Claims

With Hurricane Harvey Looming, Insurance and Reinsurance Issues Lurk in the Wings

By Troutman Pepper Locke on August 25, 2017

Posted in Hurricane Harvey, Reinsurance, Texas Developments, United States

As Hurricane Harvey barrels towards the Gulf, residents of Louisiana and Texas are scrambling to avoid a storm that forecasters currently predict will bring winds of over 110 miles per hour and dangerous flooding. However, Harvey is creating concern not only for residents of the region, but also for insurers…
Read More With Hurricane Harvey Looming, Insurance and Reinsurance Issues Lurk in the Wings

You don’t need a weather man to know which way the wind blows* (*Bob Dylan)

By skellyricher on June 21, 2017

Posted in California Developments, Climate Change, Excess and Surplus Lines, Regulatory, Reinsurance, United States

Dave Jones, California Insurance Commissioner took an aggressive stand on Climate Change in a Press Release issued June 21, 2017, stating that if any “…climate denying politicians of red states who threaten to sue me, I will happily defend my obligation as California’s Insurance Commissioner to make sure insurers are…
Read More You don’t need a weather man to know which way the wind blows* (*Bob Dylan)

You’re Invited – NAIC Spring Meeting Cocktail Reception – April 9

By Troutman Pepper Locke on March 22, 2017

Posted in Regulatory, Reinsurance

Locke Lord’s Regulatory & Transactional Insurance Practice Group Invites You to a Cocktail Reception & Hors d’oeuvre Buffet during the NAIC Spring 2017 National Meeting in Denver, CO.

Sunday, April 9, 2017
5:30 pm – 7:30 pm (Mountain)

Peaks Lounge
Hyatt Regency Denver (conference hotel)

For more information, click here Read More You’re Invited – NAIC Spring Meeting Cocktail Reception – April 9

Dodd-Frank and the Future of Federal Insurance Regulation

By Zachary Lerner & Troutman Pepper Locke on February 10, 2017

Posted in Excess and Surplus Lines, Federal Legislative Developments, Industry Developments, Regulatory, Reinsurance, United States

In the early days of President Trump presidency, it has become increasingly likely that the Dodd–Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) will be revisited by the Republican Congress and administration. President Trump was quoted on January 30th as referring to Dodd-Frank as a “disaster” and insisting that…
Read More Dodd-Frank and the Future of Federal Insurance Regulation

Please Join Us – Insurance M&A and Capital Raising Roundtable

By Troutman Pepper Locke on February 2, 2017

Posted in Coverage & Claims, Industry Developments, Privacy/Data Security/Cyber Risk, Regulatory, Reinsurance, Tax Related Developments

Please join BDO USA, LLP, Locke Lord LLP, and Sandler O’Neill + Partners, L.P. for a complimentary breakfast briefing. This event will highlight key considerations in a successful M&A transaction or capital raising transaction in today’s economic climate for the insurance industry – what do we anticipate next?

Presenters:

Insurance and Reinsurance Newsletter – January 2017

By Troutman Pepper Locke on February 2, 2017

Posted in Connecticut Developments, Coverage & Claims, New York Developments, Privacy/Data Security/Cyber Risk, Regulatory, Reinsurance, United States

In This Issue:

“New Corporate Governance Annual Disclosure Requirements for

Disclosure Deadlines Extended for Participants in and Material Advisors to Micro-Captive Transactions

By Christopher Flanagan & Troutman Pepper Locke on December 30, 2016

Posted in Captives, Reinsurance, Tax Related Developments, United States

On December 29, 2016, the Internal Revenue Service issued Notice 2017-08, extending the disclosure deadlines for participants in and material advisors to certain micro-captive transactions.

Prior guidance from the Service, issued in Notice 2016-66, had identified certain micro-captive transactions as “transactions of interest” and indicated that the general disclosure requirements…
Read More Disclosure Deadlines Extended for Participants in and Material Advisors to Micro-Captive Transactions

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