On August 31, 2018, the California Legislature passed a number of bills addressing various issues related to wildfires that have ravaged the state in recent years. The following bills relate to insurance in connection with past and future wildfires.
Read MoreMaryland officials will formally announce Wednesday that the federal government has approved an ACA state innovation waiver intended to help shore up Maryland’s individual health insurance market, which has suffered from skyrocketing premiums and declining participation by healthier persons following the repeal of the ACA’s individual mandate
Read MoreThe Rhode Island state legislature has amended the enabling act to the state’s legacy transfer program, R.I.G.L § 27-14.5-1 et seq. (“R.I. Restructuring Act”), to provide clarification to the marketplace. The enabling act, originally enacted in 2002, was designed to allow for “commutation plans” to provide for reorganization through a court-approved commutation among a reinsurer or insurer and all of its insurance or reinsurance creditors.
Read MoreRhode 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 MoreUnder Texas law, extended warranties or “service contracts” are potentially subject to regulatory oversight by four state agencies.
Read MoreBoth bodies of the Georgia General Assembly have passed a bill that would allow Georgia-domiciled insurers to divide into one or more parts. HB 754 would allow domestic insurers to draft a detailed plan of division and submit that plan to the Commissioner for approval.
Read MoreColorado Governor, John Hickenlooper, has picked Michael Conway as the interim Colorado Insurance Commissioner beginning January 1, 2018. Michael Conway started at the Colorado Division of Insurance in March 2016.
Read MoreNew York Associate Zachary Lerner authored a Law360 article on commission sharing, referral fee and producer licensing issues. Within the article, Mr. Lerner identifies important issues for insurers and producers to consider,...
Read MoreThe Florida Supreme Court Pruco advisory opinion, Wells Fargo Bank, N.A. v. Pruco Life Ins. Co., 200 So. 3d at 1203 & 1206-07, to the United States Eleventh Circuit Court of Appeals held that an insurer may not challenge...
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