State Legislative Developments Archives

Join Us for Our Next InsurTech Legal Academy Webinar: A Deep Dive Into Producer, Adjuster and Reinsurance Intermediary Licensing Regimes

by Zachary Lerner and Moya McKenna | Sep 6, 2024 | Excess and Surplus Lines, InsurTech, Regulatory, Reinsurance, State Legislative Developments

Join Locke Lord, InsurTechNY and InsurTech Hartford for their next InsurTech Legal Academy webinar series on common licensing issues that InsurTechs face when starting up or expanding their insurance-related activities. Expectations differ between the various states, as well as the NAIC, regarding what activities do and do not require insurance producer and surplus lines broker licensure (both on an individual and entity level). Moreover, even if an InsurTech is not making a final decision on whether to accept or deny a claim, it may “cross the line” into licensable activity as well. Zach and Moya will also touch on nuances in the reinsurance intermediary space as well, which differ substantially from insurance producer licensing standards in a number of states.

Colorado Proposes Guidance Bulletins for Life Algorithms & Predictive ‎Models Regulation

by Daniel Barry | Nov 27, 2023 | Life Insurance & Annuities, Privacy/Data Security/Cyber Risk, Regulatory, State Legislative Developments | United States

On November 20, 2023, the Division of Insurance of the Colorado Department of Regulatory Agencies (“DORA”), published for a 9 day public comment period two proposed bulletins which would provide clarifying guidance on the implementation of Colorado Insurance Regulation 10-1-1: Governance of Risk Management Framework Requirements for Life Insurer’s Use of External Consumer Data and Information Sources, Algorithms, and Predictive Models, which was adopted in September 2023 pursuant to SB21-169.

Arkansas Implements New Insurance Business Transfer Law

by John Emmanuel | Jul 14, 2021 | Industry Developments, State Legislative Developments | United States

On July 28, 2021, Arkansas will implement its recently enacted Insurance Business Transfer Act (“IBTA”). The purpose of the law is to provide insurance carriers a process for the transfer of blocks of business from any jurisdiction in the country to another insurance company located in Arkansas.

Illinois Passes Uniform Electronic Transactions Act

by Brian Casey | Jun 30, 2021 | Blockchain, Illinois Developments, InsurTech, State Legislative Developments | United States

Illinois has passed Senate Bill 2176 which is effective as of June 25,2021, repeals the state’s former non-UETA “Electronic Commerce Security Act”, and includes the Uniform Electronic Transactions Act (UETA), making Illinois the 49th state to have adopted UETA and leaving New York as the only non-UETA state.

InsurTech Weekly Roundup – April 12, 2019

Apr 12, 2019 | Connecticut Developments, InsurTech, State Legislative Developments | European Union, United States

While you were off changing the industry, you may have missed ‎‎these important developments

LL Surplus Lines Series (Entry 5): 2019 WSIA Spring Surplus Lines Law Group Meeting Recap and Summary of Trends

by Zachary Lerner | Apr 8, 2019 | California Developments, Excess and Surplus Lines, Florida Developments, New York Developments, State Legislative Developments | Bermuda, European Union, United Kingdom, United States

The Surplus Lines Law Group held its spring meeting on Friday, April 5 in Biloxi, Mississippi. A number of presentations were given at the meeting, including updates on the trends around the nation with respect to the diligence search requirement, international tax and cybersecurity issues, as well as a presentation by this author as to the challenges surrounding placing group insurance coverage on a surplus lines basis (including unique hurdles applicable to risk purchasing groups).

LL Surplus Lines Series (Entry 4): Nebraska Becomes Latest State to Adopt Domestic Surplus Lines Legislation

by John Emmanuel | Mar 25, 2019 | Excess and Surplus Lines, State Legislative Developments | United States

On March 12, 2019, Nebraska joined the small but growing number of states to adopt “domestic” ‎surplus lines legislation. Illinois was the first state to adopt domestic surplus lines legislation in ‎‎1998 but the trend only gained traction over the last few years.‎

Privacy & Cybersecurity Newsletter – January 2019

Jan 17, 2019 | California Developments, Illinois Developments, New York Developments, Privacy/Data Security/Cyber Risk, Regulatory, State Legislative Developments | United States

Locke Lord’s Privacy & Cybersecurity Newsletter provides topical snapshots of recent developments in the fast-changing world of privacy, data protection, and cyber risk management. For further information on any of the subjects covered in the newsletter, please contact one of the members of our privacy and cybersecurity team.

Michigan Governor-elect Appoints Director of the Department of Insurance and Financial Services

Dec 28, 2018 | State Legislative Developments | United States

Michigan Governor-elect Gretchen Whitmer has appointed Anita Fox as Director of the Department of Insurance and Financial Services. Anita Fox will replace Patrick M. McPharlin who has served as the Director since May 2015.

New York Department of Financial Services Superintendent to Step Down

Dec 19, 2018 | State Legislative Developments | United States

Maria T. Vullo announced today that she will be stepping down as Superintendent of the New York Department of Financial Services effective February 1, 2019.

Topic: State Legislative Developments

Join Us for Our Next InsurTech Legal Academy Webinar: A Deep Dive Into Producer, Adjuster and Reinsurance Intermediary Licensing Regimes

Colorado Proposes Guidance Bulletins for Life Algorithms & Predictive ‎Models Regulation

Arkansas Implements New Insurance Business Transfer Law

Illinois Passes Uniform Electronic Transactions Act

InsurTech Weekly Roundup – April 12, 2019

LL Surplus Lines Series (Entry 5): 2019 WSIA Spring Surplus Lines Law Group Meeting Recap and Summary of Trends

LL Surplus Lines Series (Entry 4): Nebraska Becomes Latest State to Adopt Domestic Surplus Lines Legislation

Privacy & Cybersecurity Newsletter – January 2019

Michigan Governor-elect Appoints Director of the Department of Insurance and Financial Services

New York Department of Financial Services Superintendent to Step Down

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