During the last several years, many states have adopted automatic renewal contract, or ARC, laws for the protection of consumers, driven in large part by new subscription-based contracts sold in digital distribution and...more
The facts of the case are relatively simple. In 1999 the insured, Kelly Couch, purchased a $500,000 life insurance policy from Jackson National Life Insurance Company. He lied in the application about his health condition –...more
Appeal from the United States District Court for the Northern District of Georgia, D.C. Docket No. 1:17-cv-03857-WMR.
On February 4, 2022, the United States Court of Appeals for the Eleventh Circuit certified two...more
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...more
Companies are searching alternative ways to have a wide range of documents (internal and external) signed safely under the new safe-distance rules and while dispersed. Join Locke Lord for a complimentary 60-minute webinar...more
4/22/2020
/ Continuing Legal Education ,
Documentation ,
E-Signatures ,
Electronic Evidence ,
Electronic Filing ,
Electronic Notarization Standard ,
Electronic Records ,
Notarization ,
Promissory Notes ,
Remote Working ,
Webinars
Plaintiff, Sun Life Assurance Company of Canada, (“Plaintiff”) filed a declaratory judgement action against Wells Fargo Bank, N.A., as securities intermediary and nominal, record owner for its secondary and tertiary life...more
A Georgia federal district court recently rendered a declaratory judgment in action filed on October 3, 2017, by Jackson National Life Insurance Company (“Jackson”) against Sterling Crum (“Crum”), the transferee and secondary...more
Companies are scrambling to complete transactions with customers and suppliers faster and cheaper, and in the current COVID-19 environment, now at a safe distance. E-contracting and e-signatures have been in the marketplace...more
In this article we summarize the reporting requirements under IRS Form 1099-LS relating to IRC Section 6050Y “Reportable Policy Sales”. The reporting requirements apply to all Reportable Policy Sales after December 31, 2018....more
Locke Lord corporate and regulatory insurance Partners Brian Casey and Ben Sykes will host an open organizational conference call for insurtechs and those interested in how insurtechs will be regulated going forward. The goal...more
12/19/2019
/ Cross-Border Transactions ,
Insurance Agents ,
Insurance Brokers ,
Insurance Claims ,
Insurance Industry ,
Insurance Reform ,
Regulatory Agenda ,
Regulatory Requirements ,
Technology Sector ,
Underwriting ,
Webinars
All eyes have been focused on the federal mid-term elections and the impact on the U.S. House and Senate. Post-mortems by the pundits have begun. See Locke Lord’s take on the mid-terms. The divided government in Washington,...more
The Texas Legislature passed legislation expressly permitting service contracts regulated by the Texas Department of Licensing and Regulation to include the replacement of a motor vehicle key or key-fob. This new law became...more
The U.S. Eleventh Circuit Court of Appeals certified 2 questions under Florida law to the Florida Supreme Court relating to 3 STOLI life insurance policies. The Florida Supreme Court rephrased (and conflated) the 2 questions...more
Last month, the Consumer Financial Protection Bureau’s (“CFPB”) Director denied J.G. Wentworth’s (“JGW”) petition to set aside or modify a CFPB civil investigative demand (“CID”) that required JGW to produce 14 documents,...more
What is consumer ‘‘credit’’? As with most legal issues, the answer is that it depends. This article provides an overview of how stand-alone financing of service contracts, oftentimes broadly labeled as extended warranties,...more