The New York State Department of Financial Services (DFS) released final regulatory guidance to domestic insurers regarding their management of climate change risk, incorporating public comments DFS received on its initial...more
New York domestic insurance companies will be expected to take into account the impact of climate change in all facets of their business, as per the latest regulatory guidance proposed by the New York State Department of...more
As shelter-in-place orders begin to ease and businesses reopen, companies should be prepared for a potential wave of lawsuits from customers and employees who may claim to have contracted COVID-19 on their premises. In...more
Accelerated underwriting is one of the fastest growing sectors of the life insurance industry and has allowed both traditional life insurance companies and insurtechs to forego medical exams to reduce the life insurance...more
From the use of neural networks that identify fraudulent claims, to the adoption of chatbots that help respond to policyholder questions, artificial intelligence has the potential to transform the insurance industry by...more
Data privacy has become an increasing area of focus for many of our insurtech clients as they work to ensure they are in compliance with the EU General Data Protection Regulation and the California Consumer Privacy Act, which...more
Over the last decade the use of R&W insurance in merger and acquisition transactions has grown exponentially. From 2008 to 2018, the total R&W policies bound per year in North America rose from 40 deals, providing $541...more
As funding in the insurtech vertical continues to surge and the current crop of insurtech companies grows and matures, a common dilemma facing the successful companies is whether to move from being just an insurance producer...more
Data is often the key ingredient to an insurtech’s success. From the use of drone data to automatically pay insurance claims after a hurricane, to AI that can predict the likelihood of insurance fraud – big data has the...more
As part of our insurtech practice, we are frequently asked to advise on state insurance anti-rebating laws. These laws prohibit insurance companies or brokers from providing policyholders with anything of value (above certain...more
Despite the recent wave of articles forecasting that the rise of autonomous vehicles will lead to a decline in auto insurance premiums, we believe it is more accurate to say that the advent of self-driving cars will cause the...more
A key part of the counsel we provide to our insurtech clients is assisting them in navigating the insurance regulatory landscape, with 50 separate state-based legal systems regulating the insurance industry....more