On July 16, 2024, the Connecticut Department of Insurance (the “Department”) issued a press release announcing that Governor Ned Lamont has signed Public Act No. 24-138, “An Act Concerning Insurance Market Conduct and...more
It has been heavily covered in national news media that property & casualty insurers have been withdrawing from certain business lines, in particular homeowners, in states such as California, Florida, Louisiana, and Texas....more
On May 24, 2024, the Massachusetts Division of Insurance (the “Division”) issued Insurance Bulletin 2024-06, “inducements, rebates and affiliated entities” (the “Bulletin”). The Bulletin is addressed to “all licensed...more
On April 16, 2024, the Kentucky Department of Insurance issued Bulletin 2024-02 to all insurers licensed to do business in Kentucky regarding the Use of Artificial Intelligence Systems in the Business of Insurance effective...more
Effective April 15, 2024, Illinois will have a new Acting Insurance Director, Illinois State Senator Ann Gillespie....more
On Tuesday, April 2, 2024, the Colorado Division of Insurance (“Division”) held its second Unfair Discrimination in Insurance Practices – Health Insurance Stakeholder meeting where the Division discussed efforts to develop...more
In the wake of the Covid-19 pandemic lockdown orders, policyholders were driving less and insurance company severities and loss ratios were reduced. This resulted in a temporary increase in insurance company profits....more
On April 18, 2022, the California Department of Insurance (“CDI”) released its Climate Risk & Resilience Analysis Survey performed by S&P Global Market Intelligence. The survey’s analysis assessed insurer investment...more
On April 12, the Colorado Division of Insurance (CO DOI) held its second stakeholder meeting as part of its process to develop rules for life insurance underwriting practices in compliance with Colorado Senate Bill 21-169 (as...more
On April 12, 2022, the Colorado Division of Insurance (Colorado DOI) is rounding the diamond with its second stakeholder meeting as part of Colorado Senate Bill 21-169's (as codified in Colorado Statutes section 10-3-1104.9)...more
The Texas Department of Insurance (“TDI”) adopted new administrative rules for reciprocal reinsurers that took effect on January 1, 2022. According to TDI, the goal of the new reinsurance regulations is to “ensure TDI retains...more
In November 2021, the Texas Department of Insurance adopted new administrative reinsurance regulations relating to reciprocal reinsurers. The rules took effect on January 1, 2022....more
On March 11, 2021, California Insurance Commissioner Ricardo Lara expanded his prior orders regarding premium relief for any line of insurance in California where the measures of risk have become substantially overstated as a...more
In conjunction with the Locke Lord COVID-19 task force, we are reviewing, analyzing, and compiling regulatory updates to provide clients easy access to information during this unprecedented time. If you have any questions on...more
A special data call for the top 10 auto insurance groups in Texas may be on the horizon. On June 26, 2020, the Texas Office of Public Insurance Counsel (OPIC) issued a letter to the Texas Department of Insurance (TDI)...more
On June 19, 2020, the Texas Department of Insurance adopted final rules specifying patient notice and election requirements in order for out-of-network providers to balance bill. The final rules replace similar emergency...more
In conjunction with the Locke Lord COVID-19 task force, we are reviewing, analyzing, and compiling regulatory updates to provide clients easy access to information during this unprecedented time....more
On April 14, 2020, California Insurance Commissioner Ricardo Lara issued a notice to insurers titled "Requirement to Accept, Forward, Acknowledge, and Fairly Investigate All Business Interruption Insurance Claims Caused by...more
As the shelter-in-place orders continue to impact businesses across California, California’s lawmakers are responding to the growing unrest voiced by the state’s business owners. Developments at the State Level - ...more