The Situation: The global market for artificial intelligence ("AI") technologies is projected to surpass $1 trillion by 2030....more
More than 20 storms—11 of which will become hurricanes, and 5 of which will become Category 3 or greater hurricanes. That's one prediction for the Atlantic hurricane season. Not to worry, you say. Your operations are located...more
5 Walworth clarifies an issue that had become muddled since the Wisconsin Supreme Court’s 2016 decision in Wisconsin Pharmacal Co. v. Nebraska Cultures of California. Namely, 5 Walworth overturns Pharmacal’s introduction of...more
The Corporate Transparency Act of 2020 took effect on January 1, 2024, adding new filing requirements for many companies that may find themselves involved in mergers and acquisitions. Given the breadth of standard...more
On June 3, 2023, Nevada Gov. Joe Lombardo signed into law AB 398 (the Act) which modifies the Nevada insurance code by restricting the types of liability policies that can be offered in the state. The End of Eroding Limits...more
On March 9, the International Association of Insurance Supervisors (IAIS) announced the criteria, available here, that will be used to assess whether the Aggregation Method, or AM, provides comparable outcomes to the...more
Internationally active insurance groups (IAIGs) will want to consider the implications of recent guidance from international insurance regulators on capital standards. These standards mandate the relevant amounts of capital...more
The pandemic and political turmoil are causing widespread and long-term economic volatility after many years of positive trends. But covered commercial property losses continue, whether caused by fire, wind, or other causes...more
Purchasing directors and officers insurance (D&O insurance) is a standard practice for public companies in the United States. D&O insurance is often critical to recruiting and retaining quality directors and officers for...more
In the continuing saga of what can and cannot be appraised in a property insurance appraisal, the Tenth Circuit, in contrast to many other courts, has ruled appraisers can determine coverage issues....more
In the few short weeks since our last report on climate change and the US insurance industry, the volume of climate change news has been extraordinarily high. The range of developments has been broad to say the very...more
Warranty and indemnity insurance (W&I) in recent years has become a customary aspect of private equity and other M&A transactions, with investors well aware of the deal-enabling benefits (in particular, the transfer of risk...more
COVID-19: FCA update on BI insurance test case - The UK Financial Conduct Authority (FCA) has updated its webpage on its business interruption (BI) insurance test case....more
At the beginning of the year, we published a short report on the surge in year-end insurance regulatory activity concerning climate change risks (available here). January was another busy month, and we report below on...more
In a recent opinion, the UK Supreme Court has found coverage for business interruption as a result of business closures incident to the Covid-19 pandemic. While some may see that decision as support for coverage suits in the...more
CBIRC issued newly revised Health Insurance Measures - On 31 October 2019, the China Banking and Insurance Regulatory Commission (CBIRC) promulgated the newlyrevised Administrative Measures for Health Insurance (Health...more
COVID-19: business interruption insurance test case judgment due on 15 September 2020 - On 9 September 2020, the UK Financial Conduct Authority (FCA) updated its webpage on the High Court business interruption insurance...more
COVID-19: FCA update on business interruption insurance test case - On 13 and 15 July 2020, the UK Financial Conduct Authority (FCA) updated its webpage on the High Court test case concerning business interruption...more
Insurance stress test 2019 and COVID-19 stress testing: FCA feedback - The UK Prudential Regulation Authority (PRA) has published a Dear CEO letter giving feedback to general and life insurers that participated in the 2019...more
Recent regulatory developments of interest to insurers and their intermediaries. Includes FCA update on COVID-19 business interruption insurance test case and EIOPA discussion paper on insurance value chain and new business...more
1. Introduction - As from the second week of March 2020, we have witnessed the publication of several laws that seek to address the significant challenges posed by the (health, economic and social) crisis caused by the...more
Following in the footsteps of several state legislatures, the Council of the District of Columbia plans to consider on May 5 draft legislation that would require insurers to provide coverage for business interruption losses...more
The Hogan Lovells’ Corporate Insurance Newsletter for January 2020 has been published. This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants. In this...more
Financial Services Update - FDCPA: no liability for a debt collector that provides the name of the hospital, the account number, patient name, date of service, and amount of debt, but who fails to include the word "creditor"...more
On 5 March the Italian Supreme Court issued a new important judgment on unit-linked policies and their nature....more