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Illinois Department of Insurance Requires Independent Third Party Background Investigation Reports
  • Locke Lord LLP
  • USA
  • July 20 2016

The Illinois Department of Insurance recently issued a bulletin requiring all companies to obtain independent third party background


TRIA Update: Insurers May Be Asked to Segregate TRIA Premium
  • Locke Lord LLP
  • USA
  • July 15 2016

This month, the Federal Insurance Office (“FIO”) issued its “Report on the Overall Effectiveness of the Terrorism Risk Insurance Program” (the


Surplus Lines Tax Filing Update: Surplus Lines Clearinghouse Issues Bulletin Discontinuing Multistate Platform
  • Locke Lord LLP
  • USA
  • July 11 2016

As we previously reported here, the Non-Admitted Insurance Multi-State Association ("NIMA") had announced its intentions to dissolve, with a run-off


New York Life Industry Update: Principle-Based Reserving for Life Insurers coming in 2018
  • Locke Lord LLP
  • USA
  • July 8 2016

This week, the New York Department of Financial Services (the “Department”) announced that it will adopt a principle-based


New York Surplus Lines Tax Update: New York Clarifies Franchise Tax Position on Surplus Lines Insurers under Backdrop of NRRA
  • Locke Lord LLP
  • USA
  • July 6 2016

Last month, New York issued two advisory opinions that could alter the tax obligations for surplus lines insurers. Advisory Opinion TSB-A-16(5)(C


Texas Department of Housing and Community Affairs and Its Potential Impact on Underwriting Policies and Procedures
  • Locke Lord LLP
  • USA
  • May 24 2016

In Texas Department of Housing and Community Affairs v. Inclusive Communities Project, Inc., 135 S. Ct. 2507 (2015), one of the most watched cases of


Reinsurer “Access to Records” and “Common Interest” - Permitting Access and Preserving Privilege
  • Locke Lord LLP
  • USA
  • May 24 2016

An integral part of the relationship between the reinsurer and cedant is that the reinsurer be permitted access to the ceding company's books and


The General Data Protection Regulation: What Insurers Should Do Now to Prepare for Its Implementation
  • Locke Lord LLP
  • European Union, USA
  • May 24 2016

The General Data Protection Regulation (GDPR or Regulation) has been approved by European Union (EU) members as well as the Council of Europe and, at


Florida to Withdraw from the Nonadmitted Insurance Multi-State Agreement
  • Locke Lord LLP
  • USA
  • May 16 2016

The Florida Surplus Lines Office (“FSLO”) has reported that, effective June 1, Florida will withdraw from the Nonadmitted Insurance Multi-State


New York’s Highest Court Holds All Sums Allocation And Vertical Exhaustion Applied To Excess Insurance Coverage For Asbestos Claims
  • Locke Lord LLP
  • USA
  • May 4 2016

On May 3, 2016, the Court of Appeals of New York issued its opinion in In re Viking Pump, No. 59, 2016 WL 1735790, and found that "all sums"