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 Insurance Licensing, the Insurance Department’s Technical Corrections
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Nebraska Adopts AI Guidance
On June 11, 2024, the Nebraska Insurance Department issued Guidance IGD-H1 on the Use of AI By Insurers. This brings the total to 13 jurisdictions that have adopted the NAIC Model Bulletin on the Use of AI Systems in Insurance.…
You’re Invited: Locke Lord and FTI Consulting Present a Webinar – Recognizing and Resolving Financial and Legal Issues Encountered by Distressed Health Care Businesses
Please join Locke Lord and FTI Consulting for a complimentary webinar series on market influences and legal and regulatory issues impacting the health care industry in 2024. Over the next several months, we will explore the current deal-making environment, the…
Massachusetts Issues Insurance Bulletin Discussing Inducements, Rebates and Affiliated Entities
By Jeffrey Bohn
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 insurance companies and insurance producers.” The Division issued the Bulletin to…
New York Department of Financial Services Issues Guidance on Insurance Loss Mitigation Tools and Services
By Jeffrey Bohn
On May 23, 2024, the New York Department of Financial Services (the “Department”) issued Insurance Circular Letter No. 3 (the “Letter”). The Letter is addressed to “all insurers authorized to write property/casualty insurance in New York State, the New York…
DC Adopts Bulletin 24-IB-002-05/21 on the Use of Artificial Intelligence Systems in Insurance
On May 21, 2024, the DC Insurance Commissioner, Karima M. Woods, issued Bulletin 24-IB-002-05/21 on the Use of Artificial Intelligence Systems in Insurance to all Insurers licensed to do business in the District of Columbia. …
Join Us for Our Next InsurTech Legal Academy Webinar: Artificial Intelligence Regulation for InsurTech
Join Locke Lord, InsurTechNY and InsurTech Hartford for their next InsurTech Legal Academy webinar series on legal and regulatory issues impacting the InsurTech industry. Each quarter, we tackle a new important topic impacting InsurTechs. This webinar will address the potential…
Excess and Surplus Lines Law Manual 2024 Update
We are happy to provide the 2024 edition of our Excess and Surplus Lines Law Manual. This edition reflects all of the pertinent changes in the surplus lines laws and regulations of the 50 states and U.S. territories during the…
Washington Issues Technical Assistance Advisory 2024-02 Regarding the Use of AI in Insurance
On April 22, 2024, the Washington Office of the Insurance Commissioner issued Technical Assistance Advisory 2024-02 regarding “The Use of Artificial Intelligence Systems in Insurance” (the “Advisory”).…
Maryland Issues Bulletin No. 24-11 on the Use of AI in Insurance
Commissioner Kathleen Birrane, Maryland Insurance Administration, on April 22, 2024 issued Bulletin No. 24-11, The Use of Artificial Intelligence Systems in Insurance (the “Bulletin”).…