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25 Feb 2019, 12:53 pm
The first step in any fronting relationship is the MGA / TPAs forming what is known as a Producer Owned Reinsurance Company, or PORC. [read post]
19 Jan 2023, 5:16 am
At present, the insurance industry is reluctant to offer large limits because reinsurers are concerned about potential exposure to a variety of cyber catastrophes. [read post]
16 Mar 2011, 5:34 am
” Thus, in the limitations context, the Court held that “it makes sense to link the standard for ‘discovering’ the facts of a violation to the plaintiff’s ability to make out or plead that violation. [read post]
24 Mar 2021, 9:06 am
The post Warning Shot Across the Bow – The CA Dept. of Insurance and Rebating appeared first on Insurance & Reinsurance. [read post]
19 Oct 2012, 1:34 am
The new legislation will (i) increase policyholders awareness of the possibility of rate increases, while slowing the frequency and severity of those increases; (ii) prevent insurers from increasing rates in the absence of adverse experience; (iii) require insurers to spread claims experience costs across three categories of coverage within all affiliated companies, foreclosing the ability of insurers to segment blocks and treat them separately; (iv) and it limits the… [read post]
13 May 2019, 1:54 pm
The change is to expedite service to insureds while maintaining the state’s ability to protect consumers. [read post]
8 Feb 2021, 7:51 am
” Under this bill, insureds classified as small businesses in Pennsylvania would receive 100% of the policy limit on covered losses, while insureds not classified as small businesses in Pennsylvania would receive 75% of the policy limit on covered losses. [read post]
14 May 2019, 6:16 am
The post What Every InsurTech Should Know About Privacy and Cybersecurity appeared first on Insurance & Reinsurance. [read post]
18 Oct 2022, 7:25 am
In a nod to the ability of surplus lines insurers to offer accident and health coverages, the task force deleted the limiting reference of “property and casualty” in the definition of Surplus Lines Insurance in the draft. [read post]
30 Aug 2017, 7:16 am
Some questions regarding this later point to come to mind and curious insurers and reinsurers may find interest in the answers: Will the processing time be faster? [read post]
3 Jun 2011, 2:44 am
In Arash Shipping Enterprises Company Limited v Groupama Transport, the Court of Appeal considered the impact of Council Regulation (EU) No.961/2010 (the Regulation) on a contract of insurance. [read post]
12 Nov 2019, 9:51 am
It is worth noting that these data thresholds are not limited to U.S. citizens. [read post]
29 Oct 2012, 9:46 am
The decision is significant to cross-border insolvencies in relation to the ability to enforce foreign insolvency judgments within England andWales. [read post]
23 Nov 2010, 1:36 pm
Indeed, the agency’s computer software gave it the ability at all times to control where it wrote the policies. [read post]
24 Apr 2020, 2:23 pm
For example, under New York Assembly Bill A10226A, “[a]ny clause or provision of a policy of insurance insuring against loss or damage to property, which includes, but is not limited to, the loss of use and occupancy and business interruption, which allows the insurer to deny coverage based on a virus, bacterium, or other microorganism that causes disease, illness, or physical distress or that is capable of causing disease illness, or physical distress shall be null and void . . . . [read post]
18 Mar 2013, 8:30 am
Limits on ability to audit or question the bills you receive are greatly curtailed, see State CA v Sutter Health & MultiPlan. 3. [read post]
12 Sep 2017, 12:55 pm
And, while it is possible that we will also see some short-term local retreats (much like Hannover Re’s efforts to limit its Florida exposure after Hurricane Katrina), any price increases will “likely be limited”, according to Steve Hearn, CEO of Ed Broking Group Ltd. [read post]
13 May 2020, 4:58 pm
The post COVID-19 Daily Insurance Regulatory Updates To Keep You Informed During The Lockdown (May 13, 2020) appeared first on Insurance & Reinsurance. [read post]
10 Feb 2020, 10:55 am
Jurisdictions also differ as to whether defense-within-limits clauses and claims-made policy standards apply to the surplus lines market, to name just a few. [read post]
17 Jun 2019, 1:39 pm
The post Locke Lord QuickStudy: New Washington Statutory Financial Requirements for Providers of Service Contracts and Protection Product Guarantees Effective July 28, 2019 appeared first on Insurance & Reinsurance. [read post]
