Last week, 10 California homeowners filed suit in Los Angeles County Superior Court against the California FAIR Plan Association (CFPA) and several of its largest insurance company members. Plaintiffs allege defendants...more
California’s largest insurance reform in over 30 years is being implemented through regulations passed by the Department of Insurance’s Sustainable Insurance Strategy (“SIS”). These changes address insurance availability and...more
Our hearts are with all of the fire victims in this devastating time. This advice is not new, but it bears re-circulating due to the current crisis: Maximizing Homeowner Insurance Coverage Benefits After a Fire....more
We keep hearing about how difficult it is for our clients to get property insurance these days, both for homes and businesses in Northern California’s wildfire-prone areas. Which, of course, is most of Northern California. ...more
Property and casualty insurance companies’ decisions to withdraw from certain lines of business, in jurisdictions such as California and Florida, has garnered a great deal of attention in recent months. The Connecticut...more
The Colorado Division of Insurance (CDI) adopted a new regulation on September 21, 2023 (Final Regulation) establishing requirements governing the use of external consumer data and information sources (ECDIS), as well as...more
The Connecticut General Assembly has proposed a bill that would permit owners of self-storage businesses to sell property insurance to their tenants. Under Senate Bill 1037 (the “Bill”), an owner is required to obtain a...more
On November 16, 2021 American Integrity Insurance Company of Florida filed a request for approval for an endorsement to its Homeowners multi-peril policy. The proposed endorsement addresses what are often discussed as the...more
On August 16, 2021, The Connecticut Department of Insurance released its National Survey on Climate Risk in the Insurance Industry. The survey’s main objectives are for insurers to report on climate-related risks and to...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
State insurance departments across the country are continuing to provide guidance in response to the coronavirus outbreak. Faegre Drinker has aggregated a list of current guidance from state departments of insurance...more
- California Insurance Commissioner Ricardo Lara issued Bulletin 2020-3 requiring insurers to refund premiums to policyholders of several lines of insurance, including automobile insurance, workers compensation and property...more
Amid the chaos surrounding the COVID-19 outbreak, the Texas Department of Insurance has issued a Commissioner’s Bulletin extending certain claim-handling prompt payment deadlines for property carriers handling claims in...more
The Texas Department of Insurance (“TDI”) has released its 2018 Biennial Report to the 86th Texas Legislature. Every two years and pursuant to Texas Insurance Code section 32.022, TDI releases a report on insurance areas...more
The Texas Department of Insurance released its 2018 Biennial Report to the Legislature with recommendations and policy discussions for the upcoming legislative session. The Department recommends the Legislature: Require...more
Volcanoes, hurricanes, and polar vortexes—oh, my! From the ongoing eruption of the Kilauea volcano in Hawaii, to huge winter storms, massive mudslides, and the unfortunately reliable hurricane season, it seems like natural...more
The wildfires that erupted across Northern California in the beginning of October have, according to the California Department of Insurance, damaged or destroyed more than 7,000 structures and have ravaged some of...more
Last week, we wrote a post about a number of bulletins of potential interest to property insurers issued by the Texas Department of Insurance concerning the appropriate conduct of those involved in the insurance claims...more
During the first half of 2015, state legislatures and state insurance departments continued to revise state credit for reinsurance laws and regulations. The majority of these legislative and regulatory developments are due to...more