New York Attempts to Modernize Its Approach to Excess Lines Brokers
In Issue 19-1 of ELANY Elaborates, ELANY details their collaborative effort with the New York legislature to modernize New York’s […]
Westmont Wire
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Kentucky DOI Clarifies Position on Arbitration Provisions
On January 25, 2019, the Kentucky Department of Insurance issued Bulletin 2019-1, explaining its position on arbitration or other out-of-court
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Maryland Seeks to Impose Fiduciary Standards on Agents, Brokers, and Dealers
The Maryland Senate and House of Representatives have introduced companion bills-Senate Bill 786 and House Bill 1127-aimed at boosting consumer
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ELANY Issues Bulletin Reiterating Position on Excess Line Binders and Confirmations of Coverage
The NYDFS recently completed an audit of records of NY excess line transactions submitted by brokers and found that binders
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Florida Senator Seeks to Replace the Existing No-Fault Law
A Florida Senator is again proposing a measure to eliminate the existing motor vehicle no-fault insurance law and replace it
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New York Issues Guidance on Use of External Data in Underwriting Life Insurance
On January 18, 2019, the New York State Department of Financial Services (“the Department”) released Insurance Circular Letter No. 1
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Michigan Seeks to Enact Consumer Rate Relief Programs for No-Fault Insurance
On January 15, 2019, the Michigan Senate introduced a bill, Senate Bill No. 1 (“SB 1”), aimed at reducing costs
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Travel Insurance Model Law Adopted by the NAIC
On December 19, 2018, the National Association of Insurance Commissioners (“NAIC”) adopted a Travel Insurance Model Law after three years
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New York Department of Financial Services Cybersecurity: Action Required for Regulated Entities
The New York Department of Financial Services (NYDFS) requires all regulated entities and licensed persons to file the annual Certification