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Insurance Industry New Legislation NAIC

McDermott Will & Emery

Louisiana MGA Legislation: A Sign of Heightened Scrutiny?

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Louisiana recently amended its statutes regulating managing general agents (MGAs). Certain of the amendments conform Louisiana law to the National Association of Insurance Commissioners MGA Model Act (NAIC Model) adopted in...more

Sheppard Mullin Richter & Hampton LLP

Kentucky and Maryland Enact Insurance Data Security Laws

In April, Kentucky (HB 474) and Maryland (SB 207) adopted insurance data security legislation based on the National Association of Insurance Commissioners (NAIC) model law. A total of 15 states have adopted the NAIC Model...more

BakerHostetler

Kentucky Joins Nearly 30 States by Enacting an Insurance Data Security Law

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Kentucky became the latest state to adopt the NAIC insurance data security model law with Governor Andy Beshear’s signing of House Bill 474. The new law goes into effect Jan. 1, 2023, and gives covered licensees one or two...more

Hinshaw & Culbertson - Privacy, Cyber & AI...

Wisconsin Adopts New Insurance Cybersecurity Law

On July 15, 2021, Wisconsin Governor Tony Evers signed Act 73 (Act) into law, making Wisconsin the latest state to adopt the National Association of Insurance Commissioner's (NAIC) model cybersecurity law. Most recently, Iowa...more

Ballard Spahr LLP

Delaware and New Hampshire Join Growing List of States With New Insurance Data Security Laws

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Delaware (July 31, 2019) and New Hampshire (August 2, 2019) have become the latest states to add to the insurance cybersecurity landscape by enacting information security laws.  These laws come on the heels of Connecticut’s...more

White and Williams LLP

Delaware Signs Insurance Data Security Act into Law

On July 31, 2019, Governor Carney signed the Delaware Insurance Data Security Act (formerly, HB 174) into law. Based on the National Association Of Insurance Commissioners (NAIC) Insurance Data Security Model Law, the...more

Carlton Fields

Alaska Follows Other States In Adopting Law Based On Updates To NAIC Credit For Reinsurance Model Law

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On July 13, 2018 Alaska became the last state to incorporate amendments to the NAIC Credit for Reinsurance Model Law into its insurance code when Governor Bill Walker (I) signed House Bill 401 into law....more

Carlton Fields

Michigan Amends Reinsurance Credit Statute To Conform To NAIC Model Law

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On April 10, 2018 Michigan Governor Rick Snyder (R) signed Michigan Senate Bill 638 into law to amend the state’s insurance code to conform to the National Association of Insurance Commissioner (“NAIC”)’s model law on...more

Carlton Fields

West Virginia Amends Credit For Reinsurance Statute To Conform To NAIC Model, Effective January 1, 2019

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West Virginia House Bill 4230, approved by Governor Justice on March 27, amends the statutory requirements relating to when an insurer may claim credit for reinsurance to conform to the NAIC model law....more

Steptoe & Johnson PLLC

West Virginia OIC Releases Summary of 2017 Insurance Legislation

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The West Virginia Office of the Insurance Commissioner has released Informational Letter No.199 summarizing significant insurance legislation enacted during the 2017 Regular Session and First Special Session of the West...more

Carlton Fields

South Dakota Adopts Credit For Reinsurance Model Law

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On March 6, 2017, the Governor of South Dakota signed into law House Bill 1045 conforming South Dakota law to the current version of the Credit for Reinsurance NAIC Model Law (Model 785). ...more

Locke Lord LLP

California Adopts NAIC Corporate Governance Annual Disclosure Requirements

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On Monday, August 17, 2015, California Assembly Bill 553 was signed by Governor Jerry Brown, and became immediately effective. AB 553 adopts much of the NAIC’s Model Corporate Governance Annual Disclosure Model Act, along...more

Carlton Fields

Credit For Reinsurance Laws – 2015 Legislative And Regulatory Developments

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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

Foley & Lardner LLP

Florida Implementing New Insurance Agency Licensing Law

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In 2014, the Florida Legislature enacted a law that makes significant changes to the way insurance agencies are licensed in Florida. The new law amends Florida’s insurance agency licensure law, and is intended to streamline...more

Hinshaw & Culbertson LLP

New Insurance Laws and Pending Legislation in California

The California Legislature ended its 2013 session on September 13, 2013. The Legislature passed a number of insurance-related bills during this year’s session. Some of the bills passed this year have already been signed into...more

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