Insurers Are No Longer Required to File Rates and Forms for Certain Commercial Risks in Texas
September 7, 2021
by Julie M. Pomerantz
On September 1, 2021, Texas SB 1367 went into effect, exempting certain lines of commercial property and casualty insurance from rate and form filings, as summarized below. In other words, Insurers are no longer required to file rates and forms with TDI for certain commercial risks. Please note…
LEGAL ALERT: Big Licensing Changes for Texas Insurance Professionals
September 2, 2021
by Julie M. Pomerantz
On September 1, 2021, Texas HB 4030 went into effect, bringing with it several significant changes for Texas licensed (resident and non-resident) insurance professionals. As summarized below, HB 4030 implements several changes to the Texas Insurance Code. The changes affect subagent designations…
Costs of Wild Fires, Extreme Heat and Floods: California Department of Insurance Report Examines Climate Insurance
The California Department of Insurance (“CDI”) issued a report titled: Protecting Communities, Preserving Nature and Building Resiliency – How First-of-its-Kind Climate Insurance Will Help Combat the Cost of Wildfires, Extreme Heat and Floods (“Report”) The recommendations in the Report were…
2021 Arkansas Insurance Legislation Summary: Act 925 Prohibits Life Insurance/Annuity Beneficiary Change through Will
June 29, 2021
by Derrick W. Smith
This is the sixth and final article in a series of summaries of Insurance legislation from the 93rd Arkansas General Assembly. In a surprising move, the Arkansas General Assembly overrode long-standing Arkansas common law that permits an insured to change a beneficiary of an insurance policy via…
2021 Arkansas Insurance Legislation Summary: Arkansas Insurance Business Transfer Act
June 28, 2021
by Derrick W. Smith
This is the fifth article in a series of summaries of Insurance legislation from the 93rd Arkansas General Assembly. Arkansas has joined a number of states in enacting legislation meant to allow an insurer to transfer blocks of business to another insurer without the need for individual…