Category: Insurance

Big Data and Insurance – The Regulatory Approval Process for Insurtech Data Models

Data is often the key ingredient to an insurtech’s success. From the use of drone data to automatically pay insurance claims after a hurricane, to AI that can predict the likelihood of insurance fraud – big data has the potential to revolutionize the insurance industry. But before an insurtech can […]

NYDFS Guidance to Insurers to Pay Abuse Claims

The New York Department of Financial Services (DFS) has issued an industry guidance to all insurers, licensed producers, adjusters and reinsurers in light of the statute of limitations window that has been opened in New York for child abuse victim claims, advising all of the above parties that the DFS […]

Cooley team to attend Insurtech Connect

A Transatlantic team of Cooley lawyers will be heading to the Insurtech Connect conference in Las Vegas next week and is looking forward to connecting with the diverse mix of start-ups, funds and traditional insurers attending the event from around the world. The Cooley attendees are Derek Colla, Sam Tacey, […]

Cooley Partners Publish Insurance Day Article on Cyber Due Diligence and Insurance

Cooley partners Mark Deem and Mark Everiss recently published the following article in Insurance Day. The original article can be found here (log in required). Legal Focus: UK data regulator increases focus on cyber due diligence and insurance in M&A The announcement at the start of the summer the UK’s […]

The Future of Insurance Regulation in a Time of Technological Change: A Perspective From the NAIC’s Spring Meeting 2019

A key part of the counsel we provide to our insurtech clients is assisting them in navigating the insurance regulatory landscape, with 50 separate state-based legal systems regulating the insurance industry. While having to comply with 50 separate laws every time you make a business decision can appear to be […]

The end of auto insurance as we know it: How big data will reshape the future of the autonomous vehicle insurance market

Despite the recent wave of articles forecasting that the rise of autonomous vehicles will lead to a decline in auto insurance premiums, we believe it is more accurate to say that the advent of self-driving cars will cause the personal auto insurance policy, as we know it, to disappear at […]

PLUS D&O Symposium: Rise of Cryptocurrency and Blockchain Creates New Exposures

Last week, the Professional Liability Underwriting Society (PLUS) held its annual Directors and Officers (D&O) insurance symposium, which brings together key players and thought-leaders in the insurance industry to discuss leading issues impacting the D&O insurance marketplace.  The symposium included excellent panel discussions on emerging trends and significant insurance issues, […]

Insurtech in the US, Bermuda and Beyond – presentation, Thursday 21 February

Next Thursday 21 February, Cooley partner Heidi Lawson and Special Counsel Greg Hoffnagle will be presenting at Lloyd’s of London on ‘Insurtech in the US, Bermuda and Beyond’.

US: Second Circuit Highlights Importance of Disclosures in Insurance Policy Warranty Statement

The United States Court of Appeals for the Second Circuit recently issued a decision highlighting the significance of full disclosure in an insurance policy warranty statement and the critical importance of negotiating such warranty statements to define the specific persons whose knowledge may be considered knowledge of the company for […]

Supreme Court rules on scope “malice” in war risks insurance policy

  In Navigators Insurance v Atlasnavios Navegacao [2018] UKSC 26, the Supreme Court was asked to consider whether the smuggling of cocaine on a vessel, unknown to the owners or crew, constituted a ‘person acting maliciously’ in a war risks insurance policy. The clause in question was the standard form […]