Stay updated with the latest InsurTech and Insurance events and conferences. Join our upcoming events to network and learn from industry leaders.
Date: Open through July 22, 2024
InnSure and NYSERDA have announced that applications for the Insurance Innovation Prize are now open! The Prize aims to promote the launch of insurance solutions that fill insurance coverage gaps in New York’s — and the nation’s — most emissive sectors: energy, buildings, and transportation.
Date: August 27, 2024
Location: Nashville, Tennessee
The LIC CEO Forum is a great chance for chief executives from small to midsize life insurance companies and fraternals to get together in a unique peer networking meeting.
Launched: June 30, 2022
DFS Exchange is the Department’s newly-launched engagement platform to foster the growth of responsible innovation in financial services in New York. Through DFS Exchange, financial innovators and stakeholders are invited to meet directly with DFS subject-matter experts to establish an open and ongoing dialogue and present DFS as a transparent, innovation-friendly regulator.
Date: October 15-17, 2024
The world’s largest gathering of insurance innovation, ITC Vegas, presented by McKinsey & Company, combines unbeatable networking with what’s new and next, ensuring your time will be spent meeting more people, sourcing more solutions, and creating valuable partnerships.
Date: November 20, 2024
The IIA Annual Event 2024, a premier gathering of industry leaders, innovators, and experts in the field of InsurTech. This one-day event will offer a dynamic agenda featuring panel discussions, keynote addresses, deep-dive sessions, workshops, demos, and fireside chats.
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Our partners over at Locke Lord have generously agreed to contribute to the InsurTech NY community with some educational pieces about the insurance industry and commonly used terms in it. We will be adding to this InsureTerms list periodically, so check back for more insights from Locke Lord’s team.
Insurance statutory accounting principles for insurance companies which are codified in the National Association of Insurance Commissioners’ Accounting Practices & Procedures Manual, and sometimes by a “permitted practice” of a state insurance department; the term is oftentimes used as an accounting reference for insurance company financial matters in a stock purchase agreement, managing general agreement and reinsurance agreement. SAP is an enterprise liquidation value oriented method of accounting, which is much different than U.S. Generally Accepted Accounting Principles, which an insurance holding company would normally use for preparing its financial statements. April 9, 2024 | Contribution by BCasey@lockelord.com
A Managing General Agent, which has both business and legal context meanings. In the business context, an MGA is an insurance producer that, under an agreement with an insurer, has the authority from the insurer to produce insurance business using the insurer’s policy forms and rates, or policy forms and rates developed by the MGA for use in the name of the insurer, and may also handle insurance claims for the insurance policies produced by the MGA. Oftentimes, an MGA will bring a reinsurance company partner to the transaction that will reinsure the “fronting insurer” for which the MGA acts. From a legal perspective, many state insurance departments issue a separate MGA license to a licensed insurance producer where it meets the legal definition of an MGA, which generally is an insurance producer that
April 9, 2024 | Contribution by BCasey@lockelord.com