The Missouri Department of Insurance (“Department”) announced today, October 2, 2014, that Mary Johnson has been appointed to the position of Department Chief of Investigations. Ms. Johnson has held the...
Category: National Insurance Regulation News and Updates
By Wes Strickland, Esq. (above, left) and Claude Mueller (right) Directed by the Financial Stability Board to develop a risk-based global insurance capital standard within the Common Framework for the...
Arkansas Insurance Department–Depreciation of Labor Prohibited When Calculating Actual Cash Value Payment in Property Claims
September 17, 2014
The Arkansas Insurance Department (“Department”) issued Bulletin 13B-2013 on September 16, 2014 to clarify its position on the depreciation of labor in property claims. To view the Bulletin,...
Proposed Rules on Ohio Captive Insurance Regulation Open for Comment Until October 1, 2014
September 17, 2014
The Ohio Department of Insurance (“Department”) advised today, September 17, 2014, that proposed new Rules 3901-11-01, 3901-11-02, 3901-11-03 and 3901-11-04 relating to captive insurance have been posted...
Virginia Bureau of Insurance–Property Claim Appraisal Awards Are Binding; Insurance Coverage Forms Must be Amended
September 3, 2014
The Virginia Bureau of Insurance (“Bureau”) advised via memorandum on August 29, 2014 that all licensed property and casualty insurers and rate service organizations must amend coverage forms to remove...
Peter Braumüller, Chairman of the Executive Committee of the International Association of Insurance Supervisors (“IAIS”), announced yesterday, August 28, 2014, that the insurance supervisors of...
EU-US Insurance Project Proposes Initial Steps on Reinsurance Collateral Covered Agreement by Year-End 2014
August 14, 2014
Amid mounting assertions by United States (“US”) lawmakers and regulators that individual states should participate directly in the debate on international insurance regulatory standards and convergence,...
Comments Due on Draft International Association of Insurance Supervisors’ (IAIS) Procedures by September 2, 2014
August 12, 2014
Public comments are due by September 2, 2014 on the International Association of Insurance Supervisors’ (“IAIS”) “Draft Procedures on Meeting Participation and the Development of Supervisory and...
Delaware Insurance Commissioner Karen Weldin Stewart issued Surplus Lines Bulletin No. 13 on June 30, 2014 to address the addition of a notary signature form to the current Statement of Diligent Effort (Form SL-1923 or...
Maryland Insurance Commissioner Therese M. Goldsmith announced the appointment of Ms. Nancy Grodin as Deputy Insurance Commissioner, effective today, July 1, 2014. As Deputy Commissioner, Ms. Grodin will oversee...