Category: National Insurance Regulation News and Updates

  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 position of Chief Investigative Auditor for the Missouri Attorney …

   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 Supervision of Internationally Active Insurance Groups (“Comframe”), the …

  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, which replaces Bulletin 13A-2013 in its entirety, click here. In …

  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 for public review and comment. On June 17, 2014, Ohio Governor John …

  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 language requiring appraisal awards in property claims to be …

  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 California and Virginia have joined an international supervisory cooperation and information exchange agreement.  There …

  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, the EU-US Insurance Project has proposed that initial steps should be taken toward …

  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 Supporting Material and Draft Policy for Consultation of Stakeholders” document, which is …

  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 “Form”).  The addition was …

  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 day-to-day operations of the Maryland Insurance Administration (“MIA”).  Appointed as …