In Bulletin 2013-13 issued today, March 4, 2013, the Excess Lines Association of New York (“ELANY”) advised that the New York Department of Financial Services (“DFS”) moratorium on cancellations...
Category: National Insurance Regulation News and Updates
In a letter to Federal Housing Finance Agency Director Edward DeMarco yesterday, February 27, 2013, U.S. Representative Maxine Waters, Ranking Member of the House Financial Services Committee (“Committee”),...
The following article was published in Insurance Networking News on January 8, 2013 and updated today, January 9, 2013 to reflect that AIG has refused to join litigation against the federal government: AIG Refuses to...
U.S. Government Accountability Office Recommends Making Flood Mapping of Certain Indian Tribal Lands A Higher Priority
January 4, 2013
In a report issued today, January 4, 2013, the U.S. Government Accountability Office (“GAO”) has recommended that the Federal Emergency Management Agency (“FEMA”) Administrator examine ways to...
Already in Debt, National Flood Insurance Program Facing Billions of Dollars in Sandy Claims, FEMA Tells Federal Advisory Committee on Insurance
November 15, 2012
Already strapped with a $17 billion debt, the National Flood Insurance Program (“NFIP”) faces looming new flood-related claims from “Superstorm” Sandy, the cost of damage from which early projections...
Above: Mike Culbertson, President, The Seibels Bruce Group The Seibels Bruce Group (“Seibels”) issued a news release today, October 22, 2012, announcing the upcoming retirement of its...
Louisiana Insurance Commissioner Jim Donelon defends Hurricane Isaac emergency rule
September 19, 2012
The following article was published in the Louisiana Times-Picayune on September 19, 0212: Above: Louisiana Insurance Commissioner Jim Donelon By Ed Anderson, The Times-Picayune Published in the New...
California State Legislature Passes Reinsurance Collateral Legislation (SB 1216); Bill Awaits Action by Governor Jerry Brown
August 23, 2012
The California State Legislature has passed reinsurance collateral legislation (SB 1216) that will now go to Governor Jerry Brown for action. Should it become law, the bill would grant the California Insurance...
Excess Lines Association of New York (ELANY) Issues License Renewal Reminder for Excess Lines Brokers
August 9, 2012
On August 9, 2012 the Excess Line Association of New York issued Bulletin 2012-21 reminding Excess Line Brokers of upcoming license renewal requirements. The Bulletin outlines pertinent information for both...
Comments on Draft ComFrame Due to the International Association of Insurance Supervisors by August 31, 2012
August 6, 2012
Public comments on a working draft of the Common Framework for the Supervision of Internationally Active Insurance Groups (“ComFrame”) are due to the International Association of Insurance Supervisors...