The Texas Department of Insurance posted an informal working draft and seeks stakeholder comment on amendments that would update 28 TAC §5.4605, relating to Items Not Requiring an Inspection for the Purposes of...
Category: National Insurance Regulation News and Updates
Barbara Richardson Appointed As Nevada Insurance Commissioner
February 19, 2016
Barbara Richardson has been appointed as Nevada Insurance Commissioner, it was announced by Nevada Department of Business and Industry Director Bruce Breslow today, February 19, 2016. Ms. Richardson will...
National Highway Traffic Safety Administration Says Self-Driving Vehicles’ Artificial Intelligence Tantamount to ‘Driver’ Under Certain Circumstances
February 10, 2016
Reuters reported today that the National Highway Traffic Safety Administration (“NHTSA”) has issued a letter interpreting that the artificial intelligence system piloting a self-driving vehicle could be...
Missouri law prohibits the use of rates that are excessive, inadequate or unfairly discriminatory The Missouri Department of Insurance (“MDI”) issued Bulletin 16-02 to Missouri insurers yesterday,...
Texas Windstorm Insurance Association To Accept Peer Review Applications on Proposed Wind/Water Loss Model
December 22, 2015
The Texas Windstorm Insurance Association’s (“TWIA’s”) Expert Panel will hold a January 7, 2016 public meeting on the progress of its work to date. During this meeting, the Panel will present...
Connecticut Insurance Commissioner Bans Property and Casualty Carriers From Using Price Optimization
December 4, 2015
Connecticut Insurance Commissioner Katharine L. Wade announced in Bulletin PC-81 issued today, December 4, 2015, that the Connecticut Department of Insurance has officially warned property and casualty insurance...
COLUMBIA, S.C.–(BUSINESS WIRE)–The Seibels Bruce Group, Inc., (Seibels), an insurance services provider of business process outsourcing solutions, and Centauri Insurance, a seasoned insurance provider using...
Minnesota Commerce Commissioner Orders Insurers to Stop ‘Illegal Pricing Practice’
November 16, 2015
Minnesota Commerce Commissioner Mike Rothman is ordering insurers doing business in Minnesota to stop the practice of “price optimization” in setting rates for auto and homeowners insurance, the Minnesota...
Multi-State Coastal Band Wind Insurance Pool Among Alabama Governor’s Coastal Insurance Working Group Solutions to ‘Functionally Uninsured’
November 9, 2015
Creation of a “Coastal Band” wind insurance pool comprising states from Texas to Florida is among the solutions being considered by Alabama Governor Robert Bentley’s Coastal Insurance Working Group as...
Montana and Rhode Island Address Insurer Price Optimization
October 6, 2015
Montana and Rhode Island have become the most recent states to address “price optimization,” with Montana issuing an outright ban on the practice. Summaries of each states’ respective announcement are...