Category: National Insurance Regulation News and Updates

  The U.S. Government Accountability Office (“GAO”) reported that the majorrity of states lack liability statutes relating to general aviation.  To view the GAO report and accompanying documents, click here.  Below is the GAO report summary: What the GAO Found …

  HARRISBURG, Pa., Sept. 8, 2015 /PRNewswire-USNewswire/ — Secretary of Banking and Securities Robin L. Wiessmann today announced the formation of a Cybersecurity Task Force designed to provide resources to the financial services companies under its supervision to address cybersecurity …

  As lender-placed insurance (“LPI”) has become more prevalent in the post-Financial Crisis market, its higher premiums and minimal regulatory oversight have raised concern among both regulators and consumer groups.  Without more comprehensive and reliable data, state and federal regulators …

  With the content of some insurers’ adverse action notices having been a source of significant consumer confusion in Maine, Superintendent of Insurance Eric A. Cioppa directed Bulletin 406, entitled “Insurance Scoring—Adverse Action Notices” to insurers that use credit information …

Above:  Colodny Fass’ Donovan Brown Notes Maine and Washington D.C. Price Optimization Bulletins     Maine and Washington D.C. became the latest states to issue bulletins on price optimization last week. To read an A.M. Best article on the developments, …

  Revisions to a number of insurance-related regulations have been adopted by the Alabama Department of Insurance (“ALDOI”), the agency announced on August 21, 2015.   Below is a listing of each and a corresponding hyperlink to the newly adopted …

Above:  Colodny Fass’ Donovan Brown Notes Pennsylvania’s Longstanding Price Optimization Prohibition   The Pennsylvania Insurance Department (“PID”) issued Notice 2015-06 from Pennsylvania Insurance Commissioner Therese Miller this weekend to warn insurers against price optimization after the question of whether the practice may be used …

  Arizona Governor Douglas A. Ducey has appointed Darren T. Ellingson as the State’s Acting Director of Insurance. Mr. Ellingson replaces Germaine Marks, who recently resigned as Director to accept a position in the private sector.  “I look forward to …

  Insurance regulators’ findings indicate coverage crisis in southeast Missouri   The value of uninsured residential properties for earthquake damage has nearly eclipsed the value of insured properties in Missouri, insurance regulators are warning. According to the 2015 Earthquake Report …

  UPDATE!  Application Deadline Extended to September 1, 2015! The Texas Department of Insurance issued a reminder today, August 11, 2015, that it is accepting applications for the Texas Windstorm Insurance Association (“TWIA”) Board of Directors (“Board”).  The makeup of the …