Category: National Insurance Regulation News and Updates
Aug 3, 2015
Above: Colodny Fass’ Donovan Brown Notes U.S. Government Accountability Office Report on Insurance Capital Standards Development With large, internationally active insurance companies accounting for 28 percent of the aggregate insurance premiums underwritten in the United States in 2014, the …
Jul 21, 2015
Above: Colodny Fass’ Donovan Brown Notes Indiana Insurance Commissioner’s Directive on Price Optimization Indiana became the seventh state to ban insurance company use of “price optimization” in ratemaking with its publication of Bulletin 219 by the Indiana Insurance Department …
Jul 9, 2015
In Bulletin(s) HC-103 and PC-79 issued yesterday, July 8, 2015, Connecticut Insurance Commissioner Katharine Wade advised all insurance companies and others doing business in the State of Connecticut on certain provisions that will not be approved in a stop …
Jul 8, 2015
Following the resignation of former Nevada Insurance Commissioner Scott J. Kipper, Nevada Department of Business and Industry Director Bruce Breslow appointed Amy L. Parks as Acting Insurance Commissioner yesterday, July 7, 2015. The appointment will be the second time …
Jul 3, 2015
Above: Colodny Fass’ Donovan Brown notes Vermont Department of Financial Regulation bulletin on “price optimization” factors in property and casualty ratemaking In Bulletin 186 issued last week, the Vermont Department of Financial Regulation (“VDFR”) addressed the issue of “price optimization” …
Jul 2, 2015
The State of Georgia has proposed a complete repeal of its current regulations relating to captive insurance companies, with the goal of adopting a new Rule Chapter on the same subject pursuant to the enactment of HB 552 this …
Jul 1, 2015
Any excess line policy submitted to the Excess Line Association of New York (“ELANY”) that contains the so-called “Most Favored Nation” punitive damage insurability clause or similar language will be suspended and reported to the New York Department of …
Jun 30, 2015
The International Association of Insurance Supervisors (“IAIS”) announced last week, June 25, 2015, that it has begun a public consultation to help finalize development of the Higher Loss Absorbency (“HLA”) requirement for global systemically important insurers (“G-SIIs”). The IAIS …
Jun 22, 2015
Five federal regulatory agencies have approved a joint final Rule that modifies regulations applicable to loans secured by properties located in special flood hazard areas. Issued today, June 22, 2015, by the Federal Reserve System Board of Governors, the …
Jun 19, 2015
Above: Colodny Fass’ Claude Mueller Advises Texas Department of Insurance Has Adopted NAIC Risk-Based Capital Provisions The Texas Department of Insurance (“TDI”) advised yesterday, June 18, 2015, that it has adopted amendments to 28 Texas Administrative Code §7.402 concerning …