The Maryland Insurance Administration (“MIA”) announced today, July 24, 2013, that it has issued its first administrative orders under newly granted authority to pursue civil cases of insurance fraud....
Category: National News
National Association of Insurance Commissioners (NAIC) Summer 2013 Annual Meeting Preview–August 24-27
July 19, 2013
Category NAIC
The National Association of Insurance Commissioners (“NAIC”) will hold its Summer 2013 National Meeting on August 24-27 in Indianapolis, Indiana. To view the conference Web page, which includes a complete...
NAIC Financial Condition Committee Contemplates Captive Transactions Review Board
July 19, 2013
Category Financial Condition Committee
During a July 17, 2013 meeting of the National Association of Insurance Commissioners’ (“NAIC”) Financial Condition Committee, regulators reviewed the draft “White Paper on Captives and Special...
Texas Department of Insurance Holds Informal Meeting On Rulemaking For New Captives Bill
July 17, 2013
The Texas Department of Insurance (“TDI”) held a Stakeholder Meeting on July 12, 2013 to discuss rulemaking for the recently enacted Senate Bill 734, which relates to the licensing of captive insurance...
Federal Data Collection Efforts Ongoing for COASTAL Act Post-Storm Wind/Water Loss Model Due December 28, 2013
July 16, 2013
Pursuant to the Consumer Option for an Alternative System to Allocate Losses Act of 2012 (“COASTAL Act”), the National Oceanic and Atmospheric Administration (“NOAA”), in consultation with other...
National Conference of Insurance Legislators 2013 Summer Meeting Includes Action On Terrorism Risk Insurance, Unclaimed Property
July 16, 2013
Category NCOIL
At the four-day National Conference of Insurance Legislators’ (“NCOIL”) Summer Meeting in Philadelphia that concluded on July 14, 2013, legislators debated dozens of key insurance-related...
Delaware Form Filing, Rate Changes and Deviation Fees Increase Today, Insurance Department Advises
July 15, 2013
In Bulletin No. 35 issued today, July 15, 2013, the Delaware Department of Insurance (“DDI”) advised all insurers doing business the state that both the “rate changes or deviations” fee [18...
Arkansas Insurance Department Cautions on Depreciation of Labor in Actual Cash Value Insurance Claims for Structural Loss
July 11, 2013
In Bulletin 13-2013 issued July 5, 2013, the Arkansas Insurance Department (“AID”) seeks to clarify its position on the depreciation of labor in relation to what items are eligible for depreciation in an...
NAIC Reinsurance Task Force Hears Updates on Draft of Process for Developing and Maintaining List of Qualified Jurisdictions
June 20, 2013
Category NAIC
During a meeting of the National Association of Insurance Commissioners (“NAIC”) Reinsurance Task Force (“Task Force”) on June 18, 2013, members were updated on ongoing revisions to a draft...
The Financial Stability Oversight Council met yesterday, June 3, 2013, on whether to designate AIG and Prudential as non-bank systemically important financial institutions (SIFIs) pursuant to the Dodd-Frank Act of...