New York Issues Circular Letter Concerning Affordable Housing Underwriting and Rating
NY | The New York State Department of Financial Services (“DFS”) has issued Circular Letter No. 6 to inform all insurers authorized to write property/casualty insurance in New York State, licensed insurance producers, the New York Property Insurance Underwriting Association (“NYPIUA”), and the Excess Line Association of New York that insurers, including excess line insurers, […]
Louisiana Announces Data Call Relating to Homeowners’ Insurance Policies
LA | The Louisiana Department of Insurance has issued Bulletin 2024-01. Act No. 9 of the 2024 Regular Session of the Louisiana Legislature grants all authorized property and casualty insurers, including surplus lines insurers, (collectively, insurers), the authority to cancel certain homeowners’ insurance policies subject to the three-year rule. Bulletin 2024-01 provides notification and updated […]
The Surplus Lines Association of California Issues Bulletin on Public Hearing on Export List Additions
CA| Commissioner Lara issued a notice that the 2024 Export List public hearing will take place via video conference at 10:00 a.m. Tuesday, July 16, 2024. The hearing will conclude by 5:00 p.m. or whenever all testimony has been submitted, whichever is earlier. See Bulletin 1478 for listing of requested additions, and hearing attendance information.
California Announces New 2025 Life Insurance Policies Four-Hour Course
CA | Insurance Commissioner Ricardo Lara sponsored legislation, Senate Bill 263 (Dodd, Chapter 2, Statutes of 2024) related to annuities and life insurance policies, was signed by Governor Gavin Newsom on February 29, 2024, and will take effect on January 1, 2025. This new law adds section 1749.81 to the California Insurance Code. Section 1749.81(a) […]
California Issues Notice of Export List Public Hearing
CA | The California Department of Insurance has issued a Notice of a public hearing that will take place on July 16, 2024 at 10:00 am PDT via Zoom. For more information, click here. The Surplus Line Association of California has also issued Bulletin #1478 regarding the Public Hearing.
Kentucky Issues Announcement Regarding Insurance Education Providers
KY | Effective July 1, 2024, the Kentucky Department of Insurance’s Personal Service Contract for Continuing Education/Prelicensing Services will be handled by PSI Services. Prometric will no longer accept or process education course and instructor reviews after June 21, 2024. Click here for more information.
Maine Announces Change in Accident Reporting Threshold
ME | The Maine Bureau of Insurance has issued Bulletin 479. In 2023, the statutory definition of “reportable accident” was amended to increase the level of apparent property damage requiring an accident report from $1,000 to $2,000. This means that accidents with apparent property damage of less than $2,000 are not reportable unless they result […]
Virginia Issues Administrative Order No. 12188
VA | The Virginia State Corporation Commission Bureau of Insurance has issued Administrative Order No. 12188 amending certain revisions to the commercial auto manual. Click here for more information.
New Jersey Rate Filing and Small Business Health Insurance Affordability Act
NJ | The New Jersey Department of Banking and Insurance has issued Bulletin No. 24-08 to provide guidance to small employer market carriers for the 2025 plan year. Click here for more information.
Maryland Passes Bills Pertaining to Noise Abatement Violations and How They Are Not to be Used for Insurance Purposes
MD | The Maryland Insurance Administration has issued Bulletin 24-16 to assure that all carriers authorized to write motor vehicle insurance in the State are aware of the passage of House Bill 0212 / Senate Bill 0155, which was enacted in the 2024 legislative session and will become effective on July 1, 2024. Click here […]