New York Issues Circular Letter Encouraging Insurers to Offer Loss Mitigation Tools and Services to Insureds
NY | The New York Department of Financial Services has issued Circular Letter No. 3 (2024). The purpose of this Circular Letter is to encourage all insurers authorized to write property/casualty insurance in New York to offer loss mitigation tools and services to insureds for free or a reduced fee, such as smart water monitor […]
The Surplus Line Association of Idaho Announces White List Update
ID | The Surplus Line Association of Idaho has issued a Bulletin announcing new additions and a name change to its White List. Click here for more information.
ELANY Announces Its Member Appreciation Day
NY | The Excess Line Association of New York has announced that its Member Appreciation Day will be held at City Field on Tuesday, June 25, 2024. For more information, click here.
Minnesota Instructions for 2024 Semi-Annual Stamping Fee Report
MN | The Surplus Lines Association of Minnesota has issued instructions for filing the 2024 semiannual stamping fee report. Click here for more information.
Kentucky Issues Interpretation of KRS 304.20-040(4)(c) & KRS 304.20-340(7) Regarding Non-Renewal Notice
KY | The Kentucky Department of Insurance has issued Advisory Opinion 2024-01 to clarify its interpretation of KRS 304.20-340. Pursuant to KRS 304.20-40(4)(c) & KRS 304.20-340(7), insurers shall not decline to insure, nor terminate any insured’s coverage for automobile insurance or property or casualty insurance, respectively, for losses immediately resulting from natural causes that arose […]
California Announces Company Addition to the LASLI
CA | The Surplus Line Association of California has issued Bulletin #1477 announcing the addition of Everspan Indemnity Insurance Company (Arizona) to its List of Approved Surplus Line Insurers (LASLI). Click here for more information.
Illinois Health Insurance Data Call Due June 4, 2024
IL | The Illinois Department of Insurance is working in conjunction with the Department of Healthcare and Family Services and each Department’s respective consultant, Oliver Wyman and Milliman, to collect data from companies that offered coverage in the Individual market in Illinois in 2023. As noted in CBs 2023-03 and 2023-13, the Department intends to […]
D.C. Issues Bulletin Regarding the Use of Artificial Intelligence Systems in Insurance
DC | The D.C. Department of Insurance, Securities and Banking has issued Bulletin 24-IB-002-05/21. This bulletin sets forth the Department’s expectations as to how Insurers will govern the development/acquisition and use of certain AI technologies, including the AI Systems described herein. This bulletin also advises Insurers of the type of information and documentation that the […]
Georgia Announces Extension of Deadline for Reinsurance Claims Submission
GA | The Georgia Office of Commissioner of Insurance and Safety Fire (“OCI”) has issued Bulletin 24-EX-8. Due to the previously reported cyber-attack on Change Healthcare and the subsequent delays in processing of claims for insurers, OCI has extended the deadline to submit claims to the reinsurance pool until June 17, 2024. Click here for […]
New Jersey Issues Bulletin Regarding Disclosure Requests for Private Passenger Automobile Policy Limits
NJ | The New Jersey Department of Banking and Insurance has issued Bulletin No. 24-06. The purpose of this Bulletin is to remind insurers transacting automobile insurance who issue private passenger automobile policies to comply with N.J.S.A. 39:6A-13.2a, which requires automobile insurers to disclose policy limits upon request by an attorney under certain circumstances. Click […]