Michigan Property and Casualty Guaranty Association’s Annual Adjustment of an Insured’s Maximum Unearned Premium Refund
MI | The Michigan Department of Insurance and Financial Services has issued Bulletin 2024-13-INS. The Property and Casualty Guaranty Association Act (Act), MCL 500.7901 et seq., requires the Director of the Department of Insurance and Financial Services to annually adjust an insured’s maximum refund of unearned premiums that constitutes a covered claim of the Property […]
Alaska Clarifies Closing Protection Letter Requirements
AK | The Alaska Division of Insurance has issued Bulletin B 24-05 providing clarification on the filing requirements of a Closing Protection Letter (CPL) in the business of title insurance. Click here for more information.
Maryland Issues Bulletin Regarding Statutorily Required Uninsured/Underinsured Coverage for Diminution of Value Damages
MD | The Maryland Insurance Administration has issued Bulletin 24-8 to notify all insurers authorized to issue motor vehicle insurance in the state that the Administration has updated its enforcement position with respect to uninsured/underinsured (“UI/UIM”) coverage of diminution of value (“DV”) claims. Click here for more information.
Alabama Provides Guidance in Regard to Filing Deadlines for PY 2025
AL | The Alabama Department of Insurance has issued Bulletin No. 2024-01 to inform carriers of the filing deadlines for PY 2025 as they pertain to Alabama. For more information, click here.
Montana Issues 2025 Network Adequacy Provider Template
MT | The Commissioner of Securities & Insurance Office of the Montana State Auditor has issued the 2025 Network Adequacy Provider Template and instructions. Click here to view the template.
Montana Issues 2025 Network Adequacy Master Facilities Template
MT | The Commissioner of Securities & Insurance Office of the Montana State Auditor has issued the Montana Issues 2025 Network Adequacy Master Facilities Template and instructions. Click here to download the template.
Montana Issues 2025 Form, Rate, & Network Adequacy Filing Requirements Including Qualified Health Plan Certification
MT | The Office of the Montana State Auditor, Commissioner of Securities and Insurance (CSI), will continue to perform the plan management functions required for issuers choosing to participate in the Federally Facilitated Exchange (FFE) in 2025, with the exception of reviewing certain network adequacy standards. Click here to continue reading.
Michigan Issues Bulletin Regarding Maximum Amount of Cemetery or Funeral Predeath Assignment Under the Insurance Code
MI | The Michigan Department of Insurance and Financial Services (DIFS) has issued Bulletin 2024-10-INS, superseding Bulletin 2023-04-INS. This bulletin announces the new cemetery or funeral maximum assignment value, effective June 1, 2024 through May 31, 2025, is $13,460. Click here for more information.
Vermont Revises Bulletin Concerning Marketing Medicare Part D and Medicare Advantage Plans
VT | The Vermont Department of Financial Regulation has revised and reissued Insurance Bulletin No. 151. This bulletin references the most current version of the Med Supp minimum standards rule and reminds brokers and producers to ‘make reasonable efforts to determine the appropriateness of a recommended purchase or replacement. Click here for more information.
Virginia Issues Administrative Order Regarding Private Passenger Automobile Insurance
VA | The Virginia State Corporation Commission Bureau of Insurance has issued Administrative Order No. 12184. Insurance Services Office, Inc., filed with and requested approval of form for adoption as standard automobile form for use by all insurers writing motor vehicle insurance in Virginia, pursuant to § 38.2-2218 of the Code of Virginia. Click here […]