ELANY Announces Changes to its List of E&S Insurers
NY | The following company has been added to ELANY’s list of E&S Insurers:Company: Beazley Excess and Surplus Insurance Company Effective Date: March 7, 2024 The following insurer has been deleted from ELANY’s List of E&S Insurers effective January 1, 2024:Company: ProAssurance Casualty Company (NAIC 38954)*ProAssurance Casualty Company has merged with and into affiliate ProAssurance […]
Illinois Insurance Data Security Law
IL | The Illinois Department of Insurance has issued Company Bulletin 2024-10. The purpose of this Bulletin is to notify companies of new requirements for all insurance companies licensed in Illinois under Public Act 103-0142 the Illinois Insurance Data Security Law, which took effect January 1, 2024. Click here to continue reading.
Georgia Extends Renewal Periods for All Insurers
GA | The Georgia Office of Commissioner of Insurance and Safety Fire has issued Bulletin 24-EX-5. The Commissioner of Insurance identified technical issues with the GIMS platform that may have impeded the ability of certain insurers to complete their renewal processes in a timely manner. To address these challenges and ensure that all entities have […]
Connecticut Issues Notice to Insurers Seeking to Non-Renew Homeowners’ Policies Based on Roof Condition
CT | The Connecticut Insurance Department has issued a Notice to advise insurers of the Department’s position concerning the extent of roof damage needed to support underwriting action and the acceptable use of aerial imagery technology to evaluate such damage. Click here to continue reading.
Mississippi Announces Company Name Change on the List of Eligible Non-Admitted Insurers
MS | The Mississippi Surplus Lines Association has issued Bulletin 2024-05. This bulletin announces the name change of Transverse Specialty Insurance Company to MS Transverse Specialty Insurance Company on the Mississippi Insurance Department’s List of Eligible Non-Admitted (Surplus Lines) Insurers. Click here for more information.
Idaho Issues Bulletin Regarding the Use of Revised Accounting Practices and Procedures Manual and Valuation Manual of the NAIC
ID | The Idaho Department of Insurance has issued Bulletin No. 24-02 to provide guidance regarding the version of the NAIC’s Accounting Practices and Procedures Manual to be used by authorized insurers when preparing 2024 quarterly and annual financial statements filed with the Idaho Department of Insurance and the NAIC, pursuant to Idaho Code §§ […]
Idaho Issues Bulletin Regarding Rate of Interest on Deferred Payment of Cash Surrendered Benefits
ID | The Idaho Department of Insurance has issued Bulletin No 24-03. Effective July 1, 2023, insurers must pay a minimum interest rate of 10.250% on deferred payment of cash surrender values, pursuant to Idaho Code Sections 41-1927(3) and 41-1927A(3)(b). The 10.250% interest rate is computed in accordance with Idaho Code § 28-22- 104(2) and […]
Missouri Issues Bulletin Regarding the Change Healthcare Cyberattack
MO | The Missouri Department of Commerce and Insurance has issued Insurance Bulletin 24-03 to provide information to health carriers (“insurers”) and other interested parties regarding the Change Healthcare cyberattack that occurred on February 21, 2024, and whose impact remains ongoing. Click here for more information.
Rhode Island Issues Bulletin Regarding the Use of Artificial Intelligence Systems by Insurers
RI | The Rhode Island Insurance Division has issued Bulletin Number 2024-03. This bulletin is issued by the Rhode Island Department of Business Regulation’s Insurance Division (the “Department”) to remind all Insurers that hold certificates of authority to do business in the state that decisions or actions impacting consumers that are made or supported by […]
Idaho Issues Bulletin Regarding the Change Healthcare Cybersecurity Attack
ID | The Idaho Department of Insurance (DOI) is monitoring the effects of the recent cybersecurity attack on Change Healthcare that occurred on February 21, 2024. Change Healthcare is a part of UnitedHealth Group and also operates as Optum. Change Healthcare’s services are used by a substantial number of hospitals, health care providers, health care […]