Pennsylvania Reminder: Surplus Lines Agents Gross Premiums Tax Report – RCT-123
PA | Each year at this time all surplus lines licensees (resident and non-resident) licensed in the Commonwealth of Pennsylvania are reminded to file and remit the collected gross premium surplus lines tax for the preceding calendar year. The surplus lines tax levied by the Commonwealth of Pennsylvania is three percent (3%) of taxable gross […]
Florida Issues Surplus Lines Statistics for 2023
FL | The Florida Surplus Lines Service Office has issued its Surplus Lines premium statistics for 2023. The total premium was $15.4 billion, which is 27.83% more than in 2022. Click here for more information.
Washington Life Insurance Disclosure Requirements
WA | The proposed rule aims to align laws and rules in Washington state due to a conflict between WAC 284-23 and RCW 48.83. Currently, life insurers can’t offer life insurance policies with riders that have accelerated benefits for long-term care insurance (LTCi). This rule also requires them to disclose this prohibition. The proposed rule […]
New York Standard Form to Designate a Representative
NY | The New York Department of Financial Services has issued Insurance Circular Letter No. 1 (2024). The purpose of this circular letter is to advise insurers that they should accept the standard form for an insured to designate a representative to assist with authorizations, complaints, grievances, and appeals as developed by the Department of […]
Colorado Language Requirements for Insurance Policy Documents
CO | The Colorado Division of Insurance has issued Emergency Regulation 23-E-09. The purpose of this emergency regulation is to provide the requirements for property and casualty insurance companies to comply with §§ 10-3-139 and 10-3-1119, C.R.S., as amended by House Bill 23-1004 (HB23-1004). Click here for more information.
Vermont Order Regarding Coding and Reimbursement for Audio-Only Telephone Services
VT | The State of Vermont Department of Financial Regulation has issued an order regarding the appropriate billing and payment codes or modifiers for audio-only telephone services, and reimbursement rates for audio-only telephone services. Click here for more information.
Washington Rule Regarding Best Interest Standard for Annuities
WA | The Insurance Commissioner is adopting rules related to the implementation of Chapter 64, Laws of 2023. HB 1120 (2023-24) concerning the best interest standard for annuity transactions passed in Washington’s 68th Legislative Session. This legislation transitions Washington from a suitability standard for annuity transactions to a best interest threshold and aligns with updates […]
Washington Consolidated Health Care Rulemaking
WA | The Commissioner is considering consolidated rulemaking due to the passage of recent health care and insurance-related legislation. These rules will ensure all affected healthcare and insurance entities understand their legal rights and obligations under the new legal framework. Click here for more information.
Idaho Issues Bulletin Regarding an Update to the White List, Annual Surplus Line Broker Premium Tax Statements & Payments, and Duplicate or Misfiled Transactions
ID | The Surplus Line Association of Idaho has issued a Bulletin covering the following: Click here for more information.
Mississippi Announces Company Withdrawal and Merger on the List of Eligible Non-Admitted Insurers
MS | The Mississippi Surplus Lines Association has issued Bulletin 2024-03. The purpose of this bulletin is to announce the withdrawal and merger of companies on the Mississippi Insurance Department’s List of Eligible Non-Admitted (Surplus Lines) Insurers. Click here for more information.