Mississippi Issues Bulletins Outlining Additions & Changes to the List of Eligible Non-Admitted Insurers
MS | The Mississippi Surplus Lines Association has issued the following bulletins announcing company address changes, name changes, and additions to the List of Eligible Non-Admitted Insurers.
Washington Announces Implementation of SHB 1266
WA | The Commissioner is adopting rules to amend current rules to align with SHB 1266 (Chapter 27, Laws of 2023), which created a new section in chapter 48.02 RCW, and amended RCW 48.15.103, 48.17.170, 48,17,450, and 48.17.475. In doing so, it will clarify for insurance producers which address of record the Commissioner will utilize […]
Tennessee Fire Loss Reporting Requirements
TN | The Tennessee Department of Commerce and Insurance has issued Bulletin 23-07. The bulletin reminds all insurers transacting business in Tennessee to submit the required annual report of all fire losses on property insured in Tennessee on or before February 1, 2024. Click here for more information.
South Carolina Uninsured Motorist Distribution
SC | The South Carolina Department of Insurance has issued Bulletin 2024-01. South Carolina law provides that South Carolina drivers seeking to drive uninsured must pay $550 annually for the privilege of operating an uninsured vehicle on South Carolina highways or a $300 reinstatement fee. These fees are deposited into the Uninsured Motorist Fund to […]
ELANY Announces Changes to Its List of E&S Insurers
NY | The Excess Line Association of New York (“ELANY”) has issued Bulletin No. 2023-22. This Bulletin announces two new additions to its List of E&S Insurers: Click here for more information.
Michigan BIDCO Annual Schedule of Fees
MI | The Michigan Department of Insurance and Financial Services has issued Bulletin 2023-24-BT. Section 209(1) of the Michigan BIDCO Act, MCL 487.1209(1) et seq., requires the Director annually to establish a schedule of fees sufficient to cover the cost of administering the Act. Click here for more information.
Corporate Transparency Act
The Corporate Transparency Act (“CTA”) was enacted by Congress on January 1, 2021, as part of the National Defense Authorization Act. The CTA includes significant reforms to anti-money laundering laws and is intended to help prevent and combat money laundering, terrorist financing, corruption, and tax fraud. The CTA establishes a beneficial ownership reporting requirement for […]
Colorado Issues Emergency Regulation Concerning Language Requirements for Insurance Policy Documents
CO | The Colorado Division of Insurance has issued Emergency Regulation 23-E-09, which becomes effective January 1, 2024. 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.
Tennessee Issues Bulletin Regarding Tornado Recovery
TN | On December 9, 2023, Tennessee experienced several devastating tornadoes. These events resulted in the destruction of homes and property, the displacement of Tennesseans, as well as the tragic loss of life. Therefore, licensed insurance companies in Tennessee are asked to make every reasonable effort to assist policyholders who have experienced losses as a […]
California Announces Amendment to Law Requiring Licensees to Include Their License Number on E-Mails
CA | The Surplus Line Association of California has issued Bulletin 1464. Governor Gavin Newsom signed Assembly Bill 1578 into law on September 30, 2023, and the new law takes effect January 1, 2024. The amendment specifies that the license number of an organizational licensee must appear in an email only if both (i) the […]