DFS Updates Requirements for Excess Lines Workplace Violence/Active Shooter Insurance
NY | The Excess Line Association of New York (ELANY) today issued Bulletin No. 2023-04. It explains the current requirements for excess line workplace violence/active shooter insurance policies. The New York State Department of Financial Services (DFS) has advised ELANY to suspend any excess line workplace violence/active shooter insurance policy or transaction that does not […]
Guam Publishes Lists of Continuing Education Courses for 2023
GU | The Guam Department of Revenue and Taxation today published its lists of approved continuing education courses. Click on the links below to access each list.
Pennsylvania Publishes Surplus Lines Insurers and Reinsurers Lists
PA | The Pennsylvania Insurance Department recently published its updated Eligible Surplus Lines Insurers and Qualified Unlicensed Reinsurers Lists. Both lists are effective as of January 14, 2023. Click on the links below to review each list:
California Offers Guidance on Flood Coverage
CA | The Office of the California Insurance Commissioner today issued Bulletin 1442. It provides guidance for insurers providing residential and commercial property insurance regarding coverage of flood, mudslide, and earth movement claims. The bulletin also references the Commissioner’s notice of January 4, 2023, about this topic. Click here to read the bulletin for more […]
Oregon Announces Two Administrative Orders
OR | The Oregon Division of Financial Regulation today announced two new rulemakings. Click on the links below to read the administrative orders for further details.
Oregon Announces ID 10-2022
OR | The Oregon Division of Financial Regulation today announced ID 10-2022. This permanent administrative order establishes uniform standards for term and universal life insurance reserve financing agreements. The rules are effective as of January 1, 2023. Click here to read the order for additional details.
California SLA Shares Commissioner’s Guidance
CA | The Surplus Line Association of California today issued Bulletin #1442. The bulletin shares guidance from the state’s insurance commissioner regarding coverage of flood, mudslide, and earth movement claims in the wake of wildfires. Click here to read the bulletin.
Idaho Updates Rate of Interest on Deferred Payment of Cash Surrendered Benefits
ID | The Idaho Department of Insurance today issued Bulletin No. 23-02. It updates the minimum interest rate insurers must pay on deferred payment of cash surrender values of life insurance policies to 7.375%. This rate is effective from July 1, 2022, through June 30, 2023. Click here to read the bulletin for additional information.
Michigan Adjusts Documentary Preparation Fee
MI | The Michigan Department of Insurance and Financial Services today issued Bulletin 2023-01-CF. It updates the documentary preparation fee under the Motor Vehicle Sales Finance Act from $160 to $260. Click here to read the bulletin for additional information.
Washington Offers Guidance for Electronic Mail CommunicationsWashington Offers
WA | The Office of Insurance Commissioner today issued Technical Assistance Advisory 2023-01. It summarizes expectations for licensed individuals and entities when it comes to handling electronic mail communications sent from the OIC. Click here to read the advisory for further information.