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Oklahoma Issues Commercial Modernization Order

OK | On October 26, 2022, the Commissioner of the Oklahoma Insurance Department issued an order exempting certain types of insurance from the form filing and approval requirements and from the rate filing and review requirements. Oklahoma law allows the Commissioner by order to exempt from the filing requirements any insurance document or form which […]

Pennsylvania Announces New Electronic Services for Corporate Specialty Tax Account Holders

PA | The Department of Revenue will implement a new electronic system to file business taxes within the Commonwealth of Pennsylvania. The online filing and payment options for most of the Corporate Specialty Tax including the RCT-123 Tax Report will be available on myPATH, the Department of Revenues’ e-services portal.These options will be available starting […]

California SLA Announces Stamping Fee Reduction

CA | The California Surplus Line Association today announced a decrease in its stamping fee from .25% to .18%. The new fee takes effect on January 1, 2023. Click here for more information or here to watch a 2-minute video with all the important details.

Illinois Health Insurance Data Call

IL | Oliver Wyman is working with the Illinois Department of Insurance to collect data for a study as required per Public Act 102-0900 (the Health Insurance Coverage Premium Misalignment Study Act). Companies who have offered, or will be offering, coverage in the individual market in Illinois in 2019, 2020, 2021, 2022, or 2023 are […]

New Mexico Addresses Automatic Rate Escalations

NM | The New Mexico Office of Superintendent of Insurance today issued Bulletin 2022-020. The bulletin reminds Property & Casualty insurers and advisory organizations of the rules governing the use of automatic rate escalations. Click here to read the bulletin for additional information.

New Mexico Shares Automatic Rate Escalations

NM | In New Mexico, property and casualty insurance rates, like all other rates, “shall not beexcessive, inadequate, or unfairly discriminatory, nor shall an insurer charge any rate that, ifcontinued, will have or tend to have the effect of destroying competition or creating a monopoly.” Click here for more information.

Michigan Issues September PRIRA Cases

MI | The Michigan Department of Insurance and Financial Services issued a number of new PRIRA cases in the month of September 2022.   Click here to review the cases in detail.