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Michigan Department of Insurance and Financial Services Releases August 2025 Update to Fire Insurance Withholding Program List

MI| The Aug 1, 2025, Edition 182, is the Updated List of Michigan Municipalities Participating in the Fire Insurance Withholding Program. The list, published by the Michigan Department of Insurance and Financial Services, shows which cities, townships, and villages are authorized to withhold a portion of certain insurance settlements after fire or specific property losses, […]

Alabama Insurance Department Mandates All Filings Go Digital via SERFFSM, Effective Immediately

AL| The Alabama Department of Insurance Bulletin 2025-04, outlines the updated requirements for all insurance-related rate and form filings in Alabama, effective August 1, 2025. The Bulletin consolidates and replaces several prior bulletins, maintaining most historical requirements but clarifying that all filings must be submitted electronically via SERFFSM with fees paid by electronic funds transfer […]

New York Issues 2025 Maximum Reserve and Nonforfeiture Interest Rates for Life Insurance

NY| The August 1, 2025 Industry Letter, from the New York State Department of Financial Services (DFS), outlines the maximum reserve valuation and maximum life policy nonforfeiture interest rates for life insurance products in 2025, as mandated by Sections 4217, 4218, and 4221(k) of the New York Insurance Law. The document is intended for all […]

Ohio Reminds Business Entities to Make Sure Their Affiliations are Current

OH| The Ohio Department of Insurance issued the following reminder in the July Issue of the ODI Monthly Insurance Review. Compliance Reminder: Business Entities Must Ensure Affiliations Are Current System enhancements are coming soon to the Ohio Department of Insurance’s licensing platform, adding more self-service features. To avoid disruptions, insurance agencies, also referred to as […]

New Michigan Insurance Update: Higher Work Loss & Survivors’ Loss Benefits Announced for October 2025

MI| Bulletin 2025-18-INS, from the Michigan Department of Insurance and Financial Services announces the annual adjustment of the maximum work loss and survivors’ loss benefits under personal protection insurance policies, effective October 1, 2025, through September 30, 2026, raising the maximum payable to $7,201 per 30-day period to reflect cost-of-living changes. This adjustment applies only […]

New Jersey Raises Minimum Auto Insurance Limits Effective 2026

NJ| The New Jersey Department of Banking and Insurance Bulletin No. 25-06 informs all admitted and surplus lines insurers, self-insureds, and risk retention groups about impending increases to the state’s minimum auto insurance coverage requirements under P.L.2022, c.87. The increase will occur in two phases, with the final phase taking effect on January 1, 2026, […]

North Dakota Insurance Department Issues Updated Guidance on Data Security and Cyber Event Notification Requirements for Licensees

ND| North Dakota Insurance Bulletin 2025-1 establishes updated requirements for insurance licensees regarding data security and cybersecurity event reporting, effective August 1, 2025, under NDCC 26.1-02.2 and SB 2088. Licensees—including insurers, producers, TPAs, MGAs, and other entities—must implement a written Information Security Program, promptly investigate potential cybersecurity events, and notify the Insurance Commissioner within three […]