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New York DFS Issues Circular Letter on Disability Income Insurance Policies

NY| Circular Letter No. 1 (2025) from the New York Department of Financial Services provides guidance on government benefit offset provisions in disability income insurance policies, including: Social Security Disability Income, Workers’ Compensation, Employers’ Liability, and Occupational Disease Law Benefit Offset Provisions in Individual, Group, and Blanket Disability Income Insurance Policies . It clarifies that […]

North Carolina Announces Semi-Annual Consent to Rate Data Call for Insurers Covering Motor Vehicle and Homeowners Policies

NC| Bulletin 25-B-04 from the North Carolina Department of Insurance (dated February 18, 2025) informs all property and casualty insurers writing nonfleet private passenger motor vehicle physical damage and homeowners insurance in North Carolina about the semi-annual Consent to Rate (CTR) data collection requirement for the period July 1, 2024, through December 31, 2024. Only […]

California Issues Notice on Additional Living Expense Coverage for Wildfire Victims

CA| The California Insurance Commissioner issued a Notice on February 14, 2025, addressing the ongoing concerns related to the 2025 Los Angeles Wildfires, specifically the Palisades and Eaton Fires. It emphasizes the importance of continued Additional Living Expenses (ALE) coverage for affected policyholders whose homes are deemed uninhabitable due to health and safety risks associated […]

Virginia Insurance Bureau Approves Updates to Automobile Insurance Plan Forms, Effective May 2025

VA| The Virginia State Corporation Commission’s Bureau of Insurance issued Administrative Order No. 12195 on February 13, 2025, approving amendments to the Virginia Automobile Insurance Plan’s commercial manual. The changes include replacing the “Virginia Public or Livery Passenger Conveyance Exclusion” form (CA 05180318) with the updated “Virginia Public or Livery Passenger Conveyance and On-Demand Delivery […]

CO Adopts Emergency Regulation Concerning the Colorado Option Standardized Health Benefit Plans

CO| Emergency Regulation 25-E-01 outlines the Colorado Option Standardized Health Benefit Plans. This regulation establishes rules for bronze, silver, and gold standardized plans to be offered by all carriers in the individual and small group health insurance markets starting January 1, 2026. The regulation aims to comply with state and federal laws while providing guidance […]

CO Adopts Emergency Regulation on the Methodology for Calculating Premium Benefit Rate Reductions for CO Option Standardized Health Benefits Plans

CO| Emergency Regulation 25-E-02 from the Colorado Department of Regulatory Agencies, Division of Insurance establishes rules for the required premium reduction methodology for Colorado Option standardized health benefit plans to be offered by carriers in the individual and small group markets starting January 1, 2026. The regulation outlines the calculation methods for premium reductions, defines […]

Delaware Updates Two Bulletins on Roles of Adjusters and Contractors Involving Insurance Coverage for Property Damage

DE| The revisions to Bulletins No. 28 (for Producers & Adjusters), and No. 101 (for Insurers), from the Delaware Department of Insurance, dated February 13, 2025, address the roles of insurance adjusters and contractors in property damage claims. These bulletins emphasizes the importance of educating policyholders about these roles and outlines prohibited practices for licensees. […]

West Virginia Prescription Drug Rebate Law Drives Down Health Insurance Premiums

WV| IB 25-01 outlines the impact of West Virginia’s prescription drug rebate law, enacted through House Bill 2263 in 2021, on commercial health insurance rates. Effective January 1, 2022, the law requires that rebates received for prescription drugs be passed through to reduce the cost-sharing for covered individuals at the point of sale and contribute […]