ELANY Issues Bulletin Regarding Submission and Processing of Extension Endorsements
NY| The Excess Line Association of New York (“ELANY”) has issued Bulletin 2024-27. In Bulletin 2021-09, ELANY provided guidance regarding the submission of premium bearing endorsements. This included a limitation on the use of extension endorsements, which cannot be used to annualize premium on a multiyear policy since the excess line tax is payable in […]
ELANY Announces Change to List of E&S Insurers in Bulletin 2024-26
NY| The Excess Line Association of New York (ELANY) issued Bulletin 2024-26 announcing the addition of Richmond National Insurance Company, effective December 10, 2024. Click here to read full ELANY Bulletin 2024-26
ELANY Announces Changes to its List of E&S Insurers
NY | The Excess Line Association of New York (“ELANY”) has issued Bulletin 2024-26. The Bulletin announces the addition of Richmond National Insurance Company to its list of E&S Insurers. Click here to continue reading.
Oklahoma Issues Notice that Licensing Exam and Study Manuals Are Now Available in Spanish
OK | Beginning January 1, 2025, the Oklahoma Insurance Department will offer all Insurance Producer and Adjuster licensing exams, including the Kaplan Financial exam study manuals, in Spanish. Click here for more information.
Vermont Implements Act 111: Transforming Health Insurance with New Rules on Prior Authorization, Payment Policies, Claims Editing, and Step Therapy
VT| The Vermont Insurance Bulletin No. 234 outlines the implementation of Vermont’s Act 111 of 2024, which introduces significant changes to health insurance regulations, focusing on prior authorization, payment policies, claims editing, and step therapy protocols. Key Points: Click here to read VT Insurance Bulletin No. 234
Alaska Insurance Data Security Law
AK | The Alaska Division of Insurance has issued Bulletin B 24-11. On August 29, 2024, Alaska Senate Bill (SB) 134 (Chapter 39, SLA 24) relating to insurance data security (Act) and amending Alaska Statute (AS) 21.23 was enacted. Under AS 21.23.240, the Act establishes standards for data security as well as investigation and notification […]
Wisconsin Issues Bulletin Regarding Agent Terminations for Cause
WI | Under Wis. Stat. § 628.11, insurers must report all agent appointments and terminations to the commissioner at intervals established by rule. Per Wis. Admin. Code § Ins 6.57(2), insurers must submit notice of agent terminations within 30 calendar days of the termination date in a manner prescribed by the commissioner. To meet these […]
Vermont Issues Insurance Bulletin 233: Mandatory Reporting for 2024 Flood and Rain Event Claims
VT| The Vermont Department of Financial Regulation (DFR) issued Insurance Bulletin No. 233 to mandate property and casualty insurers, including surplus lines carriers, to report claims data related to the June 22–September 1, 2024, flooding and rain events in Vermont. This data call aims to assess the impact of these disasters and ensure compliance with […]
Indiana Updates Credit Insurance Rates: Life Premiums Rise 32.5%, Accident and Health Drop 6.1%
IN| The Indiana Department of Insurance issued Bulletin 277 to update credit life and accident and health insurance rates based on a triennial review of loss ratios and discount rates, as required by state regulations. Key updates: Click here to see IN Bulletin 277
ELANY Issues Reminder to E&S Insurers Regarding the Minimum Surplus Requirement Increase for Eligible Excess Line Insurers
NY | The Excess Line Association of New York (“ELANY”) has issued Bulletin No. 2024-25. Effective January 1, 2025, all foreign E&S insurers writing business in New York are required to maintain a minimum surplus to policyholders of $49,000,000. Click here to continue reading.