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Property Casualty News July 2022
Property & Casualty News
July 2022
Welcome to our latest newsletter! As a thought leader in the Insurance Industry for over 50 years we are always excited to share the latest sampling of insurance compliance related bulletins, regulations, and legislative activity. Please feel free to share this newsletter with others that may be interested. Contact Us with any questions on the items in this newsletter or with any other compliance related matter we can assist you with. Enjoy!
ADJUSTERS
Wyoming's Division of Insurance notified all non-resident adjusters and Property & Casualty insurers of licensing clarification when Designated Home State licenses are not acceptable. All non-resident adjusters licensed in Wyoming are strongly encouraged to review their resident state licensing practices and be certain they are meeting the Wyoming requirements. Renewals and applications will be delayed if the applicant's home state licensing is not acceptable. Memorandum 7-2022
CAPTIVES
Alabama revised its Captive Insurers Rule to include Captive Risk Retention Groups. Rule 482-1-138-.17.1
CLAIMS / CLAIMS ISSUES
Louisiana advised all Property & Casualty insurers and Surplus Lines insurers of the extension of the Hurricane Ida Voluntary Mediation Program until December 31, 2022. The mediation process and guidelines are included. Bulletin 2021-08 (Revised and Reissued)
CREDIT FOR REINSURANCE
Massachusetts updated its Credit for Reinsurance rule. The changes incorporate the latest revisions to the NAIC's Credit for Reinsurance Model Regulation regarding reciprocal jurisdictions. Rule 211 CMR 130.01
DISASTER / CATASTROPHIC EVENT
Texas Governor Abbott issued a disaster declaration for specific counties due to significantly low rainfall and prolonged dry conditions that continue to increase the threat of wildfire and drought conditions. Disaster Proclamation dated July 8, 2022
FILING REQUIREMENTS / PROCEDURES
Oregon's Division of Financial Regulation published updated Product Standards for several lines of property and casualty. Listing of Current Filing Forms as of July 14, 2022
FRAUD / ANTI-FRAUD
New Hampshire reminds all licensees that failure to report insurance fraud to the insurance department may subject them to administrative action, fines, or being barred from doing business in New Hampshire. Bulletin Docket INS 22-039-AB
MISCELLANEOUS
Alabama amended its regulation dealing with Custodial Agreements and the Use of Clearing Corporations by Domestic Insurance Companies. Regulation 482-1-077
Delaware passed a law that prohibits an insurer who issues or renews an insurance policy to a health care professional or health care organization from increasing premium or taking other adverse action for performing or assisting in the provision of reproductive health services that are legal in this state to an individual who is from out of state. HB 455
Michigan's Insurance Director published an update to the List of Michigan Municipalities Participating in the Fire Insurance Withholding Program. Notice INP 016 released July 1, 2022
New Jersey passed a bill dealing with reproductive health care services. It provides protection from disclosure of patient information. It exempts certain entities from written consent requirements such as a liability insurer for the defense of actions. AB 3975
New Mexico has a new web-based portal for records request submissions pursuant to the Inspection of Public Records Law. Link to the portal: https://newmexicoosi.govqa.us/WEBAPP/_rs/. Notice dated June 24, 2022
Rhode Island amended a law that relates to insurance on condominiums. A unit owner's insurance policy becomes the primary insurance policy with respect to any amount of loss covered by the association's policy but not payable under the association's policy because of the application of the deductible. HB 7526
REPORTS - DATA CALLS & OTHER REPORTS
Hawaii issued a data call to all insurers who write residential hurricane coverage in Hawaii. The data call worksheet must be submitted by September 30, 2022. Memorandum 2022-7R
SURPLUS LINES
Maryland issued a bulletin to qualified surplus lines brokers informing them of changes under SB 572 allowing reasonable policy fees on personal lines and commercial lines policies. Reports must be filed with the insurance department. Bulletin 22-09
WORKERS' COMPENSATION
Iowa's Division of Workers' Compensation adjusted the rate of mileage reimbursement effective July 1, 2022, for the following year. The per-mile rate is the rate allowed by the Internal Revenue Service for the business standard mileage rate. Notice dated June 13, 2022
Iowa's Division of Workers' Compensation published its annually adjusted maximum and minimum weekly benefit amounts. Notice dated July 1, 2022
Louisiana's Workforce Commission Office of Workers' Compensation Administration announced a change in the mileage reimbursement amount. WC Notice dated July 1, 2022
Michigan enacted legislation stating that an employer is not liable for an employee's exposure to COVID-19 if the employer was operating in compliance with all applicable laws and orders at the time of exposure. This applies to COVID-19 exposure from March 1, 2020, to July 1,2022. HB 6128
Mississippi's Workers' Compensation Commission published Notice of updates to Mileage, Weekly Maximum, and Lifetime Disability Rates. WC Notice Mileage Rates Update dated July 1, 2022
Nevada Division of Industrial Relations notifies private carriers, self-insured employers, and third-party administrators of a change to the Average Monthly Wage for fiscal year 2023. Memorandum dated July 12, 2022
Nevada's Workers' Compensation Section advises insurers, third party administrators, and interested persons of a change to the mileage reimbursement cost incurred while using a private vehicle for official state business The mileage reimbursement for an injured employee under workers' compensation is computed at the same rate. Memorandum dated July 11, 2022
New York promulgated an amendment dealing with acquisition cost charges in the durable medical equipment fee schedule published by the New York Workers' Compensation Board. 36th Amendment to Insurance Regulation 83
Oregon Workers' Compensation Division amended its rules dealing with attorney’s fees. OAR 436-001-0003+
Pennsylvania's Bureau of Workers' Compensation Healthcare Services Review Division notified Medical Fee Schedule Users of the Third Quarter Update to the Worker's Compensation Medical Fee Schedule. As COVID-19 related billing codes are available, they are added to the fee schedule. Chargemaster Distribution Date June 21, 2022
Washington's Office of Financial Management updated the Workers' Compensation Reimbursement Rates for Lodging, Meals, and Privately-Owned Vehicle Mileage. WC July 2022 Mileage Reimbursement Rates July 1, 2022
Wisconsin's Commissioner of Insurance approved an overall decrease in workers' compensation rates of 8.47%. This applies to policies effective October 1, 2022, and thereafter. Other changes are also being made. Circular Letter 3244
Newsletter
Life and Health News July 2022
Life and Health News
July 2022
Welcome to our latest newsletter! As a thought leader in the Insurance Industry for over 50 years we are always excited to share the latest sampling of insurance compliance related bulletins, regulations, and legislative activity. Please feel free to share this newsletter with others that may be interested. Contact Us with any questions on the items in this newsletter or with any other compliance related matter we can assist you with. Enjoy!
AGENT / PRODUCER LICENSING AND APPOINTMENT
New Mexico advised applicants for an Insurance Producers License of the residency requirements for obtaining a resident license in New Mexico. Bulletin 2022-009
ANNUITY DISCLOSURES
Minnesota has amended its annuity law to add "best interest" requirements as set forth in the NAIC model law. These include standards of care, disclosure, conflict of interest, and documentation when recommending an annuity. SF 4108
CREDIT FOR REINSURANCE
Montana amended a Rule pertaining to Credit for Reinsurance. Rule 6.6.3843
DEPARTMENT OF INSURANCE
Mississippi issued a bulletin providing guidance regarding changing to a perpetual insurance company license and future fee payment procedures. Bulletin 2022-3
New Hampshire reminds all entities subject to the state's insurance law of their obligation to respond to Department investigations within 10 working days. Bulletin INS-22-028-AB
DISASTER PREPAREDNESS
Louisiana amended its law dealing with the items required to be in a catastrophe response plan for an insurer and third-party administrator, and the filing of the plan with the commissioner. HB 521; R.S. 22:572
DISCRIMINATION
Louisiana enacted a new law that states a carrier writing disability income, life or long term care insurance cannot deny, cancel or refuse to issue coverage, determine the price or premium for, or vary any term or condition of the policy based solely on the individual's status as a living organ donor without any unique and material actuarial risks in accordance with sound actuarial principles or actual and reasonably anticipated and expected experience of the individual. HB 307
Minnesota prohibits a carrier writing life insurance, long term care insurance or disability insurance from declining or limiting coverage of an insured or otherwise discriminating in premium rating, offering, cancelling or any other condition based solely on an insured being a living organ or bone marrow donor and without additional actuarial risks. HF 1829
FILINGS: LIFE
New York issued Supplemental Guidance on Equity Index Products which supplements the guidance dated October 31, 2007, regarding the permissible range of variability for certain features of fixed equity index annuities. Life Bureau Filing Guidance Note dated June 1, 2022
GROUP LIFE
Louisiana enacted legislation that authorizes discretionary group life insurance as an eligible group if it meets certain requirements. HB 198
HEALTH INSURANCE - COMPREHENSIVE
CMS published a Fact Sheet which summarizes HIPAA Requirements for Electronic Health Care Transactions. HIPAA Administrative Simplification Regulations Overview dated May 2022
Delaware's Insurance Department clarifies new Regulation 1322, Requirements for Mandatory Minimum Payment Innovations in Health Insurance. Domestic and Foreign Insurers Bulletin 130
Washington's Insurance Commissioner extended two emergency orders. The Orders requiring health insurers to waive copays and deductibles for COVID-19 testing and preventing surprise billing from labs performing tests are extended to July 27, 2022. Insurers must also allow a one-time early refill for prescription drugs and suspend any prior authorization requirement for treatment or testing of COVID-19. Press Release dated June 22, 2022
Wisconsin alerts insurers to recent changes to colorectal cancer screening guidelines and their effect on the application of cost-sharing provisions to insureds between the ages of 45 and 75. This change is based on the updated United States Preventive Services Task Force (USPSTF) recommendations. Bulletin dated June 9, 2022
MISCELLANEOUS HEALTH / ACCIDENT
Federal Centers for Medicare and Medicaid Services (CMS) released Transparency in Coverage Final Rules in 2020. Effective July 1, 2022, group health plans and issuers of group or individual health insurance must post on a public website certain plan pricing information in machine-readable files. Additional requirements go into effect starting January 1, 2023, and January 1, 2024. Federal Register 85 FR 72158
IRS released new limits for Health Saving Accounts (HSAs) and High Deductible Health Plans (HDHPs) for 2023. HSA contribution limit is $3,850 for self only coverage and $7,750 for family coverage. HDHP minimum deductible increases to $1,500 for self-only coverage and $3,000 f0r family coverage. Maximum out- of-pocket is $7,500 for self only coverage and $15,000 for family coverage. Revenue Procedure 2022-24
MISCELLANEOUS LIFE / ANNUITY
South Carolina allows an insurer to rescind a life insurance policy by mutual agreement within the two year contestability period based on false statements in the application or upon proving fraud or material misrepresentation by the insured. Certain notices must be given and processes followed. HB 4220
PHARMACY BENEFIT MANAGERS
Oklahoma SB 737 requires disclosure and reporting requirements by a Pharmacy Benefit Manager (PBM). PBMs must disclose to insurers, self-funded employers the existence of aggregate prescription drug discounts, rebates and audit recoupments and other items. PBMs must provide the insurance commissioner with quarterly reports of certain data pertaining to pharmaceutical manufacturer and provider contracts, plan utilization data, pricing data, pharmacy utilization data and pharmacy pricing data. Bulletin 5-2022
PRENEED CONTRACTS
Colorado continued its preneed funeral contract law scheduled for repeal to September 1, 2029. It also added a section dealing with the disposition of unclaimed preneed funeral contracts and the unclaimed property trust fund. Another change makes proof of net worth or surety bond requirements subject to a rule established by the Insurance Commissioner. HB 1228
REGULATORY REPORTING REQUIREMENTS
Arkansas requires health insurers and health maintenance organizations in the fully insured market to file a written report on or before January 1 of each year. The report must describe the savings derived from the receipt of pharmaceutical manufacturer rebates by health benefit plans and explain how the rebates are applied to reduce cost sharing requirements for consumers with prescription drug benefits. Bulletin 9-2022
REPORTS - DATA CALLS & OTHER REPORTS
New Mexico has issued a data call to major medical fully insured health insurance carriers to report information regarding prior authorizations. This call also applies to Medicaid managed care organizations and heath care purchasing act plan administrators. The information is due by August 15, 2022. Bulletin 2022-11
RESERVE VALUATION
Idaho's Insurance Commissioner issued a bulletin clarifying the reporting of reserve financing transactions, specific to reinsurance involving term life or universal life with secondary guarantees business, and the applicability of certain actuarial guidelines set forth in the NAIC Accounting Practices and Procedures Manual and Evaluation Manual. Bulletin 22-06
TRADE PRACTICES
Oklahoma issued a bulletin providing information to issuers of health benefit plans regarding HB 3495. It is an unfair trade practice to request a refund from claimants more than 12 months (previous law was 24 months) after the claim was paid and from a health care provider more than 18 months after the claim is paid. Bulletin 6-2-2022
Newsletter
Property Casualty News June 2022
Property & Casualty News
June 2022
Welcome to our latest newsletter! As a thought leader in the Insurance Industry for over 50 years we are always excited to share the latest sampling of insurance compliance related bulletins, regulations, and legislative activity. Please feel free to share this newsletter with others that may be interested. Contact Us with any questions on the items in this newsletter or with any other compliance related matter we can assist you with. Enjoy!
AGENT / PRODUCER CONTINUING EDUCATION
South Carolina passed a law relating to continuing education requirements for licensed insurance producers. The amended law now provides an exemption to continuing education requirements for insurance producers who have 25 years or more of licensure and are 65 years of age or older. SB 158
AGENT / PRODUCER LICENSING AND APPOINTMENT
Louisiana amended its producer licensing law and removed certain prelicensing program requirements. HB 545
AUTOMOBILE INSURANCE
Kentucky's Insurance Department issued an Advisory Opinion regarding the interpretation of KRS 304.39-060(6) relating to the frequency an insurer must inform the insured in writing of their right to reject the limitations on their tort rights. Advisory Opinion 2022-002
Maryland amended requirements for the Maryland Automobile Insurance Fund (MAIF) to accept premiums on an installment basis for motor vehicle liability insurance policies. SB 278
New Jersey passed a law allowing the use of a pedicab and provides that the owner of the pedicab must maintain a general liability insurance policy in a minimum amount of $500,000 of coverage per accident. AB 462
COMMERCIAL LINES INSURANCE
Louisiana changed the manner in which a commercial insurance deductible is applied to named storm, hurricane, wind, and hail damage. SB 168
CREDIT FOR REINSURANCE
Connecticut adopted the most recent version of the NAIC Model Regulation. Regulation 38a-88-1 through 12
New Mexico replaced its Reinsurance rule to implement the Credit for Reinsurance Act enacted as SB 150. The new rule includes requirements for reciprocal jurisdictions and reinsurance in general. Rule 13.2.8
Oklahoma revised its reinsurance regulation to adopt the NAIC Credit for Reinsurance Model Regulation. Regulation 365:25-7-65
DEPARTMENT OF INSURANCE
New Hampshire's Insurance Department reminds insurance companies, agencies, and individuals transacting insurance business to respond within ten working days to a request for information or documents made by the Department. Anyone not responding in a timely manner may be fined and/or barred from doing business in New Hampshire. Docket: INS 22-028-AB
DISASTER / CATASTROPHIC EVENT
New Mexico reminds insurance companies of payment of residential property loss claims requirements following the wildfires in certain counties. Policies covering residential property are statutorily required to provide coverage for the cost to repair or replace damaged or destroyed property without any deduction for depreciation. Even though policy forms that provide for less than full replacement value may have been approved, the statutory requirements must be followed in claim payment. Bulletin 2022-010
GUARANTY ASSOCIATION
Michigan's Insurance Director published the annual adjustment of an insured's maximum unearned premium refund under the Michigan Property and Casualty Guaranty Association. Bulletin 2022-12-INS
PERSONAL LINES INSURANCE
Arizona enacted a law dealing with homeowner and renter's insurance and the breed of a dog. The breed of a dog cannot be the sole factor considered or used for underwriting or actuarial processes for determining risk, liability, or potential losses under a policy of insurance, questionnaire or survey or other means of gathering information on ownership or possession of a dog on the premises. HB 2323
Colorado passed a law concerning homeowners insurance coverage for insured losses incurred as a result of a declared fire disaster. Minimum requirements are set forth. HB 1111
Illinois reminds carriers writing homeowners coverage that an insured must be given at least 90 days to repair property that is capable of being rehabilitated before a policy cancellation is allowed. Bulletin 2022-10
Louisiana enacted a new law that deals with the adjustment of claims and adjuster communications for personal residential and commercial residential claims arising out of an emergency or disaster. SB 198
Oklahoma amended its Unfair Claims Settlement Practices law to state: "Any policy that specifies a time limit covering damage to a roof due to wind or hail must allow the filing of claims after the first anniversary but no later than 24 months after the date of the loss, if the damage is not evident without inspection." HB 3495
REPORTS - DATA CALLS & OTHER REPORTS
Florida's Office of Insurance Regulation (OIR) posted the 2022 Catastrophe Reporting Form (CRF) for collecting claims and other relevant information from insurance companies following a natural disaster causing catastrophic damage in Florida. OIR Notice dated June 1, 2022
SURPLUS LINES
Maryland increased the policy fee a surplus lines broker may charge on a policy issued by a surplus lines insurer by raising the fee cap to $200 on each personal lines policy and $500 or 7% of the policy's premium, whichever is greater, on each commercial lines policy. SB 572
TRADE PRACTICES
Connecticut passed a law regarding value-added products or services and prohibited insurance practices. It adopted the NAIC's amendments to the NAIC Model Unfair Trade Practices Act. HB 5388
WORKERS' COMPENSATION
Alabama's Workers Compensation Division gives notice of the state's average weekly wage and maximum workers' compensation payable for injuries occurring on and after July 1, 2022. WC Notice dated May 31, 2022
Arizona's Industrial Commissioner published the average monthly wage statutory maximum information and the maximum wage for injuries sustained on or after January 1, 2023. WC Notice dated May 27, 2022
Arkansas’ Workers' Compensation Commission published the updated mileage reimbursement rates for miles driven to and from medical providers. AWCC Advisory 89-2 Update May 19, 2022
Connecticut's Workers' Compensation Commission (WCC) published revisions to Form 30C Notice of Claim for Compensation, and Form 30D Dependents' Notice of Claim. WCC Memorandum 2022-04 dated June 3, 2022
Massachusetts' Workers' Compensation Rating and Inspection Bureau published Guidelines for Workers' Compensation Rate Deviation Filings to be effective on or after July 1, 2022. Circular Letter 2401
The Texas Department of Insurance, Division of Workers' Compensation (DWC), again extended its mandatory data call for certain information related to COVID-19 injuries reported on or after December 1, 2019. The Department of Workers' Compensation is extending the data call from June 2022 through December 31, 2022. Workers' Compensation Letter dated June 8, 2022
The Texas Department of Insurance, Division of Workers' Compensation notifies Workers' Compensation System Participants of the approval of the Return to Work Plan-Based Audit. All medical quality reviews initiated on or after January 1, 2022, will follow the approved Medical Quality Review Process in effect. The Process and Plan-Based Audit are posted on the TDI website. Workers' Compensation Letter dated June 6. 2022
Newsletter
Life and Health News June 2022
Life and Health News
June 2022
Welcome to our latest newsletter! As a thought leader in the Insurance Industry for over 50 years we are always excited to share the latest sampling of insurance compliance related bulletins, regulations, and legislative activity. Please feel free to share this newsletter with others that may be interested. Contact Us with any questions on the items in this newsletter or with any other compliance related matter we can assist you with. Enjoy!
ADVERTISING / SALES & MARKETING
Oklahoma passed the Telephone Solicitation Act of 2022 prohibiting certain telephone sales calls without the prior written consent of the called party. Other requirements and prohibitions are included. HB 3168
Utah amended its Telephone and Facsimile Solicitation Law to prohibit a person from making a cellular phone solicitation without prior consent, amends prohibited provisions and makes other changes. HB 217
AFFORDABLE CARE ACT
Arkansas replaced a previously issued bulletin dealing with 2023 plan year requirements for certification of qualified health plans, stand-alone dental plans, and requirements for ACA Compliant, Off-Marketplace Health Plan Submissions. Bulletin 6A-2022
Delaware's Insurance Department gives guidance to insurers, managed care organization and health service corporations that issue individual and small/large group health insurance policies in Delaware regarding the completion of the 2022 Affordability Standards Data Request template under Regulation 1322. Bulletin 129
AGENT / PRODUCER COMPENSATION
Nebraska added sections from the NAIC Unfair Trade Practices Act dealing with modernizing their anti-rebate law. LB 863
AGENT / PRODUCER CONTINUING EDUCATION
South Carolina now allows a producer with at least 25 years of licensure and age 65 or older to be exempt from continuing education requirements. Bulletin 2022-04
AGENT / PRODUCER LICENSING AND APPOINTMENT
Arkansas issued a bulletin to outline the 2022 company appointment renewal requirements for producers. AID Bulletin 08-2022
AUTISM SPECTRUM DISORDERS
Virginia provided guidance to health carriers regarding treatment for autism spectrum disorder, an essential health benefit. Administrative Letter 2022-02
CAPTIVES
Oklahoma amended its Captive Insurance Company Law. SB 1242
CLAIMS / CLAIMS ISSUES
Texas amended its rule dealing with reporting and intercepting of insurance claims for child support enforcement. 1 TAC 55.601
CORPORATE GOVERNANCE
Iowa enacted legislation to allow corporations to use electronic mail and other electronic transmissions to communicate with shareholders unless the shareholder previously notified the corporation it objects to receiving electronic communications. HF 2469
CREDIT FOR REINSURANCE
Connecticut now allows domestic insurers to receive credit for reinsurance ceded to insurers in a reciprocal jurisdiction. RCSA 38a-88-1 through 12
DISASTER / CATASTROPHIC EVENT
Colorado passed an emergency regulation that: (1) requires carriers to provide access to COVID-19 vaccines without cost-sharing during the state's COVID-19 recovery, and (2) sets COVID-19 vaccine administration reimbursement requirements. Emergency Regulation 22-E-12
ELECTRONIC TRANSACTIONS
Iowa passed a law that allows a group health plan sponsor or policyholder to consent to notices and documents delivered electronically. For the consent to be effective, the sponsor or policyholder must follow a specific set of requirements for each covered employee. HF 2330
FILING REQUIREMENTS / PROCEDURES
South Carolina has withdrawn from the Interstate Insurance Product Regulation Compact. Guidance is given on current filings pending with the Compact. Bulletin 2022-03
FINANCIAL REGULATION
Idaho issued a bulletin concerning the use of the Revised Accounting Practices and Procedures Manual and Valuation Manual of the NAIC. Bulletin 22-05
HEALTH INSURANCE - COMPREHENSIVE
Arizona added a provision requiring health care insurers to provide coverage for biomarker testing. HB 2144
Colorado provides guidance to carriers that all health benefit plans subject to 10-16-154 CRS are required to include cost-sharing for nonpharmacological treatment, in a situation where an opioid might be prescribed. It cannot exceed the cost sharing amount applicable to a primary care visit for non-preventive services for at least 6 physical therapy visits, 6 occupational visits, 6 chiropractic visits and 6 acupuncture visits per year. Bulletin B-4.124
Maine amended Standards for Independent Dispute Resolution of Emergency Medical Service Bills. Chapter 365
Maine amended the current law for coverage of prosthetic devices to clarify that coverage must be provided by health insurance carriers for the prosthetic device determined by the insured's provider to adequately meet the recreational and medical needs of an insured. HP 741
HOLDING COMPANIES
New Hampshire updated its Holding Company law to incorporate receiverships and group capital calculation for credit for reinsurance. HB 1558
PRE-NEED CONTRACTS
Tennessee authorized licensed funeral directors to sell pre-need funeral contracts and prearrangement insurance policies without registering with the insurance commissioner. HB 2103/SB 2570
STRUCTURED SETTLEMENTS
Minnesota made several amendments to its structured settlement law. HF 3768/SF 3636
UTILIZATION REVIEW - HEALTH CARE
Idaho adds a rule to set forth uniform requirements to be followed by health carriers and independent review organizations in implementing external review procedures. Rule 18.04.01
Iowa passed a law relating to reimbursement for health care services provided after receipt of a prior authorization. This law prohibits a utilization review organization from revoking or imposing a limitation on a prior authorization after the date the health care provider provides the service. HF 2399
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