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Life and Health News May 2024
Life and Health News
May 2024
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
Maine published a bulletin notifying insurers of amendments to the Trade Practices and Fraud Chapter that prohibit the use of any advertising or marketing material that use the term "Medicare", "Medicaid" or "MaineCare" and mimics official notices or otherwise implies that it is an official document. The new sections also require additional disclosure to appear on any advertising or marketing material. Bulletin 471
AFFORDABLE CARE ACT
Colorado published a notice reminding carriers of three new regulations impacting ACA plans, including Regulation 4-2-81 establishing rules for required bronze, silver and gold standardized plans. Regulation 4-2-85 establishes rules for required premium reduction methodology. Regulation 4-2-60 is amended to provide necessary guidance on network adequacy filing procedures. Notice of Adoption 4-24-2024
ARTIFICIAL INTELLIGENCE
Illinois published a bulletin reminding companies that all existing laws and regulations, including unfair trade practices and unfair discrimination, apply to actions involving artificial intelligence systems. The bill explains new regulations requiring insurers to develop and maintain a written program for the use of artificial intelligence to avoid adverse consumer actions. Company Bulletin 2024-08
Nevada's Commissioner of Insurance issued a bulletin regarding the use of Artificial Intelligence Systems by Insurers. Bulletin 24-001
Pennsylvania issued a notice on the Use of Artificial Intelligence Systems by Insurers. Notice 2024-04
Utah created the Artificial Intelligence Policy Act under the Consumer Protection Law. Among other things, it requires a disclosure when an individual interacts with AI in an occupation that requires a state issued license. SB 149
Washington's Insurance Commissioner issued a Technical Assistance Advisory regarding the Use of Artificial Intelligence Systems in Insurance. Technical Assistance Advisory 2024-02
CAPTIVES
Iowa adopted a rule for the implementation and administration of captive companies. 191-113.1
CERTIFICATE OF AUTHORITY FILINGS
Delaware published a bulletin reminding insurers seeking to do business in the state of the department's "seasoning" requirements. No foreign company will be considered for admission until it has been transacting insurance business for three years and shown a net gain from operations at least one year prior to admission. The Department may waive these requirements. Bulletin Number 3 (Reissued)
CLAIMS / CLAIMS ISSUES
Louisiana published a directive to all health carriers. It reminds carriers of the provisions of the Network Adequacy Act and that delays caused by cybersecurity breaches may not disrupt payment for health care services. Insurers are directed to provide alternative processing options or waive certain requirements until operations are restored. Directive 223
CONFIDENTIALITY / PRIVACY
Kentucky enacted, effective 01/01/26, the Kentucky Consumer Data Protection Act. The act requires the appointment of a controller and establishes certain consumer rights relating to personal data. HB 15
CYBERSECURITY
Illinois published a bulletin notifying insurers of new requirements under the Insurance Data Security Law, which became effective 01/01/24. The bulletin explains the mandatory initial notification of a cybersecurity event and the continuing obligation to update. Beginning 04/15/25, there will be an annual certification of compliance required. Bulletin 2024-10
New Jersey, New Mexico, and Washington issued bulletins outlining its expectations for insurers in light of the Change Healthcare cyber-attack. Bulletin 24-04
Utah amended provisions in its law pertaining to cybersecurity, breach notification requirements, and authorized domain name extensions. SB 98
DEFERRAL OF CASH SURRENDER BENEFITS
Idaho issued a bulletin reminding companies that the minimum interest rate to pay on deferred payment of cash surrendered values is 10.250%. This rate will remain in effect until June 30, 2024. Bulletin 24-03
DENTAL INSURANCE
Virginia requires dental carriers that offer large employer coverage (average of at least 51 employees) to annually file an actual loss ratio report with the Insurance Department beginning in 2025. HB 1132, SB 257
DEPARTMENT OF INSURANCE
Idaho enacted legislation amending provisions relating to administrative rules. Changes include allowing the legislature to review and reject materials incorporated by reference. Amendments also require that incorporated materials must be easily accessible on the agency's website. HB 563
Iowa has adopted new regulations defining the re-organization of the insurance department. The new regulation also addresses the requirements for using the commissioner as the agent for service of process. 191-1.1
DISCLOSURE REQUIREMENTS
Virginia passed a Genetic Data Privacy law that applies to direct-to-consumer genetic testing companies. Genetic data cannot be collected, used, transferred, disclosed, or shared without certain disclosures to the consumer and the consumer's written consent. SB 1087
ELECTRONIC TRANSACTIONS
Oklahoma amended its insurance code to allow an insurer to post a policy or endorsement on its website if it does not contain personally identifiable information and meets certain requirements. HB 1505
Virginia passed a law allowing a plan sponsor of a health, dental, or vision benefit plan to agree to conduct insurance business electronically on behalf of a party enrolled in the plan. HB 595
FILING REQUIREMENTS / PROCEDURES
Alabama published a bulletin notifying carriers of the filing deadlines for Plan Year 2025 Qualified Health Plans, including the deadline for submission of individual and small group form filings, 06/12/24 and the rate filing deadline, 07/17/24. Bulletin 2024-01
Michigan published a bulletin providing updated information about the form and rate filing requirements for medical plans. Bulletin 2024-14-INS
FRAUD / ANTI-FRAUD
Delaware published a reissued bulletin regarding the Insurance Fraud Reporting Form. Insurers are reminded of the state's mandatory reporting requirements. Domestic-Foreign Bulletin 15 (Reissued)
GUARANTY ASSOCIATION
The District of Columbia updated its summary disclosure regarding the life and health insurance guaranty association. The department has removed addresses from the notice to avoid the need to update the notice when any address changes. Bulletin 04-IB-003-6/1 (Revised 03/04/24)
HEALTH INSURANCE - COMPREHENSIVE
Delaware enacted legislation requiring certain individual and group carriers to cover annual ovarian cancer screening tests for women at risk for ovarian cancer. HB 15
Delaware published a bulletin reminding health carriers that HB 60 requires service for diagnostic breast examinations and supplemental screenings be covered at least as favorably as mammogram screenings. Domestic and Foreign Insurers Bulletin 145
Mississippi enacted a law requiring health carriers, when administering a policy issued in another state covering an insured in the state of Mississippi, to offer reimbursement based on the state of issuance, under certain conditions. HB 1410
Nebraska passed a law requiring self-funded and insured health plans to not impose deductible, coinsurance, or any other cost-sharing requirements for colorectal cancer screening. LB 829
INSURER INVESTMENTS / SECURITIES
Iowa enacted HF 2405, making a number of changes in the statute governing investments made and held by life insurance companies and adding a new definition for "credit instrument". HF 2405
MEDICARE SUPPLEMENT INSURANCE
Arizona updated its regulations to adopt by reference the most recent changes to the Model Regulation to Implement the NAIC Medicare Supplement Insurance Minimum Standards. R20-6-1101
Nevada issued a notice regarding the Medicare Supplement "Birthday Rule" which contains details for carriers implementing this rule. Notice dated March 29, 2024, AB 250
Oklahoma's Insurance Commissioner advised Medicare Supplement carriers of a regulation change that requires carriers to provide new supplement policies with the same or lesser benefits to current Medicare supplement policyholders who have had no gap in coverage greater than 90 days. Notice dated February 27, 2024
Vermont's Insurance Commissioner reminds companies and producers who sell Medicare Supplement coverages that the producer must make reasonable efforts to determine the appropriateness of a recommended purchase or replacement and comply with insurance laws. Bulletin 151 (Revised)
OMNIBUS LEGISLATION
Indiana enacted numerous measures, including changes to the oversight of continuing education courses. It also removes the requirement for an alien or foreign insurer to annually file with the department a statement of its assets and liabilities. HB 1332
PHARMACY BENEFIT MANAGERS
Oregon revised its Pharmacy Benefit Manager law to require manuals and contracts to be filed with the Department of Consumer & Business Service. A PBM must also be licensed instead of just registered with the DCBS, among other items. HB 4149
Tennessee amended several rules including definition changes, appeal requirements, reporting and fees. Rule 0780-1-95-.02
TRADE PRACTICES
Maine enacted legislation requiring telephone solicitors, prior to commencing a sales call, to use the reassigned numbers database to verify that a consumer's telephone number has not been reassigned. HP 1433
Newsletter
Property & Casualty News July 2024
Property & Casualty News
July 2024
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
Rhode Island amended regulations to require licensed adjusters to complete biennial continuing education. 230-RICR-20-50-4.1
AGENT / PRODUCER LICENSING AND APPOINTMENT
Delaware enacted amendments to its code to reinstate language which will permit insurance agents to issue checks in time-sensitive situations without requiring qualification as a claim adjuster. HB 379
ARTIFICIAL INTELLIGENCE
Nebraska's Insurance Department issued guidance for insurers on the use of Artificial Intelligence in accordance with the NAIC 2020 Principles of Artificial Intelligence. Guidance Document IGD-H1
New York published its position on insurers using Artificial Intelligence Systems and External Consumer Data and Information Sources in Insurance Underwriting and Pricing. Circular Letter 7
AUTOMOBILE INSURANCE
New York amended its regulation regarding the underwriting inspection requirement for private passenger automobiles to allow an insurer to waive the right to an inspection. Insurers should submit a revised plan of operation that specifies automobiles that are subject to inspection and those for which the insurer is waiving inspection. 11 NYCRR 67.0
CANCELLATION / NON-RENEWAL / PREMIUM OR COVERAGE
Delaware adopted amendments to its code requiring that notice of cancellation for property insurance (except for nonpayment of premium) must be delivered by certified mail or USPS Intelligent Mail. SB 200
DISASTER / CATASTROPHIC EVENT
Iowa published a bulletin providing a summary of its expectations when a disaster has been declared. General expectations are outlined including, among other items, a grace period for cancellation, and claim reporting and resolution. Bulletin 2024-03
DISCLOSURE REQUIREMENTS
California adopted a bill requiring any solicitation for a consumer financial product or service to include a certain disclosure, on the front of the envelope, in no less than 16 point bold type. SB 1096
FILINGS: PROPERTY / CASUALTY
Connecticut published a bulletin to notify companies that claims-made insurance policy forms will now require a complete filing review and are removed from the list of exempted commercial lines of insurance. The bulletin includes an updated list of exempt forms. Companies are reminded that they must continue filing all commercial forms, rates and rules and use the exempt designation in the filing type field. Companies are further reminded that market conduct action will be taken on non-compliance. Bulletin PC 63-24
HOLDING COMPANIES
New York amended its Holding Company law to impose an annual group capital calculation requirement and exempt certain entities from filing it, among other revisions. 11 NYCRR 82.1
South Dakota amended its Holding Company rule concerning the group capital calculation filing. Rule 20:06:09:49 +
MARKET CONDUCT
California published a bulletin notifying all domestic insurers of the provisions of Sec 706.7 of the California Insurance Code and specifying those states which will be given "reciprocal" status. Insurance Commissioners in those jurisdictions are asked to notify California of violations by domestic insurers. Bulletin 2024-4
MISCELLANEOUS
Maryland published a bulletin listing laws enacted by the 2024 legislature. The bulletin summarizes relevant legislation and advises companies may obtain copies of specific laws at mgaleg.maryland.gov. Bulletin 24-15
MISCELLANEOUS PROPERTY / CASUALTY
Pennsylvania enacted a new pet insurance law. HB 660
PERSONAL LINES INSURANCE
New Hampshire made changes in its Travel Insurance regulation. Regulation Ins. 4703.01 +
PROPERTY INSURANCE
California published a press release detailing the next steps in the Commissioner's Sustainable Insurance Strategy to expand coverage options in areas of high wildfire risk. The goal of the department is to increase the availability of property insurance. The release included a map showing where increased insurance coverage is needed. Press Release 6-12-2024
REPORTS - DATA CALLS & OTHER REPORTS
Alabama published a bulletin announcing a data call to provide updated performance metrics for losses related to Hurricane Sally. Responses are due by August 23, 2024. All responses will be treated as confidential by law and privileged. Bulletin 2024-03
Florida published a notice providing answers to frequently asked questions about the 2024 catastrophe reporting form. The purpose of the reporting is to provide valuable data about the impact of hurricanes and other events. An email address or phone number is provided for those who have additional questions. Notice Dated 6-3-2024
Illinois published a bulletin reminding insurers that it is participating the NAIC Climate Risk Disclosure Survey. Responses for the 2023 are due August 30, 2024, and may be submitted online. Bulletin 2024-13
New Jersey's Insurance Commissioner notified licensed insurers in New Jersey who collected more than $100 million nationwide in direct written premium in 2023 that their Climate Risk Disclosure Survey is due by August 30, 2024. Bulletin 24-09
SURPLUS LINES
New Jersey notified licensed producers with Surplus Lines Authority that copies of binding authority agreements and amendments must be filed electronically as of July 11, 2024. Previously, the agreements could be filed hard copy and an acknowledgement was issued. Notice dated July 11, 2024
New Jersey's Insurance Department published an updated list of Active Surplus Lines Insurers. This list contains identification of Domestic, Foreign and Alien Surplus companies. Notice dated June 12, 2024
Pennsylvania amended its allowable surplus lines fees for the placement of a surplus lines policy in addition to a commission received from a surplus lines insurer subject to certain requirements. HB 2096
TRADE PRACTICES
North Carolina passed a law allowing certain insurance trade practices related to gifts, rebates and services offered for free or for less than fair market value. This law also places a cap on insurance referral fees paid to non-licensed persons. SB 124
Rhode Island passed an amendment making it an unfair trade practice for an insurer to refuse to honor a "direction to pay" executed by an insured or claimant indicating they wish the insurance company to directly pay the property damage benefit to the restoration company. The law contains other changes. HB 7507
UNINSURED MOTORISTS / UNDERINSURED MOTORISTS COVERAGE
Louisiana amended its uninsured motorist law to require that auto liability policies offer uninsured motorist coverage at least equal to the BI limits of the policy. SB 499
WORKERS' COMPENSATION
Alaska established a workers' compensation stay at work program. Among other changes, the presumption will be compensability for claims related to post-traumatic stress disorder. The department will require status reports on all reemployment benefits provided for the previous year. The report will be due no later than October 1 of each year. SB 147
Connecticut published notice that changes have been made to certain Workers Compensation forms. Changes include the ability to track firefighter cancer claims and the ability to collect an email address on the hearing request form. Memorandum 2024-04
Hawaii enacted law to expedite the treatment of serious injuries to the cervical or lumbar spine that could result in paralysis. The bill allows for certain medical services to be performed without a treatment plan during the first 60 days after an injury. HB 1944
Nevada Workers' Compensation Section of the Department of Business and Industry announced that the Workers' Compensation Claim Activity Report or Statement of Inactivity is due by September 2, 2024. This applies to all private carriers, self-insured employers and associations of self-insured employers. Instructions are contained in the Notice. Notice dated July 15, 2024
Nevada's Administrator of Industrial Relations adopted a new Actuarial Annuity Table used to calculate lump sum payments to permanently partially disabled insured workers. Notice dated June 14, 2024
New York updated its 'Official New York Workers' Compensation Durable Medical Equipment Fee Schedule’. Bulletin WC 046-1695
Oregon Workers' Compensation Division notified self-insured employers about the base rates and methods used for determination of premium assessment effective July 1, 2024, through June 30, 2025. Bulletin 392
Newsletter
Life and Health News January 2024
Life and Health News
January 2024
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!
ACTUARIAL
Pennsylvania's Insurance Commissioner adopted the exemption standards specified in the January 1, 2024, Edition of the NAIC Valuation Manual. Notice 2023-19
The Texas Department of Insurance adopted the NAIC 2024 Valuation Manual. The changes include: (1) actuarial reporting, including company inflation assumptions; (2) revised hedge modeling for index credit hedging; and (3) update the require timing for companies to submit mortality experience data to allow for more timely creation of industry mortality tables. 28 TAC Sec. 3.9901
AGENT / PRODUCER LICENSING AND APPOINTMENT
California issued a notice advising that the state will offer insurance licensing examinations in Spanish, Simplified Chinese, Vietnamese, and Korean beginning 01/01/2024 and Tagalog beginning 07/01/2024. Notice Dated 12/01/2023
The Virgin Islands Insurance Department announced that it implemented new insurance continuing education and pre-licensing courses and requirements. Bulletin 2023-05
Wyoming's Department of Insurance notified insurance companies of the process for agent annual appointment renewals for 2024. Memorandum 12-2023
ANNUITIES / ANNUITY CONTRACTS
Utah revised its Suitability in Annuity Transactions Rule to clarify that all recommendations by agents and insurers must be in the best interest of the consumer. Agents and carriers cannot place their financial interest ahead of the consumers' interest in making a recommendation. The rule is effective July 1, 2024. Rule R590-230-1
CAPTIVES
Iowa enacted legislation pertaining to premium taxes on captive insurance companies. The bill updates the current tax year and a schedule of rates for upcoming years. SF 549
CERTIFICATE OF AUTHORITY FILINGS
Florida adopted procedures for the application for a certificate of authority for an insurance administrator or an Independent Professional Examiners. The rule also describes annual statement requirements. FAC Rule 690-197.001
Florida adopted rules for the procedures to apply for a certificate of authority as a prepaid limited service organization or a Discount Plan Organization. The rule also includes requirements for annual reporting. FAC 690-203.020
CONFIDENTIALITY / PRIVACY
Colorado issued a bulletin to clarify the applicability of Colorado Insurance Regulation 10-1-1 to annuities and group life insurance policies. The Department's interpretation is that this regulation is limited to individual life insurance policies. Its applicability may be expanded in the future. Regulation 10-1-1 is the Governance and Risk Management Framework for Life Insurers' Use of external Consumer Data and Information Sources. Bulletin B-10.002
DISASTER / CATASTROPHIC EVENT
Tennessee's Insurance Commissioner asks carriers to assist policyholders impacted by the December 9, 2023, devasting tornadoes. Carriers are to suspend cancellation or non-renewal of policies due to non-payment of premium for at least 60 days from the date of loss, allow payment plans, suspend penalties or interest charge due to inability to submit premium, and allow exceptions for proof of loss and underwriting among other requirements. Bulletin 23-06
EXCEPTED BENEFITS
Virginia's Bureau of Insurance promulgated a Rule Governing Accident and Sickness Excepted Benefits Policies and Short Term Limited Duration Insurance. It also issued guidance regarding acceptable wellness benefits. Forms and rates must comply with the guidance by May 1, 2024. 14 VAC 5-141, Notice dated September 21, 2023
FEE SCHEDULES
Michigan published an updated annual schedule of fees including licensing, application, and examination fees. Bulletin 2023-24-BT
HEALTH INSURANCE - COMPREHENSIVE
The Federal Independent Dispute Resolution Process Guidance for Disputing Parties issued in October 2023 has been updated as of December 2023. This relates to the Federal No Surprises Act. CMS Notice dated December 15, 2023
Massachusetts adopted changes to its regulation on determining what constitutes minimum creditable coverage, effective 12/22/2023. 956 CMR 5.03
Pennsylvania's Insurance Department reminds health insurance carriers of the requirement to file prior authorization and appeal process forms and that enforcement discretion will be used beginning on January 1, 2024. Notice 2023-18
HEALTH INSURANCE / HEALTH RATES
Colorado adopted regulations establishing procedures to be followed when individual and small group Colorado Option Standardized Plans fail to meet the premium rate reduction/network adequacy requirements. The procedures include requirements for notifications and public hearings, among other things. Amended Regulation 4-2-92
MISCELLANEOUS
Alaska revoked previous Bulletin B23-06, addressing staffing shortages, due to an improvement in pharmacy staffing. Bulletin B 23-07
Arkansas published a bulletin, giving guidance on what constitutes a "business day" in the Prior Authorization Transparency Act. For nonurgent services, two business days will be allowed. For urgent services, notice shall be given in one day. Bulletin 20-2023
Delaware's Insurance Department reminds all health insurance carriers of the assessment due under the Health Insurance Individual Market Stabilization Reinsurance Program. The fee is due by March 1, 2024. The assessment must be paid by any health insurance carrier that provides health insurance in the state. Bulletin 113
The Federal Department of the Treasury extended the report deadline for certain Beneficial Ownership Information reports required under the Financial Crimes Enforcement Network (FINCen). Entities created or registered in 2024 have 90 days rather than 30 days to report their creation or registration in order to have additional time to understand the new reporting obligation. 31 CFR Part 1010
New Mexico's Superintendent of Insurance announced that the Department's website is now fully functional. The Department's systems were temporarily disabled in response to a cyber security event in September 2023. Notice dated December 21, 2023
PHARMACY BENEFIT MANAGERS
Michigan published a bulletin notifying insurers of the procedures to be used by the department of insurance to license and regulate pharmacy benefit managers. Bulletin 2023-23-INS
New Mexico announced that the process for applying for and renewing a pharmacy benefit manager license has changed. New and renewal applications will no longer be filed in SERFF. They will be handled through the Company Licensing Bureau. Bulletin 2023-35
PREMIUM TAX
New Hampshire's Insurance Department published 2023 Premium Tax Instructions for Life, Accident and Health Insurance Companies. Notice dated November 27, 2023
REPORTS - ANNUAL / QUARTERLY STATEMENT
Utah's Insurance Department advised Fraternal, Health, and Life carriers that report accident and health business that they must file an additional report with their annual filing. This report is the Utah Accident & Health Survey and is updated for 2024. It is due April 1, 2024. Notice dated December 12, 2023
TRADE PRACTICES
Alabama adopted amendments to its rebating limitations, including raising the limit of allowable value from $15 to $100 (non-cash), per family. 482-1-088
Newsletter
Property & Casualty News August 2024
Property & Casualty News
August 2024
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
Maryland published a bulletin notifying all public adjusters of new laws, which become effective October 1, 2024, including a provision for a free-look privilege for any public adjuster contract, the prohibition against soliciting a client between the hours of 8 PM and 8 AM, and the requirement to notify the commissioner of any contracts entered into within 72 hours after a claim. Bulletin 24-18
AGENT / PRODUCER LICENSING AND APPOINTMENT
Maryland published a bulletin notifying companies and producer license applicants of HB 0265/SB 0336 which removes the education and experience requirements for producers required to pass a licensing examination. Beginning 10/01/24, applicants are no longer required to complete an approved program of study before taking the examination. Bulletin 24-19
ARTIFICIAL INTELLIGENCE
Arkansas published a bulletin intended to notify insurers doing business in the state of its expectation that companies comply with all laws and regulations when utilizing artificial intelligence. This includes laws dealing with unfair trade practices and unfair discrimination. Bulletin 13-2024
Michigan issued a bulletin to all insurers doing business in the state explaining its expectations that companies comply with applicable laws and regulations when utilizing artificial intelligence. Bulletin 2024-20-INS
New Hampshire enacted a law that established the crime of fraudulent use of deepfakes and a cause of action for fraudulent use of deepfakes using digitally altered media. HB 1432
Virginia Bureau of Insurance published a letter setting forth the expectations as to how insurers will govern and manage the risk from the development, acquisition and use of AI technologies, including AI Systems. Administrative Letter 2024-01
West Virginia Insurance Commissioner issued a bulletin reminding insurers that decisions or actions impacting consumers that are made or supported by Artificial Intelligence (AI) Systems must comply with state laws and rules. Bulletin 2024-06
AUTOMOBILE INSURANCE
Delaware adopted the Automobile Insurance Premium Refunds Act requiring, among other things, that when an auto policy is cancelled by the insured, any unearned premium must be refunded within 30 days. 611 s 1.0 +
Louisiana published a bulletin explaining recent changes to the statutory provisions for issuance of uninsured and underinsured motorist coverage for commercial auto insurance policies. If the insured does not select uninsured motorist coverage on the form promulgated by the commissioner, it will be presumed that there is no UM coverage. Bulletin 2024-02
Maine published a bulletin clarifying the impact of the updated statutory definition of reportable accident. In 2023, the definition of reportable accident was increased from $1,000 to $2,000. This means that accidents with apparent damage of less than $2,000 are not reportable unless they result in bodily injury or death. Bulletin 480
CREDIT FOR REINSURANCE
New York amended its credit for reinsurance regulation. 11 NYCRR 125.4
CYBERSECURITY
New York State Department of Financial Services issued an Industry Letter regarding the CrowdStrike Global Outage and encouraging regulated entities to be on high alert for suspicious emails, calls and in-person contacts purporting to be a vendor working on this issue. Industry Letter of July 19, 2024
DISASTER / CATASTROPHIC EVENT
Texas Department of Insurance declared a weather-related catastrophe for personal and commercial claim processing as a result of Hurricane Beryl. As a result, deadlines for processing claims are extended by an extra 15 days in the affected counties. Commissioner Order 2024-8743
FILING REQUIREMENTS / PROCEDURES
California published a bulletin highlighting revisions to the rate review process. The department's goal is to increase the transparency and speed of processing rate change filings. Changes include, among other items, reviews within 60 days of the public notice date, with up to two possible 30-day extensions as needed. Bulletin 2024-7
Florida adopted a regulation requiring an attestation of compliance with Section 655.0323(1) and (2) FS. The regulation includes a form for completion of the attestation, available on the office's website and is due by July 1 each year. FAC Rule 69U-100.323
GUARANTY ASSOCIATION
Illinois amended its Guaranty Association Act to provide that a policy obligation that is assumed or allocated through a merger or similar action shall not be construed to create fund coverage if none existed at the time of assumption or allocation. HB 4367
MARKET CONDUCT
Illinois amended the Automatic Contract Renewal Act. Any contract that includes a free trial or promotional period that lasts 15 days or longer, and includes an automatic renewal, must provide notification to the consumer at least three days before the cancellation deadline and send notice in a manner with which the consumer is familiar. SB 2764
MISCELLANEOUS
Ohio passed a law allowing a pet insurer to exclude coverage for pre-existing conditions if certain disclosures are placed in the policy. Other guidelines regulating the sale and delivery of pet insurance are also included. SB 175
Ohio passed a law requiring a corporation to appoint a statutory agent and include the address of the agent's primary residence or usual place of business in Ohio. SB 98
PROFESSIONAL LIABILITY INSURANCE
New Hampshire passed a law prohibiting physicians from performing gender reassignment surgery on an individual under 18 years of age. The minor or parent can bring a legal action against the physician for violation of the law. HB 619
REINSURANCE
North Carolina's Reinsurance Facility announced new ceding expense and claim expense allowances effective in October 2024. Circular Letter RF-24-13
SURPLUS LINES
New Jersey's Insurance Department issued a list of active foreign and domestic Surplus Lines Insurers. Notice dated August 1, 2024
TRADE PRACTICES
Pennsylvania passed a law allowing for exemptions to the prohibition against having insurers or producers provide a rebate or inducement for anything over a certain dollar amount for the purchase of insurance and clarifies what is unfairly discriminatory. SB 1092
TRAVEL INSURANCE
Colorado published a bulletin providing guidance on travel insurance filing requirements, updated as a result of the passage of HB 24-1060. The bulletin provides, among other things, guidance on submitting filings that combine property casualty and accident and health coverages and provides a link for additional resources. Bulletin B-5.49
WORKERS' COMPENSATION
California's Workers Compensation rating bureau published a bulletin informing companies it has updated the loss sensitive advisory plans for policies effective on or after 09/01/24. Plans are updated to reflect the latest available cost projections. Bulletin 2024-11
Delaware enacted amendments to its bankruptcy act, changing certain exemptions and ensuring that workers compensation benefits shall not be assignable and all compensation or claims are exempt from claims of creditors. HB 318
Minnesota's Workers Compensation Insurers Association announced updates to the assigned risk rates effective 11/01/24. The rates are revised in response to revisions in the voluntary market pure premium base rates. Circular Letter 24-1847
New York's Workers' Compensation Board announced it will expand the number of claims it indexes in order to provide clarity and promote efficient resolution of workers' compensation claims. Bulletin WC 046-1704
North Dakota announced the new maximum and minimum weekly benefit levels together with other benefits. Notice of Weekly Benefit Levels 2024
Oklahoma created the Workers' Compensation Assigned Risk Insurance plan. The plan will ensure coverage of applicants unable to obtain workers' compensation insurance through ordinary methods. Regulation 365:15-1-3.3
Wisconsin Compensation Rating Bureau (WCRB) notified its members of a proposal to change class code rates and expected loss ratios (ELRs) from two to three decimal places will be made with the October 1, 2026, rate filing. Insurers are asked to verify their systems can accommodate a three decimal code rate and ELR. Circular Letter 675
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