On August 27, 2024, the Nevada Division of Insurance (Division) issued Bulletin 24-002 to remind insurers of their requirement to file any mathematical model used in underwriting or rating for any property and casualty lines of insurance subject to the specified regulation of rates.
Nevada Issues Bulletin Regarding Requirement to File Supplementary Rate Information
Nov 13, 2024 / by AAIS posted in Compliance, Nevada
Montana Issues New Certification of Compliance for Anti-Stacking Statute
Nov 13, 2024 / by AAIS posted in Compliance, Montana
On November 4, 2024, the Montana Commissioner of Securities and Insurance (CSI) issued an Addendum to Advisory Memorandum regarding a new certification for compliance with § 33-23-203, Mont. Code Ann.
California Issues Moratorium Following the Shelly and Bear Fires
Nov 12, 2024 / by AAIS posted in Compliance, California
On November 8, 2024, the California Department of Insurance (CDI) issued Bulletin 2024-12 to all admitted and non-admitted insurers in the state, mandating a moratorium on the cancellation and nonrenewal of residential property insurance following the emergency declarations due to the Shelly and Bear fires.
California Amends Title 10 CCR Sections 2643.3, 2644.27, 2648.1, 2648.2, and 2648.4
Nov 11, 2024 / by AAIS posted in Compliance, California
California has amended regulations in Title 10 CCR Sections 2643.3, 2644.27, 2648.1, 2648.2, and 2648.4. Among other provisions, the amendments to these sections state that premium variance requests should now be filed with the Rate Regulation Branch at the same time as the complete rate application to which they apply. A complete rate application will be considered received by the Commissioner on the date that all information required as part of a complete rate application has been delivered to the Department's Rate Regulation Branch using the System for Electronic Rate and Form Filing (SERFF). Additionally, the review time for the Commissioner on rate applications has been extended to 30 days. Guidelines for a complete rate application and what to include are also provided.
Washington State Issues Property and Casualty Policy Count Data Call
Nov 6, 2024 / by AAIS posted in Compliance, Data Call, Washington
On November 1, 2024, the Washington State Office of the Insurance Commissioner (WOIC) issued a Property and Casualty Policy Count Data Call with instructions, requiring all authorized property and casualty companies that did business during the years of 2021, 2022, and 2023 to respond.
North Carolina Issues Bulletin Regarding FEMA Inquiries Following Hurricane Helene
Nov 5, 2024 / by AAIS posted in Compliance, North Carolina
On October 31, 2024, the North Carolina Department of Insurance (NCDOI) issued Advisory Bulletin 24-B-18 to all companies writing property and casualty insurance in the state, reminding them of the specified statutory requirements related to inquiries made by policyholders seeking financial assistance from the Federal Emergency Management Agency (FEMA) following Hurricane Helene.
Hawaii Issues Residential Hurricane Insurance Data Call
Nov 1, 2024 / by AAIS posted in Compliance, Data Call, Hawaii
On September 16, 2024, the Hawaii Insurance Division (HIID) issued Memorandum 2024-1R requiring all insurers who currently write, or have written, residential hurricane coverage in the last fifteen years to complete the data call worksheet.
North Carolina Expands Disaster Region in Tropical Storm Helene Bulletins
Oct 31, 2024 / by AAIS posted in Compliance, North Carolina
On October 28, 2024, the North Carolina Department of Insurance (NCDOI) amended Bulletin Number 24-B-13 and Bulletin Number 24-B-14 to expand the disaster region following Tropical Storm Helene.
Georgia Issues Directive Lifting Ban on Policy Cancellations in Remaining Counties
Oct 30, 2024 / by AAIS posted in Compliance, Georgia
On October 24, 2024, the Georgia Office of Commissioner of Insurance and Safety Fire (OCI) issued Directive 24-EX-9 to lift the temporary ban on policy cancellations in all remaining counties that was set forth in Directive 24-EX-6.
New Mexico Issues Emergency Order Following Flooding in Chaves County
Oct 29, 2024 / by AAIS posted in Compliance, New Mexico
On October 21, 2024, the New Mexico Office of Superintendent of Insurance (OSI) issued an Emergency Order following the issuance of Executive Order 2024-155 regarding the severe flooding impacting Chaves County.