On May 1, 2024, the Rhode Island Department of Business Regulation (RIDBR) issued Insurance Bulletin 2024-5 providing a list of insurers and insurance groups that must participate in the 2024 Auto Body Labor Rate Survey.
Compliance (11)
Rhode Island Issues Auto Body Labor Rate Survey
May 10, 2024 / by AAIS posted in Compliance, Rhode Island
Texas Issues Data Call for Catastrophe Area Premiums
May 9, 2024 / by AAIS posted in Compliance, Data Call, Texas
On May 1, 2024, the Texas Department of Insurance (TDI) issued Commissioner's Bulletin #B-0003-24 to certain companies requesting information for property direct written premium in the Texas catastrophe area from January 1, 2023, to December 31, 2023.
Maryland Releases FAQ Regarding EUIM Coverage Opt-Out Form
May 8, 2024 / by AAIS posted in Compliance, Maryland
The Maryland Insurance Administration (MIA) has received many questions from carriers since their development and issuance of the new mandatory Enhanced Underinsured Motorist (EUIM) coverage opt-out form, required by Maryland House Bill 128 (2023). In response, the department has compiled the 21 most common questions and provided applicable answers.
On April 22, 2024, Tennessee enacted House Bill 2100 regarding consumer protection. Among additional provisions, House Bill 2100 prohibits insurers from refusing to insure or charging a different rate to individuals, solely based on religious beliefs, political opinions, and other factors.
Maine Clarifies Timeline for Adding Towing and Storage Coverage
Apr 24, 2024 / by AAIS posted in Compliance, Maine
On April 17, 2024, the Maine Bureau of Insurance (MEBOI) issued Bulletin 473 in regards to adding coverage for towing and storage to certain policies.
Maryland Requests Accommodations for Those Impacted by Bridge Collapse
Apr 23, 2024 / by AAIS posted in Compliance, Maryland
On April 15, 2024, the Maryland Insurance Administration (MIA) issued Bulletin 24-9 to all carriers, both personal and commercial lines of insurance and all lines of life and health insurance, doing business in the state of Maryland to make reasonable accommodations to all individuals and businesses that were impacted by the reduced operations of the Port of Baltimore following the collapse of the Francis Scott Key Bridge.
Maryland Issues Bulletin Regarding Diminution of Value Damages
Apr 18, 2024 / by AAIS posted in Compliance, Maryland
On April 12, 2024, the Maryland Insurance Administration (MIA) issued Bulletin 24-8 to all insurers authorized to issue motor vehicle insurance in Maryland requiring uninsured/underinsured (UI/UIM) coverage for diminution of value damages.
Delaware Releases Financial Responsibility Forms for Auto Insurers
Apr 17, 2024 / by AAIS posted in Compliance, Delaware
On April 15, 2024, the Delaware Department of Insurance (DEDOI) released Auto Bulletin No. 35 informing all Delaware licensed insurers, brokers, and agents providing automobile coverage in Delaware that new financial responsibility forms are available on the Delaware Division of Motor Vehicles (DMV) website. The provided new forms are:
Maryland Senate Bill 254, which was enacted on April 9, 2024, will require auto carriers to change the method of reporting insurance coverage to the Maryland Motor Vehicle Administration from an electronic to an online system. The bill also eliminates the requirement to report new policies for non-fleet vehicles and enacts a requirement to report all active policies. Under the bill, the format and cadence for online reporting will be determined by the MVA. The bill becomes effective on January 1, 2025.
On April 2, 2024, Kentucky enacted Senate Bill 29. Among other things, this bill establishes definitions and claims practices around auto glass repair and advanced driver assistance systems, sets guidelines for auto glass repair facilities, and clarifies underinsured motorist credits and offset handling for insurers.