On March 27, 2024, the Michigan Department of Insurance and Financial Services (DIFS) released Bulletin 2024-02-INS, updating the minimum dollar amount of the three-year claim history to be used for nonrenewal of a home insurance policy, effective on January 1, 2024.
Compliance (12)
Michigan Adjusts Minimum Claims Amount for Homeowners Nonrenewals
Apr 5, 2024 / by AAIS posted in Compliance, Michigan
Indiana Issues Moratorium Following Recent Disasters
Mar 29, 2024 / by AAIS posted in Compliance, Indiana
On March 25, 2024, the Indiana Department of Insurance (IDOI) issued Bulletin 274 following tornadoes and severe storms that occurred on March 14, 2024. These disaster events resulted in significant property damage in the counties of Delaware, Jefferson and Randolph.
Maryland Sends Reminder of Information Security Program Certification Deadline
Feb 16, 2024 / by AAIS posted in Compliance, Maryland
On February 14, 2024, the Maryland Insurance Administration (MIA) issued Bulletin No. 24-6 reminding those insurers required to file an Information Security Program Certification with the department that the annual filing deadline is April 15. The first certification is to be submitted to the department on or before April 15, 2024. The MIA reviewed criteria for a filing exemption in Bulletin No. 23-18. Bulletin No. 24-6 sets forth the primary method carriers are to use when filing the certification with the department.
North Carolina Issues Beach and Coastal Area Homeowners Data Call
Feb 15, 2024 / by AAIS posted in Compliance, Data Call, North Carolina
On February 6, 2024, the North Carolina Department of Insurance (NCDOI) issued Bulletin 24-B-03 to property and casualty insurers writing Homeowners insurance in North Carolina.
North Carolina Issues Private Passenger Auto and Homeowners Data Call
Feb 9, 2024 / by AAIS posted in Compliance, Data Call, North Carolina
On February 5, 2024, the North Carolina Department of Insurance (NCDOI) issued Bulletin 24-B-02 to property and casualty insurers writing Private Passenger Motor Vehicle Damage and Homeowners insurance in North Carolina.
California Issues Zero Emission Truck Data Call
Feb 8, 2024 / by AAIS posted in Compliance, Data Call, California
On February 1, 2024, the California Department of Insurance (CDI) issued Circular: ZET-2024 (Part 1) to all licensed property and casualty insurers writing Commercial Auto Liability/Physical Damage Insurance regarding a Zero Emission Truck Data Call. This is part one of a two part survey and will focus on insurance offerings, loss experience, vehicle coverage, policy details and coverage limits for Medium and Heavy-Duty Trucks that transport cargo, as defined by the State Air Resources Board.
North Carolina Rate Bureau Sends Schedule For 2024 Data Calls
Jan 31, 2024 / by AAIS posted in Compliance, Data Call, North Carolina
On January 29, 2024, the North Carolina Rate Bureau (NCRB) released Circular Letter G-24-2 providing a schedule of the upcoming Data Calls for 2024 and the details behind each data call.
New York Issues Private Passenger Automobile Data Call For Misrepresentations by Insureds
Jan 18, 2024 / by AAIS posted in Compliance, Data Call, New York
On January 11, 2024, the New York Department of Financial Services (DFS) issued a data call to all licensed property and casualty insurers writing private passenger automobile insurance with 3,000 or more policies in force. This data call requests information regarding the incidence of misrepresentations by insureds of the principal place where their vehicles are driven and/or garaged.
New Jersey Continues Submissions of Private Passenger Automobile Underwriting Guidelines Changes
Jan 12, 2024 / by AAIS posted in Compliance, New Jersey
On December 29, 2023, the New Jersey Department of Banking and Insurance (NJDOBI) issued Order No. A23-14 and Bulletin No. 23-08 ordering that all authorized and admitted property and casualty insurers that have private passenger automobile policies in force as of December 29, 2023, to continue submitting any changes made to its underwriting guidelines to the Department. Any changes made between the dates of January 1, 2024 and December 31, 2024 need to be submitted to the NJDOBI within five days of implementation.
Tennessee Requests Moratorium Following Several Tornadoes
Dec 21, 2023 / by AAIS posted in Compliance, Tennessee
On December 9, 2023, Tennessee experienced devastating tornadoes that resulted in the destruction of property and other tragedies. The Tennessee Department of Commerce and Insurance (TDCI) issued Bulletin 23-06 following the tornadoes, requesting licensed insurers in the state of Tennessee to assist policyholders who have been affected by the tornadoes by suspending the cancelation or non-renewal of policies due to non-payment of premium for a period of at least 60 days.