The Journal - Colodny Fass

Transcription

Journal for Insurance
Compliance Professionals
Vol. 23, No. 1 A Publication of the Association of Insurance Compliance Professionals
March 28, 2008
The AICP Is All About Education
•
•
•
Continuing education, professional education, higher education:
The AICP is all about the education you need to succeed in your
career!
The Journal
Membership Directory
Website
In This Issue.........
President’s Message
AICP News
Committee Corner
Membership Corner
Central Region News
Gulf States Region News Mid-Atlantic Region News
Northeast Region News
Northwest Region News
South Central Region News
Southwest Region News
United States
Canada
Officers & Directors List
Other Board Members
Chapter Officers List
New Members
Index to AICP Journal 2007 Index to AICP Advertisers
Visit our website at
http://www.aicp.net
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Continuing education takes place throughout the year, reaching a
crescendo at our Annual Conference. Here’s what’s on the calendar
so far:
• The AICP’s Western Chapter is sponsoring an Education
Day in Glendale, Arizona, on March 14, 2008. The scheduled
speakers are Dan Courtney and Lorelei Judd with the Arizona
Department of Insurance on insurance fraud, Daryl James of
Wolters Kluwer on the challenges of managing legislative and
regulatory changes in insurance companies, and a SERFF
Tips and Tricks update. Registration and other information are
available on the Western Chapter Web page at
http://www.aicp.net/chapters/western.cfm#events.
• The Heartland Chapter of the AICP plans an Education Day in
Overland Park, Kansas, at the offices of Swiss Re on April 9, 2008.
Scheduled speakers include Douglas Ommen, Missouri Director
of Insurance; Sandy Praeger, Kansas Insurance Commissioner &
NAIC President; and Leslie Krier, Washington Office of Insurance
Commissioner. Details are available on the Heartland Chapter Web
page at http://aicp.net/chapters/heartland.cfm#events.
• The AICP’s New England Chapter will hold its 12th Annual
Education Day on May 9 at the New England Center on the
campus of the University of New Hampshire in Durham, New
Hampshire. The anticipated agenda includes sessions on
Interstate Compact/SERFF, Data Calls, Mandatory Selection
Forms, Ethics, STOLI, COLI, BOLI, IOLI, Market Regulation
and Analysis, Marine, Business Writing, Discovery Issues and
Retention, Research Skills, Civil Union Legislation, Fraud, Global
Warming, and Tracking and Communicating Regulatory Changes.
The registration form will be posted on the New England Chapter
Web page at http://www.aicp.net/chapters/newengland.cfm#events.
• The Northwest Chapter of the AICP has scheduled an Education Day
for Tuesday, May 20, 2008, at the Lacey Community Center in Lacey,
Washington. Information will be posted on the Northwest Chapter
Web page at http://www.aicp.net/chapters/northwest.cfm#events.
Continued on Page 4
Vol. 23, No. 1
The Journal
March 28, 2008
President’s Message
Let’s shine the spotlight on two topics of importance to the Association of Insurance
Compliance Professionals: how YOU can help make successful regional chapters and how you
can grow future leaders for our chapters, committees and offices.
The AICP’s nine regional chapters are the local benefit of membership. As a member, you
should expect your chapter to hold regular meetings with programs that provide continuing
education and opportunities for networking. Regular meetings “happen” with solid programs and networking
opportunities when members communicate with the chapter leadership and committee chairs then volunteer to stage the
meeting or Education Day.
What subject would be a great session topic for you? Few people in the insurance industry can guess what will interest
a member specializing in health insurance (changes in Medicare Supplement regulations?), life insurance (refiling
products with the 2001 Commissioners Standard Ordinary mortality tables?), annuities (suitability?), variable annuities
(Straight Through Processing/STP?), property insurance (catastrophe models?) or government relations (Optional Federal
Charter?), especially when the chapter program chair spends her/his day working on state-specific requirements for
personal automobile insurance!
You can help get the ball rolling:
• Call or send an e-mail to your chapter leadership and program chair to let them know what’s of interest to you.
• Volunteer to help put a program together that will benefit you and other members.
• Ask your regional director how to qualify for a share of the “seed money” available to chapters to help pay for a
webcast that can be shared with place-bound members or a “name” speaker!
By your working together with other members, your chapter meeting will be a success!
If you don’t know your current chapter officers, go to http://www.aicp.net/chapters/index.cfm to identify your chapter,
and follow the link to your chapter’s home page.
We want every member to benefit from chapter membership and every chapter to provide benefits to its members. You
can be a part of those successes!
Our regional chapters also grow the AICP’s future leaders.
Chapter volunteers are people who come to mind as potential leaders in the chapters, on national committees, as
regional directors and national officers. Every local chapter needs self-starting, energetic, enthusiastic, skilled volunteers
to be successful. Volunteering at the chapter level is a good way to build a history of successes using the project
management, leadership. and people skills needed for career development.
How do you become a leader? This year, start by volunteering for the chapter program committee. You may learn
how to solicit sponsorships, identify session topics, and arrange speakers or work with facilities managers and the food
service. Next year, perhaps you’ll be the program chair, building upon your successes to bring together all of the program
pieces at a successful chapter Education Day. Your talents will definitely be noticed by the members of your chapter and
your chapter leadership!
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Vol. 23, No. 1
March 28, 2008
In my opening paragraph, I said I’d be shining the spotlight on two topics: how YOU help make successful regional
chapters and how you can grow future leaders for our chapters, committees and offices.
• I wrote about having strong, successful chapters, and the secret is having interested, participating volunteers.
• I wrote about growing the AICP’s future leaders, and the secret is having interested, participating volunteers.
It’s all really just one topic, isn’t it? The AICP’s success depends on strong chapters and growing future leaders with
interested, participating volunteers. Can we count on YOU to be part of the AICP’s success story?
Brady Smith
President
Association of Insurance Compliance Professionals
Publisher’s Statement
The Journal is published on a quarterly basis for the members of AICP. General correspondence and membership
applications should be mailed to: Association of Insurance Compliance Professionals, 12100 Sunset Hills Road, Suite 130, Reston VA 20190-5202.
Phone 703-234-4074; fax 703-435-4390. The information contained in the newsletter is complete and accurate to the best knowledge of each contributor.
The Association, however, assumes no responsibility. Readers are
advised to confirm all information through alternative sources.
Editorial copy may be mailed directly to Darrell Turner or sent to the regional editors.
Editor
Darrell Turner, National
Editor, AIS, ARC
Brotherhood Mutual Insurance
Company
Regulatory & Compliance
Analyst
6400 Brotherhood Way
Fort Wayne, IN 46825-4235
(260) 481-9963
Assistant Editors
Stacye Adams
Berkley Net Underwriters, LLC
12701 Marblestone Drive
Suite 250
Woodbridge, VA 22192
(703) 586-6322
Cynthia Burleson, CIC,
ACSR
American Management
Corporation
1337 Raintree Drive
Columbia, SC 29212
(501) 450-7400 x6803
Consulting Editor
Canada:
Brady Smith
Symetra Life Insurance Co
P.O. Box 34690
Seattle, WA 98124-1690
425-256-6325
Regional Editors
Central Region:
Art Bowden, AIC
(Publications Co-Chair)
Horace Mann Insurance
Company
#1 Horace Mann Plaza
Springfield, IL 62715
217- 788-5114
Bonnie Blue, FLMI, ACS, AIRC
Manager, Group Life & Health
Compliance
Principal Financial Group
711 High Street, K-005-E81
Des Moines, IA 50392-0001
515-247-0657
Gulf States:
Lindsay R. Cleveland
RSUI Group Inc.
945 East Paces Ferry Road
#1800
Atlanta, GA 30326
404-260-3861
Rich Fidei, Esq.
Colodny, Fass, Talenfeld, Karlinsky & Abate, P.A.
One Financial Plaza, 23rd Floor
100 Southeast Third Avenue
Ft. Lauderdale, Florida 33394
954-492-4010
Mid-Atlantic Region:
Betty Dabrowski
McHugh Consulting
Resources Inc.
350 South Main Street,
Suite 103
Doylestown, PA 18901
215-230-7960
Roseanne (Anne) T. Aponte
United States Aviation Underwriters Inc.
199 Water Street
15th Fl
New York, NY 10038
212-859-3873
◆
Northeast Region:
Gregory A. Popolizio, AIS
(Publications Co-Chair)
The Hanover Insurance
Group
440 Lincoln Street
Worcester, MA 01653
508-855-4826
Peggy Schwartz
Boston Mutual Life Insurance
Company
120 Royall Street
Canton, MA 02021-1028
781-770-0423
Cailie Currin
The Currin Law Office
102 Main Street
PO Box 90
Greenwich, NY 12834
518- 692-2494
Northwest Region:
Janet Vitus, CIC, MHP, HIA,
CRM, ACP, CCP
State of Oregon Insurance
Department
350 Winter Street NE
Room # 440-5
Salem, OR 97301-3833
503-947-7278
Doug Geraci, CPCU, ACP
Insystems
381 South Ferry Street
Monroe, WA 98272-2309
360-805-1705
South Central Region:
Donna Benard, FLMI, AIRC,
ACP, CCP, CE#1
New York Life Insurance Company, LTC
6200 Bridge Point Parkway
Suite 400
Austin, TX 78730-5006
512-703-5475
Lori A. Chambers, AIRC
State National Companies
8200 Anderson Blvd.
Fort Worth, TX 76120-3620
(800-877-4567 x1224
Southwest Region:
Lois Pimentel
Perr & Knight, Inc.
881 Alma Renal Drive
#205
Pacific Palisades, CA 90272
310-230-9339
Vol. 23, No. 1
The AICP Is All About Education
The Journal
March 28, 2008
(continued from cover)
• The AICP’s Midwest Forum Chapter will be holding an Education Day on May 21 in Columbus, Ohio. Joint
session topics will include “Privacy Meets Market Conduct,” “Hot Topics at the NAIC,” and “SERFF: The Pros
and Cons.” There will be break-out sessions for a review of the Interstate Insurance Products Regulatory
Commission for life and health insurance interests opposite an update on the TRIAA extension for propertycasualty interests. Additional details and a registration form will be posted on the Midwest Forum Web page at
http://www.aicp.net/chapters/midwest.cfm#events.
• The AICP’s Annual Conference will be in Atlanta, Georgia, October 5-8, 2008. The Annual Conference is
the premier event for the insurance compliance community, featuring educational sessions appealing to the
diversity of interests in our membership and throughout the insurance industry. The program schedule will be
finalized and posted on the AICP website (http://www.aicp.net) in June, with registration packets to be mailed
by July 15.
Be recognized for your professional education through the AICP’s Certification Program!
Program requirements include courses offered by the industry educational institutions of the Life Office
Management Association (LOMA), America’s Health Insurance Plans (AHIP), the American Institute for
Chartered Property Casualty Underwriters (AICPCU), the Insurance Regulatory Examiners Society (IRES),
and the National Association of Insurance Commissioners (NAIC). In addition, AICP maintains its own
ratemaking course and test for those in the property/casualty concentration.
• The Associate Compliance Professional (ACP) designation offers tracks for life and annuities, propertycasualty and health concentrations. Starting from a core curriculum, certification is earned by adding
additional education specific to the individual’s area of interest.
• The Certified Compliance Professional (CCP) designation builds upon the attained ACP designation with
additional professional education.
For details, check out the Certifications Web page (http://www.aicp.net/careercenter/certifications.cfm) in the
AICP Career Center.
And for higher education, look to the AICP’s scholarship program:
• Apply by May 1 for one of three $1,000 scholarships awarded annually to selected recipients to assist in their
tuition and fees.
• The scholarships are available to anyone in undergraduate studies or graduate studies in the fields of
insurance, risk management, mathematics (with an actuarial emphasis), or a business-related major.
• Completed applications and all supporting documents should be sent to the AICP Association Headquarters
no later than May 1:
The eligibility criteria and scholarship application are available on the AICP Website at
http://www.aicp.net/careercenter/scholarship.cfm.
Think of the AICP when you’re thinking of continuing education, professional education and higher education!
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Vol. 23, No. 1
The Journal
March 28, 2008
Interstate Insurance Compact: One-stop Product Filing
The Interstate Insurance Compact is a state-based modernization initiative for a national approach to insurance
regulation that provides the speed-to-market platform for one set of uniform insurance product standards with
one central point of electronic filing for one approval that is valid in 30 member jurisdictions and growing.
Background
Since the early 1990s, insurance regulators have acknowledged the need to make improvements to the statebased insurance regulatory system. In particular, the current system with 56 jurisdictions could possibly require
the same number of individual state product approvals in order for an insurer to roll out a policy on a national
basis. The requirements for individual state approvals can be an expensive and time-consuming process for the
insurer, but also for the consumer, because the product price often reflects these costs. Additionally, regulatory
review redundancies may impinge on state insurance department resources, which could be reallocated within
the same departments to areas such as market conduct and financial analysis. As such, state regulators
identified speed to market and streamlined review processes as critical in order for the insurance sector to
keep pace in the evolving global financial services market.
In 2002, the National Association of Insurance Commissioners (NAIC) began work on a Model Interstate
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Vol. 23, No. 1
March 28, 2008
Insurance Compact Act, which enables states in their sovereign capacity to act jointly to promote uniform and
modern regulatory practices. Through cooperative work with state legislators through the National Conference
of State Legislators (NCSL) and the National Conference of Insurance Legislators (NCOIL), this model was
finalized. The first two states, Colorado and Utah, enacted the compact in 2004.
By May 2006, the required legislative threshold of 26 member states was met, and the Interstate Insurance
Product Regulation Commission (IIPRC) came into existence in June 2006.
IIPRC Goals
Headquartered in Washington, D.C., the IIPRC is the vehicle by which the compacting member states develop
uniform standards. It also serves as the central point of product filing and review for life insurance, annuities,
disability income, and long-term care insurance under the compact.
The IIPRC enhances the effectiveness of the way insurance products are filed, reviewed, and approved,
allowing consumers to have quicker access to competitive insurance products in an ever-changing insurance
sector. As mobile products that tend to travel with consumers throughout their lifetimes, these products lend
themselves to uniform standards. Uniformity is achieved through the application of national product standards
embedded with strong consumer protections. The IIPRC provides for an open and transparent process
in setting these national insurance regulatory standards and engages input from industry and consumer
constituencies.
Governance Structure
The Management Committee directs the IIPRC’s affairs. It is made up of 14 members encompassing a threetier representation of states based upon premium volume. The committee currently includes the six largest
compacting states by premium volume: Texas, Pennsylvania, Ohio, Michigan, Massachusetts, and North
Carolina; four mid-size states by premium: Georgia, Virginia, Minnesota, and Indiana; and one additional state
from each of four regional NAIC zones: Idaho, Oklahoma, West Virginia, and Vermont. The remaining members
WESTMONT
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For more information contact: [email protected]
Telephone: (856) 216-0220
Facsimile: (856) 216-0303
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Vol. 23, No. 1
The Journal
March 28, 2008
of the compact are Alaska, Colorado, Hawaii, Iowa, Kansas, Kentucky, Maine, Maryland, Nebraska, New
Hampshire, Puerto Rico, Rhode Island, Tennessee, Utah, Washington, and Wyoming.
The IIPRC also has six standing member subcommittees: Audit, Communications, Finance, Product Standards,
and Rulemaking, with membership from the ranks of the full commission. Additionally, the compact legislation
provides for the IIPRC Legislative Committee to work as an active partner in this process with eight members
appointed by NCSL and NCOIL.
A Consumer Advisory Committee and an Industry Advisory Committee are appointed by the Management
Committee, representing the consumer advocacy community and the industry, respectively. These advisory
committees provide regular input on the IIPRC standards-setting process.
IIPRC Today
The IIPRC currently has 30 member jurisdictions, representing one-half of the premium volume nationwide,
and more states are expected to join in 2008. Within one year of its start-up, the IIPRC adopted its first
uniform standards and operating procedures allowing for the filing of initial products in June 2007. These initial
product filings were reviewed and regulatory decisions made within a 60-day turnaround time frame under
the compact’s speed-to-market commitment. The IIPRC uses the System for Electronic Rate and Form Filing
(SERFF) for its filing submissions.
With experienced regulators working in its operations and new enhancements added to its product filing
platform, the IIPRC is leveraging the proven expertise of the state-based regulatory system to build a state-ofthe-art product review operation to meet the market demands while continuing to uphold consumer protections.
Today, the IIPRC is receiving filings from large, medium and small insurers as companies are taking advantage
of the one-stop filing benefits of one product approval within 60 days valid in 30 states and growing.
For more information on the IIPRC, contact it using the information below:
Interstate Insurance Product Regulation Commission
444 North Capitol Street, NW Suite 701
Washington, DC 20001
tel (202) 471-3962
fax (816) 460-7476
e-mail: [email protected]
Web site: http://www.insurancecompact.org
Frances Arricale, IIPRC Executive Director
New IRES MC+ Program Up and Running
November 12-14, 2007 will long be remembered by IRES members, for these were the dates on which the
initial pilot class for our new MC+ program was held. The program, which was years in development, has now
reached its final stages.
Twenty-nine regulators and industry participants successfully completed the class and will be awarded the
Market Conduct Management (MCM) designation. In order to receive their designation, participants must
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March 28, 2008
complete a 20-hour class and pass a written examination.
The class is the first of its kind in that it provides enrollees with the tools to actually conduct an examination
in accordance with the NAIC Market Regulation Handbook and the IRES code of ethics. Since every state
handles market conduct examinations somewhat differently, this course was designed to provide consistency in
the way examinations are conducted.
This is the first class in which individuals will learn the mechanics of conducting a market conduct examination
in an efficient and effective manner. It will also allow participants to learn how states handle different situations
during the course of an examination.
One of the responsibilities of pilot class members is to evaluate the textbook and provide feedback to the MC+
subcommittee so that authors can make appropriate changes to the text to enhance the learning experience of
future participants.
After completing the pilot program Don Koch of North Star Examinations, a past president of IRES, said, “This
is probably the best session on market conduct that I have ever attended.”
And Don was not alone. Larry Hawkins, director of the Market Conduct Division Office of Financial Solvency for
the Louisiana Department of Insurance, said, “I was extremely blessed to be one of the first participants in the
MC+ Best Practices of Conducting Market Conduct Examinations course. This course was the best I have ever
participated in. From the textbook to the facilitators, it was excellent. I highly recommend the MC+ course to all
EICs and those desiring to further their professional development.”
Larry’s comments pretty well reflect the thoughts of all those who completed the pilot course. IRES members
should be extremely proud of this significant achievement.
IRES will schedule four classes during 2008. The first class will be at the Wisconsin Insurance Department,
March 17-19. The second is scheduled for Baton Rouge, La., in late May or early June. The third will be on the
Wednesday, Thursday, and Friday following the 2008 CDS in St. Louis in August. Our final 2008 class will be
conducted in the fall at the Virginia Insurance Department in Richmond.
Only 30-35 participants will be permitted to enroll in each class. The class is open not only to regulators but
also to independent contractors, industry personnel, and attorneys.
The cost for each MCM class is as follows:
IRES Regulator Member………………………………………………..$359.00
Non-member Regulator…………………………………………………$675.00
IRES Sustaining Member……………………………………………….$750.00
IRES Non-sustaining Member………………………………………….$950.00
If you are interested in enrolling in one of the classes, please contact Susan Morrison at the IRES office (913768-4700) so your name can be added to the list. In the near future there will be a registration form on the
IRES Web site for enrolling online.
Gary Domer
Reprinted with permission from the January 2008 issue of The Regulator.
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Vol. 23, No. 1
March 28, 2008
State Legislative
State Legislative Session
Session Calendar Calendar
Session Dates
Session
Dates
February 28, 2008
asAs
ofofFebruary
28, 2008
State
Regular
Regular Comments
Special
Special
Session
Session
Session
Session
Convene Adjourn
Convene Adjourn
Alabama
Feb 5
May 19
Alaska
Jan 15
Apr 15
Arizona
Jan 14
Late Apr
Arkansas
Comments
No
regular
session
in 2008
California A S Jan 7
Aug 31
Dec 5,
2007
Dec 6,
2007
Colorado
Jan 9
May 7
Connecticut
Feb 6
May 7
Delaware
Jan 8
Jun 30
Jan 14
Budget
Jan 2
19th Special
In recess Jan
29 - Mar 6
Florida H S
Mar 4
May 2
Georgia
Jan 14
Mid Mar
Hawaii
Jan 16
Early
May
Idaho
Jan 7
Late Mar
Illinois H S
Jan 9
*
Session of this
biennium; mass
transit; gaming
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Vol. 23, No. 1
Indiana
Jan 14**
Mar 14
March 28, 2008
Organizational
day on Nov 20,
2007
Iowa
Jan 14
Apr 22
Kansas
Jan 14
Apr 12
Kentucky
Jan 8
Apr 15
Louisiana
Mar 31
Jun 23
Maine
Jan 2
Apr 16
Maryland
Jan 9
Apr 7
Massachusetts Jan 2
*
Michigan H S
*
Jan 9
Minnesota H S Feb 12
May 19
Mississippi
Jan 8
May 11
Missouri H S
Jan 9
May 30
Montana
Feb 10
No regular
session in
2008
Nebraska
Jan 9
Mid Apr
Nevada
No regular
session in
2008
New
Jan 2
July 1
Hampshire
New Jersey
Jan 8
New Mexico
Jan 15
New York
Jan 9
North Carolina May 13
North Dakota
*
Feb 13
*
July
No regular
session in
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10
Feb 26
Ethics
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Vol. 23, No. 1
March 28, 2008
2008
Ohio
Jan 2
Oklahoma
Feb 4
*
May 30
Oregon
No regular
Feb 4
Feb 29
Budget
session in
2008
Pennsylvania
Jan 1
*
Sep 7,
Energy
2007
Rhode Island
Jan 1
Late Jun
South Carolina Jan 8
Jun 5
South Dakota Jan 8
Mid Mar
Tennessee
Late Apr
Jan 8
Texas
No regular
session in
2008
Utah
Jan 21
Mar 5
Vermont
Jan 8
Early
May
Virginia
Jan 9
Mar 8
Washington
Jan 14
Mar 12
West Virginia Jan 9
Wisconsin
Jan 15
Wyoming
Feb 11
American
Jan 14
Mar 8
*
Mar 7
Second part of
Samoa
session begins
July 14
District of
Jan 7
*
Jan 14
*
Columbia
Guam
◆
11
Dec 11,
Campaign finance
2007
reform
The Journal
Vol. 23, No. 1
N. Mariana
Islands
Puerto Rico
Jan 14
Virgin Islands
Jan 14
Jun 30
*
Key
* Legislature meets throughout the year
** Constitutional opening date, which may be changed.
Reprinted with permission from the National Conference of State Legislatures
For updates, check the NCSL Website at
http://www.ncsl.org/programs/legismgt/about/sess2008.htm
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March 28, 2008
Vol. 23, No. 1
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March 28, 2008
Conference Planning Has Begun
Yes, it’s hard to believe, but the Conference Planning Committee is already in full attack mode and starting to
plan this year’s conference in Atlanta, Ga., October 5-8. All the subcommittees have their plans and are moving
forward to make this our best conference ever!
The L&H and P&C Program Committees have been working hard developing sessions and have found the best
speakers for each of them. The Regulator Committee has been knocking on doors and asking regulators to
come from across the country. The Exhibitor Committee is busy contacting vendors, and booths are being sold.
The Extracurricular Committee is finding things for everyone to do in Atlanta. The Silent Auction Committee
is making calls and taking donations for our Silent Auction this year, the proceeds from which will go to a
local charity. The theme of the event is being decided, as well as the important things – like the food and the
receptions!
Keep watching your e-mail and the Web site for new developments. Things are happening quickly and we know
you are going to love them!
Katie Gurnett
Program Chair
Start Thinking About Nominations Now
It’s never too early to start thinking about spring, summer picnics,
summer vacation and nominations for next year’s AICP officers.
Whoa – wait – did you say next year’s AICP officers? Yes – we
want you to start thinking about your future with AICP. Is there a
National position that interests you, or maybe a chapter position?
Now is the time to start asking questions of the current officers:
questions like what is involved? How much time does it take? What
have you learned? Do you enjoy it?
A call for nominations will be going out to all members in May,
so now is the time to start thinking about who you want to be an
officer and leader of your organization. Maybe it’s a colleague you think would do an awesome job, or maybe
it’s you!
Watch for those e-mails in May – and start thinking NOW!
Katie Gurnett
Chair
Nominating Committee
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Get a Professional Designation This Year
Do you have your CPCU, FLMI, HIA, or other similar professional designation? If so, what about AICP’s ACP,
CCP, or CE recognition? If not, why not?
The procedure to obtain the ACP and CCP is extremely easy and will cost you only a one-time fee of $30. You
can find the requirements and application on the AICP Web site under the Career Center link.
After you submit your application and the required transcripts to Drohan Management, the documents are
forwarded to an Education Committee member to review for approval. It is just that easy! When it’s been
approved, you can add the ACP or CCP designation moniker after your name.
If you already have one of the professional designations listed above and your ACP, you already may have the
requirements necessary to obtain the CCP designation. You can even apply for both at the same time if you
meet the requirements of each by just completing both applications, attaching the necessary transcripts, and
submitting the documents to Drohan Management.
If you already have your CCP designation and it’s been three years since you got it, you now have the
opportunity to obtain your first of many Continuing Education (CE) recognitions. The CE requirements and
application are also on the AICP Career Center Web site link.
Your certificate will be conferred at a special Educational Luncheon at the Annual Conference.
If you have any questions about these designations, contact Michael Hollar, AICP Education Committee cochair, at [email protected] or call 847-953-1531.
AHIP Course Discount Available
Are you currently taking or planning on taking an America’s Health Insurance Plans (AHIP) insurance course?
If so, and if your company is not a current member of AHIP, do we have a deal for you!
AICP and AHIP have worked out a partnership whereby AICP members can receive a 40 percent discount
on course registration and textbooks. All you need is to supply AHIP with the designated code on your course
registration form. It is that easy.
This code and other pertinent information about the discount can be found on the AHIP Web site under the
Career Center/Certification/Designations link. Why not save yourself some money and take advantage of this
discount today?
AHIP’s main Web address is http://www.ahip.org.
If you are only interested in the courses AHIP has available or how to register for a self-study course, that Web
address is http://www.insuranceeducation.org.
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March 28, 2008
If you have any questions about this partnership, contact Michael Hollar, AICP Education Committee co-chair,
at [email protected] or call 847-953-1531.
The New England Chapter Education Day – Save the Date!
The New England Chapter is proud to announce its 12th annual Education Day to be held on Friday, May 9,
2008, at the New England Center in Durham, N.H. The New England Center is located at the picturesque
University of New Hampshire, just 45 minutes from Manchester Airport.
The day will kick off with registration and a full breakfast followed by opening remarks, a keynote speaker, and
educational sessions that promise to stimulate the mind and enhance job performance. The anticipated agenda
includes sessions on Interstate Compact/SERFF, data calls, mandatory selection forms, ethics, STOLI, COLI,
BOLI, IOLI, market regulation and analysis, marine coverage, business writing, discovery issues and retention,
research skills, civil union legislation, fraud, global warming, and tracking and communicating regulatory
changes. Regulator participation is expected through Hot Topic Sessions and one-on-one interaction.
With New England frugality in mind, the E-Day Planning Committee is committed to keeping registration costs
down so attendance is all the more desirable. Hotel fees are $119 a night with a government rate of $81 a
night. With prices like that, book early for a weekend of fun and enlightenment. You may register online at
http://www.newenglandcenter.com or phone 1-800-590-4334. Portsmouth, New Hampshire, and Kittery, Maine,
are minutes away for great sightseeing and outlet shopping.
For more information concerning E-Day, please contact Chapter Vice President Lee Davidson at 508-855-2075
or e-mail at [email protected]. Information and the registration form regarding the New England Chapter
E-day will be posted soon to the chapter Web page via http://www.aicp.net.
Lee D. Davidson
Vice President
New England Chapter
Northwest Chapter E-Day Set for Lacey, Washington
The Northwest Chapter will hold its annual Education Day on Tuesday. May 20, 2008. at the Lacey Community
Center in Lacey, Wash. Tentative plans include registration beginning at 8 a.m., with a general session following
at 9 a.m. Lunch will be provided.
The event is in the initial stages of planning and promises to be an educational and memorable day. Questions
concerning the Northwest Chapter Education Day may be directed to Doug Geraci, E-Day planning chair, at
[email protected] or 306-805-1705.
E-Day Planning Chair
Northwest Chapter
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Committee Corner
March 28, 2008
on an as-needed basis.
Chapter Relations Committee
5) Ensure that chapters elect officers no later
than two weeks before conference and that
the chapter officers receive necessary support
tools (including but not limited to chapter
guidelines). We begin to work on assisting
chapters with their elections by mid-summer to
ensure that each chapter will have each officer
position filled two weeks before the Annual
Conference.
The Chapter Relations Committee is involved
with almost every Committee within AICP,
because two of the main objectives for our
committee are to represent the interests of the
chapters to the Board and to communicate
board decisions to the Chapters. The Chapter
Relations Committee is composed of the nine
regional directors, one from each Chapter.
The main charges for the Chapter Relations
Committee are:
1) Work with the Bylaws Committee to review
the Chapter Guidelines and update as
necessary. Because there were several
changes made to the National Bylaws last
year, our charge this year is to help each
chapter review its chapter guidelines and
bring them into line to be consistent with the
current national bylaws.
6) E – Day Assistance Plan – A new program will
be announced in the near future for assistance
with Chapter E-Days.
Chapter Relations meets quarterly, the day
before each board meeting, to discuss our
Annual Charges and the status of completion
of each charge, as well as any other topics
pertinent to our committee. The nine regional
directors serve two-year terms that are
staggered. This assures that we always have
either four or five experienced RDs helping us
maintain continuity within the committee.
We anticipate forwarding chapter guidelines to
the chapter officers sometime after the April
board meeting for their review and adoption
later this year.
The current regional directors serving their
second year are:
Mary Keim – Great Lakes Chapter
Dan Hurley – Gulf States Chapter
Judy Wickens – Midwest Forum
Jennifer Kreitler – Northwest Chapter
Greg Theobald – Western Chapter
2) Oversee the volunteer recognition initiatives
among chapters.
3) Track new volunteer/volunteer attrition
statistics at the committee level. Because our
organization relies strongly on volunteers,
it is important to recognize members who
volunteer and not lose sight of the importance
of adding volunteer members.
New to the committee, serving until the 2009
Annual Conference in Phoenix, are:
Shawna Greenway – Heartland Chapter
Nick Marrangoni – New England Chapter
Sue Eckler-Kerns – Mid-Atlantic Chapter
Donna Benard – South Central Chapter
4) Implement and oversee annual chapter
officer training. We provide training to
the chapter officers during the Annual
Conference and provide a network of support
for the chapter officers throughout the year
We want to thank these volunteers for their
commitment to our organization and ensuring
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Committee Corner
that Chapter Relations continues to be a
valuable committee within AICP.
Dan Hurley
Greg Theobald
Co-chairs
March 28, 2008
•Working with the Insurance Regulatory
Examiners Society (IRES) to further the
strategic partnership the AICP is developing
with it.
• Identifying other organizations that the AICP
can partner with to increase awareness of
the AICP and develop a mutually beneficial
relationship for both organizations
Community Marketing
A little bit of this, a little bit of that, and a whole
lot of promoting the AICP
What do the AICP Scholarship Program, the AICP
display at the National Association of Insurance
Commissioners (NAIC) Quarterly Meetings, the
partnership with other organizations, the charitable
contribution of AICP funds and the AICP signage
on display at the Annual Conference have in
common? Community Marketing is responsible
for all of them. That’s right, no task is too unusual.
As long as it promotes the AICP, Community
Marketing will handle it.
•Continue the AICP’s tradition of supporting
educational programs designed to promote
insurance education
We think 2008 will be a great year for
Community Marketing, and we look forward to
doing a little bit of this, a little bit of that and a
whole lot of promoting the AICP!
Nick Marrangoni
Judy Wickens
Co-Chairs
Most of you have seen the work Community
Marketing does, although you may not have
known who did it. Community Marketing’s
mission is to “identify opportunities to promote
awareness about the AICP and enhancing
relationships with other professional insurance
organizations.” This year we have several new,
enthusiastic committee members, and we’re
excited to be taking on even more tasks to
promote the AICP.
Government and Industry
Relations Committee (GIR)
The Government and Industry Relations
Committee (GIR) is committed to increasing
regulator awareness of, and involvement in,
AICP. GIR has the following charges:
Some of the things we plan to work on in 2008
are:
•Enhance commissioner and state Department
of Insurance (DOI) personnel involvement at
AICP functions
• Promoting the scholarship program and
increasing the number of applicants we had
over last year
•Increase regulator membership. Our goal for
2008 is 129 regulator members, which would
be a 7 percent increase
•Cultivating and enhancing our longstanding
display at the quarterly NAIC meetings and
turning the prospects we receive at these
meetings into members.
•Work with state regulators to distribute state
DOI bulletins to AICP members
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Committee Corner
•Assist the Annual Conference Planning
Committee by coordinating invitations to
regulator speakers
March 28, 2008
•The Regulatory Community Organization
Relations Subcommittee works to establish,
enhance, and maintain relationships with the
regulatory community, such as NAIC, the
National Conference of Insurance Legislators
(NCOIL), and the Interstate Insurance
Product Regulation Commission (IIPRC).
Subcommittee members participate on various
IRES subcommittees and collaborate with
the IRES executive committee. GIR recently
assisted the Minnesota Department of
Commerce with a survey.
•Establish and enhance relationships with the
regulatory community through contacts with
organizations such as the National Association
of Insurance Commissioners (NAIC), the
Insurance Regulatory Examiners Society
(IRES), and the IRES Foundation
•Collaborate with the NAIC and state DOIs on
speed to market activities, such as updates on
SERFF, the activities of the SERFF product
steering committee, the NAIC Operational
Efficiencies Working Group, and the Interstate
Insurance Product Regulation Commission
•The GIR co-chairs are working on the April
regulator meeting in Boston, where insurance
commissioners from the Northeastern states
will be invited to meet with the AICP Board.
•Coordinate a meeting with the AICP Board and
selected insurance commissioners and staff to
promote the AICP
The GIR co-chairs thank the GIR members
for making all of this happen. Regulators
and industry members working together can
accomplish all of the goals set for 2008 and
succeed in making AICP the premier insurance
compliance organization.
Erica Brownell
Bill Douglas
Kim Kennedy
Jan Vitus
Co-chairs
GIR has a large and enthusiastic membership.
The committee does its work through several
subcommittees:
•The Membership Subcommittee contacts
regulators who spoke at AICP chapter or
Annual Conference meetings to encourage
them to join AICP, follows up on membership
nonrenewals, and welcomes new regulator
members.
•The National/Chapter Coordination
Subcommittee maintains and distributes a
regulator speaker database.
•The DOI Alerts Subcommittee contacts
states to obtain e-mail lists or list-SERVS to
inform AICP of new Department of Insurance
releases. It oversees, distributes, monitors and
tracks DOI alert activity and develops content
for DOI Alerts and The Journal.
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Membership Corner
March 28, 2008
movies, quilting (specializing in lap quilts), and
baking.
AICP Member in the News
Susan Byrnes
Thank you, Susan, for sharing your talents with
us, and making the Association of Insurance
Compliance Professionals a better organization!
Susan Byrnes is in her second year of
volunteering for the Website Committee. You
wouldn’t know it, because things go so smoothly,
but she also monitors the Discussion Forum
on the AICP Website. By making sure that
discussions are taking place under the correct
categories, Susan helps make the Discussion
Forum one of the most valuable and most-used
aspects of our Website.
Jan Vitus
Northwest Region
AICP Member in the News
Larry Wilk
Susan has been a member of AICP since
2000. In addition to working for the Website
Committee, she furthers her spirit of
volunteerism with the South Central Chapter.
She is currently the treasurer and previously
served as secretary for two consecutive terms.
As if that wasn’t enough, Susan has been
serving on the Nominating committee since last
year.
Some of you may not
recognize the name,
but once you see the
photo, I know you will
say “I know that guy,”
if for no other reason
than, standing at 6 feet,
5 inches, he is hard to
miss!
Susan attended the University of Nebraska,
and is a notary public in the great State of
Texas. As an employee of what is now New
York Life for more than 17 years, she has
acquired experience in several areas of the
insurance industry. She began in the claims
sector, working with life, major medical,
disability, and self-funded products. The eventual
migration of her employer from a third party
administrator to a long-term care division of a
national company allowed Susan to continue
her growth. Her transition from service-oriented
positions to compliance in 2000 afforded her
new opportunities to expand her horizons and
learn yet another facet of the insurance industry
with a focus on long-term care. Today, Susan is
responsible for advertising filing and is the lead
staffer on most form filings in 51 jurisdictions.
Larry is a reliable and instrumental volunteer for
AICP’s Great Lakes Chapter. He has helped out
in a variety of ways, ranging from planning local
chapter meetings to regularly handling the name
badges. He has also pursued various chapter
officer positions. At the national level, he is active
on the Bylaws Committee.
One of the interesting things about Larry is that
he has worked on both sides of the regulator/
regulated fence. This is how he described his
work experience:
“I started my insurance career in 1978 with
the Independent Statistical Service (ISS) as
a statistical analyst and was promoted to
supervisor three years later. It was a fun place to
work at that time.
Her interests outside of insurance include action
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Membership Corner
I live with my wife, Adriane, and three children in
the garden spot of America, Lakemoor, Illinois.
When I’m not doing something sport-wise
myself, I watch my kids play. My older boy plays
football, and my daughter plays soccer. She
managed to talk me into being the coach. Finally,
I plant a vegetable garden every year. Weeding
and digging are great exercise.”
In 1987, my boss (guess he wanted to get
rid of me) showed me an ad in the National
Underwriter for a position with the Vermont
Insurance Department. I got the job and, two
months before being married (I did come back
for the wedding), I packed up the car and moved
to Vermont. I didn’t know anyone there except,
ironically, the person who hired me at ISS back
in 1978. He had left a few months after hiring me
and eventually ended up in Vermont.
With all these activities, it’s amazing that Larry
finds time to come to work everyday!
I stayed in Vermont for almost eight years, and
it was a great experience. Working for a small
department, I got to be involved in a variety of
activities plus the added bonus of living in such
a beautiful part of the country. I think everyone
should spend some time living in a different
region of the country. You learn a lot and gain an
appreciation of that part of the country and its
culture and customs.
All Great Lakes chapter members know that they
are fortunate to have worked with and gotten to
know Larry as a friend. We hope that you can
get to know him and become a friend as well.
Jim Morgan
Good Friend of Larry’s
Great Lakes Chapter Treasurer
In 1995 I moved back to the Chicago area to
take a commercial lines compliance position with
Kemper and am now the compliance manager
at Universal Casualty Company. I’ve been at
Universal now for about three years, and it’s
exciting to be part of a growing company.
What is the
Milliman difference?
Since our founding six decades
ago, we’ve combined
unparalleled expertise, an
uncommon level of professional
freedom, and industry and
regulatory relationships that
enable us to provide superior
service to our clients.
March 28, 2008
What forms and compliance projects can we handle for you?
· Draft forms and state specific form variants
· File forms electronically via SERFF with EFT functionality
· Perform competitive and state requirements research
· Provide special expertise in getting forms approved in difficult states
How Milliman can add value for your actuarial services:
· Innovative product design (LTC combination, GLWB, and other products)
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· Mortality reviews
Contact us so we can make a difference for you.
Jeff Kulesus 312.499.5635 Hazel Delane 312.499.5728
[email protected]
[email protected]
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Central Region News
Editor: Art Bowden, Horace Mann Insurance Company
217-788-5114, [email protected]
Editor: Bonnie Blue, Principal Financial Group
Great Lakes Chapter: Illinois & Wisconsin
Heartland Chapter: Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota
Midwest Forum: Indiana, Kentucky, Michigan, Ohio, West Virginia
IA Permits Voiding of Beneficiary Designation Following Divorce
Iowa SF 540, passed in 2007, provides that a beneficiary designation of a spouse is voided by the divorce
decree, subject to certain exceptions. The law applies to both life and annuities and creates a new section,
598.20A Beneficiary Revocation.
To find the text of the law online, use the link below and search for SF 540.
http://www.legis.state.ia.us/
Bonnie Blue, FLMI, ACS, AIRC, ACP
IL Creates Rebuttable Presumption of WC Coverage for First Responders
Illinois House Bill 928, effective January 1, 2008, modified the Illinois Workers Compensation Act and the
Workers’ Occupational Diseases Act. It created a rebuttable presumption that illnesses arising directly or
indirectly from any blood-borne pathogen, lung or respiratory disease, heart or vascular disease, or cancer
shall be presumed to arise out of the employment of a firefighter, emergency medical technician (EMT),
or paramedic. The presumption also applies to any hernia or hearing loss suffered by a firefighter, EMT,
or paramedic. The legislation requires the first responder to have been employed for a period of five years
before filing an application for adjustment of claim with the Worker’s Compensation Commission.
The legislation was enrolled as Public Act 95-0316. It may be viewed online at
http://www.ilga.gov/legislation/publicacts/fulltext.asp?Name=095-0316.
Art Bowden, AIC
IL Increases Residential Limits for Mine Subsidence Coverage
Illinois Senate Bill 555, effective January 1, 2008, empowered the Illinois Mine Subsidence Insurance
Fund (IMSIF) to establish the maximum amount of reinsurance available per residence, living unit, and
commercial building. Previously these limits were set by statute and required legislative action to modify.
IMSIF Circular 02-(11/2007) sets the maximum limit for any one residential structure, excluding “living
units,” at $750,000. For policies insuring “living units,” the maximum limit is $15,000 per policy. The new
maximum limits are available on all residential policies issued or renewed on or after April 1, 2008.
The mine subsidence limit of liability is the amount of coverage provided by the primary insurer on the
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residential structure or living unit, but not more than these respective maximum limits.
IMSIF Circular 03-(11/2007) provides rates for the higher maximum limits of liability established by the
Fund in IMSIF Circular 02-(11/2007). These rates are the same for all counties and all construction types.
For residential structures other than living units the rates are $21 for the first $10,000 of coverage, plus
$3 for each additional $10,000 or fraction thereof, up to $350,000, plus $2 for each additional $10,000 or
fraction thereof, up to $750,000. For living units the rate is $12 for $15,000 coverage, or fraction thereof
and no higher limits are available. Circular 03-(11/2007) also includes a schedule of coverage amounts
and premiums for residential structures.
IL Senate Bill 555 was enrolled as Public Act 95-0334, which may be viewed online at
http://www.ilga.gov/legislation/publicacts/fulltext.asp?Name=095-0334.
IMSIF Circulars 02-(11/2007) and 03-(11/2007) are available on the member-only, password-protected
portion of the IMSIF Website at http://www.imsif.com/member/member_circulars.htm. To become a
member and obtain a password, go to http://www.imsif.com/new.htm.
Art Bowden, AIC
IL Clarifies Requirements Related to Subrogation
Illinois Administrative Code title 50, §2020, was recently amended to clarify the uniform policy provision
requirements related to subrogation or the right to reimbursement provision. Modified language must be
included in all policy forms, and the regulation includes variations for circumstances when the insurer has
or does not have the right to first reimbursement. The amendments permit insurers to be reimbursed first
for benefits paid to a covered person for damages caused by a negligent third party. The amended rule
was effective October 22, 2007. A copy of the adopted regulation may be found in the Illinois Register,
Volume 31, Issue 44, page 110, at the following location
http://www.cyberdriveillinois.com/departments/index/register/register_volume31_issue44.pdf
IL Provides for Ancillary Provider Reimbursement
In Bulletin 2007-04, the Illinois Division of Insurance has described an insurer’s “contractual and statutory
responsibility” to cover an insured for services performed by a non-contracted or ancillary provider. The
bulletin says this coverage must be offered at no greater cost than if such services had been provided by
a contracted provider, if the insured makes a good-faith effort to use a contracted provider, and if there is
not equal access to a contracted provider.
The bulletin is based on the Illinois Health Care Reimbursement Act (215 ILCS 5/370i) and an
implementing regulation (50 IAC 2051). The reimbursement requirements were issued in response to a
growing number of complaints the insurance division received from health care consumers. According to
DOI staff, the requirements apply to all contracts presently in place.
The bulletin may be found online at
http://www.idfpr.com/DOI/cb/CB2007-02.pdf
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IN Sets P&C Producer Fees
Illinois Insurance Commissioner James Atterhholt has described P&C producer fees considered to be
reasonable in Department of Insurance Bulletin 157, dated October 25, 2007. The bulletin was issued in
reaction to House Bill 1452, which took effect July 1, 2007, and which allows a P&C producer to charge
a reasonable fee for services. The amount of the fee is subject to the approval of the commissioner, and
requests to charge fees not listed in the bulletin should be sent to the commissioner in writing.
Bulletin 157 does not apply to personal lines consulting agreements. A P&C producer may use a personal
lines consulting agreement, as outlined in IC 27-1-15.6-23, for accounts that have services that exceed
the specific limits outlined in the bulletin or services that fall outside of the purview of the bulletin. The form
of a personal lines consulting agreement must be approved by the Commissioner as outlined in IC 27-115.6-23(i) and must indicate whether the producer is to receive commissions in addition to fees.
The bulletin is available online at
http://www.in.gov/idoi/lookAtTheLaw/pdfs/Bulletin157.pdf.
Art Bowden, AIC
IN Introduces Legislation on Use of Credit
Indiana House Bill 1358 was introduced January 16, 2008. As introduced, the bill would amend
Section 27-2-21-16 of the Indiana Code to extend antidiscrimination and civil rights statutes. It contains
prohibitions against using credit information to underwrite or rate risks under certain circumstances
and says an insurer that uses credit information for this purpose may not use an insurance score that is
calculated using sexual orientation, gender identity, ancestry, age, or disability.
The text of proposed House Bill 1358 may be viewed online at
http://www.in.gov/legislative/bills/2008/IN/IN1358.1.html.
Art Bowden, AIC
KY Establishes Criteria for Accelerated Death Benefits
Kentucky regulation 806 KAR 12:160 establishes criteria for accelerated death benefits in individual
life insurance forms. It was adopted November 2, 2007, and took effect January 1, 2008. A copy of the
regulation may be found online at http://www.lrc.ky.gov/kar/806/012/160.htm
KY Adopts Annuity Disclosures Regulation
Kentucky regulation 806 KAR 12:150 deals with annuity disclosures and is substantially similar to the
NAIC model regulation. It was adopted November 2, 2007 and took effect January 1, 2008. A copy of the
regulation may be found online at http://www.lrc.ky.gov/kar/806/012/150.htm
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KY Provides Life Insurance Illustration Formats and Standards
Kentucky regulation 806 KAR 12:140 adopts provides formats and standards for life insurance illustrations
and specifies required disclosures for using them. It was adopted November 2, 2007, and took effect
January 1, 2008. A copy of the regulation can be found online at http://www.lrc.ky.gov/kar/806/012/140.htm
KY Adopts Standards for Annuity Recommendations to Consumers
Kentucky regulation 806 KAR 12:120 establishes standards for recommendations to consumers on
annuities. It was adopted November 2, 2007, and took effect January 1, 2008. A copy of the regulation
may be found online at http://www.lrc.ky.gov/kar/806/015/120.htm
KY Sets Rules for Annuity Nonforfeiture Provisions
Kentucky regulation 806 KAR 15:070 follows the NAIC model regulation in establishing requirements to
implement annuity nonforfeiture provisions. It was adopted November 2, 2007, and took effect January 1,
2008. A copy of the new regulation may be found online at http://www.lrc.ky.gov/kar/806/015/070.htm
KY Adopts Standards for Universal Life Insurance
Kentucky regulation 806 KAR 15:060 adopts standards for universal life insurance with deviations from
the NAIC model regulation. It was adopted November 2, 2007, and took effect January 1, 2008. A copy of
the regulation may be found online at http://www.lrc.ky.gov/kar/806/015/060.htm
KY Adopts Procedures for Life Insurance Rate and Form Filings
Kentucky regulation 806 KAR 14:005 amended the regulation on rate and form filing for life insurers to
establish uniform procedures for such filings, effective November 2, 2007. A copy of the regulation may be
found online at http://www.lrc.ky.gov/kar/806/014/005.htm
KY Adopts Life Insurance Disclosures Regulation
Kentucky regulation 806 KAR 12:170 establishes requirements for insurers to deliver information to
purchasers of life insurance to help them to select the most appropriate plan for their needs and to help
them to better understand basic features of the policy under consideration. This regulation follows the
NAIC model regulation with some deviations. It was adopted November 2, 2007, and took effect January
1, 2008. A copy of the regulation may be found online at http://www.lrc.ky.gov/kar/806/012/170.htm
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MN Reduces Time Period for Conditional Renewals of Commercial P&C Policies
Minnesota has reduced the number of days required for renewing a commercial liability and/or property
policy at less favorable terms to 30 days before the expiration of the policy. Previously the requirement was
60 days.
The change took effect August 1, 2007, and was explained in Bulletin 2007-11, issued October 16, 2007,
by the Minnesota Department of Commerce. To find the bulletin online, use the link below and do a search
for Bulletin 2007-11. http://www.state.mn.us/portal/mn/jsp/home.do?agency=Commerce
Art Bowden, AIC
MN Mandates SERFF Filings
The Minnesota Department of Commerce has notified all insurance companies, rate service
organizations, data service organizations, and other organizations licensed to do business in Minnesota
that effective April 1, 2008, all filing fees for insurance product rate, rule, and form filings must be
submitted via SERFF Electronic Funds Transfer (EFT).
The announcement was made in Bulletin 2007-12, issued October 30, 2007. To find the bulletin online,
use the link below and do a search for Bulletin 2007-12.
http://www.state.mn.us/portal/mn/jsp/home.do?agency=Commerce
Art Bowden, AIC
MO Maintains WC Tax/Surcharge Rates
The Missouri Division of Workers’ Compensation has announced that the administrative tax placed
on workers’ compensation insurance premiums and the workers’ compensation surcharge placed on
deductible plan policyholders will each remain at 1 percent for calendar year 2008. The Second Injury
Fund surcharge will, likewise, remain at 3 percent for calendar year 2008. Revenue derived from the
workers’ compensation tax /surcharge is used to fund expenses associated with administering the
workers’ compensation program. The revenue generated by the Second Injury Fund surcharge is used to
pay benefits to injured workers who had previous disabilities.
The department’s announcement, which was made October 29, 2007, may be viewed online at
http://www.dolir.mo.gov/wc/documents/Tax_Surcharge_Announcement_2008.pdf.
Art Bowden, AIC
MO Department of Insurance Partially Delays Implementation of H.B. 818
The Missouri Department of Insurance has delayed the implementation of portions of HB 818, which
affects several areas of group health insurance, because of potential conflicts with federal HIPAA and
ERISA regulations. In Bulletin 07-08, issued December 3, 2007, the department said it is working with
federal agencies to develop a solution that prevents legal and financial problems for insurers.
The potential areas of conflict identified in the bulletin include:
• Possible conflicts with ERISA, IRS and HIPAA discrimination laws. ERISA and HIPAA guarantee issue
requirements may also be impacted.
•Possible conflicts with IRS laws and ERISA depending on how coverage of emancipated dependents is
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paid and by whom.
• Potential discrimination concerns with IRS laws, ERISA, and HIPAA depending on what is considered
employer dollars when it runs through a Section 125 cafeteria POP plan and what type of insurance plan
is being paid for by employer dollars (individual or group).
The extension of dependent age included in HB 818 is not problematic and is being enforced as of the
original effective date of the law. However, until other issues are resolved, the department will not propose
any new rules or enforce the insurance obligations under HB 818.
The bulletin may be found online at http://www.insurance.mo.gov/laws/bulletin/07-08.htm
MO Revises Requirements for Suicide Clause
Missouri revised life insurance statute 376.620 effective August 28, 2007, regarding suicide provisions. The
new regulation requires carriers to refund all premiums if an insured dies within one year of the effective
date of coverage.
A copy of the revised statute may be found online at
http://www.moga.mo.gov/statutes/C300-399/3760000620.HTM
Peggy Schwartz
Boston Mutual
New England Chapter
NE Appoints Ann Frohman as Commissioner
Nebraska Governor Dave Heineman appointed Ann Frohman to serve as the director of the Nebraska
Department of Insurance on November 28, 2007. Frohman had served the department as acting director
since October 2007 and was appointed deputy director in January 2004.
The announcement of the appointment may be found online at
http://www.governor.nebraska.gov/news/2007_11/28_ann_frohman.html
ND Revises Unfair Discrimination Rule
Effective January 1, 2008, section 45-03-10-04 of the North Dakota Administrative Code has been revised
to remove denying individual coverage to a married person who elects not to cover his or her spouse or
other dependents and an example of unfair discrimination. However, if any dependents other than the
spouse are to be covered, all dependent children may be required to be covered.
Section 45-03-10-04 as revised may be viewed online by going to
http://www.legis.nd.gov/information/acdata/html/45-03.html and opening Section 45-3-10.
Art Bowden, AIC
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OH Releases Medical Liability Closed Claim Report
The second annual Ohio Medical Liability Closed Claim Report was released January 22, 2008. Data
collected from entities providing medical malpractice coverage to Ohio health care providers and health
care facilities show that 4,004 medical malpractice claims were closed in 2006. Claims that generated an
indemnity payment, which is the amount of compensation paid on behalf of each defendant to a claimant,
averaged $288,080 per claim.
Ohio law requires all entities that provide medical malpractice insurance in Ohio -- including authorized
insurers, surplus lines insurers, risk retention groups and self-insurers -- to report closed claim data to the
Department of Insurance. The specific information filed by each reporting entity is confidential and is not
subject to public record requests. The department is required to prepare an annual report summarizing the
closed claim data on a statewide basis.
Some key findings in the report include:
• Total Claims: A total of 4,004 claims was reported for 2006 by 93 entities. Authorized insurers reported
the majority of the claims, 2,495. Self-insured entities reported 1,283 claims, surplus lines insurers
reported 169 claims, and risk retention groups reported 57 claims. For 2005, a total of 5,051 claims was
reported by 91 entities.
• Indemnity Payments: Almost 80 percent of medical malpractice claims resulted in no payment to a
claimant. A total of 3,210 claims had no indemnity payments while 794, or 20 percent, closed with an
indemnity payment. The total amount paid to claimants was $228,735,572, an average of $288,080 per
claim for those claims that generated an indemnity payment. Similarly, in 2005, 20 percent of the claims
closed with an indemnity payment, averaging $269,374 per paid claim.
• Claim Expenses: Although most medical malpractice claims closed with no payments to claimants,
almost all claims generated expenses for investigation and defense. These expenses totaled
$88,131,139, an average of $25,672 per claim. In 2005, the average expenses per claim were $24,443.
The Ohio 2006 Medical Liability Closed Claim Report may be viewed online at
http://www.ohioinsurance.gov/legal/reports/MedMal_Closed_Claim_2008.pdf.
Art Bowden, AIC
OH Rescinds 17 Bulletins
Ohio Bulletin 2007-2, issued December 21, 2007, rescinded 17 Department of Insurance bulletins that are
outdated or are covered by subsequent statutes or rules.
Bulletin 2007-2 may be found online at http://www.ohioinsurance.gov/legal/bulletins/2007-2.htm.
Art Bowden, AIC
SD Amends Producer Licensing Requirements
South Dakota Regulation 20:06:18:01 repealed the requirement for reporting continuing education hours
completed for producer licenses. It also added new requirements for license renewal, electronic renewal
fee submission, and electronic course approval, and changed the license renewal fee due date to April 30.
The regulation, which took effect January 29, 2008, may be found online at:
http://www.state.sd.us/drr2/reg/insurance/Legal/rules/20%2006%2018%20.pdf
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SD Adds Exemption for Term Life Conversion
South Dakota Regulation 20:06:09:40 has been amended to add a new exemption for a term conversion
of life insurance and annuities. This brings the state regulation more in line with the National Association
of Insurance Commissioners (NAIC) Replacement of Life Insurance and Annuities Model Regulation.
The amended regulation, which took effect January 28, 2008, may be found online at
http://www.state.sd.us/drr2/reg/insurance/Legal/rules/20%2006%2008%2040%20.pdf
SD Amends Long-Term Care Insurance Regulation
South Dakota Regulation 20:06:21:75 amends the state’s long-term care insurance regulation to correct a
cross reference connected to agent training for the long-term care partnership and makes other technical
corrections.
The amendment to the regulation, which took effect January 29, 2008, may be found online at
http://www.state.sd.us/drr2/reg/insurance/Legal/rules/20_06_21%2075.pdf
WV Revises Policy on Insurance Scoring
West Virginia Insurance Commissioner Jane L. Cline has developed an internal procedure for the review
of filings which rely in any way upon the use of credit reports or insurance scoring. She described the
guidelines to be used for reviewing such filings in Information Letter No. 142B, issued December 13, 2007.
Informational Letter No. 142B may be viewed online at
http://www.wvinsurance.gov/info_letters/word/info_142b.doc.
Art Bowden, AIC
WI Summarizes New Laws Affecting Disability Insurers
The Wisconsin Office of the Commissioner of Insurance has issued a bulletin summarizing several
provisions included in recently enacted legislation that affects disability insurers. Act 20 addresses the
state’s Long-Term Care Program, as well as claim processing, restriction or termination of an insured’s
medical coverage, and chiropractic services. Act 36 addresses coverage of students who are on a medical
leave.
The bulletin, which was issued December 19, 2007, may be found online at
http://oci.wi.gov/bulletin/1207act20_36.htm
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WI Releases Quarterly Insurance Newsletter
The Wisconsin Office of the Commissioner of Insurance has released the Winter 2008 edition of the
Wisconsin Insurance News. It includes a commentary from Commissioner Sean Dilweg, updates on
producer licensing, a legislative update, and an article on long-term partnerships.
The newsletter may be viewed online at http://oci.wi.gov/ins_rev/in0108.pdf
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Gulf States Region News
Editor: Lindsay Cleveland, RSUI Group, Inc.
Editor: Rich Fidei, Esq.
Gulf Chapter: Alabama, Florida, Georgia, Mississippi, North Carolina, South Carolina, Tennessee
Puerto Rico (PR)
FL Issues Insurer Tax Return Forms
The Florida Department of Revenue has issued forms that must be used by insurers to complete tax returns
and reports as of January 1, 2008. Requirements for attorney or executive officer affidavits on these forms are
described by the new Rule, 12B-8.003 Tax Statement; Overpayments. The department also stipulated how
refunds will be made to insurers for tax overpayments.
Department of Revenue Forms for Insurance Premium Taxes
• (5)(a) DR-907 Florida Insurance Premium
• (b) DR-907N Information for Filing Insurance Premium
• (6)(a) DR-908 Insurance Premium Taxes and Fees Return for Calendar
• (b) DR-908N Instructions for Preparing Form DR-908 Florida
• (7) DR-350900 2007 Insurance Premium Tax Information for Schedules XII and XIII, DR-908
The rule may be found online at https://www.flrules.org/gateway/ruleNo.asp?id=12B-8.003
Rich Fidei
FL Finalizes Sinkhole Dispute Resolution Guidelines
The following rules have been finalized and adopted by the Florida Department of Financial Services regarding
alternative procedures for resolution of disputed sinkhole insurance claims, effective November 4, 2007.
• Rule 69J-8.001 Outlines alternative procedures for resolution of disputed sinkhole insurance claims.
Rule text: https://www.flrules.org/gateway/ruleNo.asp?id=69J-8.001
• Rule 69J-8.002 Definitions. Defines certain relevant terms used by the Code Chapter.
• Rule 69J-8.004 Qualification and Certification of Neutral Evaluators. Sets forth administrative processes
whereby certain persons may qualify and be certified as Neutral Evaluators applicable to sinkhole-related
insurance claims.
• Rule 69J-8.006 Notice of Program. Requires insurers to provide notice of insureds’ rights to participate in an
alternative procedure for resolution of disputed sinkhole insurance claims. The notice must be provided in
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writing and accompanied by the pamphlet “Resolving Disputed Sinkhole Insurance Claims,” (Form Number
DFS-I4-1788).
• Rule 69J-8.007 Request for Evaluation. Outlines the process for requesting a neutral evaluation of a sinkhole
insurance claim.
Rich Fidei
FL Adopts Guidelines for Reporting Requirements
The Florida Office of Insurance Regulation (OIR) has adopted the following guidelines in regard to insurer
reporting requirements:
• Rule 69O-171.002, .008; Reporting Requirements provides a list of data that property and casualty insurers
must report to the Florida Office of Insurance Regulation on an annual basis by April 1 for the preceding year.
The data are broken down by type of insurance, and the rule outlines required compliance procedures. The
rule adopts two forms: data entry and instructions.
• Rule 69O-137.001; Annual and Quarterly Reporting Requirements adopts the 2007 National Association
of Insurance Commissioners’ (NAIC) Quarterly and Annual Statement Instructions and the 2007 NAIC
Accounting Practices and Procedures Manual, which is adopted annually by the Florida Office of Insurance
Regulation.
• Rule 69O-138.001; Annual and Quarterly Reporting Requirements annually adopts the 2007 NAIC Financial
Condition Examiners Handbook.
Rich Fidei
FL Adopts Rule on Military Sales Practices
The Florida Office of Insurance Regulation has adopted Rule Number 69O-142.200 Military Sales Practices,
setting forth standards to protect active duty service members of the United States Armed Forces from certain
insurance sales practices.
The text of the rule, which took effect November 1, 2007, may be found online at
https://www.flrules.org/gateway/ruleNo.asp?id=69O-142.200
Rich Fidei
FL Bars Unfair Discrimination Because of Travel Plans
The Florida Office of Insurance Regulation (OIR) has adopted Rule 90-125.003 barring insurers from refusing
coverage of any kind to individuals based upon certain travel histories or future travel plans unless it can be
shown that insureds who have traveled or intend to travel are a separate actuarially supportable class whose
risk of loss is different from those insureds who have not traveled and do not intend to travel.
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On December 21, 2007, the Office of Insurance Regulation received a petition for a waiver from the
requirements of the rule relating to travel to Iraq and Afghanistan due to the ongoing fight against terrorist
factions in those two countries.
The texts of the rule and the petition for waiver may be found online at
https://www.flrules.org/gateway/ruleNo.asp?id=69O-125.003
Rich Fidei
FL Establishes Procedures for Life/Health Rate and Form Filing
Florida Rule 69O-149.003 Rate Filing Procedures establishes standards to be used by insurers in filing health
insurance policy forms. The following are required for Individual Polices and Group Policies and Certificates:
• A brief letter explaining the type and nature of filing
• Form OIR-B2-1507, “Office of Insurance Regulation Life and Health Forms and Rates Universal Standardized
Data Letter”
• Form OIR-B2-1507A, “Office of Insurance Regulation Life and Health Forms and Rates Universal
Standardized Data Letter Instruction Sheet”
• The actuarial memorandum as required by Rule 69O-149.006
• Rate pages defining proposed rates, rating factors and determining methodologies
Effective January 16, 2008, filings shall be submitted electronically to https://iportal.fldfs.com/.
The rule is available online at https://www.flrules.org/gateway/ruleNo.asp?id=69O-149.003
Rich Fidei
FL Annuity Contracts Rule Reflects Difference Between “Preferred” and “Standard” Lives
Florida Rule 69O-162.203 Adoption of 2001 Commissioners Standard Ordinary (“CSO”) Preferred Mortality
Tables for Determining Reserve Liabilities for Ordinary Life Insurance recognizes and prescribes the use of
mortality tables that reflect differences in mortality between “preferred” and “standard” lives in determining
minimum reserve liabilities in accordance with the Florida Administrative Code. This rule applies to policies
issued on or after January 1, 2007 and took effect January 16, 2008.
The rule may be found online at https://www.flrules.org/gateway/ruleNo.asp?id=69O-162.203
Rich Fidei
FL Court Says Insurers Need Not Release PIP Logs to Insureds or Assignees
In a unanimous opinion issued December 21, 2007, the Fifth District Court of Appeal has held that Personal
Injury Protection (PIP) insurers are not required to release their PIP logs to an insured or his/her assignee. The
decision in Geico v. Florida Emergency Physicians relied on an earlier Third District Court of Appeal decision,
which determined that the PIP statute neither requires nor addresses “the insured’s right to access documents
prepared internally by the insurer” pre-suit. A similar case involving the same central issue is still pending
before the Fifth District.
The text of the opinion is available online at
http://www.cftnews.com/uploads/1595_Geico v Florida Emergency Physicians.doc
Rich Fidei
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FL Legislature Lowers Reinsurance Collateral Requirement
During the 2007 Regular Session, the Florida Legislature passed a law that modifies reinsurance requirements
by giving the insurance commissioner the ability to establish lower collateral requirements for foreign reinsurers
that are highly rated (by A.M. Best or Moodys, for example) and are financially sound. Recently approved for
publication by the Florida Cabinet, Proposed Rule 69O-144.005: Credit for Reinsurance implements this new
legislation by setting up a procedure by which a reinsurer can become an “eligible reinsurer” and receive the
benefit of this new law, as well as to allow a primary insurer to receive credit when it purchases reinsurance
from an eligible reinsurer. Rule development continues on this significant issue.
The text of the proposed rule is available online at
https://www.flrules.org/gateway/readFile.asp?sid=1&tid=4839735&type=1&File=69O-144.005.htm
Rich Fidei
FL Citizens to Offer Higher Windstorm Mitigation Credits
Florida’s Citizens Property Insurance Corporation will begin offering higher windstorm mitigation credits for
residential properties in 2008. Citizens worked closely with the Office of Insurance Regulation (“OIR”) to
establish appropriate credit caps in order to prevent scenarios in which the total of all credits results in negative
rates that trigger minimum premium rules.
For more information about the credits, use the link below and scroll down the menu on the left to find the link
to Agenda Item 06Ab. Windstorm Mitigation Credits.
http://www.citizensfla.com/about/mDetails_boardmtgs.cfm?event=177&when=Past
Rich Fidei
FL Citizens Files Changes to Eligibility, Cancellation Rules
Florida’s Citizens Property Insurance Corporation recently filed changes to its eligibility and cancellation rules
in an attempt to mitigate the negative impact of short-term surplus lines policies.
The rule changes include:
• Not permitting the transfer of coverage into Citizens for a period of six months if the current policy is written
for less than an annual term.
• Amending the short rate cancellation provision to apply to Citizens wind-only policies that are cancelled midterm and replaced with coverage that is issued for less than an annual policy term.
Rich Fidei
FL Increases Financial Responsibility Requirements for DUI Cases
The Florida Department of Highway Safety and Motor Vehicles has released information on the implementation
of House Bill 359, which increases financial responsibility requirements for DUI cases. Programming issues
prompted the department to extend the deadline for replacing an SR-22 form with an FR-44 form to February
2, 2008. The department issued a memo January 15, 2008, to outline the process it will follow on this issue,
including a notice that the state will use to notify drivers convicted of DUI of the new financial responsibility
requirements.
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The text of HB 359 may be found online at
http://www.myfloridahouse.gov/Sections/Bills/billsdetail.aspx?BillId=34931&SessionId=54
Links to the department’s memo on the process and notice to drivers may be found online at
http://www.cftnews.com/index.php?cmd=article&id=1651
Rich Fidei
FL Requires General Emergency Assessment Reports
All authorized insurers and residual market entities in Florida are required to file a General Emergency
Assessment Report with the Department of Financial Services. Data must be reported online each quarter
through the Industry Portal (I-Portal), which is located at https://iportal.fldfs.com/ifile/default.asp.
The reporting requirements may be found online at http://www.floir.com/Hurricanes/OIR-DO-1688rev102007.pdf
Rich Fidei
MS Assesses Penalty for Late Producer License Renewals
The Mississippi Insurance Department has announced that, effective December 31, 2007, individuals who fail
to renew their insurance privilege licenses in a timely manner will be assessed a 50 percent penalty in addition
to the normal privilege tax. The department made this announcement in Bulletin 2007-5, issued November 9,
2007, and stressed that there is no grace period.
The bulletin may be found online at http://www.doi.state.ms.us/bulletins/20075bull.PDF
Lindsay Cleveland
MS Commissioner Sets Nonadmitted Insurer Policy Fee Percentage
Mississippi Insurance Commissioner George Dale has set the nonadmitted policy fee for all premiums on
all policies written or renewed after January 1, 2008, through a nonadmitted insurer for any and all risks
on real property and contents at 5 percent. Mississippi Code 83-34-4 requires all agents placing insurance
through nonadmitted insurers to collect this nonadmitted policy fee on all premiums collected and remit to
the Mississippi Windstorm Underwriting Association (MWUA). The commissioner of insurance is required to
establish the specific percentage and may change this amount; however the percentage shall not be less than
five percent.
Commissioner Dale announced the fee in Bulletin 2007-6, issued December 10, 2007. The bulletin may be
found online at http://www.doi.state.ms.us/bulletins/20076bull.PDF
Lindsay Cleveland
PR Announces Deadlines for Filing Reports
Puerto Rico’s Office of the Insurance Commissioner has created an online calendar of deadlines for reports to
be filed by insurers during 2008. The calendar, which specifies which reports must be filed on specific dates,
may be found at http://www.ocs.gobierno.pr/ocspr/Portals/0/SI/Calendario/Calendar_Due_Date.xls
Lindsay Cleveland
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SC Announces Termination of Automobile Reinsurance Facility
The South Carolina Department of Insurance has notified all automobile insurers participating in the South
Carolina Reinsurance Facility (SCRF) that the facility is scheduled to terminate effective January 1, 2010. The
Department of Insurance is directing insurers to take immediate steps to identify all outstanding salvage and
subrogation receivables in order to help determine an appropriate timeframe to terminate the recoupment
surcharge.
To expedite this process, companies are directed to:
• Review all files of the company’s business ceded to the SCRF, including those from closed policy years, and
identify all outstanding salvage and subrogation receivables due SCRF.
• Provide a completed report form no later than January 31, 2008, indicating the policy number, the amount of
outstanding receivables, and the anticipated final receipt date of the outstanding receivable.
The report form may be duplicated and is to be numbered sequentially if a company is submitting multiple
pages. An officer of the company or the CFO must sign and certify a statement that the receivables outstanding
are accurate as of the date of the report.
If there are no outstanding salvage and subrogation receivables, the report must indicate “nothing is
outstanding.” Reports from all companies were to be received no later than January 31, 2008.
These developments were announced in Bulletin 2007-17, issued December 19, 2007. The bulletin may be found
online at http://www.doi.sc.gov/NR/rdonlyres/B7CAEE98-80D0-407D-AB58-34E291146D08/0/200717.pdf
Lindsay Cleveland
M i s s i o n S tat e m e n t
The Association of Insurance Compliance Professionals serves the
insurance compliance community by promoting relationships, exchanging
information, and providing learning opportunities within a dynamic
regulatory environment.
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Mid-Atlantic Region News
Co-Editor L&H, Betty Dabrowski, McHugh Consulting Resources Inc., 215230-7960, [email protected]
Co-Editor P&C, Anne T. Aponte, United States Aviation Underwriters Inc.
Mid-Atlantic Chapter: District of Columbia, Delaware, Maryland, New Jersey, New York City,
Pennsylvania, Virginia
DC Mandates SERFF, effective October 1, 2007
District of Columbia Department of Insurance, Securities and Banking Bulletin 07-IB-002-9/11 dated September
11, 2007, announced that the Department will require all insurance products forms and rate/rule filings to be
transmitted via SERFF.
Temporary exemption applications are included with the Bulletin which can be viewed online at:
http://disr.dc.gov/disr/frames.asp?doc=/disr/lib/disr/news_room/bulletins/SERFF_Mandated.pdf
You may also contact the NAIC SERFF Marketing Team for assistance at [email protected]
Anne Aponte
DC Adopts Military Sales Practices Rule
Effective January 1, 2008, the District of Columbia Department of Insurance, Securities and Banking set forth
standards to protect active duty service members of the United States Armed Forces from dishonest and
predatory life insurance and annuity sales practices. Practices declared false, misleading, deceptive or unfair
are outlined and specified and terms are defined.
For the full body of DCMR Title 26, Chapter 52, please access the following link:
http://www.amlegal.com/nxt/gateway.dll?f=templates$fn=default.htm$vid=dcr:free
Betty Dabrowski
DE Requires Mandatory Filing of Agent License and Renewal Applications
The Delaware Insurance Department issued Agents Bulletin No. 07-535 to inform insurers and licensees that
the Department is requiring electronic license and renewal applications. Applicants may apply online through
the National Insurance Producer Registry (NIPR) at http://www.nipr.com. The bulletin may be accessed online
at: http://www.delawareinsurance.gov/departments/documents/bulletins/bulletins.shtml
Anne Aponte
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DE Adopts New Insurance Credit Scoring Legislation
Delaware Regulation 906 prohibits insurance companies from using credit scores in setting of renewal
premiums in automobile, motorcycle, boat and personal watercraft, snowmobiles and other recreational
vehicles, homeowners, mobile-homeowners, manufactured homes and non-commercial dwelling fire insurance
for personal or family protection. Consumers may request the use of credit information in renewals if this
information would result in premium reductions. Consumers may also request a re-rating of their insurance
policy should their credit scores improve.
To find a copy of the bulletin online, use the link below to go to the State of Delaware Regulations website and
search for Regulation 906. http://regulations.delaware.gov/
Anne Aponte
DE Amends Requirements for Licenses to Sell Preneed Funeral Contracts
Effective January 1, 2008, persons licensed to sell preneed funeral contracts are required to file an
original corporate surety bond or an irrevocable letter of credit with the State Banking Department. Specific
requirements for the bonds and/or letters of credit are set out, as well as specified notices for changes or
cancellation and amounts.
For the full body of 2007 DE H 137, please access the following link:
http://legis.delaware.gov/LIS/LIS144.nsf/vwLegislation/HB+137?Opendocument
Betty Dabrowski
MD Stresses Rules on Restrictions Based on Location of Risk
The Maryland Insurance Administration issued Bulletin 08-01 on January 3, 2008 to advise that many property
and casualty carriers have failed to comply with Section 19-07, Refusals to Issue or Renew Insurance because
of location. Any insurer seeking to impose restrictions based on geographic location of the risk must comply
with this Section and make necessary filings to the Administration.
To find a copy of the bulletin online, use the link below to go to the home page of the Maryland Insurance
Administration and search for Bulletin 08-01. http://www.mdinsurance.state.md.us/sa/jsp/Mia.jsp
Anne Aponte
MD Amends Reporting Instruction for Bad Faith Complaints
Bulletin 08-02 issued January 15, 2008 advised of amended reporting procedures for Civil Complaints. Notice
of Disposition and Notice of Pending Complaint forms have been updated and must be used for insurer filings.
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Anne Aponte
MD Adds Subsection Regarding Bona Fide Wellness Programs
Effective October 1, 2007, the Insurance Section 27-210 of the MD Annotated Code was revised by adding
subsection (h) regarding bona fide wellness programs. According to the new subsection, it is not discrimination
or a rebate for a carrier to provide reasonable incentives for participation in a bona fide wellness program.
Terms are defined and conditions are outlined.
The full text of 2007 MD H 157 is available online at http://mlis.state.md.us/2007rs/billfile/HB0157.htm
Betty Dabrowski
MD Requires Carriers to Notify Parents of Criteria for Dependent Coverage
Bulletin 07-17 Amended, dated December 4, 2007, establishes notices that carriers are required to send to
parents of the criteria under which a child may remain eligible for coverage as a dependent at least 60 days
before the covered child turns 18. Carriers were required to provide the applicable notices by January 1, 2008..
Two different notices are provided in the Bulletin. One notice is applicable to individual and group contracts
that are subject to the new “child dependent” definition found in Insurance Article, §15-418, Annotated Code of
Maryland. It applies to individual and group health coverage issued by insurers, nonprofit health service plans
and health maintenance organizations. The second notice applies to individual, group or blanket contracts that
are subject to the notice requirements of §15-416 of the Insurance Article, but exempt from the requirements of
§15-418.
Betty Dabrowski
MD Establishes Premium Subsidy Program for Small Employer Health Benefit Plans
Effective November 19, 2007, the small employer health benefit plan premium subsidy program was enacted
in Maryland (MD INS § 15-12A.01 et seq). The purposes of the program and criteria for subsidy eligibility are
explained in the section. Also added is a provision at MD INS § 15-701 establishing a Health Care Coverage
Fund, which is defined and explained. MD INS § 15-1201, Health Insurance Reform, is amended by adding
definitions.
The text of 2007 MD S 6 a, which created the program, is available online at
http://mlis.state.md.us/2007s1/billfile/SB0006.htm
Betty Dabrowski
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NJ Gives Insurers More Investment Options
In a move to create a more favorable business environment for domestic insurers, New Jersey has enacted
legislation providing property and casualty insurers’ greater flexibility regarding their investments. Among other
advances, this new law gives insurers’ authority to invest in corporations which have not paid dividends during
the preceding five years, the ability to invest in foreign operations and flexibility as to the amount they can
invest.
Chapter 252 – 17:24-1 may be found online at http://www.njleg.state.nj.us/2006/Bills/PL07/252_.PDF
Anne Aponte
NJ Amends Minimum Standards for Medicare Supplement Coverage Rule
Effective January 7, 2008, any carrier in New Jersey submitting revised Medicare supplement rates that
implement a rate increase exceeding 7 percent must make a concurrent submission with the Department of
the Public Advocate, Division of Rate Counsel. The supporting documentation accompanying these filings shall
demonstrate that the anticipated loss ratio and the aggregate loss ratio are at least as great as the originally
anticipated loss ratio. Notices of requests for prior approval of rate increases shall be given to individual and
group policyholders so they are aware of the rate increase request. The Public Advocate may intervene in
Medicare supplement rate filing seeking a rate increase in excess of 7 percent by filing a Notice of Intervention
with the Commissioner no later than 30 days after its receipt of the rate submission. Should this happen, the
Commissioner automatically receives an additional 30 days to review the rate submission.
NJ ADC 11:4-23.11 and 23.13 may be found online at http://www.state.nj.us/dobi/adopt.htm
Betty Dabrowski
NJ Increases Maximum Death Benefit for Volunteer Firefighters
Effective January 2, 2008, any New Jersey fire district or municipality maintaining a volunteer fire department
may appropriate money to defray the costs for group life insurance and pay the premiums for such policies
providing that the maximum death benefit does not exceed the sum of $25,000. Any individual life insurance
policy paid for with fire district money may not have a benefit exceeding $16,500.
The full text of 2006 NJ S 229 may be found online at http://www.njleg.state.nj.us/bills/BillView.asp
Betty Dabrowski
NJ Reminds Organized Delivery Systems of Administrative Procedures
Bulletin 07-23, dated December 7, 2007, reminds Organized Delivery Systems (ODSs) and the insurance
companies, health service corporations and health maintenance organizations that contract with ODSs of
the penalty that can be levied on provider claims for medically necessary covered services for failure to
comply with the administrative procedures. Denying and withholding reimbursement on claims submitted by
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network providers for medically necessary services which would otherwise be covered but for the provider’s
failure to obtain required pre-certification, pre-authorization or acknowledgment of prior notice (administrative
procedures) violates N.J.A.C. 11:24B:5.2(c)6. ODSs that are not in compliance are required to submit for the
Department’s approval a Plan of Correction on or before February 1, 2008. The Department reserves the right
to impose penalties of not less than $250 or more than $10,000 per day for violations.
Bulletin 07-23 may be found online at http://www.state.nj.us/dobi/bulletin07.html
Betty Dabrowski
NJ Amends Provisions Pertaining to Funeral Insurance Policies
Effective December 17, 2007, a reference to a statutory definition of “premium fund interest rate” has been
added to the Funeral Insurance Policy definitions section. Also added is reference to the 2001 CSO Table in the
definition of “premium fund mortality rate.”
NJ ADC 11:4-25.2, -25.5 may be found online at http://www.state.nj.us/dobi/adopt.htm
Betty Dabrowski
NJ Creates Juvenile Smoker Mortality Tables
Effective December 17, 2007, composite and smoker and nonsmoker mortality tables for juveniles have been
established. N.J.A.C. 11:4-27.7 explains under what circumstances the tables and smoker and nonsmoker
classifications may be used for juveniles. The regulation also outlines when and how a classification of smoker
can be used and the requirements for the policy form and rates on fixed premiums.
NJ ADC 11:4-27.7 may be found online at http://www.state.nj.us/dobi/adopt.htm
Betty Dabrowski
NJ Amends Life Insurance Illustration Provisions
Effective December 17, 2007, provisions related to life insurance illustrations in New Jersey have been
condensed. NJ ADC 11:4-52.3 removed identification, notification, and certification requirements. The annual
certification requirement has been revised to only require the mailing of one original copy. Any changes to the
actuary illustration must be reported to the insurance commissioner within 10 days, and the reason for the
change must be disclosed.
NJ ADC 11:4-52.3 is available online at http://www.state.nj.us/dobi/adopt.htm
Betty Dabrowski
NY Implements Three-Point Plan on Bond Insurance
The New York Insurance Department has implemented a three-part plan to monitor the major bond insurance
companies and work with them to help stabilize the market. In this way, they can continue to protect
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policyholders, assist in the continued availability of bond insurance and continue to explore private sector
solutions.
Eric Dinallo, superintendent of the New York Insurance Department, announced the plan January 22, 2008 in a
news release. The announcement may be found online at http://www.ins.state.ny.us/press/2008/p0801221.htm
Anne Aponte
PA Increases Accident Surcharge Dollar Threshold to $1,350
PA Notice Bulletin 2008-01, dated January 12, 2008, advised that the Accident Surcharge Dollar Threshold
has been increased to $1,350. Insurers writing private passenger auto insurance may not penalize their
policyholders by applying rate surcharges or increase premiums whose claim cost over a 3-year period does
not exceed the threshold. The cap applies to any person injured or property damaged and is measured in
excess of any deductible or self-insured retention. The new cap goes into effect on July 1, 2008.
The bulletin may be found online at http://www.pabulletin.com/secure/data/vol38/38-2/77.html
Anne Aponte
PA Removes Chapter on Objections and Procedure for Hearing on Reports of Examinations
Chapter 58 of the Pennsylvania Insurance Code, which concerned objections and procedure for hearing on
reports of Insurance Department examinations, has been deleted as of November 16, 2007. The Insurance
Department considered this chapter to be obsolete and unnecessary. The sections in Chapter 58 have been
superseded by section 905 of The Insurance Department Act of 1921.
The Pennsylvania Insurance Code Chapters may be found online at
http://www.pacode.com/secure/data/031/031toc.html
Betty Dabrowski
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Northeast Region News
Co-Editor: Gregory A. Popolizio, The Hanover Insurance Group
[email protected]
Co-Editor I: Peggy Schwartz, Boston Mutual Life Insurance Company
Co-Editor II: Cailie Currin, The Currin Law Office
New England Chapter: Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, Vermont
CT Issues P&C Filing Guidelines
On January 7, 2008, the Connecticut Insurance Department issued Bulletin PC-62, describing guidelines to
P&C carriers for filing personal and commercial lines products.
The department has developed these guidelines as a speed-to-market initiative. The bulletin describes the
state filing statute and new rules and tools for use in filing and contains a new transmittal form for paper filings,
a new forms list, and a checklist. All insurers that subscribe to SERFF must use SERFF for all property and
casualty filings.
On the same date, the department issued Bulletin PC-63, which provides for the exemption of certain
commercial lines property and casualty policy forms, rates, and rules.
The changes described iin both bulletins are effective February 1, 2008. Questions may be directed to George
Bradner, director, Property and Casualty Division, 860-297-3866. A copy of the bulletins may be found at the
following links: http://www.ct.gov/cid/lib/cid/BullPC63.pdf and http://www.ct.gov/cid/lib/cid/BullPC62.pdf
ME Advises Against Use of Government Vehicle Exclusions
In Maine Bureau of Insurance Bulletin 346, dated November 5, 2007, the superintendent advises insurers
against the use of government vehicle exclusions.
Insurers with automobile liability authority and advisory organizations that file forms on behalf of insurers are
directed to review their currently filed and approved commercial and personal motor vehicle forms and bring
them into compliance with Maine law.
Revised forms must be filed with the bureau by January 31, 2008. Questions man be directed to the Bureau
of Insurance at 207-624-8475 or toll-free in Maine at 800-300-5000. A copy of the bulletin may be found at the
following link: http://www.maine.gov/pfr/insurance/bulletins/346.htm
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ME Requires Training for Long-Term Care Insurance Producers
In Bulletin 347, issued November 20, 2007, the Maine Bureau of Insurance advised that legislation that took
effect September 20, 2007, requires producers who sell, solicit, or negotiate long-term care insurance to
complete a one-time training course and ongoing training every 24 months thereafter. The bulletin also notifies
insurers providing long-term care insurance of their requirement to obtain producer training verification and
maintain necessary records.
The bulletin may be found online at http://www.maine.gov/pfr/insurance/bulletins/347.htm
More information is available from the Bureau of Insurance at 207-624-8475 or toll-free in Maine at 800-300-5000
Peggy Schwartz, FLMI, CCP, AIRC
ME Bars Certain Sales Practices Targeting Members of Armed Forces
Maine Rule 245, effective January 1, 2008, sets forth standards to protect active-duty service members of
the United States Armed Forces from dishonest and predatory insurance sales practices by declaring certain
identified practices to be false, misleading, deceptive, or unfair.
The full text of the rule may be found online at http://www.maine.gov/pfr/insurance/rules/225.htm
Cailie A. Currin, JD
ME Revises Long-Term Care Regulation Regarding Nonforfeiture Benefits
Maine has updated Chapter 425 of its Insurance Rules, relating to nonforfeiture benefits for long-term
care insurance policies issued or renewed on or after January 1, 2008. The changes also affect contingent
nonforfeiture benefits upon lapse of a policy.
The full text of the rule may be found online at http://www.maine.gov/pfr/insurance/rules/425.htm
MA Requires Consumer Notifications of Settlements of Third-Party Claims
Massachusetts Insurance Commissioner Nonnie S. Burnes has called on insurance companies to send written
notification to consumers when a settlement payment in any third-party liability claim is made to the consumer’s
attorney or other representative. Insurers have been directed to provide written notice to consumers when a
payment of $5,000 or more is made to the claimant’s attorney or other representative. The new guidelines were
developed to make sure that claimants receive their full payments and to prevent misuse.
The guidelines are contained in Insurance Bulletin 2007-15, issued December 20, 2007. To find a copy online,
use the link below to go to the home page of the Massachusetts Office of Consumer and Business Affairs and
do a search for Insurance Bulletin 2007-15.
http://www.mass.gov/?pageID=ocaconstituent&L=2&L0=Home&L1=Business&sid=Eoca
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MA Sets Rules on Health Coverage for Dependents Younger Than 26
Massachusetts Insurance Bulletin 2008-01, effective January 1, 2008, affects insurers offering health plans
(other than stand-alone dental and Medicare supplement plans), that provide for dependent coverage. It says
such coverage must be made available to persons, under 26 years of age or for two years after the end of the
calendar year in which such persons last qualified as dependents under 26 U.S.C. 106, whichever occurs first.
The bulletin instructs carriers to forward to the Insurance Division any changes to evidences of coverage on file
with the division to reflect changes to sections addressing eligibility as a dependent.
To find a copy of this bulletin online, use the link below to go to the home page of the Massachusetts Office of
Consumer and Business Affairs and do a search for Insurance Bulletin 2008-01.
http://www.mass.gov/?pageID=ocaconstituent&L=2&L0=Home&L1=Business&sid=Eoca
NH Allows Workers’ Compensation Exclusions in Construction Sector
The New Hampshire Insurance Department advises insurers of a law change regarding workers’ compensation
in the construction sector. HB 692, which took effect January 4, 2008, allows the exclusion of up to three offers
or members of corporations or limited liability companies and excludes some persons performing routine
maintenance operations.
In Bulletin No. 08-002-AB, issued January 9, 2008, the department provides seven guidelines for workers’
compensation insurers in connection with the new law.
A copy of the bulletin may be found online at http://www.nh.gov/insurance/bulletins/documents/ins_08_002ab.pdf
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Malissa Drake and Elaine Bailey Membership Committee
Co-Chairs
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NH Describes Civil Union Law’s Effect on Insurance
The New Hampshire Insurance Department has described the effect on insurers of the state’s new civil union
law, which took effect January 1, 2008. The department is interpreting the law, HB 437, as requiring insurers to
amend policy language to provide the same benefits to people joined in civil unions as are provided to those
joined in marriage. As an example, it says that where a policy defines “named insured” to include a “spouse” or
the “husband or wife” of the insured, the policy must be amended to add the term “partner to a civil union.”
The department’s instructions for insurers are contained in Bulletin 07-088-AB, issued December 18, 2007. A
copy may be found online at http://www.nh.gov/insurance/bulletins/documents/civil_unions_ins07_088ab.pdf
NH Clarifies Rules for Resubmitting Health Form Filings
On November 29, 2007 the New Hampshire Insurance Department issued Bulletin
07-081-AB to clarify the requirements for resubmission of previously reviewed form filings in the health
insurance sector. When policy forms do not comply with New Hampshire statutes and rules, the department will
send a letter identifying areas of non- compliance in the filing submission. To request further review after the
department has identified areas of non-compliance, insurers should submit revised forms with correspondence
that identifies each area of non-compliance and describes each correction made to the prior submission.
Copies of all prior correspondence should be submitted with each subsequent filing. The submission of forms
without identifying prior filings, including all previous correspondence, constitutes a violation of INS 401.13, and
penalties may be assessed.
http://www.nh.gov/insurance/bulletins/documents/resubmitting_form_filings_ins07_081ab.pdf
NH Revises Supplemental Health Insurance Reporting Requirements
The New Hampshire Insurance Department has clarified annual statement supplemental reporting
requirements for health insurance companies, health maintenance organizations, fraternal benefit societies,
and third party administrators. The insurance commissioner issued bulletins setting forth the requirements in
2002 and 2004, and state laws enacted in 2003 and 2006 have also broadened the commissioner’s authority to
collect information related to the supplemental report.
In Bulletin 08-001-AB, issued January 14, 2008, Commissioner Roger A. Sevigny has clarified changes in
requirements for such supplemental reporting. The new bulletin, which repeals and replaces Bulletin 06-024AB, may be found online at
http://www.nh.gov/insurance/bulletins/documents/supplemental_report_ins08_001ab.pdf
NY Changes Guidelines on Filing Actuarial Opinion Summary
The New York Insurance Department has advised property and casualty insurers domiciled in the state
of changes to the guidelines on filing an Actuarial Opinion Summary (AOS). The department is no longer
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requiring a duplicate copy of the Statement of Actuarial Opinion to be attached to the filing of the AOS, which
must be submitted each year by March 15.
The information is contained in Supplement No. 1 to Circular Letter No. 22 (2005), issued November 6, 2007.
The supplement may be found online at http://www.ins.state.ny.us/circltr/2007/cl07_s122.htm
NY Changes Nonforfeiture Requirements for Term Life
The New York State Insurance Department has revised Regulation 149, affecting term life insurance coverage.
Changes in the nonforfeiture requirements will make return of premium riders more easily approvable in New
York. The changes, which took effect January 1, 2008, also permit insurers to regularly extend term coverage
beyond age 80.
The revised regulation may be found online at http://www.ins.state.ny.us/r_finala/2007/rf149a1t.pdf
NY Creates Electronic Version of Readability Requirements Certification
The New York State Insurance Department has created an electronic version of a sample certification of
compliance with Section 142-a of the state insurance law that requires most policy forms to be in simplified
language. The certification form consists of two pieces: a series of check boxes that indicate compliance with
the readability requirements and a form that calls for the forms to be listed along with the Flesch Score and the
Document Statistics needed to calculate the Flesch Score.
A notice that describes the electronic version of the form with links to the two pieces may be found online at
http://www.ins.state.ny.us/life/3102intro.doc
NY issues Liquidity and Severe Mortality Inquiry
On December 31, 2007, New York’s Insurance Department issued a Liquidity and Severe Mortality Inquiry to all
licensed life insurers and accredited life reinsurers. The interrogatories are designed to assess stress liquidity
exposure and financial flexibility for coping with both expected and unexpected cash demands. Responses
must be submitted by May 1, 2008.
The inquiry form may be found online at http://www.ins.state.ny.us/life/reserve/doc/interrog.doc
RI Reminds P&C Insurers of Rating Requirements
In Bulletin 2007-11, dated December 20, 2007, the Rhode Island Department of Business Regulation has
reminded property and casualty insurers of their obligations under the state’s rating statutes. The bulletin
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reminds insurers that they are responsible for assuring that policies are written in accordance with their
underwriting guidelines and criteria and in accordance with filings approved by the department. The bulletin
describes situations dealing with insurers granting underwriting and pricing authority to their agents/producers
and the use of scheduled rating for workers’ compensation.
The department says it will continue to investigate all consumer complaints to determine compliance with the
bulletin. Non-compliance may result in administrative action, including the assessment of fines and penalties
and/or suspension or revocation of a company license.
http://www.dbr.state.ri.us/documents/news/insurance/InsuranceBulletin2007-11.pdf
VT Outlines Security Breach Procedures
The Vermont Department of Banking, Insurance, Securities, and Health Care Administration has issued a
bulletin outlining the steps that companies must take in the event of a security breach involving computerized
data or systems containing personal information. Bulletin 1, issued December 21, 2007, encourages
companies to develop a security breach policy and to communicate the policy to their employees.
The bulletin may be found online at http://www.bishca.state.vt.us/RegsBulls/Security_Breach_Bulletin.pdf
VT Proposes Health Care Price and Quality Transparency Rule
Vermont proposed Rule No. H-2007-05 would make health care price and quality information available to
insured and uninsured individuals. It would require health insurers covering at least 5 percent of Vermont’s
insured population to provide comprehensive information to their insureds about the price and quality of
hospital services, physician services, prescription drugs, and equipment and supplies. Price and quality
information requirements would be phased in starting in 2008. For uninsured individuals, hospitals and large
provider practices would be required to provide information about quality and charges, and about free care
policies and government assistance programs. Under the proposed rule this would take effect February 1,
2008.
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Northwest Region News
Editor: Janet Vitus, CIC, MHP, HIA, CRM, ACP, CCP
503-947-7278
[email protected]
Co-Editor Doug Geraci, CPCU, ACP Insystems
360-805-1705
[email protected]
Northwest Chapter: Alaska, Idaho, Montana, Oregon, Washington, Wyoming
AK Lists Eligible Surplus Lines Insurers
In Bulletin B 02-02, issued January 20, 2008, the Alaska Division of Insurance listed the foreign and alien
insurers that meet the requirements necessary to be an eligible surplus lines insurer in the state.
The bulletin is available online at http://www.dced.state.ak.us/insurance/bulletins/B08-02.pdf
AK Directs NCCI to Create State Code for Reforestation
The Alaska Division of Insurance has directed the National Council on Compensation Insurance to create a
new Alaska State Special Classification Code 0124 for reforestation operations. It said the filing must be made
no later than March 15, 2008.
The text of the order, dated January 15, 2008, is available online at
http://www.dced.state.ak.us/insurance/orders/R08-03.pdf
AK Adopts Risk Based Capital Instructions
The Alaska Division of Insurance has adopted Risk Based Capital Instructions formulated and approved by the
National Association of Insurance Commissioners, effective December 31, 2007.
The text of Order R07-09, which adopted the instructions, is available online at
http://www.dced.state.ak.us/insurance/orders/R07-09.pdf
AK Addresses Unfair Trade Practices
In Bulletin B 07-06, issued December 21, 2007, the Alaska Division of Insurance advised health care insurers
and other interested parties about practices that violate Alaska’s Trade Practices and Frauds Act. The bulletin
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made particular mention of unfair claim settlement practices and the prompt payment of health care claim
provisions.
The bulletin is available online at http://www.dced.state.ak.us/insurance/bulletins/B07-06.pdf
ID Honored for Services to Medicare Beneficiaries
The Senior Health Insurance Benefits Advisors (SHIBA) office of the Idaho Department of Insurance has
been awarded a Performance Award Supplement Grant by the Centers for Medicare & Medicaid Services
(CMS). Performance awards are given to state health insurance information programs that have demonstrated
achievement in providing services to Medicare beneficiaries. Award eligibility is determined based on
performance measures, service ratios, client contact, and public and media activity.
A news release announcing the award may be found on the department’s Web site at
http://www.doi.idaho.gov/press/SHIBA.pdf
Jan Vitus, CIC, MHP, HIA, CRM, CCP
ID Department of Insurance Posts 2006 Annual Report
The Idaho Department of Insurance has posted its annual report for calendar year 2006. The report may be
found online at http://www.doi.idaho.gov/Pubs/06annrep.pdf
ID Department of Insurance Expresses Concern Over Toyota Ads
The Idaho Department of Insurance has joined forces with the Coalition Against Insurance Fraud, a
Washington group that includes insurers, law enforcement officials, and consumer groups, in expressing
concern over a recent Toyota ad campaign that showed people dumping their cars so they can buy new ones.
According to the coalition, every scene depicted in the ads is a crime. The DOI and the Coalition believe
the message is as much about increasing insurance fraud as it is about increasing car sales. DOI Fraud
Investigator, Don Roberson, has asked the Toyota Company to pull the ads.
A news release about the protest, including a response from Toyota, may be found on the Idaho DOI Web site
at http://www.doi.idaho.gov/press/Toyota.pdf
ID Proposes Insurance Law Changes
The Idaho Department of Insurance is proposing four legislative changes for the upcoming legislative session
covering annuity sales suitability, rating of individual health insurance products, lifetime maximums, and
technical corrections to the Managed Care Law. If you have questions relating to any of these changes or
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would like copies, please feel free to contact Shad Priest at the Idaho Department of Insurance.
Details of the department’s proposals may be found in its online newsletter at
http://doi.idaho.gov/pubs/DecemberLegislation.pdf
Jan Vitus CIC,MHP,HIA,CRM,CCP
ID Posts Examination Reports of Domestic Insurers
The Idaho Department of Insurance has posted Final Examination Reports of domestic insurers on its Website
at http://www.doi.idaho.gov/company/exam_reports.aspx
MT Bars Referrals to Specific Auto Repair Shops
The Montana Department of Insurance has issued an Advisory Memorandum regarding Senate Bill 204,
which prohibits an insurer from asking a claimant or insured to go to a particular repair shop for the purpose of
obtaining an estimate of damages resulting from an auto accident. The bill became effective October 1, 2007.
The text of the memorandum, which was issued November 7, 2007, is available online at
http://sao.state.mt.us/bulletins/Steering%20letter2.pdf
OR Requires Associations Offering Group Health Insurance to Comply With Code
Oregon House Bill 3321, which became effective July 1, 2007, removes exemptions from the Insurance Code
for associations offering group health insurance. These associations must file to establish their status as
suppliers to group policyholders, and the policy forms are subject to Oregon prior review and approval.
Because disability insurance falls under Oregon’s statutory definition of health insurance, those associations
offering group disability coverage to Oregonians no longer hold the exempt status and must also be re-filed.
Only associations offering group life insurance and blanket health may qualify for an exemption.
During the 2007 legislative session, other significant changes were made to the way Oregon regulates small
employer health insurance. For example, the previous definition of “small employer” included those having 2 to
25 employees, but the new definition includes those with up to 50 employees.
More information on these and other Oregon legislative changes may be found online at
http://www.cbs.state.or.us/ins/legislature/2007_legislature/2007-ins_legislation-main.html
Jan Vitus CIC, MHP, HIA,CRM,CCP
OR Sets Procedures for Reports of Grievances, Utilization Review
The Oregon Insurance Division has issued a bulletin providing instructions to facilitate the annual reporting of
grievances, utilization review policies, quality assessment activities, and network adequacy.
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The text of the bulletin, 2007-7, may be found online at http://insurance.oregon.gov/bulletins/bulletin2007-07.pdf
Jan Vitus CIC, MHP, HIA, CRM, CCP
OR Requires Public Disclosure of Health Benefit Plan Rates
Oregon law HB 3103, which was enacted during the 2007 Regular Session, requires rate filings for certain
health benefit plans to be made available for public inspection after they are filed with the director of the
Insurance Division. Temporary Administrative Rule OAR 836-053-0910 implements this legislation and affects
health rates filed January 1, 2008 or later.
The text of the rule may be found online at
http://insurance.oregon.gov/rules/attachments/recently%20proposed/id13-2007_rule.pdf
OR Mandates Coverage for Prosthetic and Orthotic Devices
OAR 836-052-1000, effective January 1, 2008, adopts a rule listing the prosthetic and orthotic devices that
must be covered by group and individual health insurance policies. HB 2517, enacted during the 2007 Regular
Session, requires all such policies that provide coverage for hospital, medical, or surgical expenses to include
coverage for prosthetic and orthotic devices.
OR Enables Seniors to Benefit from Long Term Care Partnership Act
An Oregon rulemaking that took effect January 1, 2008, implements a 2007 law that amended Oregon statutes
governing long term care insurance. The law, SB 191, enables Oregon consumers to benefit from the federal
Long Term Care Partnership Act. Under the rulemaking, new LTC insurance policies will protect assets when
applying for Medicaid. Oregon insurers must make new filings for any LTC policy that will be sold under the
Long Term Care Partnership Act provisions.
The texts of the administrative rules, OAR 836-052-0500 through 836-052-0786, may be found online at
OR Introduces Changes to 2007 Statutory Motor Vehicle Coverage
During the 2007 Regular Session, the Oregon Legislature adopted several measures affecting automobile
insurance. These included SB 116 (towing businesses), SB 255 (APIP), SB 256 (APIP arbitration), HB 2385
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(UM/UIM for self-insurers), HB 2908 (UM/UIM for vehicles owned or operated by Oregon governmental
entities), and HB 3086 (family exclusion or step-down limits no longer allowed).
Details of these bills may be found online at
www.oregoninsurance.org/legislature/2007_legislature/2007-ins_legislation-toc.html
WA 2008 Legislative Session Called to Order
The 2008 Washington State legislative session was called to order in January. The Washington State Office
of the Insurance Commissioner has set up a Website so you may check on the status and development of
Insurance Commissioner Mike Kreidler’s legislative agenda.
The Website may be found at http://www.insurance.wa.gov/legislative/index.shtml
WA Eliminates Exclusion for Mental or Emotional Disorders
Washington State Insurance Commissioner Mike Kreidler has adopted an order eliminating medical plan
exclusions for mental or emotional disorders. R 2007-14 was adopted January 23, 2008, and took effect
February 23, 2008.
The text of R2007-14 may be viewed online at http://www.insurance.wa.gov/oicfiles/rules/new/R_2007-14.pdf
WA Corporate Owned Life Insurance
Washington State Insurance Commissioner Mike Kreidler has adopted a rule clarifying insurable interest
requirements for corporate-owned life insurance. R 2004-03 was adopted December 17, 2007 and took effect
January 17, 2008.
The text of R2004-03 may be viewed online at: http://www.insurance.wa.gov/oicfiles/rules/new/R_2004-03.pdf
WA Sets Rules for Substitutes for Contracted Network Providers
Washington State Insurance Commissioner Mike Kreidler has adopted a rule setting requirements for health
care network providers who act as substitutes for a contracted network provider. R 2005-04 was adopted
December 10, 2007 and took effect January 10, 2008.
The text of R 2005-04 may be found online at:
http://www.insurance.wa.gov/oicfiles/rules/new/R_2005-04.pdf
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WA Sets Rules for Forms for Individual and Group Fixed Payment Insurance
Washington State Insurance Commissioner has adopted an order establishing the content of required
disclosure forms used by insurers marketing individual and group fixed payment insurance. R 2007-05 was
adopted October 15, 2007, and took effect November 14, 2007.
The text of R 2007-05 may be found online at http://www.insurance.wa.gov/oicfiles/rules/new/R_2007-05.pdf
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South Central Region News
Co-Editor: Donna Benard. FLMI, AIRC, CCP, New York Life Insurance Co. LTC,
Co-Editor, Lori A. Chambers, AIRC, State National Companies
800-877-4567, ex. 1224, [email protected]
South Central Chapter: Arkansas, Louisiana, Oklahoma, Texas
AR Defines ‘Noninsurance Subsidiary’
Arkansas has introduced Rule 93 to define the term “noninsurance subsidiary,” which was included in Section
11 of Act 496 of 2007 without definition. The rule defines the term as a corporation or other entity in which an
insurer has, directly or indirectly, a majority ownership, and such corporation or other entity is not necessary
and incidental to the convenient operation of the insurer’s insurance business, does not administer any of the
insurer’s lawful investments, and is not subject to licensure by or registration with the commissioner.
Section 11, in which the term is used, has been codified at Arkansas Code Annotated Section 23-63-818©.
Rule 93 will become effective May 15, 2008, and will apply to all insurance lines.
http://www.insurance.arkansas.gov/Legal%20Dataservices/Proposedrnrpage.htm
Hazel Delane, AIRC, ACS, AIAA, APPA, HIA,MHP
Milliman, Inc.
Great Lakes Chapter
LA Issues Directive on Nonrenewal, Withdrawal & Conversion
In Directive 201, issued November 15, 2007, Louisiana Insurance Commissioner James J. Donelon directed all
authorized property and casualty insurers and surplus lines insurers to provide the Department of Insurance
with 60 days advance written notice of any proposed action related to withdrawal, nonrenewal or conversion.
The directive was issued in response to issues that arose in the aftermath of Hurricanes Katrina and Rita and
followed the rescinding of Directive 184, which had been issued on October 1, 2007.
To find the text of the directive, use the link below and type in “Directive 201.” http://www.ldi.state.la.us/Docs
Lori Chambers, AIRC
LA Mandates Premium Adjustments for Residential Property Insurance
Louisiana Regulation 94. issued January 20, 2008, directs P&C residential property insurers to provide a
premium discount for insureds who build or retrofit a structure to comply with the State Uniform Construction
Code and/or make improvements to the property using construction techniques demonstrated to reduce the
amount of loss from a windstorm or hurricane.
To find the text of the regulation, use the link below and type in “Regulation 94.” http://www.ldi.state.la.us/Docs
Lori Chambers, AIRC
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TX Proposes New Risk-Based Capital and Surplus Requirements
The Texas Department of Insurance has proposed amendments to 28 TAC §7.401, concerning risk-based
capital and surplus requirements for insurers and health maintenance organizations (HMOs). Section 7.401
of the Administrative Code regulates risk-based capital and surplus requirements for property and casualty
insurers, life insurance companies, fraternal benefit societies, stipulated premium companies that do business
in other states, HMOs, and insurers filing the National Association of Insurance Commissioners (NAIC) Health
Blank. The risk-based capital requirement is a method of ensuring that a carrier has an appropriate level of
policyholders’ surplus after taking into account the underwriting, financial, and investment risks of a carrier.
The NAIC risk-based capital formulas provide the DOI with a widely used regulatory tool to identify the
minimum amount of capital and surplus appropriate for a carrier to support its overall business operations in
consideration of its size and risk exposure. The amendment adopts by reference the 2006 NAIC risk-based
capital formulas, including the 2006 NAIC Life Risk-Based Capital Report Including Overview and Instructions
for Companies, the 2006 NAIC Fraternal Risk-Based Capital Report Including Overview and Instructions
for Companies, the 2006 NAIC Property and Casualty Risk-Based Capital Report Including Overview and
Instructions for Companies, and the 2006 NAIC Health Risk-Based Capital Report Including Overview and
Instructions for Companies.
The proposed amendments may be found online at http://www.tdi.state.tx.us/rules/2008/0115-059.html
Milliman, Inc.
Great Lakes Chapter
TX Proposes Amendments Concerning SSAP
The Texas Department of Insurance has proposed amendments to 28 TAC §7.18 regarding Statements of
Statutory Accounting Principles (SSAPs). The statements provide guidance to insurers and health maintenance
organizations (HMOs), including accountants employed or retained by these entities, on how to properly record
business transactions for the purpose of accurate statutory reporting.
The principles provide a nationwide standard method of accounting, which most carriers are required to use
for statutory financial reporting guidance, thus providing a more consistent reporting of financial information for
carriers. The Accounting Practices and Procedures Manual published by the National Association of Insurance
Commissioners is a comprehensive guide to statutory accounting principles and includes those that have been
adopted by the NAIC.
According to the Texas DOI, the proposed amendments are necessary to clarify some of the exceptions specified
in §7.18. The amendment specifies that (1) the department’s rules and directives, instructions, and orders of
the commissioner preempt any contrary provisions in the manual; (2) clarify which department rules specifically
preempt any contrary provisions in the manual; and (3) replaces SAPP No. 88.with new SAPP No. 97.
The proposed amendments may be found online at http://www.tdi.state.tx.us/rules/2008/0114-059.html
Milliman, Inc.
Great Lakes Chapter
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TX Proposes New Financial Reporting Forms
The Texas Department of Insurance has proposed a new Section 28 TAC 7.70 of the Administrative Code
concerning the adoption by reference of reporting forms, electronic data filings with the National Association
of Insurance Commissioners (NAIC) and instructions. The materials are to be used by insurers, health
maintenance organizations (HMOs), nonprofit legal service corporations, Texas Health Insurance Risk Pool,
Texas Fair Plan Association and Texas Windstorm Insurance Association.
The reporting forms include: (1) the 2007 quarterly and the 2007 annual statement blanks, (2) the 2008
quarterly statement blanks, (3) Schedule SIS, (4) management discussion and analysis, (5) supplemental
compensation exhibit, (6) overhead assessment exemption form for insurance company examination expenses,
(7) analysis of surplus, (8) separate accounts, (9) supplemental information for county mutuals and HMOs,
(10) release of contributions, (11) reserve summary, (12) inventory of insurance in force, and (13) summary of
insurance in force. Insurers and other regulated entities will use these forms to report their 2007 and part of
their 2008 calendar year financial condition and business operations and activities.
The proposed new section also (1) adopts by reference the NAIC 2007 annual and quarterly statement blanks,
the NAIC 2008 quarterly statement blanks, related instructions, and other reporting forms and instructions for
reporting the financial condition, business operations and activities of insurance companies and other entities
regulated by the department; (2) requires insurance companies and other entities regulated by the department
to file such annual and quarterly statements and other reporting forms with the department and/ or the NAIC as
directed; and (3) defines terms relevant to the statement blanks and reporting forms and provides the dates by
which certain reports are to be filed.
This proposed regulation applies to life, personal property and casualty, and commercial property and casualty.
The text of the proposed amendment may be found online at
http://www.tdi.state.tx.us/rules/2007/documents/7.70new.pdf
Milliman, Inc.
Great Lakes Chapter
TX Requires Reports on Policies in Force
In order to satisfy the mandate in Section 521.052 of the Texas Insurance Code requiring the Department
of Insurance to provide consumers with complaint ratios, the department has required insurers to report the
number of policies in force as of December 31, 2007, separately for each licensed company. Bulletin B-0001-08
provided that insurers had to complete and file the required report information with the Department by February
8, 2008. The bulletin also described the format of the report and the information required to be reported..
The bulletin became effective January 9, 2008, and applies to all insurance lines. The text may be found online
at http://www.tdi.state.tx.us/bulletins/index.html
Milliman, Inc.
Great Lakes Chapter
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TX Hosts Compliance Conferences
The Texas Department of Insurance is hosting compliance conferences at the Doubletree Hotel in Austin in
June. The Life, Health and Licensing Compliance Conference will be held June 23 and 24, and the Property
and Casualty Compliance Conference will be held June 24 and 25.
The hotel is offering a special rate of $85/single and $135/double for attendees of the compliance conference.
Call the hotel directly at 1-800-347-0330 to make your reservations. Refer to the TDI Compliance Conference
to get the special rate.
More information is available on the DOI Web site at
.
https://wwwapps.tdi.state.tx.us/inter/asproot/commish/mailinglist/view_newsletter.asp?ID=108
Lori Chambers, AIRC
TX Automobile Insurance Plan Association Revises Manual
The Texas Automobile Insurance Plan Association (TAIPA) has revised its Rule and Rating Manual to reflect
new minimum financial responsibility limits for bodily injury and property damage coverages. The changes will
be effective April 1, 2008.
More details on the changes were provided in Bulletin #B-0003-08, dated January 25, 2008. The bulletin may
be found online at http://www.tdi.state.tx.us/bulletins/2008/cc2.html
Lori Chambers, AIRC
TX Revises Workers’ Compensation Classifications
In Bulletin B-00047-07, dated November 14, 2007, Texas Insurance Commissioner Mike Geeslin revised
workers’ compensation classifications and made other changes to the Texas Basic Manual of Rules,
Classifications and Experience Rating Plan for Workers’ Compensation and Employers’ Liability Insurance.
The bulletin may be found online at http://www.tdi.state.tx.us/bulletins/2007/cc47.html
Lori Chambers, AIRC
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Southwest Region News
Editor: Lois Pimentel, Perr & Knight, Inc.
Western Regional Chapter: Arizona, California, Colorado, Hawaii, Nevada, New Mexico, Utah
AZ Adopts Rule to Protect Military Families from Insurance Fraud
The Arizona Department of Insurance has adopted a new rule to protect military families from improper sales
practices. It includes standards to protect these families from dishonest life and annuity insurance practices.
A news release describing the rule may be be found online at http://www.id.state.az.us/press/press08-02.pdf
Lois Pimentel
AZ DOI Issues Annual Report
The Arizona Department of Insurance has issued its annual report for 2006-07. It includes property and
casualty highlights, insurance professional summaries, fiscal reports, and an alphabetical list of all insurers
authorized in Arizona.
The report may be found online at
http://www.id.state.az.us/annualreport/Master_2006-2007_Annual_Report_WEB.pdf
Lois Pimentel
AZ Lists Qualified Unauthorized Surplus Line Insurers
The Arizona Department of Insurance has released a list of qualified unauthorized surplus line insurers,
covering those approved for the period July 1, 2007 to June 30, 2008.
The list may be found online at
http://www.id.state.az.us/publications/WHITELISTnameonly07to08_Rev9_.pdf
Lois Pimentel
CA Residents Urged to Inventory Property, Review Insurance Coverage
Recent storms have prompted California Insurance Commissioner Steve Poizner to urge residents to take
make home inventories of their property and review their insurance policies to be sure that their possessions
are properly covered.
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A news release in which he made the appeal may be found online at
http://www.insurance.ca.gov/0400-news/0100-press-releases/0070-2008/release01-08.cfm
Lois Pimentel
CA Announces Settlement with LandAmerica Corporation
The California Department of Insurance has reached a settlement with LandAmerica Corporation in which the
company has agreed to pay $3.5 million in penalties and refunds to policyholders resulting from its unfair rating
and underwriting practices. The unfair practices included LandAmerica’s failure to follow its own rates, resulting
in premium overcharges for many customers who purchased residential title insurance policies.
A news release with other details of the settlement may be found online at
http://www.insurance.ca.gov/0400-news/0100-press-releases/0070-2008/release006-08.cfm
Lois Pimentel
HI Commissioner Releases 2007 Report
Hawaii Insurance Commissioner Jeffrey P. Schmidt has released his 2007 report, which includes rate and
policy analysis and summaries of premiums written and losses paid for that year.
The report may be found online at www.hawaii.gov/dcca/areas/ins/main/reports/2007_INS_comm_report.pdf
Lois Pimentel
HI Reaches Tentative PrimeGuard and First Assured Settlement
The Hawaii Insurance Division has reached a tentative settlement between the liquidator of PrimeGuard
Insurance Company and the shareholders of PrimeGuard and its affiliated companies, 1SourceAutoWarranty,
First Assured Warranty Corporation and WarranteeWise, Inc.. The settlement must be approved by the Federal
Bankruptcy Court in Colorado and the Liquidation Court in Hawaii before it can take effect.
A news release describing the terms of the settlement may be found online at
http://hawaii.gov/dcca/areas/ins/ins_div_actions/primeguard/index_html/view
Lois Pimentel
NV Declares Catastrophe Areas
Nevada Commissioner of Insurance Alice A. Molasky-Arman has declared sections in north Nevada that have
been devastated by recent storms a catastrophe area and has given temporary approval for non resident
adjusters to adjust claims there.
A January 5, 2008, news release describing this action may be found online at
http://doi.state.nv.us/Press-storm0108.pdf
Lois Pimentel
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NV Offers Aid Following Fernley Levee Break
Nevada Commissioner of Insurance Alice A. Molasky-Arman is offering assistance to residents of Fernley
who were affected by the break of the Truckee Levee on January 5, 2008 following excessive rainfall. She is
encouraging residents to file claims with their insurance companies, even if they aren’t sure whether they have
coverage for such an occurrence.
A news release containing the commissioner’s announcement may be found online at
http://doi.state.nv.us/Press-fernleystorm.pdf
Lois Pimentel
NV Rate Decrease Requested by Dental Insurance Company
A Notice of Request to Change Nevada Insurance Rates was submitted on December 14, 2007 by the Dental
Insurance Company pertaining to Dental Professional Liability Insurance. The proposal requests a 7.5 percent
decrease effective July 1, 2008.
A notice of the request may be found online on the Nevada Division of Insurance Web site at
http://doi.state.nv.us/Press-Press2008Index.htm
Lois Pimentel
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United States
Editor, Brady Smith, Symetra Financial
425-256-6325
[email protected]
Editor Position Available
GAO Report Highlights NFIP Weaknesses
Government Accountability Office Report GAO-08-28 (issued December 28, 2007) identifies several
weaknesses in the National Flood Insurance Program (NFIP).
Disputes between policyholders and insurers after the 2005 hurricane season highlight the challenges in
understanding the cause and extent of damages when properties are subjected to both high winds and
flooding. Questions remain over the adequacy of steps taken by the Federal Emergency Management Agency
(FEMA) to ensure that claims paid by the NFIP cover only those damages caused by flooding. The GAO was
asked to evaluate (1) issues that arise when multiple insurance policies provide coverage for losses from
a single event, (2) state regulators’ oversight of loss adjusters, and (3) information that the NFIP collects to
assess the accuracy of damage determinations and payments. The GAO collected data from FEMA, reviewed
reinspection reports and relevant policies and procedures, and interviewed state regulatory officials and others
about adjuster oversight and the NFIP.
Insurance coverage gaps and claims uncertainties can arise when coverage for hurricane damage is divided
among multiple insurance policies. Coverage for hurricanes generally requires more than one policy because
private homeowners policies generally exclude flood damage. However, the extent of coverage under each
policy depends on the cause of the damages, as determined through the claims adjustment process and the
policy terms that cover a particular type of damage.
This process is further complicated when the damaged property is subjected to a combination of high winds
and flooding and evidence at the damage scene is limited. Other claims concerns can arise on such properties
when the same insurer serves as both the NFIP’s write-your-own (WYO) insurer and the property-casualty
(wind) insurer. In such cases, the same company is responsible for determining damages and losses to itself
and to the NFIP, creating an inherent conflict of interest.
Differences in licensing and training requirements for insurance claims adjusters among states also create
uncertainties about adjusters’ qualifications. Before the 2005 hurricane season, some coastal states had few
or no requirements, while others had requirements for most types of adjusters. Further, states can waive their
normal oversight requirements after a catastrophic event to help address demand, as they did after Hurricane
Katrina. As a result, significant variations can exist in the qualifications of claims adjusters available after
a catastrophic event. Strengthened and more uniform state requirements for adjusters could enhance the
qualifications of the adjuster force in future catastrophes and improve the quality and consistency of claims
adjustments.
The NFIP does not systematically collect and analyze both wind and flood damage claims data, limiting
FEMA’s ability to assess the accuracy of flood payments on hurricane-damaged properties. The claims data
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collected by the NFIP through the WYO insurers -- including those that sell and service both wind and flood
policies on a property -- do not include information on whether wind contributed to total damages or the extent
of wind damage as determined by the WYO insurer. The lack of this data also limits the usefulness of FEMA’s
quality assurance reinspection program to reevaluate the accuracy of payments.
In addition, the aggregate claims data that state insurance regulators collectively gathered after Hurricanes
Katrina and Rita were not intended to be used to assess wind and flood damage claims together on a propertyor community-level basis. Further, FEMA program contractors do not have access to WYO insurers’ policies,
procedures, and instructions that tell adjusters how wind and flood damages are to be determined when
properties are subjected to both perils. FEMA officials stated that they did not have the authority to collect wind
damage claims data from insurers. But without the ability to examine claims adjustment information for both the
wind and flood damages, the NFIP cannot always determine the extent to which each peril contributed to total
property damages and the accuracy of the claims paid for losses caused by flooding.
The complete report is available on the GAO’s Web site at http://www.gao.gov/new.items/d0828.pdf.
Terrorism Risk Insurance Reauthorization Act of 2007
The Department of the Treasury has provided Interim Guidance Concerning the Terrorism
Risk Insurance Reauthorization Act of 2007 (Federal Register, Vol. 73, No. 19, p. 5264, January 28, 2008).
On November 26, 2002, the President signed into law the Terrorism Risk Insurance Act of 2002 (Pub. L. 107–
297). The act became effective immediately. It established a temporary Terrorism Risk Insurance Program of
shared public and private compensation for insured commercial property and casualty losses resulting from an
act of terrorism, as defined in the act. The act was scheduled to expire on December 31, 2005. The Terrorism
Risk Insurance Extension Act of 2005 (Pub. L. 109–144) extended TRIA through December 31, 2007. On
December 26, 2007, the president signed into law the Terrorism Risk Insurance Program Reauthorization Act
of 2007. The Reauthorization Act extends the program through December 31, 2014, with calendar years 2008–
2014 called the Additional Program Years.
Other provisions of the Reauthorization Act:
• Revise the definition of an act of terrorism to remove the requirement that it must have been committed by an
individual acting on behalf of any foreign person or foreign interest in order to be certified for purposes of the
law.
• Define insurer deductible for all Additional Program Years as the value of an insurer’s direct earned premium
for commercial property and casualty insurance for the immediately preceding calendar year multiplied by 20
percent.
• Set the federal share of compensation for insured losses (subject to a $100 million program trigger) for all
Additional Program Years at 85 percent of that portion of the amount of insured losses that exceeds the
applicable insurer deductible.
• Require Treasury to submit a report to Congress and issue final regulations for determining the pro rata share
of insured losses to be paid under the program when aggregate insured losses exceed the annual liability cap
of $100 billion..
• Require the secretary of the treasury to notify Congress not later than 15 days after the date of an act of
terrorism as to whether aggregate insured losses are estimated to exceed $100 billion.
• Require for policies issued after the date of enactment that insurers provide clear and conspicuous disclosure
to the policyholder of the existence of the $100 billion cap at the time of offer, purchase, and renewal of a
policy, in addition to current disclosure requirements.
• Revise the recoupment provisions of the act. For purposes of recouping the federal share of compensation
under the act, the ‘insurance marketplace aggregate retention amount’ for all Additional Program Years is the
lesser of $27.5 billion and the aggregate amount, for all insurers, of insured losses during each Program Year.
With regard to mandatory recoupment of the federal share of compensation through policyholder surcharges,
collection is required within a certain schedule specified in the Reauthorization Act. The limitation that
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surcharges not exceed 3 percent of the premium charged for property and casualty insurance coverage under
the policy is generally eliminated but remains in the case of discretionary recoupment.
• Require Treasury to issue recoupment regulations within 180 days of enactment and publish an estimate of
aggregate insured losses within 90 days after an act of terrorism.
• Require the President’s Working Group on Financial Markets to perform an ongoing analysis regarding the
long-term availability and affordability of terrorism risk insurance and submit reports in 2010 and 2013.
• Require the Comptroller General to examine and report on the availability and affordability of insurance
coverage for nuclear, biological, chemical, and radiological terrorist events; the future outlook for such
coverage; and the capacity of insurers and state workers’ compensation funds to manage the risk associated
with nuclear, biological, chemical, and radiological terrorist events.
• Require the Comptroller General to study and report on the question of whether there are specific markets
in the United States where there are unique capacity constraints on the amount of terrorism risk insurance
available.
Treasury will be issuing regulations to administer and implement TRIA, as amended by the Reauthorization Act.
Defining Certified Acts
In its Interim Guidance, Treasury said it understands that the language in property and casualty insurance
policies describing a certified act of terrorism covered by TRIA and other, non-certified, acts of terrorism
has varied. In addition, insurers have designed their insurance contracts and notifications to policyholders
concerning potential changes to the certification criteria for ‘acts of terrorism’ differently. Insurers must
determine how their policy language and particular circumstances are affected by the revised definition of an
act of terrorism.
Treasury intends to address the statutory requirements and regulations of TRIA, as amended by the
Reauthorization Act, with the Interim Guidance and future advisories. The decision whether to certify an act
of terrorism will be governed by the criteria in TRIA, as amended by the Reauthorization Act. Treasury will
consider losses resulting from an act of terrorism (as now defined in TRIA) that are covered by an insurer
under a policy for property and casualty insurance to be insured losses covered by the program, provided
that the insurer makes payment to the policyholder in accordance with the terms and conditions of the policy,
appropriate business practices, and other applicable requirements and conditions.
Make-available Requirements
There is no change to the TRIA requirements in section 103(c) that insurers make available, in all property and
casualty insurance policies, coverage for insured losses that does not differ materially from the terms, amounts,
and other coverage limitations applicable to losses arising from events other than acts of terrorism. However,
because the make-available requirements apply to insured losses, and an insured loss is defined, in part, as a
loss resulting from an act of terrorism, the revision of the definition of an act of terrorism in the Reauthorization
Act to eliminate the foreign person or interest element (to add what is often referred to as domestic terrorism)
affect an insurer’s compliance with the make-available requirements.
The Reauthorization Act is effective immediately upon enactment, December 26, 2007. The TRIA regulations
in 31 CFR 50.21(a) generally provide that the make-available requirements apply at the time of the initial offer
of coverage or offer of renewal of an existing policy. Thus, any initial offers of coverage, or offers of renewal
of existing policies, made on or after the date of enactment must be consistent with the revised definition of
act of terrorism. The Reauthorization Act also made no change to the requirement in section 103(b) in TRIA
that insurers provide clear and conspicuous disclosure to the policyholder of the premium charged for insured
losses covered by the program and the federal share of compensation for insured losses under the program.
These disclosures must be made on a separate line item in the policy, at the time of offer, purchase, and
renewal of the policy. However, disclosure of the premium must now reflect the premium charged for insured
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losses, as determined by the revised definition of an act of terrorism.
As stated above, any initial offers of coverage, or offers of renewal of existing policies, made on or after the
date of enactment must be consistent with the revised definition of act of terrorism.
So too, the required disclosure must be made on a separate line item in the policy, at the time of offer,
purchase, and renewal of the policy. Treasury said it realizes that as a practical matter, insurers may have
to modify operations and may be subject to rate and policy form filing and/or prior approval processes, and
therefore may need some time to meet these requirements.
Treasury said it expects that all insurers will provide compliant initial and renewal offers and disclosures
as quickly as possible. In this regard, Treasury considers March 31, 2008, to be the latest reasonable date
for compliant offers of coverage and disclosures to policyholders (including reprocessing of policies, if
necessary, where a compliant post-December 26, 2007 offer and/or disclosure was not possible), barring
unforeseen or unusual circumstances. If an insurer does not meet the March 31 date, Treasury will expect the
insurer to demonstrate why it could not comply by that date when submitting a claim for the federal share of
compensation under the program.
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New Coverage Offers
Because the make-available requirements apply at the time of the initial offer of coverage or offer of renewal of
an existing policy, no new offer is required if coverage for the duration of the policy term was offered under the
provisions of the act at the time of the offer. This is the case whether the offer was accepted or rejected. If no
new offer is made, then a new disclosure of the premium charged for insured losses covered by the program
and the federal share of compensation for insured losses is also not required, because under TRIA the
disclosure requirements apply at the time of offer, purchase and renewal of the policy.
If existing coverage for an act of terrorism does not continue for the duration of the policy term beyond
December 31, 2007, such as a case where an exclusion becomes effective upon some circumstance, then
a new offer is required for the duration of the policy term. If for any reason an insurer makes a new offer
mid-term, and that offer is after December 26, 2007, then the offer must be based on the Reauthorization
Act’s requirements. The associated disclosure of the premium must reflect the premium for insured losses
in accordance with the revised definition of act of terrorism. Disclosure of the $100 billion cap must also be
provided.
If an insurer wishes to receive federal compensation under the program for insured losses, the insurer must
‘make available’ terrorism coverage for insured losses for all policies becoming effective in 2008, even if the
policy was processed in late 2007 or early 2008. Treasury expects that all insurers will provide policyholders an
offer of terrorism coverage and appropriate disclosures as quickly as possible.
Disclosure of $100 Billion Cap
The Reauthorization Act requires a clear and conspicuous disclosure to the policyholder of the existence of the
$100 billion cap under section 103(e)(2) of TRIA. The requirement applies to any policy that is issued after the
date of enactment of the Reauthorization Act, or December 26, 2007. Under section 103(e)(2), if the aggregate
insured losses exceed $100 billion during a Program Year, Treasury shall not make any payment for any portion
of the amount of such losses that exceeds $100 billion, and no insurer that has met its insurer deductible shall
be liable for the payment of any portion of the amount of such losses that exceeds $100 billion. The disclosure
must be made at the time of offer, purchase, and renewal of the policy. For policies issued after December
26, 2007, this disclosure must be provided to the policyholder at the first occurrence thereafter of an offer,
purchase, or renewal.
Treasury realizes that as a practical matter, insurers may need some time to meet these requirements.
Treasury expects that all insurers will provide compliant disclosures as quickly as possible. In this regard,
Treasury considers March 31, 2008, to be the latest reasonable date for providing the cap disclosure (including
reprocessing of policies, if necessary, where a compliant disclosure was not possible), barring unforeseen
or unusual circumstances. If the March 31 date is not met by an insurer, Treasury will expect the insurer to
demonstrate, when submitting a claim for the federal share of compensation under the program, why it could
not comply by that date.
NAIC Model Disclosure Forms
Under 31 CFR 50.17(e) of the TRIA regulations, insurers are permitted to use NAIC Model Disclosure Forms
No. 1 and 2 to satisfy the disclosure requirements of section 103(b)(2) of the Act, provided that the insurer
uses the most current forms that are available at the time of disclosure and the current forms are deemed to
satisfy the disclosure requirements. The National Association of Insurance Commissioners (NAIC) has recently
modified the forms, and Treasury has deemed the newly modified forms to satisfy the disclosure requirements,
including the cap disclosure requirement. The new forms may be found on the Treasury Web site at http://www.
treasury.gov/trip. Insurers are not required to use the NAIC forms, and they may use other means to comply
with the disclosure requirements.
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Canada
Editor, Brady Smith, Symetra Financial
425-256-6325
[email protected]
Alberta (AB), British Columbia (BC), Manitoba (MB), New Brunswick (NB), Newfoundland and Labrador (NL)
Nova Scotia (NS), Northwest Territories (NT), Nunavut (NU), Ontario (ON), Prince Edward Island (PE),
Québec (QC), Saskatchewan (SK), Yukon (YT)
OSFI Earthquake Exposure Reporting
The Office of the Superintendent of Financial Institutions (OSFI) has published a memorandum titled
“Earthquake Exposure Data” (February 4, 2008) reminding insurers of the April 15, 2008, deadline for reporting
earthquake Probable Maximum Loss (PML) data for the provinces of British Columbia and Quebec.
PML calculations use the earthquake zone definitions of CRESTA (Catastrophe Risk Evaluating and
Standardizing Target Accumulations http://www.cresta.org/). Companies without earthquake exposure are also
required to report.
The memorandum is available on the OSFI Web site at
http://www.osfi-bsif.gc.ca/app/DocRepository/1/eng/returns/corporate/eed_08_let_e.pdf.
Questions should be directed to Actuarial Consultant Patricia Hladun, 416-973-7010 or e-mail her at
[email protected].
OSFI Ruling Classifies Risk of Loss for Reverse Mortgage Loan Insurance
The Office of the Superintendent of Financial Institutions has published Ruling 2008-02, Classes of Insurance
– Reverse Mortgage Loan Insurance, to provide insurers with guidance for application of prudential standards
under the Insurance Company Act.
The ruling states:
OSFI concludes that insurance that protects a lender against the risk of loss under a RML in a Default Context
falls within the class of “mortgage insurance” since that class refers to a loss caused by default on the part of a
borrower. OSFI also concludes that insurance that protects a lender against the risk of monetary loss under a
RML in a Non-Default Context falls within the broad class of “property insurance”.
Prudential standards differ between mortgage insurance and property insurance.
The Notice is available on the OSFI Web site at
http://www.osfi-bsif.gc.ca/app/DocRepository/1/eng/guidelines/rulings/res_mtg_ins_e.pdf.
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OSFI Revises Minimum Continuing Capital and Surplus Requirements
The Office of the Superintendent of Financial Institutions announced revisions to the Minimum Continuing
Capital and Surplus Requirements (MCCSR) for life insurers on December 28, 2007.
In the cover letter, OSFI summarized the major changes this way:
• Assets replicated synthetically and derivatives: Section 3-7 has been rewritten in order to provide detailed
instructions on how to calculate the capital requirement for derivatives that expose a company to the same
C-1 risk as a spot position in an underlying asset. It also contains new guidance for the treatment of option
positions, including options embedded within equity-linked notes and convertible bonds.
• Measurement of retained earnings for fraternal benefit societies: The amount that a fraternal benefit society
reports as retained earnings for MCCSR purposes is now specified as the lower of the insurance fund surplus
or the total current year surplus.
The Guideline, Impact Analysis and Letter are available on the OSFI Web site at
http://www.osfi-bsif.gc.ca/osfi/index_e.aspx?ArticleID=2147.
CCIR Releases Report on Risk-Based Market Conduct Regulation
The Canadian Council of Insurance Regulators (CCIR) released a report on risk-based market conduct
regulation January 10, 2008. It said the report seeks to foster a dialogue between regulators and stakeholders
on the basic approaches to risk-based market conduct regulation in Canada. The council said it hopes for a
substantial dialogue with stakeholders about risk-based approaches to market conduct regulation and how to
implement them.
The deadline for comments was February 29, 2008.
The Letter to Stakeholders and report are available on the CCIR Web site at
http://www.ccir-ccrra.org/CCIR/publications/index_en.htm.
CCIR Sets Strategic Plan for 2008-2011
The Canadian Council of Insurance Regulators has set its strategic plan for 2008-2011. Its strategic priorities
are:
• Facilitating informed consumer decision-making
• Facilitating the development and implementation of harmonized regulation
• Eliminating unnecessary regulatory burden
• Actively collaborating with financial services regulators and other stakeholders to respond to changes in the
financial marketplace.
These priorities focus on consumer disclosures, sales practices, variable insurance products, securities and
mutual fund regulation, risk-based market regulation, review of the power of attorney and undertaking system,
and a national complaint reporting system.
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The Letter to Stakeholders and Strategic Plan 2008-2011 are available on the council’s Web site at
http://www.ccir-ccrra.org/CCIR/plan_mission/index_en.htm.
AB Approves Standard Garage Automobile Policy Renewal Certificate
A new Standard Garage Automobile Insurance Renewal Certificate (SRC No. 4) has been approved for use in
Alberta effective April 1, 2008. The announcement was made by the province’s Office of the Superintendent of
Insurance in Bulletin No. 07-07, issued December 12, 2007.
The bulletin is available on the Alberta Finance Web site at
http://www.finance.gov.ab.ca/publications/insurance/super_bulletin0707.pdf.
The Renewal Certificate is available at
http://www.finance.alberta.ca/publications/insurance/super_bulletin0707_src_4.pdf.
AB Minor Injury Regulation Judged Unconstitutional
The Court of Queen’s Bench in Alberta has ruled the Minor Injury Regulation is unconstitutional. The
Government is currently reviewing that decision.
The Court of Queens Bench is a superior court in the provincial judicial system. At The Journal’s publication
deadline, the decision had not been published. However, an announcement about the ruling is available on the
Superintendent of Insurance Web site at http://www.finance.gov.ab.ca/business/insurance/index.html under
Insurance News.
For more information, contact Insurance Regulations and Market Conduct (Alberta Finance), telephone 780427-8322 or -email [email protected].
AB General Election Set for March
Alberta’s Progressive Conservative Premier Ed Stelmach called for a general election on March 3, 2008.
The legislature’s membership is made up of 60 Progressive Conservatives, 16 Liberals, 4 New Democrats, 1
member of the Wildrose Alliance Party, 1 independent, and 1 vacant seat.
Under Alberta’s form of government, elections are called not less than every 5 years after the legislature
convenes but may be called after the majority party loses a vote of confidence or loses a vote on a major
proposal or when the premier believes that the political environment favors maintaining or adding to his/her
majority party. The Conservative Democratic Party has governed the province for the last 37 years.
NB Permits Territorial Rating of Commercial Vehicles
The New Brunswick Insurance Board (NBIB) has published Information Bulletin 2008-01, regarding commercial,
miscellaneous, and interurban vehicles and the implementation of new territories (January 18, 2008).
The bulletin notes that although private passenger automobiles must be rated using the recently-approved
geographic territories the board promulgated, commercial, miscellaneous and interurban vehicles may be rated
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using territories defined at the companies’ discretion. The filing deadline was February 29, 2008, for territorial
indications for new business dated July 1, 2008, and for new business dated September 1, 2008.
The bulletin is available on the NBIB Web site at http://www.nbib-canb.org/Bulletin/2008-1InfoBulletin-e.pdf.
ON Revises Health Claims for Auto Insurers Guideline
The Financial Services Commission of Ontario has issued Superintendent’s Bulletin No. A-08/07 Property &
Casualty – Auto, Health Claims for Auto Insurance Guideline and Changes to Certain Accident Benefit Claim
Forms (December 21, 2007).
The Health Claims for Auto Insurance Guideline replaces the Health Claims for Auto Insurance Rollout
Guideline issued in April 2007. Certain accident benefit forms are also being revised to show what fields are
mandatory.
The new guideline mandates the transmission of certain accident benefit claims forms between health care
providers and insurers by way of a Central Processing Agency (CPA). The CPA is the agent designated to
receive accident benefit claim forms on behalf of insurers. The new guideline names Health Claims for Auto
Insurance Processing (HCAI), an Ontario not-for-profit corporation, as the CPA.
As of February 1, 2008, benefit claims forms can no longer be delivered by a health care provider directly to an
insurer and must instead be delivered to the HCAI for processing.
The bulletin, guideline, and claims forms are available on the FSCO Web site at
http://www.fsco.gov.on.ca/english/pubs/bulletins/autobulletins/2007/a-08_07.asp.
Introducing Field Alert
from the publisher of the CLEAR Report
For as little as $49 per year, your producers can have access to law changes from
the state(s) in which they do business, with an agency subscription to FIELD
ALERTTM
. You know that it is their responsibility to keep current.They know that
not knowing the law can lose them money. . .or their license! Ask about company
discounts! To learn more about FIELD
ALERTTM call 877-474-3664 or visit
www.clearreport.net.
The answer is CLEAR!
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Officers & Directors
General inquiries may be e-mailed to [email protected]. Member e-mail addresses are available through the AICP
website at http://www.aicp.net by clicking on the Members area button.
Leadership 2007-2008
President
Brady Smith
Symetra Life Insurance
425-256-6325
Vice President
Steve LeHew
Zurich North America
847-605-6372
Past President
Katie Gurnett
Physicians Mutual Insurance
Company
402-633-1188
Secretary
Joe Bieniek
National Association
of Insurance
Commissioners
816-783-8226
Treasurer
James D. Morgan
HDI-Gerling America
Insurance Company
312-580-1900
Regional Director
(Great Lakes)
Mary Keim
State Farm Insurance
309-766-8422
Regional Director
(Gulf States)
Dan Hurley
American Traditions
Insurance Company
727-561-0013
Regional Director
(South Central)
Donna Benard
New York Life Insurance
Company LTC Div.
512-703-5475
Regional Director
(New England)
Nick Marrangoni
Liberty Mutual Insurance Group
617-654-3646
Regional Director
(Western)
Greg Theobald
New Mexico Mutual Casualty
Group
505-343-2876
Other Board Members
Regional Director
(Mid-Atlantic)
Sue Eckler-Kerns
Prudential Retirement
732-482-8866
Regional Director
(Heartland)
Shawna Greenway
Farm Bureau Financial Services
515-226-6219
Regional Director
(Midwest Forum)
Judy Wickens
Forethought Financial Services
Inc. 812-933-6814
Regional Director
(Northwest)
Jennifer Kreitler
Washington State Office Of
Insurance Commissioner
360-725-7127
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70
Association Management
(Drohan Management Group)
Executive Director
Rick Guggolz
Drohan Management Group
703-234-4074
General Counsel
Charles Lynch
212-254-4348
Bylaws Chair
Steve LeHew
847-605-6372
Chapter Relations
Dan Hurley
American Traditions
Insurance Company
727-561-0013
Vol. 23, No. 1
The Journal
March 28, 2008
Other Board Members & Committee Chairs
Community Marketing
Nick Marrangoni
Liberty Mutual Insurance Group
617-654-3646
Judy Wickens
Forethought Financial Services
Inc. 812-933-6814
Conference Planning
Elaine Bailey
Red Shield Insurance
Company
503-226-4146 x190
Vice Chair
Bill Douglas
Standard Insurance Company
971-321-7427
Consulting Chair
Carole Deschambault
Unum
207-575-3417
Education
Mike Hollar
Combined Insurance
Company Of America
847-953-1531
Shirley Grossman
Lincoln Heritage Life
Insurance Company
602-957-1650
Finance
James D. Morgan
HDI-Gerling America
Insurance Company
312-580-1900
Bill Douglas
Standard Insurance Company
971-321-7427
Vice Chair
Edward Lybrook
MAG Mutual Insurance
Company 404-842-5673
Publications
Greg Popolizio
The Hanover Insurance Group
508-855-4826
Ms. Jan Vitus
State Of Oregon Insurance
Division
503-947-7278
Co-chair
Art Bowden, Horace Mann
Insurance Company
217-788-5114
Erica Brownell
SAFECO Insurance
206-473-5951
Editor
Darrell Turner
Brotherhood Mutual Insurance
Company
260-481-9963
Government & Industry
Relations
Kim Kennedy
Travelers Companies Inc.
860-277-0052
Marketing Steering
Steve LeHew
847-605-6372
Membership
Linda Snook
Swiss Re
913-676-5307
Elaine Bailey
Red Shield Insurance Company
503-226-4146 x190
Nominating
Katie Gurnett
Physicians Mutual Insurance
Company
402-633-1188
Public Relations
Ranell Tinsley
Bankers Insurance Group
727-823-4000 x4010
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71
Consulting Editor
Brady Smith
Symetra Life Insurance
425-256-6325
Website
Laine Lester
ODEN, a West Business
918-556-5325
Vice Chair
Tyrone Settlemier
Unitrin Business Insurance
214-360-8034
Consulting Chair
Sue Eckler-Kerns
Prudential Retirement
732-482-8866
Communications Liaison
Tom Tomlinson
TT Compliance
309-523-2626
Vol. 23, No. 1
The Journal
March 28, 2008
Chapter Officers 2007-2008
General inquiries may be e-mailed to [email protected]. Member e-mail addresses are available through the AICP
website at http://www.aicp.net by clicking on the Members area button.
Great Lakes
Gulf States
Heartland
President
President
President
Steve LeHew
847-605-6372
Ron Hardeman
RSUI Group, Inc.
404-260-3862
Dave Milligan
American Equity Investment
Life Insurance Company
515-275-3525
Vice President
Vice President
Mike Hollar
Combined Insurance
Company Of America
847-953-1531
Roger Osgood
AIG Agency Auto
770-753-8601
Secretary
Secretary
Kate Manthey
SECURA Insurance
Companies
920-830-4499
Treasurer
Jim Morgan
HDI-Gerling America
Insurance Company
312-456-6779
Past President
Penny Kilberry
Monitor Liability Managers,Inc.
847-806-6590 x570
Beverly Witt
Canal Insurance Company
864-242-5365 x244
Treasurer
Ranell Tinsley
Bankers Insurance Group
727-823-4000 x4010
Past President
Dan Hurley
American Traditions
Insurance Company
727-561-0013
Vice President
Sandra Makela
Berkley Risk Administrators
Company, LLC
612-766-3343
Secretary
Jean Helm
Principal Life Insurance
Company
515-246-7644
Treasurer
Vickie Goodman
Assurity Life Insurance
Company
402-437-4375
Past President
J. Carol Bowers
EMC Insurance Companies
515-345-2009
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March 28, 2008
Mid-Atlantic
Midwest Forum
New England
President
President
President
Cami Adiletto
Max Specialty Insurance
Company
215-706-6320
Denise Conn
AUL-OneAmerica Companies
317-285-4210
Joe Spada
Lincoln Financial Group
860-466-2844
Vice President
Vice President
Zyvonne Adams
Indiana Lumbermens Mutual
Insurance Company
317-875-3709
Lee Davidson
Hanover Insurance Group
508-855-2075
Vice President
Mary Curran
Insurance Services Office
Incorporated (ISO)
201-469-2769
Secretary
Karen Pollitt
Coulter & Associates, Inc.
609-443-1811
Secretary
Secretary
Kim Wright
Ohio National Financial
Services
513-794-6765
Ms. Faye Neilan
The Hartford Steam Boiler
Inspection and Insurance Co.
860-722-5321
Treasurer
Treasurer
Treasurer
Stacy Patacsil
The Baltimore Life Insurance
Companies
410-581-6600 x3050
Doris Jackson
Ohio National Financial
Services
513-794-6400
Brenda Miller
Amica Mutual Insurance
Company
800-652-6422 x4889
Past President
Past President
Past President
Rob Frew
HM Insurance Group
412-544-1139
Karen Crooks
AUL-OneAmerica Companies
317-285-1288
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Peggy Schwartz
Boston Mutual Life Insurance
Company
781-770-0423
Vol. 23, No. 1
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March 28, 2008
Northwest
South Central
Western
President
President
President
Erica Brownell
SAFECO Insurance
206-473-5951
Mr. Laine Lester
ODEN, a West Business
918-556-5325
Inês Piquet
Perr & Knight
310-230-9339 x120
Vice President
Vice President
Vice President
Bill Douglas
Clinton Grumbles
Standard Insurance Company Imperial Fire and Casualty
971-321-7427
972-267-8929
Secretary
Secretary
Drew Bouton
PEMCO Mutual Insurance
Company
206-628-4059
Carol Fuller
Stonington Insurance
Company
972-664-7073
Treasurer
Treasurer
Angela Walicki
Commonwealth Insurance
Company 206-382-6670
Susan Byrnes
New York Life Insurance
Company
512-703-5584
Past President
Sherry Donovan
Mutual Of Enumclaw
Insurance Company
360-825-2591 x3135
Shirley Grossman
Lincoln Heritage Life
Insurance Company
602-957-1650
Secretary
Judy Lahann
Scottsdale Insurance
Company
480-365-3002
Treasurer
Carol Heard
California Casualty
Management Company
650-572-4697
Past President
B. J. Baldwin
Transamerica WMD
501-227-1098
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Past President
Lavinia Asay
American Reliable Insurance
Company
800-535-1333 x284
Vol.122, No. 4
Vol. 23, No.
AICP
The The
Journal
Journal
w e l c o m e s
i t s
n e w e s t
December
March
28, 200821, 2007
m e m b e r s
Bennett Katz
Monica Rutkowski
Brett Eater
Assistant Vice President Of Regulatory Affairs
21st Century Insurance
Woodland Hills, CA
Florida Office of Insurance Regulation
Tallahassee, FL
Small Business Unit Manager
Millers Capital Insurance Company
Carlisle, PA
Robert Dotson
Sr. Regulatory Analyst
Fortress Insurance Company
Round Lake, IL
Vice President, General Counsel
AAA Life Insurance Company
Livonia, MI
Kelly Spenski
Regulatory Compliance Analyst
Accident Fund Company of America
Lansing, MI
Sheryl Moore
President and CEO
Advantage Group Associates, Inc.
Des Moines, IA
Robert McMath
Sr. Compliance Analyst
Aegon (Transamerica Worksite Marketing)
Little Rock, AR
Mat Thekkil
Contract Analyst
Aegon DMS
Plano, TX
Marie Lough
AIG American General
Neptune, NJ
Wanda Coleman
Manager, Direct Marketed Products
AIG Insurance Company
Wilmington, DE
Sylvia Goodrich
American Insurance Administrators, Inc.
Columbus, OH
Florence Marafatsos
Laura Ellsworth
Compliance Project Manager
Gateway Insurance Company
Saint Louis, MO
Cheryl Fine
Market Conduct Coordinator
Golden Rule Insurance Company
Indianapolis, IN
Joan Bantz
HPD Compliance Director
Group Health Cooperative
Seattle, WA
Richard Hirsch
CLO/House Counsel/VP, Business & Legal Affairs
ICAN Benefit Group, LLC
Boca Raton, FL
Sara Bamford
John Martindale
Director, Contract Administration
ConnectiCare, Inc.
Farmington, CT
Leticia Padilla
Director, Compliance & Support
Farmers Insurance Group
Los Angeles, CA
Edmond Balaian
Regulatory Filing and Business Implementation
Supervisor
Farmers Insurance Group
Los Angeles, CA
Katharine Bell
Vice President
New York Central Mutual Fire Insurance Co
Edmeston, NY
Stuart Wilkins
Sr. Counsel
Newtek Business Services
New York, NY
Judy Aden
Commercial Underwriter
Oregon Mutual Insurance
Mcminnville, OR
Latasha Knox-Campbell
Associate General Counsel
Knights of Columbus
New Haven, CT
PICA Group
Brentwood, TN
Vanessa Wilson
Regulatory Compliance Coordinator
Preferred Health Systems, Inc.
Wichita, KS
Michael Samonas
Companion Property and Casualty Insurance
Company
Columbia, SC
Director, Corporate Compliance
Nationwide Life Insurance
Columbus, OH
Richard Carroll
Argonaut
Chicago, IL
Laurie Comfort
Anne Grobben
Gregory Vassilious
Elizabeth Lupetini
Blank & Meenan
Tallahassee, FL
Director, State Filing
Munich Reinsurance America, Inc.
Princeton, NJ
Administrative Coordinator
Interstate Insurance Product Regulation
Commission
Washington, DC
Contract Administrator
KPS Health Plans
Bremerton, WA
Mindy Raymaker
Donna Di Matteo
Vice President
Phoenix Aviation Managers
Kennesaw, GA
Lisa Foos
Gillian Parascandola
Direct, Product Planning
LexisNexis
Miamisburg, OH
Barbara Payne
Louisiana Department of Insurance
Baton Rouge, LA
John McGlynn
Prudential Financial
Livingston, NJ
Janet Moore
Sr. Vice President
Radian Asset Assurance Inc.
New York, NY
David Schonbrun
Coverholder Auditor
Markel International Insurance Company Ltd
London,
Deputy General Counsel and Chief Regulatory &
Compliance Officer
Response Insurance
Meriden, CT
Felicia Dawson
Jason Bradshaw
Compliance Research Analyst
Medico Insurance Co
Omaha, NE
Sammons Financial Group
Chicago, IL
Karl Hug
Chad Dodd
Compliance Analyst
Medico Insurance Company
Omaha, NE
Licensing Specialist
Securities America Inc.
Omaha, NE
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Vol. 23, No. 1
AICP
w e l c o m e s
i t s
n e w e s t
March 28, 2008
m e m b e r s
Tracy Potter
Kristine Williams
James Touse
State Filing Specialist
Selective Insurance Company
Branchville, NJ
Adminisitrator
Tharp and Associates, Inc.
Phoenix, AZ
General Counsel & Compliance Officer
USAble Life
Little Rock, AR
Judy Symons
Maria Manuele
Jeff Worf
State Filing Specialist
Selective Insurance Group, Inc.
Branchville, NJ
Assistant Vice President
The Hartford
New York, NY
VP, Compliance
Wells Fargo
Chicago, IL
Doreen Buller
Annamaria Malveaux
Johanna Southern
State Of Oregon Insurance Division
Salem, OR
Compliance Review Manager
Transamerica Occidental Life Insurance Company
Charlotte, NC
Vice President, Assistant Controller
XL Global Services
Stamford, CT
Shawn Lindblad
Dannielle Curry
Assistant Vice President, Compliance
TREAN Corporation
Eden Prairie, MN
Filing Analyst
Bellwood, IL
Margaret Carvalho
Compliance Consultant
Sun Life Assurance Company of Canada
Hartford, CT
Christopher McAuliffe
Sun Life Financial
Wellesley Hills, MA
Joseph Cohen
Compliance Analyst
Sun Life Financial
Wellesley Hills, MA
Maureen Groome-Lane
Compliance Manager
Ullico Casualty Company
Washington, DC
Michele MacKenzie
Regulatory Compliance Analyst
United Heritage Life Insurance Company
Meridian, ID
The Association of Insurance Compliance Professionals is chartered in the state of Delaware and
registered with the U.S. Internal Revenue Service as a Section 501(c)(6) organization.
A
Section 501(c)(6) tax-exempt organization is classified as a business league. A business league, in general, is an association of persons
having some common business interest, the purpose of which is to promote such common interest and not to engage in a regular business of
a kind ordinarily carried on for profit. Trade associations and professional associations are considered to be business leagues. The business league
must be devoted to the improvement of business conditions of one or more lines of business as distinguished from the performance of particular services
for individual persons. It must be shown that the conditions of a particular trade or the interests of the community will be advanced. No part of its net
earnings may inure to the benefit of any private shareholder or individual and it may not be organized for profit or organized to engage in an activity
ordinarily carried on for profit (even if the business is operated on a cooperative basis or produces only sufficient income to be self-sustaining). The term
“line of business” generally refers either to an entire industry or to all components of an industry within a geographic area.
Tax-exempt organizations must make their last three annual information returns and their approved application for recognition of exemption with all
supporting documents available for public inspection. Pursuant to changes enacted as part of the Taxpayer Bill of Rights 2, the organization will be
required to provide copies of these documents upon request without charge (other than a reasonable fee for reproduction and copying costs). Penalties
are provided for failure to comply with these requirements.
If you need the information returns for AICP (IRS Form 990), please contact our Administrative Headquarters. Documents are available only in hard copy.
The Association of Insurance Compliance Professionals serves over 1,400 members from approximately 500
different insurance companies. Our members are actively involved or have an interest in statutes and regulations on state
filing methods and requirements. Association membership includes personnel from property and casualty insurers, life
and health insurers, insurance regulation and specialty operations.
For membership information, contact the Association of Insurance Compliance Professionals, 12100 Sunset Hills
Road, Suite 130, Reston VA 20190 • 703/234-4074; FAX: 703/435-4390; e-mail: [email protected]; Web Address:
www.aicp.net
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The Journal
Index to AICP Journal, 2007, Volume 22
2007 Index to Advertisers (Mar)
2007 Advertising/Marketing Opportunities (Mar, Jun, Sep, Dec)
2007 AICP Annual Conference (Jun,Sep)
2007 AICP Membership Drive (Mar)
2007 E-Day (Mar)
2007 Scholarship Criteria Expanded (Mar)
2007 Scholarship Recipients Selected (Sep)
AAIRB: A World of Difference (Jun)
AB Implements Revised Standard Garage Policy and Application (Sep)
AB Mandatory Auto Insurance Premiums Remain at 2006 Level (Sep)
AB Restricts Use of ‘Lapse in Coverage’ for Automobile Insurance (Mar)
AB Revises Chiropractic Fees and Disbursements for Automobile Accidents (Jun)
AB Revises Physical Therapy Fees and Disbursements for Automobile Accidents (Jun)
AB Revises Standard Auto Insurance Policy (Jun)
AICP Adopts Policy for Use of Name and Logo (Jun)
AICP, AHIP Launch Preferred Learning Partnership Agreement (Jun)
AICP Announces ACP and CCP Designations for Regulators (Jun)
AICP Annual Election Results Announced (Sep)
AICP Member in the News: Bill Douglas (Dec)
AICP Member in the News: Bonnie Blue (Sep)
AICP Member in the News: Charley Whiffen (Jun)
AICP Member in the News: Edward Lybrook (Mar)
AICP Member in the News: Elaine Bailey (Sep)
AICP Member in the News: Jean Helm (Jun)
AICP Member in the News: Jean Holliday (Jun)
AICP Member in the News: Jennifer Kreitler (Sep)
AICP Member in the News: Judy Lahann (Dec)
AICP Member in the News: Laine Lester (Dec)
AICP Member in the News: Marci Spiegle (Jun)
AICP Member in the News: Nicholas Marrangoni (Sep)
AICP Member in the News: Nancy French (Jun)
AICP Member in the News: Tyrone Settlemier (Mar)
AICP Officers & Directors (Mar, Jun, Sep, Dec)
AICP Opportunities Keep You Moving Along! (Mar)
AICP Welcomes Its Newest Members (Mar, Jun, Sep, Dec)
AK Adopts Risk Based Capital Instructions (Mar)
AK Consents to Deviate Rate Filing Procedure for All Property and Casualty Insurers (Mar)
AK Issues Bail Bond Regulations (Dec)
AK Lists Eligible Surplus Lines Insurers (Sep)
AK Sets Education Requirements for Producers Selling Flood Insurance Policies (Mar)
AK Workers Compensation Review and Advisory Committee Sets 2007 Meeting Dates (Mar)
AL Announces Shortened Limitation of Action Clauses on Policy Forms (Dec)
AL Applies Alternative Procedures for Tornado Claims (Jun)
AL Extends Its Authority to Share Confidential Information (Mar)
AL Makes SERFF Filings Mandatory (Jun)
AL Mandates Filing Requirements for Zero Premium Life Insurance (Sep)
AL Reminds Domestic Insurers of Dividend Requirements (Dec)
AL Repeals Coverage Requirements Bulletin (Jun)
AL Requires Flood Insurance Training for Producers (Mar)
AL Requires 90-day Notice for Group Non-renewals (Mar)
AL Sets Rules for Medicare Advantage Producers (Sep)
AR 2007 Legislative Session – LTC (Mar)
AR Adds 2 ‘Health Care Practitioners’ Under ‘Any Willing Provider Law’ (Mar)
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AR Announces On-line Producer Appointments and Cancellations (Mar)
AR ‘Closed Blocks’ Act (Mar)
AR Completes 2007 Legislative Session (Jun)
AR Directive on Annuity Sales Practices to Seniors (Mar)
AR Expands Definition of Policy, Curbs Second Injury Trust Fund Claims (Jun)
AR Mandates Waivers of Occupancy Rules for Armed Services Personnel (Sep)
AR Minimum Training Requirements – Federal Flood Insurance Producers (Mar)
AZ Explains Utilization Review Laws (Dec)
AZ Issues Annual Report on Health Insurers (Sep)
AZ Legislature’s Session Begins with a Blizzard of Bills (Mar)
AZ Updates Auto Premium Comparison (Jun)
Bailey Receives 2007 President’s Award (Dec)
BC Eliminates Rate Filing Requirements for Auto Insurance (Dec)
BC Issues Cease and Desist Order to Internet-Based Insurance Company (Jun)
BC Utilities Commission Approves Basic Insurance Rates (Sep)
CA Adopts Regulations (Mar)
CA Citrus Freeze Means Insurance Claims (Mar)
CA Commissioner Declares Insurance Emergency (Dec)
CA Commissioner Orders Audit of State Compensation Insurance Fund (Jun)
CA Commissioner Sets Priorities: Fraud and Natural Disasters (Jun)
CA Court Upholds Auto Rating Regulations (Mar)
CA Court Upholds Installment Fees on Premium Payment Plans (Sep)
CA Disability Loss Ratios (Mar)
CA Elects Poizner Insurance Commissioner (Mar)
CA Fraud Bill Approved by Committee (Jun)
CA Increases Fraud Assessments, Mandates Study of WC Insolvencies (Dec)
CA Insurance, Forestry Departments Agree on Fire Mitigation Plan (Dec)
CA Insurance Gender Non Discrimination (Mar)
CA Issues New Ratemaking Data Template (Jun)
CA Life and Annuity Consumer Protection Fund (Mar)
CA Lowers Underwriting Requirement for CEA Participants (Dec)
CA Names Deputy Commissioner for Rate Regulation (Sep)
CA Names Staggs Interim General Counsel (Sep)
CA Proposes Changes in Financing for Earthquake Limits Program (Dec)
CA Proposes Workers’ Compensation Regulations (Sep)
CA Unclaimed Property Injunction Lifted (Dec)
Canadian Regulators Release Point of Sale Disclosure Framework for Funds (Sep)
CEA Focuses on Financial Stability (Sep)
Charlie ‘Rap’ to Retire from New York DOI After 35 Years (Dec)
CMS Issues Guidance for NPI Non-Compliance (Jun)
CMS Plans Competitive Bidding for Clinical Lab Services (Dec)
CMS Reminds of NPI Deadline (Mar)
CO Bill Would Allow UM/UIM Stacking (Jun)
CO Ethics Requirements (Mar)
CO House Approves Workers’ Compensation Changes (Jun)
CO Insurers Defeat Medical Payments Coverage Proposal (Jun)
CO: Morrison Appointed Insurance Commissioner (Mar)
CO Producer Licensing Bulletins (Mar)
CO Surplus Lines Procedures (Mar)
CO to Implement SERFF (Dec)
Committee Corner: Bylaws (Jun)
Committee Corner: Chapter Relations (Mar)
Committee Corner: Community Marketing (Mar, Sep)
Committee Corner: Conference Planning (Mar, Sep)
Committee Corner: Education (Sep, Dec)
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Vol. 23, No. 1
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March 28, 2008
Committee Corner: Finance (Dec)
Committee Corner: Government and Industry Relations (Mar, Sep)
Committee Corner: Membership (Sep)
Committee Corner: Nominating (Jun)
Committee Corner: Publications (Jun, Sep)
Committee Corner: Public Relations (Jun, Dec)
Compliance Salary Survey (Mar)
CT Cites Statutes on Health Claim Filings (Dec)
CT Clarifies Loss of Use Payments in Third-party Auto Claims (Sep)
CT Creates Web Site on Long-Term Care Insurance (Dec)
CT Insurance Commissioner Named (Jun)
CT Releases Coastal Homeowners Guidelines (Mar)
CT Sets Penalties for Late Filing of Financial Statements (Dec)
CT Statement of Statutory Accounting Principles (Jun)
CT Strengthens Laws on Health Policy Rescissions, Cancellations (Dec)
DC Clarifies File and Use Provision (Mar)
DC Clarifies Law on Substance Abuse and Mental Illness Coverage (Jun)
DC Increases Requirements for Substance Abuse and Mental Illness Coverage (Mar)
DC Requires Health Plan Coverage for Habilitative Services for Children (Mar)
DC Requires Notification for Breaches of Consumer Personal Information Security (Mar)
DC Revises Alcoholism and Drug Dependency Benefits Limitations (Mar)
DE Department of Insurance to Oversee Managed Care Organizations (Mar)
DE Issues Filing Guidelines for Dependent Child Coverage (Sep)
DE Regulates Life, Annuity Sales to Military Personnel (Dec)
DE Requires Workers’ Compensation for Independent Contractors (Sep)
DE Revises Benefits Rule to Address Divorce or Separation (Sep)
DE Revises Regulations for Medical Insurance Claims (Jun)
DE to Require Electronic Filings (Sep)
Douglas Receives Lennon Award (Dec)
E-Discovery Amendments Involve Data Storage and Accessibility (Dec)
Enhanced Fujita Scale Implemented For Tornado Evaluation (Jun)
Financial Industry Regulatory Authority Begins Operations (Sep)
FinCEN SAR Activity Review Reports on the Insurance Industry (Jun)
FINRA Offers Guidance on Deferred Variable Annuity Transactions (Dec)
FL Adopts Curriculum Standards for Licensees (Sep)
FL Adopts Procedural Rules Governing Sinkhole Claims (Dec)
FL Adopts Property and Casualty Rules (Sep)
FL Adopts Rules for Health Insurance, Long-term Care, and Managed Care (Sep)
FL Adopts Rules for Hurricane Catastrophe Fund (Sep)
FL Adopts Rules Regulating Long-Term Care Rates (Dec)
FL Adopts Rules Setting Standard Risk Rates (Dec)
FL Allows Unrated Self-Insurance Funds to Quality for Proof of Coverage (Sep)
FL Amends Insurance Rules (Mar)
FL Amends Rules for Discount Medical Plan Organization Rate and Form Filings (Dec)
FL Amends Rules for Filing P&C Forms, Rates and Rating Manuals (Dec)
FL Assures Confidentiality of Work Papers (Sep)
FL CFO Appoints Consumer Advocate (Jun)
FL Commissioner Approves Amended NCCI Workers’ Compensation Rate Filing (Dec)
FL Commissioner Approves FIGA Assessment (Dec)
FL Court Orders Vanguard Fire & Casualty Company Liquidated (Jun)
FL Court Says Federal Crop Insurance Laws Preempt State Law (Sep)
FL Creates Limited Licenses for Travel Insurance and Motor Vehicle Rental Insurance (Sep)
FL Creates Workers’ Compensation Joint Underwriting Association (Sep)
FL Defines ‘Occupational Disease’ (Sep)
FL Emergency Rule Prohibits Nonrenewal of Personal Lines Residential Property Policies (Mar)
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FL Expanding Coverage Offered by Citizens Property Insurance Corporation (Jun)
FL Expands Government Insurance and Reinsurance Programs (Mar)
FL Expands Wind Loss Mitigation Grants (Sep)
FL Highlights Disaster Reporting Requirements (Dec)
FL Implements Property Insurance Reform Bill (Jun)
FL Issues Informational Memoranda (Mar, Sep)
FL Issues New Rules for Agents and Risk Bearing Entities (Sep)
FL Issues Reminders to Health and Title Agents (Dec)
FL Issues Report on Health Insurance Market (Dec)
FL Issues Reports and Studies (Jun)
FL Judge Strikes Down Credit Score Rule (Mar)
FL Limits Premium for Certificate of Mortgage Release (Jun)
FL Mandates Liability Coverage After DUI Convictions (Sep)
FL Modifies Property Insurance Regulations (Sep)
FL Office of Insurance Regulation Announces New Appointments (Sep)
FL Orders Annuity Marketer to Halt Activities in State (Jun)
FL Places 2 Companies in Receiverships (Mar)
FL Reenacts Vehicle No-Fault Law (Dec)
FL Regulates Acquisition of Controlling Interest in Domestic Stock Insurers (Sep)
FL Regulates Solicitations to Military Personnel (Dec)
FL Regulates Transfers to Skilled Nursing Facilities (Sep)
FL Releases 2007 Annual Report on Medical Malpractice Insurance Market (Dec)
FL Reports Cover Medical, Workers’ Compensation, and Insurance Market Trends (Mar)
FL Requires Five-year Examinations of Domestic Insurers (Sep)
FL Restricts Purchases of Owner-controlled Insurance Programs (Sep)
FL Sets Guidelines for Hurricane CAT Fund (Sep)
FL Supreme Court Adopts Narrow Construction of Valued Policy Law (Dec)
GA Adopts New Annuity Regulations to Provide Consumer Protection (Mar)
GA Asbestos Claims Statute Ruled Unconstitutional (Mar)
GA Implements Online Staff Adjuster Registration System (Sep)
GA Makes P&C SERFF Filings Mandatory (Mar)
GAO Criticizes National Flood Insurance Program (Dec)
GAO Issues Report on Retirement Timing (Sep)
GAO Recommends Changes for Some Medicare Part D Enrollees (Jun)
GAO Recommends Strengthened Regulation and Oversight of Title Insurance Industry (Jun)
GAO Report Says SSN Protection Could be Improved (Sep)
GAO Reviews Crop Insurance Management (Sep)
Get in the Game: AICP Nominations Close June 22! (Jun)
Government Introduces Parliamentary Changes (Dec)
Great Lakes Chapter Celebrates Its 2007 Volunteers! (Dec)
Heartland Chapter Honors Stacie Baker (Dec)
Heartland Chapter Recognizes 2007 Volunteers (Dec)
HI Announces Captive Milestone (Mar)
HI Approves Workers’ Compensation Loss Cost Decrease (Dec)
HI Considers Several Insurance Bills (Jun)
HI Fails to Override WC Vetoes (Sep)
HI Hurricane Retrofits Website (Mar)
HI Insurance Commissioner Testifies on Credit Scores (Dec)
IA Adds Long-Term Care Producer Training Sub-Rule (Dec)
IA Adopts NAIC Model Regulation on Military Sales Practices (Dec)
IA Amends Viatical and Life Settlements Regulation (Mar)
IA Changes Market Regulation Initiatives (Mar)
IA Enacts Livestock Liability Law (Jun)
IA Interprets Law on Associations and Group Health Plans (Sep)
IA Issues Guidance on Workers’ Compensation Bill, Senate File 421 (Sep)
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IA Regulates Use of Producer Designations for Senior Sales (Dec)
IA Releases Information on Producer Continuing Education Requirements (Mar)
IA Requires SERFF Filings (Jun)
ID Announces Reduction in Workers’ Compensation Rates (Dec)
ID Bulletins Affect Life and Health Carriers (Sep)
ID Revises Flood, NIPAA, Life, Surplus Lines, Accounting Provisions (Jun)
ID Revises Insurance Code (Sep)
ID Sets 2007 Legislative Schedule (Mar)
IIPRC Continues Start-up Activity (Mar)
IIPRC Voting on Filing Fees (Sep)
IL Allows Additional Damages in Wrongful Death Cases (Sep)
IL Amends Quarterly Reporting Rules (Dec)
IL Appellate Court Holds That Agents Owe Duty of Care (Sep)
IL Amends Accident and Health Reserves (Mar)
IN Clarifies Legislative Intent Regarding Homeowner Coverage Reductions (Sep)
IL Establishes Medical Liability Reporting Requirements (Mar)
IN Issues Bulletins on Coverage Change Notices (Dec)
IL Requires Quarterly and Annual Rate Reporting for Accident and Health Coverages (Sep)
IN Requires Written Notice of P/C Policy Changes (Sep)
IL Streamlines Process for Life and Annuity Filings (Jun)
IN Adopts Omnibus Insurance Law (Jun)
IN Amends Producer Licensing Requirements (Sep)
IN Clarifies Coverage for Dependent Children (Dec)
IN Issues Bulletin Regarding Dependent Coverage Expansion (Sep)
IN Issues Self-Certification Process for Life and Annuity Policy Forms and Actuarial Filings (Mar)
KS Addresses LTC Partnership Program Implementation (Dec)
KS Eliminates Filing Requirements (Jun)
KS Establishes Military Sales Practices Standards (Dec)
KS Establishes Two Task Forces (Jun)
KS Issues Final Utilization Review Regulations (Mar)
KS Policy Form Filings in SERFF (Sep)
KS Requires Amendments to Auto Insurer Filings (Sep)
KS Requires Workers’ Compensation Reimbursement for Registered Nurse First Assistants (Jun)
KS Revises Statutes on Certificate Filing, Fraud, Financial Examination Reporting (Jun)
KY Addresses Illegal Inducements (Sep)
KY Lists Changes in Premium Tax Schedules (Dec)
KY Revises Retaliatory Filing Fee Form (Sep)
LA Guidelines for Implementation of the Citizens’ Emergency Assessment (Mar)
LA Issues Guidelines to Resolve Disputes Between Insurers and Collision Repair Facilities (Sep)
LA Launches New Electronic Filing System (Sep)
LA Medicare Plans (Mar)
LA Regulation 76 Amended (Mar)
LA Required Disclosure Forms for Homeowners or Commercial Policies (Mar)
LA Suitability in Annuity Transactions (Mar)
Lennon Award Nominations Sought (Jun)
MA ‘Charlie Card” & the Public Transit Discount (Jun)
MA Clarifies Dependent Eligibility (Jun)
MA Clarifies Health Plan Requirements (Jun)
MA Director of Policy Form Review Resigns (Dec)
MA Group Discounts/Deviations and Certified Advanced Driver Training Programs (Mar)
MA Meeting Discusses Filing Issues (Sep)
MA Moves Toward Managed Competition in Automobile Insurance (Sep)
MA P&C Forum Discusses Requirements for Filings (Dec)
MA Reopens Online Producer Appointment Renewal Web Site (Dec)
MA Requires Medicare Addendum (Jun)
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Market Conduct Annual Statement Provides Uniform Data for Regulators (Jun)
Mary Hendrickson Named New England Chapter Volunteer of the Year (Sep)
MB Auto Insurance Rebate Cheques Mailed (Jun)
MB Sets Timetable for 2008-2009 Rates for Compulsory Auto Insurance (Sep)
McCarran-Ferguson Changes Would Challenge Industry (Jun)
MD Adopts Regulation Regarding Suitability in Annuity Transactions (Sep)
MD Adopts Regulations on Viaticals (Jun)
MD Allows Some Inquiries About Race and Ethnicity (Dec)
MD Amends Comprehensive Standard Health Benefit Plan (Jun)
MD Amends Dependent Health Coverage (Dec)
MD Amends Group Life Dependent Coverage (Dec)
MD Amends Provisions Pertaining to Preferred Provider Organizations (Dec)
MD Establishes Requirements for Non-Physician Specialist Patient Referrals (Dec)
MD Permits Cost Sharing for Health Insurance Plans (Sep)
MD Reminds Insurers of Revision of ISO Public Fire Protection Classification (Mar)
MD Restricts Co-payments for Certain Drugs or Devices (Dec)
MD Revises Unfair Claims Settlement Practices Statutes (Dec)
MD Sets Claims Denial Provisions for Managed Care Organizations (Sep)
MD Sets Rules for Discount Health Plans (Sep)
ME Annuity Suitability Rule Adopted (Jun)
ME Insurance Rule Ch. 130 – Min Reserve Standards for Health Insurance (Mar)
ME Insurance Rule Ch. 542 – Educational Requirements (Mar)
ME Insurance Rule Ch. 780 – Actuarial Opinion and Memorandum (Mar)
ME Summarizes 2007 Life and Health Legislation (Dec)
MI Adjusts Loss Thresholds for Homeowner Nonrenewals (Sep)
MI Adopts Interstate Compact (Mar)
MI Allows Premium Discount for Completion of Traffic Safety Course (Jun)
MI Approves Discretionary Clause Rules (Jun)
MI Bars Shortened Limitation of Action Clauses (Sep)
MI Court of Appeals Rules on PIP Reimbursement by MCCA (Jun)
MI Enacts Auto Accident Prevention Course Discount (Mar)
MI Insurance Commissioner Resigns (Dec)
MI Prohibits Discretionary Clauses (Sep)
MI Revises Group Life Insurance (Mar)
MI Sets Data Security Breach Requirements (Mar)
MI Submits Discretionary Clauses Rules (Mar)
MI Updates Benefit Limits for Uninsured Motorists and Personal Injury Protection (Dec)
MN Amends Mandate for Hearing Aids for Minors (Sep)
MN Changes Definition of ‘Dependent’ (Sep)
MN Clarifies Conditional Notice Requirements for P&C Commercial Policies (Dec)
MN Clarifies Long-Term Care Inflation Protection (Sep)
MN Clarifies Right to Cancel Notice for Individual Policies (Sep)
MN Clarifies Rules of Arbitration for Indemnity Claims, Liability for Home Sales (Jun)
MN Delays Restrictions on Use of Social Security Numbers (Sep)
MN Enacts Omnibus Insurance Law (Sep)
MN Issues Long-Term Care Instructions (Dec)
MN Life Insurance Modernization Revisions (Sept)
MN Requires Confirmation of Producer Training for Long-Term Care Sales (Sep)
MN Requires Coverage of Colorectal Cancer Screenings (Sep)
MN Requires SERFF Filings (Dec)
MN Repeals Random Insurance Verification System (Jun)
MN Revises Insurance Requirements for Building Contractors (Jun)
MO Adopts Medical Malpractice Filing Rules (Jun)
MO Adopts New Health Benefit Plan Rules for Associations with Small, Large Employers (Mar)
MO Approves High Deductible Health Plans for Public Employees (Sep)
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MO Complies With HIPPA (Sep)
MO Department of Labor Announces New State Average Weekly Wage (Sep)
MO Explains Health Benefit Plan Rating Requirements (Dec)
MO Exempts Certain Life and Health Forms from Prior Approval (Sep)
MO Health Plan Access Legislation Takes Effect (Dec)
MO Names New Deputy Director and General Counsel (Jun)
MO Names New Insurance Commissioner (Mar)
MO Requires Group Health Plan Reports on Claims (Sep)
MO Supreme Court Awards Husband’s Disability Benefits to Widow (Jun)
MO Updates List of Approved Nonadmitted Insurers (Dec)
MS Approves Non-Binding Arbitration for Homeowners Katrina Claims (Jun)
MS Clarifies Payment of Sales Tax in Auto Total Losses (Sep)
MS Commissioner Approves Rate Reductions (Sep)
MS Commissioner Praises Nationwide Payments on Katrina Slab Claims (Sep)
MS Explains Lapse Time for Public Adjusters (Sep)
MS Insurance Official Testifies on Abusive Medicare Advantage Sales Practices (Sep)
MS Passes Pharmacy Benefit Manager Prompt Pay Act (Jun)
MS Proposes Homeowners Policyholders Bill of Rights (Mar)
MS Requires Flood Insurance Training for Producers (Jun)
MS Wind Pool Approves New Rate Reduction Measures (Dec)
MS Wind Pool Reduces Rates (Jun)
MT Explains Dependent Age and Well Child Care Laws (Dec)
MT Explains How to Avoid Stacking (Dec)
MT Sets Training Requirements for Producers of Long-Term Care Insurance (Dec)
NB Announces New Auto Insurance Territories (Sep)
NC Adopts NAIC Standards for Agent Licensing and CE Requirements (Dec)
NC Clarifies Content of Notice Concerning Coverage Limitations and Exclusions (Jun)
NC Creates Residential Property Mediation Program (Mar)
NC Enacts Changes to Disaster Mediation Program (Dec)
NC Interprets Variations in Administrative Expenses for Small Group Health Plans (Jun)
NC Outlines Catastrophic Event Procedures for Adjusters (Sep)
ND Announces Long-Term Care Partnership Program, Requires Producer Training (Dec)
ND Department Bulletin Explains Use and File Provisions (Sep)
ND Enacts Viatical Settlements Model Act (Jun)
ND Insurance Commissioner Resigns (Dec)
ND Requires Proof of Insurance (Jun)
NE Announces Information-Sharing Agreement with Germany (Dec)
NE Approves Long-Term Care Partnership Program (Dec)
NE Enacts Credit Report Protection Act (Sep)
NE Fall Newsletter Published (Dec)
NE Insurance Director Dies (Dec)
NE Offers Guidelines on Rebates and Inducements, Ratings for Farms and Ranches (Jun)
NE Raises Concerns About Use of Designations for Senior Sales (Dec)
NE Redefines Automobile Liability Policy (Jun)
NE Requires Coverage of Colorectal Cancer Screenings (Sep)
NE Requires Long-Term Care Insurance Sales Training (Dec)
Nebraska and Germany Enter Information Sharing Agreement (Dec)
NH Changes Policy on Active Producer Appointments (Dec)
NH Explains Implementation of Divorced Spouse Bill (Dec)
NH Explains Valuation Guidelines for Total Loss Claims (Dec)
NH Insurance Regulation 415-H – Stop Loss (Mar)
NH Mandates SERFF Filings (Dec)
NH Personal Automobile and Credit in Rating (Jun)
NH Prepares Guidelines for Property Casualty Claim Settlements (Sep)
NJ Amends Death Benefit Standards (Mar)
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NJ Cautions Health Carriers About Side Agreements (Sep)
NJ Describes Coverage Options Under Civil Union Act (Jun)
NJ Eases Filing of Individual Life and Annuity Forms (Jun)
NJ Expands Rights and Benefits of Same-sex Couples (Mar)
NJ Releases Data Submitted by Voluntary Private Passenger Insurers (Jun)
NJ Sets Rates for Life Insurance and Annuity Contracts (Dec)
NJ to Amend Health Care Enrollment and Change Request Forms (Jun)
NL Issues Principles for the Sale of Insurance (Jun)
MN Clarifies P/C Filing Requirements (Dec)
NM Passes Regulatory Modernization Act (Jun)
NV Annuity Suitability Regulation (Mar)
NV Requires Adverse Action Notice for Insurance Scoring (Sep)
NY Amends Regulations on Personal Injury Protection Benefits, Arbitration (Jun)
NY Announces 7 Percent Drop in Automobile Insurance Plan Rates (Sep)
NY Changes SIU Report Filing Method (Jun)
NY Cites Requirements for Selling Flood Insurance Policies (Jun)
NY Claims for Personal Injury Protection (Mar)
NY Corporate Emergency Access System Insurance Adjuster Credentialing Program (Jun)
NY Establishes Requirements for Credit Personal Property Insurance (Jun)
NY Fraud Reporting Requirements (Mar)
NY Medical Malpractice Data Call (Mar)
NY Statutory Conversion Major Medical Coverage (Mar)
NY Updates Disaster Response Program for Life Insurers, Retirement Systems (Jun)
NY Warns of Unlawful Inducements for Homeowner Policies (Dec)
OH Adopts Agent Licensing and Appointment Rules (Mar)
OH Alliance Program, Small Group Rating and Discount Medical Plan Regulation Changes (Mar)
OH Announces Changes to Agent Continuing Education Procedures (Dec)
OH Announces Department of Insurance Staffing Changes (Jun)
OH Enacts Mental Health Parity Legislation (Mar)
OH Establishes Long-Term Care Partnership (Dec)
OH Insurance Department Adds Language Translation Service (Dec)
OH Issues Military Sales Regulation (Dec)
OH Names New Department of Insurance Director (Mar)
OH Replaces Life and Annuities Regulation (Mar)
OH Revises Unfair Trade Practices and Unfair Property/Casualty Claims Practices Rules (Jun)
OH Supreme Court Rules in Collateral Source Case (Mar)
OK - 2007 Oklahoma Climate and Loss Mitigation Conference (Mar)
OK Bill Addresses Commissioner’s Authority, Notifications of Claim Defects (Sep)
OK Elects Holland (Mar)
OK Legislative Session (Mar)
OK Sets Requirements for Adjusters and Producers (Sep)
ON 2007 Auto Changes Announced (Mar)
ON Amends Garage Policy and Commercial Auto Forms (Dec)
ON: Best Practices for Preferred Provider Networks (PPNs) (Mar)
ON Commercial Liability Statistical Plan – FOIPOP Notice (Mar)
ON Expands Harmonized Classes of Insurance and Applicable Definitions (Jun)
ON Filing Guidelines and Technical Notes for Automobile Insurance Rate and Risk Classification Filings (Mar)
ON Issues Guideline on Health Claims for Auto Insurance Rollout (Jun)
ON SABS Paralegals Now Regulated by Law Society of Upper Canada (Jun)
OR Bulletins Discuss Flood Insurance Training Requirements, NAIC Manuals (Sep)
OR Clarifies SERFF Filing Rules (Sep)
OR Explains Form Filing Procedures (Dec)
OR Law Recognizes Domestic Partnerships (Sep)
OR Offers E-Notification of Changes and Information (Sep)
OR Posts 2007 Legislative Summary (Sep)
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OR Proposes Legislative Changes (Mar)
OR Proposes Military Sales Practices Regulation (Sep)
OR Proposes Taxation of Annuity Premiums (Sep)
OR Sets 2007 Legislative Schedule (Mar)
OR Sets Standards for Travel Benefits (Dec)
OR Taps Scott Kipper of Louisiana to Lead Insurance Division (Dec)
OR Updates Medlcal/Health Care, Life Insurance Laws (Jun)
OSFI Announces Amendments to Part XIII of the Insurance Companies Act (Jun)
OSFI Announces Restrictions on Democratic People’s Republic of Korea (Mar)
OSFI Reminder for Earthquake Reporting (Mar)
OSFI Revises Data Maintenance and Processing Requirements (Sep)
OSFI Surveys Public Confidence in Canadian Financial Institutions (Dec)
OSFI Updates Memorandum for P&C Actuarial Reports (Dec)
PA Calls for Workers’ Compensation Information (Jun)
PA Law Protects Privacy of Social Security Numbers (Mar)
QC Revises Proposal for Mutual Fund Regulatory Framework (Dec)
QC Updates Actuarial Requirements (Mar)
Regulator Meeting Another Success for AICP (Jun)
Regulators Recognize NAVA Standards for Annuity Processes (Dec)
RI Cautions on Use of Outside Vendors for Titling Total Loss Vehicles (Dec)
RI Expedites Process for Life Insurance Policy Filings (Dec)
RI Insurance Regulation 108: Auto Body Labor Rate Survey (Jun)
RI Issues Advisory on Scheduled Debits and Credits (Dec)
RI Mandates SERFF and EFT (Sep)
RI Regulation 18 – Recognition of Preferred Mortality Tables (Mar)
Safe Harbor Model Privacy Form Proposed for Disclosures (Jun)
SC Advises Resident Producers of Ethics Training Requirements (Sep)
SC Announces Essential Property Coverage to Areas Within the Seacoast Territory (Jun)
SC Announces Tentative Credit Accident and Health Insurance Rates (Dec)
SC Announces Tentative Credit Property Insurance Rates for 2008 (Dec)
SC Clarifies Cancellation/Nonrenewal Provisions (Dec)
SC Clarifies Exclusions and Limitations in Automobile Insurance Policies (Dec)
SC Clarifies Fees for Life, Accident & Health Insurers (Dec)
SC Disburses UM Distributions to Insurers (Jun)
SC Enacts Omnibus Coastal Property Insurance Reform Act of 2007 (Sep)
SC Expands Wind Pool Territory (Sep)
SC Explains Definition of ‘Practice of Medicine’ (Mar)
SC Explains Method for Remitting Nonresident Broker Premium Taxes (Dec)
SC Issues Requirements for Mitigation Discounts and Credits (Dec)
SC Policy Council Analyzes Workers” Comp System (Mar)
SC Requires Filing of Underwriting Guideline Changes by Geography (Mar)
SC Requires WC Insurers to Keep Copies of Rate and Form Filings (Dec)
SC Sets New Procedures for Loss Cost Multiplier Filings (Dec)
SC Warns Unauthorized COBRA Service Providers (Jun)
SD Allows Reimbursement for Medical Assistance from Additional Third Parties (Jun)
SD Bill Aims to Deter Illegal Multiple Employer Welfare Arrangements (Jun)
SD Changes Long-Term Care Regulations (Dec)
SD DOI Issues Summer Newsletter (Sep)
SD DOI Provides Guidance on Electronic Annuity Transactions (Dec)
SD Extends Dependent Coverage to Age 29 (Jun)
SD Insurance Division Publishes Fall Newsletter (Dec)
SD Publishes Long-Term Care Producer Training Requirements (Dec)
SD Redefines Long-Term Care (Jun)
SD Requires SERFF Filings (Jun)
SD to List Approved Long-Term Care Training Courses (Dec)
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SD Updates Long-Term Care Regulations (Sep)
Securities Industry Overwhelmingly Approves NASD By-law Changes (Mar)
Shop AICP! (Sep)
Thanks to South Central Chapter Volunteers (Dec)
Thank You, Northwest Chapter Volunteers! (Dec)
TN Adopts Emergency Rules Clarifying Medical Fee Schedule (Mar)
TN Releases Medical Malpractice Claims Report (Mar)
TN Renews Licenses for 2 Years (Jun)
TN Sets Forth Licensing Requirements for Public Adjusters (Sep)
Treasury and IRS Issue Guidance on New Distribution Provisions of Pension Protection Act (Mar)
TX Additional Fingerprint Processing Fee (Mar)
TX Adopts Optional Use of Preferred Mortality Tables (Jun)
TX Amends Workers’ Compensation Rules for Self-Insurance Groups (Jun)
TX April Weather-Related Events Were Catastrophe (Jun)
TX Biennial Report (Mar)
TX Calls for Closed Claim Reports (Sep)
TX Cautions Consumers About Medicare Advantage Fraud (Dec)
TX Determines Payroll Requirements for Coverage of Seasonal Workers (Dec)
TX Escrow Officer Authorization (Mar)
TX Financial Responsibility Verification Program (Mar)
TX Institutes Voluntary Product Checklist Pilot Project (Jun)
TX Issues Calls for Workers’ Compensation Experience (Sep)
TX Issues Data Calls for Preferred Provider Health Plans and HMOs (Sep)
TX Issues Final Rule Revising Required Policyholder Notice (Mar)
TX Issues Red Flags for Mortgage Fraud (Jun)
TX Issues Requirements for Viatical and Life Settlement Providers and Brokers (Sep)
TX Nonfatal Occupational Injury Illness and Incidence Rate up in 2006 (Dec)
TX Requires Electronic Data Exchange for Workers’ Compensation (Dec)
TX Revises Eligibility Standards for Windstorm and Hail Coverage (Sep)
TX Sets Workers’ Compensation Weekly Benefit Rates (Dec)
TX Updates Financial Responsibility Verification Program Reporting Guide (Sep)
TX Withdraws Two Workers’ Compensation Advisories (Sep)
TX Workers’ Compensation Administrative Violations (Mar)
TX Workers’ Compensation Bulletin (Mar)
TX Workers’ Compensation IRO Changes (Mar)
TX Workers’ Compensation Utilization Review (Mar)
UT Accident and Health Filing Requirements (Mar)
UT Adopts Insurance-related Bills (Jun)
UT Announces Increase in Captive Formations (Mar)
UT Clarifies Procedure for Non-compliant Filings (Jun)
UT Explains how to Protect Private Information in Filings (Dec)
UT Filing Alternative Information (Mar)
UT Mandates Electronic Filings of Forms, Rates, and Reports (Jun)
UT Partners With Feds to Provide Health Insurance for Children (Jun)
UT Rules Adoptions (Mar)
VA Adopts NAIC Loss Cost Filing Forms (Mar)
VA Clarifies Insurable Interest of Life Insurance (Sep)
VA Clarifies Rating Plans and Rules for Facultative Reinsurance Costs (Mar)
VA Clarifies State Employees’ Eligibility for Health Benefits (Sep)
VA Extends Hours for Public Review of Rule, Rate and Form Filings (Dec)
VA Revises Regulations on Replacements of Life Insurance and Annuities (Jun)
VA Re-enacted Health Coverage Regulations for State Law Enforcement Officers (Jun)
VA Sets Rules for Dependent Coverage Under Group Accident and Sickness Policies (Sep)
VA Sets Rules for HMO Conversions to Accident and Sickness Carriers (Sep)’
VT Explains Insurance Obligations of Anti-Discrimination Act (Dec)
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March 28, 2008
VT Obligations for Association Benefit Plans (Jun)
VT Uniform Provider Credentialing (Mar)
VT Uninsured Motorist and Form Filings (Jun)
VT Workers’ Compensation Rate Decrease (Jun)
WA Adopts Disclosure Form for Fixed Payment Products (Dec)
WA Adopts Standards for Coordination of Benefits (Sep)
WA Adopts WAC 284-17-220 – Who is Required To Meet Continuing Education (CE) Requirements? (Mar)
WA Amends WAC 284-20A-050 – What Constitutes a Medical Malpractice Insurance Policy? (Mar)
WA Changes Market Conduct Oversight Rules (Sep)
WA Changes Requirements for Employers Unable to Purchase U.S. Longshore and Harbor Workers’ Compensation Act
Coverage (Mar)
WA Clarifies Life Insurance Sales to Armed Forces Personnel (Dec)
WA Eliminates Conflict on PIP Coverage (Dec)
WA Establishes Market Conduct Oversight (Jun)
WA Expands Bad-Faith Liability (Jun)
WA Implements Health Care Liability Reform (Sep)
WA Issues Nondiscrimination Requirements for Health Benefit Plans (Mar)
WA Lists Proposed Rules (Sep)
WA Regulates Rebates and Illegal Inducements for Title Insurers and Their Agents (Mar)
WA Sets 2007 Legislative Agenda (Mar)
WA Streamlines Rules for Agents and Brokers (Jun)
WA Updates Description of the OIC (Mar)
Washington State Adopts Market Conduct Oversight (Dec)
WI Appoints Deputy Insurance Commissioner (Jun)
WI Clarifies UM/UIM Requirements (Sep)
WI Insurance Commissioner and Industry Reach Agreement on INS 9 (Mar)
WI Insurance Commissioner Resigns: New Commissioner Appointed (Mar)
WI Issues 2007 Workers’ Compensation Weekly Wage Table and Hospital Radiology Rates (Jun)
WI Issues Summer Bulletin (Sep)
WI Launches Farmers’ Health Insurance Cooperative (Jun)
WI Supreme Court Rules on Workers’ Status for Calculation of WC Premium (Jun)
WI Issues Information Security Incidents Requirements (Mar)
WV Authorizes Fingerprint Requirements for Insurance Producers (Sep)
WV Clarifies Penalties for Insurance Fraud (Sep)
WV Defines ‘Dependents’ in Public Employees Insurance Act (Sep)
WV Extends Dependent Coverage to Age 25 (Jun)
WV Mandates Kidney Disease Screening Benefit (Jun)
WV Removes Sunset Date for Mental Health Parity (Jun)
WV Requires Criminal Background Checks for Resident Producers (Sep)
WV Restricts Insurance Sales Practices for Armed Forces Members (Sep)
WV Revises Venue Law (Jun)
WV Updates List of Approved Nonadmitted Insurers (Dec)
WV Summarizes Enacted Laws for 2007 Session (Sep)
WY Clarifies Uses of Certificates of Insurance (Sep)
WY Requires Online Verification of Private Passenger Insurance (Sep)
Year of the Compliance Dragon (Mar)
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2007 Index to Advertisers
AAIS
(http://www.AAISonline.com)
(Mar, Jun, Sep, Dec)
Clear Market Practices
(http://www.clearreport.net)
First Consulting
(http://www.firstconsulting.com)
(Sep, Dec)
ISO
(http://www.iso.com)
(Sep, Dec)
LexisNexis
(http://www.lexisnexis.com/experts)
(Sep, Dec)
Oden
(http://www.oden-ins.com)
(Mar)
Westlaw
(http://www.westlaw.com)
(Jun, Sep, Dec)
Westmont
(http://westmontlaw.com)
Whitehill Technologies
(http://www.skywiresoftware.com)
WoltersKluwer
(http://www.insurance.cch.com/research/authenticweb)
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March 28, 2008

The Journal - Colodny Fass

Transcription

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