Category: Insurance News

(New York, NY – Insurance News 360) – Governor Andrew M. Cuomo announced that credit reporting companies are now required to register with the Department of Financial Services to comply with the state’s cybersecurity regulations. To protect New York residents from data breaches at credit reporting agencies, a new regulation will require these agencies to…

(Trenton, NJ – Insurance News 360) – The Department of Banking and Insurance has released figures that show a drop of more than 10 percent in health insurance enrollment for the individual market in the first quarter of 2018.  Commissioner Marlene Caride connects the decline in enrollment in the state’s individual market to action in…

(Helena, MT – Insurance News 360) – State Auditor and Insurance Commissioner Matt Rosendale has proposed fines for Prime Therapeutics and two subsidiaries of Express Scripts, which are accused of operating without a license since 2017. The companies have not complied with requests from lawmakers for documentation, Rosendale said. “These companies need to understand that…

(Jackson, MS – Insurance News 360) – In early June, the Mississippi Insurnace Department Issued a Cease and Desist order to James Michael Brand, who is the owner/operator of Brand Insurance Services, LLC after the department received complaints from insurance holders. Those complaints allegedthat Brand did not send premiums to insurance companies and violated Mississippi…

(Saint Paul, MN – Insurance News 360) – Health insurance companies are proposing mostly decreased premium rates for 2019 in Minnesota’s individual health insurance market. The average proposed rates show decreases that range from 3-12 percent and higher. Health insurers submitted proposed rates for all 87 counties. Insurers submitted proposed 2019 rates to the Minnesota…

(Denver, CO – Insurance News 360) – On June 11, Colorado announced that the actions of the federal  government would not affect Colorado residents who have pre-existing health conditions.  “Guaranteed health insurance coverage for people with pre-existing conditions is enshrined in Colorado law,” said Interim Insurance Commissioner Michael Conway. “Regardless of how the Justice Department…

(Sacramento, CA – Insurance News 360) – Insurance Commissioner Dave Jones has served Accordia Life and Annuity Company and Athene Annuity and Life Company with an Order to Show Causation and Accusation after the companies failed to provide service  and benefits to more than 50,000 California consumers After more than 100 complaints from customers who…

(London, UK – Insurance News 360) – After extensive discussions with members of the Lloyd’s market, the Lloyd’s Market Association (LMA), the London & International Insurance Brokers’ Association (LIIBA) and the International Underwriting Association (IUA), Lloyd’s Corpoation will require syndicates to write at least 10 percent of risks electronically. By the fourth quarter, the requirement…

(Carson City, NV – Insurance News 360) – On July 1, 2018, a new law will go into effect that requires all consumers to purchase automotive insurance premiums that increase the minimum protection levels to $25,000 in bodily injury per person, $50,000 in bodily injury per accident, and $20,000 in property damage (“25/50/20”). “While this…

(Washington, DC – Insurance News 360) – In testimony before the U.S. House Ways and Means  Subcommittee on Tax Policy in March, a representative of the National Association of Realtors urged  that mortgage forgiveness tax relief should be made permanent. This is an exclusion for  forgiven home mortgage debt following a foreclosure, short sale or…