Property & Casualty News

October 2018

Welcome to our latest newsletter!  As a thought leader in the Insurance Industry for over 49 years we are always excited to share the latest sampling of insurance compliance related bulletins, regulations and legislative activity. Please feel free to share this newsletter with others that may be interested. Contact Us with any questions on the items in this newsletter or with any other compliance related matter we can assist you with. Enjoy!

NOTICE to our readers regarding recent hurricanes: 

Hurricane Florence:  As we go to press, we expect that most everyone is up-to-date on events related to Hurricane Florence.  Please be aware that several insurance departments (NC, SC, VA, WI, WV) have published Executive Orders and special bulletins as well as ongoing amendments to these notices.  

Hurricane Michael:  FL and AL have published bulletins and orders concerning Hurricane Michael.

Please let us know if you need help accessing information for a particular state.


Virginia posted a website notice regarding adjusters in the state.  Virginia doesn't license company or independent adjusters.  Emergency adjuster licenses are not required to adjust claims on behalf of insurance carriers. Virginia only licenses public adjusters, and any properly licensed out-of-state public adjusters must apply for a Virginia non-resident license in order to adjust catastrophe claims.     Virginia State Corporation Commission Website Notice


Texas has updated its agent and adjuster licensing rules to be more consistent with best industry practices.     Texas Department of Insurance News Release 9/18/18

Virgin Islands issued a bulletin advising licensed agents, brokers, solicitors, adjusters and managing general agents of the passage of the Virgin Islands Producer and Adjuster Licensing Act. The Act governs the qualifications and procedures for licensing and implements new insurance licensing fees, effective 10/1/18.     Bulletin 2018-04

Wisconsin issued a press release about veterans being eligible for reimbursement of examination fees required to become licensed in certain types of insurance. Insurance exams eligible for the reimbursement program include life, accident and health, property, casualty, personal lines property and casualty, title, credit, and navigator. Veterans testing for life, accident and health, property, casualty, and personal lines property and casualty who previously held a license in those areas are also eligible for reimbursement.     Press Release 9/10/18


Colorado amended regulations relating to consumer protection for vehicle valuation and rental reimbursement. Revised sections clarify payment processes and due dates. Changes are effective November 1, 2018.     3 CCR 702 Reg. 5-2-15


Rhode Island issued a bulletin supplying credit for reinsurance forms that are designated for use in compliance with 230-RICR-20-45-3.     Bulletin 2018-10


South Carolina issued a bulletin that is the second in a series addressing the implementation of the newly enacted South Carolina Insurance Data Security Act. This bulletin addresses the process for reporting a cybersecurity event, as defined in the Act. The Act becomes effective on 1/1/19, and on that date, licensees subject to the Act must provide notice of a cybersecurity event to the South Carolina Department of Insurance.     Bulletin 2018-09


New Jersey terminated Executive Order No. 33 which was issued on 8/14/18, declaring a State of Emergency in several counties due to severe weather.     Executive Order 2018-37


Nevada amended its regulation requiring certain information be included in certain agreements for consultation or advice relating to insurance, effective August 30, 2018.     NAC 686A s 1 (LCB File No. R001-18); NAC 686A.320; NAC 686A.330; NAC 686A.340


Iowa issued a message in SERFF stating that the Insurance Division hired a P&C actuary who will begin reviewing P&C rate filings. The Division plans to retain the consultant actuary and decrease usage of the consultant actuary for less complex filings, as appropriate. The cost of such reviews is borne by the insurer. Insurers who do not accept these filing conditions may withdraw the filing from consideration.     SERFF state message dated 9/28/18


Missouri adopted regulations regarding breath alcohol ignition interlock device manufacturers. Provisions specify the type and amount of liability insurance manufacturers must carry, among other requirements. The rules are effective October 30, 2018.     7 CSR 60-2.040


New Mexico amended regulations regarding medical malpractice. Each person or entity, including an insurance company, which makes a payment under a policy of insurance, self-insurance, or otherwise, in settlement of, or in whole or partial satisfaction of a judgment in a malpractice action or claim, must file the report described in the regulation within thirty days after any initial or complete payment is made. NMAC


Louisiana issued a regulation regarding emergency assessment fees imposed on policyholders. The provisions set forth the 2019 calendar year rate, clarify calculation methods, and specify that payments are required in full rather than paid in payments.     2019 Emergency Assessment Rate


New Jersey issued a bulletin revising the fine structure for untimely submissions for 2019 aggregate financial calls. The due date of the acknowledgement form is revised and will now be required by March 1st.     Advisory Bulletin 62


Mississippi added a comment in SERFF General Instructions stating that the "Mississippi Homeowner Insurance Policyholder Bill of Rights" was amended on 8/17/18, to provide a corrected webpage address for the Mississippi Insurance Department (MID) in the Outline of Coverage and Comprehensive Policy Checklist. Insurers are requested to correct the MID’s webpage address in the insurer’s Outline of Coverage and Comprehensive Policy Checklist on or before 10/1/18. If the corrected webpage address is the only change made, the insurer will not need to resubmit the form to MID for approval before use.     MS SERFF Comment dated 8/22/18


Maryland revised regulations regarding surplus lines brokers' licensing. Qualification expiration and renewal are biennial. The term "license" was replaced with "certificate of registration", and "licensee" with "broker".     COMAR

Rhode Island issued a bulletin supplying Surplus Lines Broker forms that are designated for use in compliance with 230-RICR-20-50-1.     Bulletin 2018-9


Texas issued a bulletin regarding the 2018 title insurance data call.  Each title insurance company and title insurance agent engaged in the business of title insurance in Texas is required to submit business data to the Texas Department of Insurance annually. The Department uses this data to set title insurance premium rates. Data must be submitted via email on or before 10/31/18.     Bulletin B-0015-18


California issued an order that adjusts the Official Medical Fee Schedule. Changes are intended to conform to the Medicare payment systems. The changes are effective for services on or after October 1, 2018.     DWC Notice 2018-75

Massachusetts issued a bulletin advising workers' compensation carriers of the implementation of a test audit program to analyze reported statistical data. The program is scheduled to start January 2019. Carriers are required to designate a coordinator/contact person for program-related correspondence.     WCRIBMA Circular Letter No. 2337

New York has issued a bulletin concerning the New York Compensation Insurance Rating Board ("Rating Board") authorizing implementation of a new Indemnity Data Call to be reported directly to the Rating Board. Data related to indemnity claims will be evaluated and submitted on a quarterly basis, and submissions for each quarter will be due by the end of the following quarter. The first submission due date will be 9/30/2020.     NYCIRB Bulletin R.C. 2471

New York issued a bulletin extending provisions of the World Trade Center Registry legislation to 9/11/22. This extends the deadline period for filing the "Registration of Participation in World Trade Center Rescue, Recovery and/or Clean-up Operations" (Form WTC-12) to 9/11/22.  It also directs the Board to reconsider claims previously disallowed with dates of disablement between 9/11/15 and 9/11/17.     Bulletin 046-1099; SB 7797

Oregon has issued a bulletin revising Form 1502 which must be used to report claim status and activity to the Workers' Compensation Division. This bulletin replaces Bulletin 237, issued on 1/25/10. This revised form must be in exclusive use by 3/1/19.     Bulletin 237 (Revised)

Pennsylvania issued a circular regarding the new web-based application Unit Data Manager (UDM) for the entry, edit, submission, and management of unit statistical information, previously announced in Circular Nos. 1696 and 1707. UDM went live on 10/1/18. Online training sessions on various topics for those carrier users who are responsible for submitting electronic policy documents to the Pennsylvania Compensation Rating Bureau will be available on the website.     Bureau Circular No. 1710