Westmont Wire
Adoption of Global Insurance Capital Standard
Although the NAIC has issued a report praising the adoption of changes which are meant to protect U.S. interests in the negotiation of global insurance capital standards with the International ...
Puerto Rico Office of the Commissioner of Insurance Partially Closed for Office Move
The Puerto Rico Office of the Commissioner of Insurance issued CIRCULAR LETTER NO.: CC-2019-1956 -D on November 12, 2019. This notice advised that the Office of the Commissioner of Insurance ...
California Extends Notice of Nonrenewal Requirements on Certain Lines of Insurance
On October 12, 2019, California Governor Gavin Newsom signed Assembly Bill 1816 into law. Among other changes to the Code, AB 1816 amends Cal. Ins. Code § 678 to require ...
California Opens an Investigation into Legality of Affinity Group Discounts
The California Department of Insurance is investigating the legality of discounts offered affinity groups which they claim cause disparities in auto insurance rates that lead to higher rates for lower-income ...
Maryland’s Data Breach Reporting Law is Effective October 1
Maryland’s data breach reporting law becomes effective on October 1. Recently signed into law by Governor Larry Hogan, the new law adds insurers, nonprofit health service plans, health maintenance organizations, ...
South Carolina Issues Hurricane Assistance Bulletin
In the aftermath of Hurricane Dorian, the South Carolina Department of Insurance issued Bulletin 2019-08 on September 6, 2019, requiring additional assistance from all licensed entities or individuals. The Bulletin ...
Florida Grants Insurers the Right to Contribution for Defense Costs
In addition to its previously reported surplus lines updates, Florida’s House Bill 301 added a new statute to the Florida Code, Fla. Stat. § 624.1055, which requires any court ...
Insurance Data Security Legislation Continues to Roll Out
On August 2, 2019, New Hampshire passed Senate Bill 194 implementing insurance data security requirements by adding RSA 420-P:1 et seq. to the New Hampshire Code. The bill requires licensees to implement ...
Texas Doubles Auto Insurance Assessment Fees
In an effort to boost funding for trauma care centers throughout the state, the Texas Legislature passed House Bill 2048, doubling its motor vehicle assessment fee. The new ...