Westmont Wire
DELAWARE INSURANCE DEPARTMENT: FORM FILING FEE CAP LEGISLATION INTRODUCED
At the request of industry representatives and with feedback provided by the staff at Westmont Associates, the Delaware Department of Insurance had House Bill 242 introduced in the General Assembly ...
Wyoming Insurance Department: New Business Entity License Requirements
Wyoming Insurance Department recently changed their requirements for business entity producer licenses. The licenses used to be perpetual, but now expiration dates will be applied and renewals will be required. ...
Vermont Enacts an Innovation Sandbox Bill
On June 10, 2019, Vermont Governor Phil Scott signed into law Senate Bill 131, creating an insurance regulatory sandbox that gives the Department of Financial Regulation the authority to grant ...
ELANY Issues Bulletin Warning Against Impermissible Groups
On June 17, 2019, ELANY issued Bulletin No. 2019-19 regarding Impermissible Group Coverage. The bulletin warns that the New York Department of Financial Services (DFS) has begun to issue fines ...
Kentucky Bill Creates Regulatory Sandbox with the Goal of Encouraging Innovation
On March 26, 2019, Kentucky Governor Matt Bevin signed House Bill 386 into law, creating a regulatory sandbox with the goal of encouraging innovation within the Kentucky insurance industry. The ...
Arizona Raises Minimum Coverage Levels for Liability and Property Auto Insurance
On June 10, 2019, Arizona Governor Doug Ducey signed Senate Bill 1087, raising the minimum level of automobile insurance Arizona motorists will need to carry. The new law is set ...
Illinois Issues Bulletin Reminding Insurers of Workers Compensation Obligations
On May 20, 2019, the Illinois Department of Insurance issued Bulletin #2019-05 regarding all insurers approved to write workers’ compensation insurance. The Bulletin reminds insurers of their obligation to comply ...
California Court Upholds $27.5 Million Penalty Against Mercury Insurance
On May 8, the California Court of Appeals upheld a $27.5 million fine against Mercury Insurance, the largest penalty ever assessed by the California Department of Insurance. Mercury Insurance received ...
Florida Senate Approves Major Surplus Lines Modernization Bill
On May 6, 2019, the Florida Senate passed House Bill 301 in an effort to modernize Florida’s surplus lines requirements. Awaiting final approval by the Governor, the bill removes the ...