1-year Moratorium on Residential Property Insurance affected by California Wildfires

By on November 9, 2020   /   Westmont Wire  
On November 5, 2020, the California Insurance Commissioner declared a 1-year moratorium on the cancellation or non-renewal of residential property insurance policies for properties located in any California ZIP code affected by the California wildfires.
The Bulletin and list of affected Zip-codes can be found HERE.
For more information on this Bulletin, or any other regulatory compliance matter, please contact Westmont Associates, Inc.
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Louisiana Department of Insurance is changing title agency eligibility.

By on October 23, 2020   /   Westmont Wire  

Per Advisory Letter 2020-04 dated October 22, 2020 the Louisiana Department of Insurance is changing title agency eligibility.

Effective January 1st, 2021 Louisiana will no longer allow non-resident licensees to obtain or maintain the Louisiana non-resident title license unless they meet the following criteria:

  • Business Entities: Must have (1) a principal place of business in Louisiana suitable for conducting the business of title insurance and real estate closings, and (2) have a DRLP who is a resident of Louisiana and holds the title license in Louisiana
  • Individuals: Must be a full time employee of a licensed agency whose principal place of business is in Louisiana.

For any questions Advisory Letter 2020-04, or any other title agency licensing needs, please contact Westmont Associates.

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Delaware Department of Insurance Issues Updated Bulletin No. 5

By on October 9, 2020   /   Westmont Wire  

On October 8th, 2020, the Delaware Department of Insurance released an updated Bulletin No. 5, which requests the submission of an annual certification of compliance with the Delaware Insurance Data Security Act.

An annual certification must be submitted by Insures who are domiciled in the State of Delaware, and who are licensed under the insurance laws of Delaware, no later that February 15th of each year. Both a written certification of compliance with the Delaware Insurance Data Security Act as well as an affidavit must be attached to the updated bulletin (found HERE) and submitted to the Commissioner at doidatasecurity@delaware.gov.

Additionally, the updated e-mail address to which further notices of a data breach should be sent is also doidatasecurity@delaware.gov.

For more information on this Bulletin, or any other regulatory compliance matter, please contact Westmont Associates, Inc.

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