Westmont Wire
Excess Line Association of New York Bulletin No. 2018-20
The Excess Line Association of New York recently released Bulletin No. 2018-20 as a reminder that all excess line broker business entity licenses expire on October 31, 2018. Included within ...
South Carolina Passes Cybersecurity Bill
On May 3, 2018, South Carolina became the first state to enact a cybersecurity law derived from the National Association of Insurance Commissioners’ (“NAIC”) Data Security Model Law. Establishing an ...
William Penn Life Fined $6.3 Million due to Reinsurance Transaction Violations
The New York Department of Financial Services (“NYDFS”) assessed a $6.3 million fine on William Penn Life Insurance Co. (“William Penn Life”) for engaging in improper reinsurance transactions. The ...
South Dakota Uninsured and Underinsured Motorists Forms
In response to the decision of the South Dakota Supreme Court in Streff v. State Farm Mutual Auto Insurance Co., ISO has implemented revisions to certain of its forms regarding ...
New West Virginia Senate Bill exempts certain Commercial Lines from Rate Filing
On March 10, 2018, the Legislature of West Virginia passed Senate Bill 485 regarding rating requirements for commercial insurance lines. Taking effect on June 8, 2018, the Bill amends ...
South Dakota Bulletin Changes Treatment of Defense Within Limits Provisions
On March 29, 2018, the South Dakota Division of Insurance issued Bulletin 18-01 which implements a significant change to the Department’s treatment of Defense Within Limits provisions for professional liability ...
New Federal Tax Rates Requires California Insurers to Review their Rates
The California Department of Insurance has issued a notice reminding insurers to ensure that their rates are compliant with Proposition 103. Due to the new Federal Tax Schedule for ...
Independent Adjuster – Homestate Designation
A homestate is defined as the principal place of business or the residence of an individual. Since all states do not license Independent Adjusters, some Independent Adjusters will need to ...
Louisiana Bulletin 2018-04
On February 22, 2018, the Louisiana Department of Insurance issued Bulletin No. 2018-04 reminding all health insurers and health maintenance organizations to submit an updated report of their health insurance ...