NAIC Organizes Countrywide Property/Casualty Data Call

By on May 6, 2020   /   Westmont Wire Category   /   Leave a comment
The National Association of Insurance Commissioners (“NAIC”) has organized a data call regarding business interruption coverage as it relates to the COVID-19 pandemic. Regulators in all 50 states, the District of Columbia, and the U.S. territories have agreed to participate. The data call will be in two parts; the first part relating to business interruption premium exposure due on May 22, 2020, and the second part relating to business interruption claims and losses due on June 8, 2020. A formal letter detailing the data call is expected to be released on May 8, 2020.
For assistance in completing this data call, or any other compliance needs, please contact Westmont Associates, Inc.

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NC DOI Issues Filing Guidance Regarding Reauthorization of TRIA

By on April 29, 2020   /   Westmont Wire Category   /   Leave a comment
On April 28, 2020, the North Carolina Department of Insurance issued Bulletin 20-B-08, discussing certain provisions of the Terrorism Risk Insurance Program Reauthorization Act of 2019, which amends and extends the Terrorism Risk Insurance Act of 2002 (the Act) by reauthorization. Please review this bulletin carefully as submissions of rates, revised forms, and disclosure notices may need to be made. Further, please note that the reauthorized Act extends the Terrorism Risk Insurance Program through December 31, 2027.
For questions regarding filings in response to the reauthorized Act, or any assistance with your filing needs, please contact Westmont Associates, Inc.
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We Are Working Together

By on April 17, 2020   /   Westmont Wire Category   /   Leave a comment
While insurance is on our minds, you are in our hearts.  We salute the many insurance related companies and individuals providing charitable support in so many meaningful ways.
We are working together by providing meals locally to our healthcare heroes while also supporting the small business restaurants preparing the meals.  Meals have been provided or are in the process of being provided to our family and friends serving as health care workers on the front line at the following locations:
Kennedy Hospital, South Jersey
Lady of the Lourdes Hospital,  Camden, New Jersey
Southern Ocean Medical Center, Manahawkin, New Jersey
Thomas Jefferson Hospital, Philadelphia
Jefferson Methodist Hospital, Philadelphia
JFK Medical Center EMS, New Jersey
Towers Health Urgent Care, Levittown, Pennsylvania
In addition, Westmont continues our support of The Food Bank of South Jersey.  We are so very proud to be working together with so many others in our industry.  Our hope is that you and your families remain healthy and strong.
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