Westmont News

In recognition of their service and experience, Westmont is proud to announce the following recent staff promotions. Please join us in congratulating our team members.

Logan Marro, Senior Vice President, Non-risk bearing, regulated entities

Wes Pohler, Senior Vice President, State Filings

Liane Bircher, Senior Vice President, Insurer Licensing

Wendy Farley, Vice President, Actuarial Services

Joe Keller, Assistant Vice President, Legal

Katherine Lenguadoro, Assistant Vice President, Non-risk bearing, regulated entities

Bethany Hill, Senior Analyst

Josh Owen, Senior Analyst

New Mexico Superintendent of Insurance Bulletin 2023-014

The New Mexico Superintendent of Insurance recently released Bulletin 2023-014, requiring insurance companies to report claims data related to natural disaster events. The key highlights are as follows:

  • Claims data must be reported in excel format and sent to Anna.Krylova@osi.nm.gov within 7 days of the date of issuance of this Bulletin (June 8th deadline)
  • The data should include the number of claims and incurred loss estimate, by county, for the claims related to the natural disaster events occurring in New Mexico during the 7-day period of 5/24/2023 through 5/30/2023, as well as the company’s NAIC Company Code.
  • Full text of bulletin can be found here.

If a company does not have any applicable claims to report, no data submission is required.

For any questions related to the above referenced bulletin in New Mexico, please contact Westmont Associates!

North Carolina Issues Memorandum on Enforcement of Surplus Lines Licensing Laws

The North Carolina Surplus Lines Association (“NCSLA”) announced (https://www.ncsla.com/announcements/ncdoi-audit-memorandum) that it has been notified by the North Carolina Department of Insurance (the “Department”) that the Department has begun performing agency reviews of resident and non-resident North Carolina Surplus lines licensees’ files.  This announcement links to a Memorandum (https://www.ncsla.com/resources/surplus-lines-licensing) from the NCSLA and the Department to all licensees which includes pertinent questions and answers.  One of the main focuses of the agency reviews is to ensure the proper licensing of all individuals who are involved in the “procurement” of a non-admitted policy on a North Carolina risk.  This is a core concept of surplus lines (and producer) licensing. All individuals who “procure” insurance need to have their own individual license in addition to the business entity license.

Please contact Westmont Associates with any questions or if you would like support in reviewing your program for compliance in accordance with the North Carolina Surplus Lines licensing laws.

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