Westmont Wire
Washington Adopted a Rule Requiring Insurers to Inform Policyholder Regarding Premium Increases
On June 22, 2023, Washington Insurance Commissioner Mike Kreidler adopted a rule requiring insurers to explain premium increases to their policyholders, using basic language that a policyholder can understand. The ...
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, ...
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 ...
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 ...
New Vermont TPA regulations going into effect on July 1, 2022
Vermont has released information on new TPA regulations signaling new licensing requirements for TPAs operating in the state. The rule will become effective July 1, 2022. Although the Rule does ...
Pennsylvania Introduces Program to Encourage Insurance Innovation
The Pennsylvania Insurance Department (PID) announced the implementation of a new program designed to encourage innovation in the insurance industry by removing barriers and speeding up the regulatory process for ...
States Continue to Roll Out Data Security Initiatives
Two additional states recently adopted versions of the NAIC Data Security Model Law. On April 30, 2021, Iowa governor Kim Reynolds signed HF 719, and on May 6, 2021, Tennessee ...
Kansas Producer Licensing Reform
On May 25, 2021, the Kansas Insurance Department notified licensees of Senate Bill 37, which impacts producer licensing, appointments, affiliations, and resident licensee requirements. The bill has many different impacts, ...
NJ Insurers Required to Clarify Commercial BI Coverage
On May 12, 2021, New Jersey Governor Phil Murphy signed Assembly Bill 4805, requiring insurance companies to provide clear and explicit explanations of when business interruption coverage applies and under ...