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Westmont Wire

NAIC Request for Information

By on October 2, 2020   /   Westmont Wire  
On September 28th, 2020, the NAIC Innovation and Technology task force sent out a request for information pertaining to regulatory relief related to innovation and technology in response to COVID-19. The NAIC is seeking to both extend existing regulatory relief, and provide new regulatory relief, that promotes the use of new technology, procedures, and data in maintaining the everyday operations of insurers. A list of offered regulatory relief can be found HERE.
The NAIC requests that insurers identify technology related laws, regulations, or practices that continue to act as a challenge to insurers as a result of COVID-19. Please submit your suggestions via e-mail to Denise Matthews at (dmatthews@naic.org) by November 4th, 2020.
For more information on this Request, or any other regulatory compliance matter, please contact Westmont Associates, Inc
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New York State Amended Producer Licensing Certification Process

By on September 3, 2020   /   Westmont Wire  

The New York Department of Financial Services (DFS) and the New York State of Health (NYSOH) has announced that, effective August 31st, 2020, producers seeking certification must now visit the NYSOH website to register a new account in order to access NYSOH approved producer certification courses. This does not affect producers who are already certified through the NYSOH.

The certification courses will be administered online by the NYSOH and will no longer be offered by the DFS approved education providers. As a result, the registration process on the DFS licensee self-service portal will no longer be available beginning August 28th, 2020 and will instead be moved to the NYSOH website beginning Monday August 31st, 2020.

The NYSOH link to create an account is provided HERE.

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

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Delaware Requests Completion of Storm Isaias Claims Report Form

By on August 13, 2020   /   Westmont Wire  
On August 10th, 2020, the Delaware Department of Insurance issued Bulletin No. 122 requesting that all domestic and foreign licensed Property and Casualty insurers, and Surplus Lines insurers, complete a claim reporting form detailing all claims arising out of damage caused by Storm Isaias within the state of Delaware.
The Delaware Department of Insurance requests the receipt of two separate reports by August 17th, 2020 and by September 17th, 2020. These reports should be submitted via e-mail to HurricaneIsaiasDE@delaware.gov.
For more information on this Bulletin, or any other regulatory compliance matter, please contact Westmont Associates, Inc.
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