Westmont Wire

Washington Directs Completion of Fire Alarm Discount Survey

By westadm on August 12, 2020 / Westmont Wire

On August 10th, 2020, the Washington Office of the Insurance Commissioner issued a Letter requiring all Property and Casualty insurers to complete a mandatory fire alarm rate discount survey by September 2nd, 2020. Every insurer that covers residential dwellings of any type must fully complete the survey.

The fire alarm discount survey, and all individual survey questions, can be found on the Washington Office of the Insurance Commissioner website.

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

856-216-0220

info@westmontlaw.com

https://westmontlaw.com/

AICP Webinar: COVID-19 Impact on Insurance Regulation

By westadm on June 25, 2020 / Westmont Wire

The AICP will be presenting a webinar focused on the impact of COVID-19 on insurance regulation. The webinar will be hosted by Mid-Atlantic Chapter of the Association of Insurance Compliance Professionals (AICP). Joseph Keller and Wesley Pohler of Westmont Associates, Inc. will be the presenters for the webinar.

The Westmont team has tracked all COVID-19 actions by states since the on-set of the virus in the United States. Please visit our website for a comprehensive listing at westmontlaw.com.

If you have been flooded with DOI communications, bulletins and emergency actions regarding COVID 19 and need help sorting it all out, we are here to help. This webinar will review COVID 19 regulatory actions for all lines of business (P&C and L&H) such as:

Current Department treatment of communicable disease exclusions;
Telehealth visits: The new normal
Mandated rate reductions for certain lines of business by state;
Freezes on rate increases for certain lines of business by state;
Impact on DOI’s ability and timing of review of carrier filings;
Discussion of possible federal backstop for Business Interruption losses; and
Discussion of federal litigation related to Business Interruption losses.

This webinar will take place July 9, 2020 from 1:00 pm – 2:00 pm EDT. For AICP members this webinar is free; the fee for non-members is $45.

Click here to reserve your spot

Illinois Issues Bulletin Regarding Vandalism/Looting

By westadm on June 12, 2020 / Westmont Wire

On June 8, 2020, the Illinois Department of Insurance issued Company Bulletin 2020-15 addressing coverage for property damage resulting from vandalism and looting. This Bulletin requests that all insurers take multiple actions in providing flexibility to impacted policyholders. Such actions include, but are not limited to, implementing a moratorium on cancellation or non-renewal for 60 days, providing premium payment relief, and affording favorable evaluations of business interruption insurance payouts and exclusions.

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