Insurance Compliance Consulting Firm

Westmont Wire

Connecticut DOI further extends effective date of Data Security Act

By on February 12, 2021   /   Westmont Wire  
On February 10th, 2021 the Connecticut Department of Insurance issued Bulletin IC-43 replacing previously issued Bulletin IC-42 regarding data security.
Bulletin IC-43 further delays the effective date of the Conn. Gen. Stat. § 38a-38, the Insurance Data Security Law (“Act”) in accordance with ongoing effects of the pandemic. Because of the Emergency Order issued by the governor on February 8th, 2021 the Act will now have an extended effective date of April 19, 2021.
Please find additional details about this extension and the Act within the Bulletin linked HERE.
For more information on this Bulletin, or any other regulatory compliance matter, please contact Westmont Associates, Inc.
Click Here to receive Westmont Wires directly to your inbox.
Back to Top

Texas Proposed Bill requiring Business Interruption Insurance

By on February 11, 2021   /   Westmont Wire  
SB 249 is a Texas Bill recently proposed by Sen. Charles Schwertner, which would require business interruption insurance to “cover loss caused by a pandemic, including loss caused by the order of a civil authority made to prevent the spread of a pandemic.” This would apply irrespective of whether the pandemic caused a direct physical loss to the policyholder’s property.
This requirement would apply to all insurers providing business interruption insurance in Texas, “including a county mutual insurance company, farm mutual insurance company, Lloyd’s plan, and reciprocal or interinsurance exchange.” If passed and signed by the governor, the legislation would apply to policies written or renewed with an effective date on or after Jan. 1, 2022.
For more information on this Bulletin, or any other regulatory compliance matter, please contact Westmont Associates, Inc.
Click Here to receive Westmont Wires directly to your inbox.
Back to Top

California DOI issues notice on Proposition 22 Insurance provisions

By on February 11, 2021   /   Westmont Wire  
On February 3rd, 2021 the California Department of Insurance issued a notice regarding the newly enacted Proposition 22 and related insurance coverage for app-based transportation occupations.
Proposition 22 requires the expansion of certain types of insurance coverage for app-based transportation occupations within the state of California. The types of expanded coverage include accidental medical expense coverage, disability/income loss coverage, and accidental death coverage, etc. Transportation Network Companies (“TNC”) and Delivery Network Companies (“DNC”) are required to carry, provide, or otherwise make available to their app-based drivers no later than March 16, 2021
Please find additional details contained within the Notice linked  HERE.
For more information on this Notice, or any other regulatory compliance matter, please contact Westmont Associates, Inc.
Click Here to receive Westmont Wires directly to your inbox.
Back to Top

CONTACT

1763 Marlton Pike East, #200
Cherry Hill, NJ 08003
Phone: 856-216-0220
Email: nancy@westmontlaw.com