Property & Casualty News
May 2023
Welcome to our latest newsletter! As a thought leader in the Insurance Industry for over 50 years we are always excited to share the latest sampling of insurance compliance related bulletins, regulations, and legislative activity. Please feel free to share this newsletter with others that may be interested. Contact Us with any questions on the items in this newsletter or with any other compliance related matter we can assist you with. Enjoy!
AGENT / PRODUCER LICENSING AND APPOINTMENT
Alabama removed the requirement that insurance producers, independent adjusters, apprentice independent adjusters, and title insurance agents complete a prelicensing course prior to earning a license. HB 60
Washington eliminated the requirement that a person applying for a producer license complete a prelicensing course of study for the lines of authority for which the person has applied. HB 1061
ARBITRATION
Tennessee made numerous changes in the Uniform Arbitration Act including definitions, awards, and enforceability. HB 1162
CANCELLATION / NON-RENEWAL / PREMIUM OR COVERAGE
Idaho adopted a rule clarifying the requirements for cancellation and non-renewal of underinsured and uninsured motorist coverage. IDAPA 18.02.02
CAPTIVES
Arizona amended its statute on captive insurers to revise the terms relating to foreign captive insurers. HB 2005
CLAIMS / CLAIMS ISSUES
Wyoming's Insurance Department issued a bulletin providing guidance regarding adjustment claims involving damage to property other than claims under a motor vehicle policy. Insurers selling either ACV or replacement cost policies should be prepared to identify the policy language upon which they rely if they intend to pay an amount less than the actual cost of the repair, including the basis for the amount of depreciation. Bulletin dated April 19, 2023
CONFIDENTIALITY / PRIVACY
Iowa enacted legislation creating new protections on consumer data privacy, including duties to protect privacy, exemptions for certain data, and affording the attorney general with enforcement authority. SF 262
CYBERSECURITY
Arkansas enacted legislation concerning cybersecurity insurance and establishing the Arkansas Self-Funded Cyber Response Program. HB 1780
Louisiana reissued and revised a bulletin regarding the Insurance Data Security Law (IDSL). The bulletin serves as a reminder of the duties imposed by the IDSL, including the duty to maintain a written information security program (ISP). The bulletin includes an updated list of jurisdictions who have adopted ISP requirements that are the same or substantially similar to Louisiana. Bulletin 2021-04 (Revised and Reissued)
ELECTRONIC TRANSACTIONS
Arkansas' Insurance Department issued a bulletin to all Property and Casualty insurers outlining what is permissible when electronically delivering policies and claim payments to insureds. It also addresses what documents must still be delivered physically, including claim denials, notices of nonrenewal, and notice of cancellation. Bulletin 9-2023
FILINGS: PROPERTY / CASUALTY
Georgia amended its rate and form filing rule for private passenger auto insurance to allow for an automatic effective date of 60 days following filing, with certain exceptions. HB 221
GUARANTY ASSOCIATION
Florida's Office of Insurance Regulation issued an order approving an emergency assessment for members of the Florida Insurance Guaranty Association. FIGA 2023A Assessment Order
INDUCEMENTS
Arkansas amended its definition of rebates to modify the minimum value of token gifts to be $100 or less in wholesale value. HB1525
MISCELLANEOUS
California released a notice to all insurers notifying them of changes to the department's electronic funds transfer bank account and routing numbers. Notice dated 5-3-2023
Nebraska adopted the Pet Insurance Act effective January 1, 2024. LB 296
Oregon updated its definition of domestic partnership under the Oregon Family Fairness Act to include partners of any sex. The definition of domestic partnership was changed to reflect a civil contract entered into between two individuals who are at least 18 years of age, are otherwise capable, and at least one of whom is a resident of Oregon. HB 2032
Washington amended its telephone solicitation law to address robocalling and telephone scams and to prohibit abusive telephone communications that mislead or harm residents. HB 1051
PERSONAL LINES INSURANCE
Maryland amended its law regarding mandatory coverage for condominiums to require that owners of detached units must maintain coverage on the entirety of the unit against common elements. HB 98
Wyoming amended its Privacy of Consumer Financial and Health Information regulation pertaining to products and services primarily for personal, family, or household purposes. It does not apply to products or services for business, commercial, or agricultural purposes. This regulation deals with the protection of non-public personal information. Chapter 54, Section 1
POLICY LANGUAGE
Colorado amended laws addressing translations of English language policies and the requirements to certify the accuracy of the translation. HB 1004
PREMIUM TAX
Kentucky released a bulletin concerning 2023-2024 Local Government Premium Taxes, including updated forms and link to the Local Government Premium Tax Risk Location chart. Bulletin 2023-002
PROFESSIONAL LIABILITY INSURANCE
Vermont eliminated the requirement that a patient who is terminally ill must be a Vermont resident in order to be prescribed medication in accordance with the Patient's Choice at End of Life Laws. HB 190
Washington enacted legislation relating to licensure of music therapists to provide clinical and evidence based music interventions. HB 1247
REPORTS - DATA CALLS & OTHER REPORTS
Arkansas is asking all property and casualty insurers to respond to a data call regarding tornado claims as a result of storms on March 31, 2023. Reports are to be made monthly through November 15, 2023. Bulletin 8-2023
Florida amended its rule requiring reporting on commercial and residential property policies to incorporate a new quarterly reporting form. FAC 690-137.009
Rhode Island's Superintendent of Insurance issued a list of carriers that must participate in the 2023 Auto Body Labor Rate Survey. The information is due no later than September 1, 2023. Bulletin 2023-4
The Texas Insurance Commissioner issued a data call to insurers writing personal automobile and residential property insurance policies in Texas via the HelpInsure.com website. Bulletin B-0003-23
TRADE PRACTICES
Iowa adopted amendments to its unfair or deceptive acts definition. HF 316
Maryland adopted revisions to its law excluding certain practices from the definition of rebating. As defined in the revised law, an insurer may offer certain products or services that educate, assess, monitor, control, or prevent risk of loss. SB725
WORKERS' COMPENSATION
Connecticut's Workers Compensation Commission released the 2023 fee schedule for hospital and ambulatory surgery centers. Memo 2023-01
Tennessee amended its workers' compensation law and made various changes. One change is that the court may require the employer or carrier to pay an additional sum of up to 25% of medical expenses if, following notice, they fail to provide reasonable and necessary medical expenses and treatment. SB 263
Tennessee created the Garrison-Jordan Survivor Benefit Act. It increases the death benefit available if a deceased employee leaves dependents. Other changes relating to surviving spouse and children were made. SB 97
Virginia's Bureau of Insurance issued an administrative order concerning the National Council on Compensation Insurance’s Experience Rating Plan Manual and Statistical Plan Manual. Administrative Order 12170
Washington enacted legislation defining an attending provider for workers' compensation claims to also include licensed psychologists for claims that are solely for mental health conditions. HB 1197
Washington enacted legislation that gives an injured worker rights under a "compelled examination." Rights include the ability to take audio and video, have one person present to observe the examination, and other rights. HB 1068