Category: National Insurance Regulation News and Updates
Mar 4, 2013
In Bulletin 2013-13 issued today, March 4, 2013, the Excess Lines Association of New York (“ELANY”) advised that the New York Department of Financial Services (“DFS”) moratorium on cancellations and nonrenewals for ZIP codes in certain designated counties affected …
Feb 28, 2013
In a letter to Federal Housing Finance Agency Director Edward DeMarco yesterday, February 27, 2013, U.S. Representative Maxine Waters, Ranking Member of the House Financial Services Committee (“Committee”), requested the agency’s explanation of why it halted a Fannie Mae …
Jan 9, 2013
The following article was published in Insurance Networking News on January 8, 2013 and updated today, January 9, 2013 to reflect that AIG has refused to join litigation against the federal government: AIG Refuses to Join Lawsuit Against Federal …
Jan 4, 2013
In a report issued today, January 4, 2013, the U.S. Government Accountability Office (“GAO”) has recommended that the Federal Emergency Management Agency (“FEMA”) Administrator examine ways to make mapping of Indian tribal lands in flood-prone areas a higher priority. …
Nov 15, 2012
Already strapped with a $17 billion debt, the National Flood Insurance Program (“NFIP”) faces looming new flood-related claims from “Superstorm” Sandy, the cost of damage from which early projections already place in the $6-12 billion dollar range, according to Ed …
Oct 19, 2012
Above: Mike Culbertson, President, The Seibels Bruce Group The Seibels Bruce Group (“Seibels”) issued a news release today, October 22, 2012, announcing the upcoming retirement of its President, Mike Culbertson. Mr. Culbertson will remain as President until his …
Sep 19, 2012
The following article was published in the Louisiana Times-Picayune on September 19, 0212: Above: Louisiana Insurance Commissioner Jim Donelon By Ed Anderson, The Times-Picayune Published in the New Orleans Times-Picayune on September 19, 2012 www.NOLA.com BATON ROUGE …
Aug 23, 2012
The California State Legislature has passed reinsurance collateral legislation (SB 1216) that will now go to Governor Jerry Brown for action. Should it become law, the bill would grant the California Insurance Commissioner more authority over the State’s reinsurance …
Aug 9, 2012
On August 9, 2012 the Excess Line Association of New York issued Bulletin 2012-21 reminding Excess Line Brokers of upcoming license renewal requirements. The Bulletin outlines pertinent information for both business entities and individual Excess Line licensees: The Bulletin …
Aug 6, 2012
Public comments on a working draft of the Common Framework for the Supervision of Internationally Active Insurance Groups (“ComFrame”) are due to the International Association of Insurance Supervisors (“IAIS”) by August 31, 2012. To access the draft, a list …