Category: Insurance Regulatory News

Washington Insurance Commissioner Mike Kreidler issued fines in February totaling $49,200 against insurance companies, agents and brokers who violated state insurance regulations, Insurance Journal reports. Alaska Law on Credit-Based Scoring Backed by Insurers Group https://www.insurancejournal.com/news/west/2018/04/04/485395.htm  

California Insurance Commissioner Dave Jones announced today that California’s annual insurance premium volume has increased to $332 billion. California is now the third largest insurance market in the world and remains the largest insurance market in the United States. http://www.insurance.ca.gov/0400-news/0100-press-releases/2018/release034-18.cfm

Oklahoma Insurance Commissioner John D. Doak has been named to the Coalition Against Insurance Fraud‘s executive committee. He was elected unanimously by the Coalition’s executive committee. https://www.insurancejournal.com/news/southcentral/2018/04/05/485474.htm

As discussed during the NAIC’s Property and Casualty Insurance Committee’s March 26 meeting in Milwaukee, the Committee is forming a drafting group to develop a white paper to fulfill its charge to:  “Consider the development of a white paper reviewing …

Demotech will not downgrade any of the 16 Florida insurers that it said earlier this year could face financial stability ratings adjustments because of hurricane losses and assignment of benefits litigation during 2017.  Insurance Journal’s Amy O’Connor reports.   https://www.insurancejournal.com/news/southeast/2018/04/04/485234.htm

The 2018 Florida Hurricane Catastrophe Fund Proposed Ratemaking Formula Report and the 2018 Proposed Rates and 2018 Proposed Rating Regions in Excel format have been posted. https://www.sbafla.com/fhcf/Home/Announcements/2018ProposedRates.aspx

A state mandate to prohibit advance payments from the Federal Emergency Management Agency has left dozens of cities, counties and school districts waiting months to receive nearly $4 billion in federal funds to pay recovery costs from last fall’s Hurricane …

Florida officials said about 3 million of those who left were not in evacuation zones, The Palm Beach Post’s Kimberly Miller reports. https://www.mypalmbeachpost.com/weather/hurricanes/irma-forced-mass-evacuations-officials-urge-staying-home-next-time/KippDb0Dnw3reWRT0oH3rM/

Topics include but are not limited to Board Committee Reports. https://www.citizensfla.com/-/20180411-bog   Materials from this month’s Citizens’ committees Consumer Services Committee Audit Committee Finance and Investment Committee Market Accountability Advisory Committee

Businesses that plan ahead of time are more likely to survive a major disaster, 850 Magazine’s Erin Hoover writes. http://www.850businessmagazine.com/Spring-2018/What-Hurricanes-Irma-and-Harvey-Taught-Us-About-the-Business-Impacts-of-Disaster/