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Regulatory News

CALIFORNIA
Department of Insurance reducing licensing fees 6% on July 1. Same reduction was made last year, as well. >> The 4th District Court of Appeal agrees with a lower court, ruling that only a named insured, not an additional insured, can satisfy a self-insured retention requirement and trigger coverage on a general liability policy. Forecast Homes had sued Steadfast Insurance arguing that the subs’ payment of defense costs should satisfy the retention requirements for the additional insured in a construction defect claim case.
www.insurance.ca.gov

COLORADO
State House committee moves bill forward that restricts video surveillance of workers comp claimants by insurers and self-insured employers unless they have a reasonable suspicion of fraud. The bill would also impose a $1,000-a-day fine on violators. A similar bill is in the senate. >> State-sponsored workers comp insurer Pinnacol Assurance says it is prepared to give the state $200 million to remove it from state control so it can become a policyholder-owned company.
www.dora.state.co.us/insurance

FLORIDA
Attracts first foreign reinsurer under new collateral requirements, which were reduced in 2008. Hannover Re already reinsures Florida property insurance and other lines but now will receive a reduction in its capital terms.
www.floir.com

ILLINOIS
State Supreme Court strikes down law capping jury awards for medical malpractice. Claim severity in the state is among the highest in the U.S. The court’s decision also guts the portion of the law that gave the Department of Insurance stronger oversight, as well as requirements that insurers provide substantial details about how they set rates. >> Workers Compensation Commissioner Paul Rink has retired. No word on his replacement yet.
www.insurance.illinois.gov

KANSAS
American Medical Association gives Commissioner Sandy Praeger its top government-service award for an elected statewide official, the Dr. Nathan Davis Award for Outstanding Government Service.
www.ksinsurance.org

KENTUCKY
Gov. Steve Beshear asks the state’s largest workers comp insurer, Kentucky Employers’ Mutual Insurance, to return some of its $147 million surplus as a premium reduction or dividend to the small businesses it insures. It has reduced its rates for the past four years, last year dropping them an average of 6%. It provides coverage for 20,000 policyholders in the state.
www.doi.state.ky.us/kentucky

LOUISIANA
Insurance Department OKs 5.3% average cut in commercial p-c liability rates. Retailers should see about a 10.6% decrease, service industry rates are expected to drop 8.8%, and industrial and processing businesses ought to get a 7.3% savings, according to ISO filing.
www.ldi.state.la.us

MASSACHUSETTS
Joseph Murphy promoted to insurance commissioner. He had been acting commissioner since September 2009. >> AG Martha Coakley opposes industry request to raise workers comp premiums about 4%. She intends to intervene in the insurance commissioner’s approval process to get the request denied.
http://www.mass.gov

MONTANA
New federal flood map nearly doubles acreage of Miles City’s 100-year flood plain. About 3,200 residential and commercial properties could have their insurance affected.
http://sao.mt.gov

NEVADA
Legislators reject governor’s plan to nab uninsured and unregistered motorists via highway cameras.
www.doi.nv.gov

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