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Regulatory News

ALABAMA
The insurance department is considering a series of amendments to market conduct regulations, which, if adopted, will aid market analysis, institute confidentiality protections for company-specific data and reduce the focus on examinations as an information gathering function. www.aldoi.gov/currentnewsitem.aspx?ID=678  

ARIZONA
The insurance department has licensed the state’s 100th captive carrier. www.id.state.az.us/press/press07-06.pdf  

CALIFORNIA
Adam Cole named insurance department general counsel. Cole comes from the San Francisco law firm Heller Ehrman, where he directed litigation matters focused on insurance recoveries. Previously, Cole was with Covington & Burling in Washington, D.C., where he filed lawsuits against insurers. www.insurance.ca.gov/0400-news/0100-press-releases/0060-2007/  

COLORADO
Since May, the division of insurance says it has saved state residents about $78.2 million through its review of insurance rates and market conduct actions. www.dora.state.co.us/insurance/  

DELAWARE
Insurance Commissioner Matt Denn is ordering an average workers comp premium cut of 17.75% for employers in the “voluntary” workers comp market, which includes most businesses. He is ordering a 22% cut for businesses that purchase through the state’s assigned risk pool. With total workers comp premiums paid estimated at $103 million annually, the cuts likely mean a premium savings of about $18.2 million. http://delawareinsurance.gov/  

FLORIDA
Insurance Commissioner Kevin McCarty has promoted Audrey Brown to chief of staff. Brown had served as the deputy chief of staff since June. www.floir.com/PressReleases/ViewMediaRelease.asp?ID=2824  

IDAHO
Department of Insurance Director Bill Deal says overall workers comp rates will be reduced by an average of 3.7% in 2008. www.doi.idaho.gov/  

LOUISIANA
Commissioner Jim Donelon says six companies have applied for grant money under the Insure Louisiana Incentive Program. One sought an extension of the November 1 application deadline, and another did not qualify. The program is designed to attract more p-c insurers to Louisiana to increase the private market capacity by 15%. www.ldi.la.gov/public_affairs/most_recent_releases.htm  

MAINE
Acting Superintendent Eric Cioppa says the National Council on Compensation Insurance has filed a request to cut workers comp loss costs for policy year 2008 by an average of 2.2%. The filing is subject to the approval of the Bureau of Insurance. “This loss cost filing indicates the frequency of claims is decreasing faster than any increase in medical and indemnity costs for each claim,” says Cioppa. www.maine.gov/tools/whatsnew/index.php?topic=INS-PressReleases&id=44784&v=Default  

MISSISSIPPI
Republican Mike Chaney of Vicksburg defeated Democrat Gary Anderson to claim the insurance commissioner post held by Democrat George Dale for 32 years. www.doi.state.ms.us/  

MISSOURI
Missouri’s captive insurance program is now equipped to license captive insurers. The department has completed negotiations with actuarial firms to evaluate captive insurance applications. “Midwest businesses looking for flexible tools to address risk management issues and reduce administrative costs can look to Missouri’s captive insurance program for solutions,” says Director Doug Ommen. www.insurance.mo.gov  

NEBRASKA
Regulators have awarded the contract for insurance producer examination services to Prometric. www.doi.ne.gov/  

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