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Regulatory News

CONNECTICUT
Insurance Commissioner Thomas Sullivan fined the subsidiaries of White Mountain Group $362,000 for violations primarily related to licensing and appointments of agents. Violations and fines varied by company, which included: Atlantic Specialty Insurance, Employers Fire Insurance and Pennsylvania General Insurance. www.ct.gov/cid/lib/cid/WhiteMountainGroup.pdf

FLORIDA
an Insurance Commissioner Kevin McCarty ordered six workers comp insurers to return $4.2 million in excessive profits to policyholders. Workers comp carriers are required to return profits in excess of 5%. “This is further evidence that the workers compensation insurance reforms implemented by the Florida Legislature in 2003 are working,” says McCarty. “These policyholders are businesses that will get back some of the premium they’ve been paying for the past three years.” The six companies ordered to return premiums are: Alaska National Insurance, American Interstate Insurance, Church Mutual Insurance, Harco National Insurance, Midwest Employers Casualty Co. and Petroleum Casualty. www.floir.com/PressReleases/index.aspx

IDAHO
Bulletin 02-08 establishes guidelines for filings mandated by the Federal Terrorism Risk Insurance Act of 2007. www.doi.idaho.gov/laws/bulletins.aspx

IOWA
The insurance department has issued a statement encouraging the sale of individual and family health insurance policies. The statement outlines information that consumers may be asked for as part of the application process. www.iid.state.ia.us/news_media/index.asp

KANSAS
The insurance department worked with industry advocates to draft legislation to amend pricing policies for the state workers compensation assigned risk plan. The department believes that current Kansas statutes artificially suppress the rates, thereby making some insurers pay a disproportionate share. www.ksinsurance.org/

LOUISIANA
Commissioner Jim Donelon appoints Caroline Brock deputy commissioner of Financial Solvency. Brock replaces Denise Brignac, who was appointed chief deputy commissioner. www.ldi.la.gov/public_affairs/most_recent_releases.htm

MAINE
“The law establishing Dirigo Health gives insurers of small groups the option to either submit rates for prior approval or guarantee that at least 78% of premiums collected will be paid out in claims,” said acting Insurance Superintendent Eric Cioppa. “Insurers must review premiums and related medical costs on a rolling 36-month time frame. Those who choose the guarantee option and find they do not meet the targeted 78% must refund the difference to employers.” www.maine.gov/pfr/insurance

MICHIGAN
The Utrict Court in West Michigan upheld Office of Financial and Insurance Services rules that prevent insurers from issuing policies with discretionary clauses. A discretionary clause gives an insurer authority to determine and interpret a consumer’s eligibility and their entitlement to benefits and amount of benefits. Under the clauses, insurer determinations would have the effect of binding courts reviewing insurer contract interpretations, effectively tying the hands of the judiciary by forcing a judge to give the insurer’s decision deferential treatment.

“The court’s ruling represents a big win for Michigan consumers,” says Commissioner Ken Ross. www.michigan.gov/dleg/0,1607,7-154-10555-186917--,00.html

MINNESOTA
The Departm Commerce joined 26 other states and the U.S. Department of Agriculture in an effort to stop crop insurance rebating. The state agencies have agreed to coordinate with each other and the federal government and share information. Examples of rebating schemes include items of value being tied to crop insurance purchases; the creation of special investment entities; and soliciting farmers as licensed sub-agents so they can share the commission on their own crop insurance policies. www.state.mn.us/portal/mn/jsp/home.do?agency=Commerce

MISSOURI
Pearson VUE is the’s new provider of insurance producer exams for individuals seeking licensure in Missouri.Appointments may be scheduled through Pearson VUE by calling 866.274.4740 or visiting www.pearsonvue.com. www.insurance.mo.gov/

NORTH CAROLINA
After 24 years in officurance Commissioner Jim Long has not filed for re-election in 2008. www.ncdoi.com/

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