Former insurance commissioner and past president of the
National Association of Insurance Commissioners, Walter Bell,
becomes chairman of Swiss Re America Holding Corp., where he is
tasked with providing supervisory governance for the
company’s Americas businesses, as well as directing
regulatory and public affairs for Swiss Re’s North
America businesses. >> Jim Ridling, past president and
CEO of Southern Guaranty, takes Bell’s place.
Fraud Division Bureau Chief Rick Plein appointed deputy
commissioner of enforcement, replacing Dale Banda, who retired.
>> Bill requiring health insurers to cover routine HIV
screening awaits governor’s signature (as of press time).
Orders 11.57% average workers comp rate decrease,
bringing workers comp rate reductions in the state to about 30%
since last November. www.delawareinsurance.gov
Two state legislators say they’ll file a bill in
March to improve accountability in state financial regulation.
The move is spurred by the discovery that the Office of
Financial Regulation under Commissioner Don Saxon allowed more
than 10,000 criminals—including bank robbers, racketeers
and cocaine traffickers—to sell home loans, which they
then followed by stealing at least $85 million from consumers
and lenders. >> Insurance commissioner approves
AmCOMP-Employers Holdings merger. Requires AmCOMP to repay $8.4
million in excessive profits to Florida policyholders, in
accordance with state workers comp law. >> Workers comp
rates to fall for sixth straight year—requested average
decrease for 2009 is 14.1%. www.floir.com
Ups the age for dependents to remain on parents’
health insurance to 26 years old (30 if the dependent is active
duty or veteran U.S. military). The law takes effect Jan. 1,
and families can start adding dependents in March, at renewal
or during open enrollment. www.idfpr.com/DOI/Default2.asp
Rescinds Rebate Bulletin 08-11 that was expected to
lead to prohibitions on insurer gifts and services not
specifically incorporated into the policy. Detailed guidelines
are published: Gifts can’t be conditioned on buying a
policy; value of gifts permitted from $5 to $25; value-added
services allowed if appropriate in scope, related to type of
product involved and not excessive. >> Insurance Division
creates enforcement bureau with Philip Deats, an administrative
law judge with the Division of Inspections and Appeals, as
Third straight year of decreased workers comp loss
costs, 5.1%, suggests drop in 2009 workers comp rates.
Citizen’s Insurance, the state’s backup
insurer, expects to pay out $150 million for Gustav. It paid
out $1.3 billion for combined Katrina and Rita claims.
Allows average 5.4% workers comp rate drop, effective
Jan. 1. www.mdinsurance.state.md.us/
Gov. Patrick proposes regulation requiring employers
with 11 or more full-time employees to enroll at least 25% of
full-time workers in a company group health plan and pay 33% of
the premium for individual coverage for employees within 90
days of their starting work. The current rule is that employers
must do one or the other. Failure to comply currently invokes a
$295 per employee assessment, and that penalty would be applied
under the proposed expansion of coverage mandates. The new
regulation, if approved, goes into effect Oct. 1. >>
Department of Insurance offers free information to consumers,
including savings methods, finding a licensed agent, risk
management and lodging a complaint against an agent or insurer.
Court of Appeals supports Insurance Department, ruling
that carriers in the state cannot use customer credit scores to
set home and auto premiums. Decision is being appealed to the
state supreme court. Insurers may continue using credit scoring
Insurance Department negotiates rate filings with
Allstate and State Farm. Rate increases vary widely depending
on location of the property and types of coverage carried.
Details available at the Department’s Web site.