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October 8, 2007
 
Print Version of All Articles in Oct. 8 ICI
Print out this file for all the text in the current issue....
 
Massachusetts Bans the Use of Credit Scores, But Won’t Mandate Personal Auto Rate-Setting Factors
Massachusetts insurance commissioner Nonnie Burnes has filed the final regulation governing managed competition in the private passenger automobile insurance market, and it includes a total ban on the use of credit scores for underwriting and rating, at least for the time being....
 
Congressional Panel Not Pleased With Impact Credit Scores Have On Minorities …
Insurers and the Federal Trade Commission took it on the chin from two influential members of the House Financial Services Committee who questioned the fairness of credit scores during an Oct. 2 hearing....
 
... And Promises Continued Discussions About Federal Charters, Other Regulatory Reforms
The industry has been talking with states and Congress about regulatory reform and an optional federal charter for quite a while, but it now looks like all of those discussions have merely been a prelude of what’s to come – even more discussions....
 
State Farm Will Lower Florida Property Rates, Cooperate With Collusion Investigation…
A settlement between State Farm and Florida's Office of Insurance Regulation has people talking about one of the conditions mentioned in the settlement agreement....
 
… As Coventry First Tells Florida It Will Enhance Its Business Practices

Coventry First will write and implement a Business Practices Enhancement Plan as part of its settlement with Florida that resolves a market conduct exam and show cause order against the life settlement company...
 
NAIC Reports States Making Progress in Their Market Analysis Efforts
States are making some progress in implementing a market analysis process, but the results of an NAIC survey show that staffing and transparency remain open issues....
 
Allianz Life Selects Minnesota Regulator as First Chief Suitability Officer
Allianz Life Insurance Company of has hired the deputy commissioner of the Minnesota Department of Commerce as its new chief suitability officer. Patrick Nelson will oversee all suitability processes and procedures and be responsible for developing best practices....
 
New California Working Group Will Look at Annuity Sales, Part D, Other Senior Issues
It may be time to take another look at how your company transacts business with senior consumers in California. The insurance commissioner there has formed a working group of a dozen senior-level to take a hard look at senior issues....
 
Rules, Regs & Bulletins Oct. 8, 2007

A summary of recent regulatory developments and legislation....
 


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