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December 17, 2007
Print Verion of All Articles in Dec. 17 ICI
Print out this file for all text in the current edition....
California Seeks $12.6 Million for Policy Rescissions, ‘Irresponsible’ Claims Processing ...
The California insurance department is seeking to assess $12.6 million in fines and penalties for improper policy rescissions and “irresponsible" claims processing. The carrier says the sanctions aren't warranted....
... As State Trial Court is Told to Reconsider Decision on Class Action for Blue Shield Rescissions
A California appeals court has ordered a trial judge to reconsider his decision to not certify a class action against an insurer accused of improper health insurance policy rescissions....
Massachusetts Commissioner, Attorney General Continue Review of Free-Market Auto Insurance Rates
Massachusetts insurance commissioner Nonnie Burnes is touting new lower premiums for auto insurance. But Martha Coakley, the state’s attorney general, isn’t convinced and has ordered three insurers with a combined 60-percent market share, to further justify their rates....
The Latest About Fraud: Three New White Papers, Two Toyota Ads and a Florida PIP Bill
The Coalition Against Insurance Fraud is asking Toyota to drop its latest television ad campaign, fearing that it encourages people to commit insurance fraud. It also issued three new fraud reports, and noted the introduction of an anti-fraud bill in the Florida legislature....
House Passes Its TRIA Bill, But Senate Version Should Ultimately Prevail
The House of Representatives is expected to vote this week to approve the Senate version of the Terrorism Risk Insurance Act extension legislation and send it to the White House, where President Bush is expected to sign it into law....
New Report, Senate Hearing Witnesses Voice Concern About Using Reverse Mortgages to Buy Annuities
A new AAPR report is warning that lenders are trying to talk consumers into using the proceeds from reverse mortgages to pay for annuities and long-term care insurance. Witnesses at a recent Senate hearing said they are worried, too....
Towers Perrin Forecasts 3.9 Percent Pay Raises; Use ICI’s Salary Survey to See If That Holds True for Compliance Pros
A new survey from Towers Perrin is forecasting a modest 3.9-percent increase in salaries for 2008. Will that prognosis hold up for insurance compliance professionals? One way to find out is to participate in the third annual Insurance Compliance Insight Salary Survey....
Have A Merry Christmas and a Joyous Holiday!
In keeping with the Insurance Compliance Insight publishing schedule, the next edition will be posted to www.ins-compliance.com on Dec. 30, 2007. Have a safe and wondrous holiday season with your family, friends and colleagues.
Rules, Regs & Bulletins Dec. 17, 2007

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


Insurance Compliance Insight
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(518) 512-0175