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August 26, 2013
Notice to Readers – Aug. 26, 2013
In keeping with our publication schedule, the next issue of Insurance Compliance Insight will be available Sept. 9, 2013.
Print Version of Articles in Aug. 26 ICI
Print this file for text of articles in the current issue....
Best Practice Tip: MassMutual Shows How to Avoid Unclaimed Property Penalties
No write-ups, no dings, no demerits for any transactions dating back 30 years....
Washington Fines Four Insurers $100,000 for Overcharging Premiums
The errors stemmed from using an unapproved rating factor when calculating premiums for policies in which consumers’ previous insurer had been a non-standard insurer.....
Industry Corporate Governance Proposal Seeks to End Redundant Reporting
The insurance industry is prepared to go along with the idea of insurers submitting annual corporate governance reports if states eliminate existing reporting redundancies....
FIO Director Discusses Captives, Delivery Date for Modernization Report
This time, the estimate for the release of FIO’s regulatory modernization report is two weeks, or perhaps a month or more after that....
Federal Regulators Issue Business Continuity Guidance
The advice, drawn from lessons learned from Storm Sandy, is intended to help improve responses to, and to reduce recovery time after, significant large-scale events....
PCI Warns NAIC to Prepare to Defend State Insurance Regulation
“We are at a critical juncture in the political process where there appears to be a bureaucratic need for non-insurance regulators to expand,” executive warns....
NAIC’s TRIA Reauthorization Resolution Earns Industry Support
An NAIC working group has also scheduled a conference call to discuss an FIO request for information about reauthorizing TRIA....

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