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December 11, 2006
 
New Rules for Producing Electronic Documents Could Present New Challenges for Insurers
New rules governing discovery motions for electronically stored information are now in effect in the federal court system and could challenge insurance compliance professionals....
 
Physicians Insurance Uses Disastrous Exam to Improve Company’s Compliance Procedures
It may be the best $3.48 million an insurance company has ever spent. That’s what it has cost Physicians Insurance in to settle a market conduct exam with Washington state insurance regulators, but the compliance officer has no regrets....
 
Best Practice Tip: Physicians, Heal Thyself
These are several of the key findings of the market conduct examiners and Physicians’ own internal audit of its operations....
 
Physicians Insurance: Ethical Behavior
As part of its cultural overhaul, Physicians Insurance has adopted a Code of Business Conduct that’s designed to provide guidance for employees facing difficult decisions....
 
Physicians Insurance: Exam Provides $3.48 Million Compliance Lesson
The first market conduct exam ever for Physicians Insurance has been an expensive lesson in compliance – a $3.48 million lesson....
 
Exclusive Industry Salary Survey Remains Open

Express your views – anonymously – about your salary and benefits in the only salary survey developed specifically for insurance compliance professionals....

 
New Democratic Allies May Help Promote Federal Charter Bill

A number of insurance and banking trade groups have formed a coalition to press for enactment of an optional federal charter during the next Congress, and they may have some new allies in two powerful House Democrats....

 
Connecticut Carriers Have New Requirements; Cannot Require Shutters on Coastal Properties
Connecticut insurance commissioner Susan Cogswell issued a report that prohibits insurers from terminating a homeowner policies solely because customers don’t act to protect their property. Here are the new rules for insurers writing along the coast....
 
Climate, Foreign Travel, Financial Reporting on Agenda for NAIC’s Winter Meeting
Things are heating up at the winter meeting of the National Association of Insurance Commissioners. A four-hour hearing about global warming and insurance is on the agenda of the meeting in sunny San Antonio, Texas....
 
Iowa Will Allocate Most Market Conduct Exam Resources to Non-IMSA Life Companies

Iowa is giving a break on market conduct exams to members of the Insurance Marketplace Standards Association. A new bulletin says the insurance department will now allocate more examination resources to monitor and examine life insurance companies that aren’t IMSA members....

 
Four Carriers Ordered to Stop Paying Contingent Commissions for Four Coverages
Four insurers caught up in the two-year-old, multi-state investigation of improper contingent commissions will have to find new ways to compensate producers for the sale of certain lines of insurance....
 
Rules, Regs & Bulletins Dec. 11, 2006

A summary of some of the latest state regulatory actions....

 


Insurance Compliance Insight
Greenwich, NY
(518) 512-0175