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May 12, 2014
Print Version of Articles in May 12 ICI
Print this file for text of articles in the current issue....
AIG in Federal Settlement for Insurance Sales Involving Cuba
AIG admitted that some senior management knew about the sales, and that the compliance programs of its two Canadian subsidiaries were inadequate at the time of the violations....
Unlicensed Jewelry Insurer in $590,000 Washington Settlement
The company self-reported selling more than 425,000 unauthorized service contracts since the state required licensing in 1999....
Iowa Imposes Sanctions for Failure to Supervise Agent
Suitability of sales was also questioned....
Utah Updates Approach to Rebating, Agent Commissions
New definitions for those terms come in a bulletin released earlier this month, and go into effect May 13....
New RAND Study Warns of Negative Impact on Workers’ Comp Without TRIA Reauthorization
But the Consumer Federation of America said this week that it continues to believe there is no need to reauthorize TRIA....
NAIC Presses Congress for ‘Long-Term’ TRIA Reauthorization, State Voice at Financial Stability Board
Commissioners also pushed for strong state authority and a role in consumer protection as the country implements the Affordable Care Act....
Insurance Regulations, Bulletins & Legislation – May 12, 2014
Our exclusive roundup of recent regulatory developments and legislation...
Insurance Compliance Insight
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