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Best Practice: Let Time Pass Between Notices
There are lessons everyone can learn from a West Virginia workers’ compensation carrier about when and how to mail premium notices....
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Judge Sends Hurricane Settlement Back to State Farm for More Work
Federal judge L.T. Senter Jr. said he rejected an agreement that State Farm signed to settle Hurricane Katrina claims because of its complexity, attorneys fees and other issues....
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Compliance Profile: Johnson Takes A Go-Slow Approach As Conseco’s New Chief Compliance Officer
As someone new to the company, the chief compliance officer at Conceso is finding things work best if he takes things slow at first....
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NAFA White Paper Seeks to Clear the Air On Fixed Annuities
The National Association for Fixed Annuities has issued a white paper that it wants the industry and others to use to dispel myths about fixed indexed annuities....
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Shortcomings in Broker-Dealer’s AML Program Lead NASD to Assess $3 Million Fine
Life insurers can probably learn a lesson or two from the broker-dealer arm of Banc of America, which will pay a $3 million fine to NASD for a number of shortcomings in its anti-money laundering program....
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MBIA Will Pay $75 Million in Fines, Restitution to Settle State, SEC Bond Fraud Investigation
Bond insurer MBIA will pay $75 million to settle charges made by the New York Insurance Department and the Securities and Exchange Commission that it engaged in a 1998 scheme to disguise a $170 million loss on bonds it had insured....
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Washington State Fines 103 Carriers for Errors Found in Market Conduct Exams
Washington state authorities have announced a series of fines and sanctions against 103 insurers and agents following market conduct exams....
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Florida Hearing Will Examine Insurers’ Use of Job, Education for Underwriting...
Florida insurance commissioner Kevin McCarty has scheduled a Feb. 9 hearing to look into the practice by insurance companies of basing premiums on an applicant’s job or level of education....
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...As State Issues Order Freezing Rate Hikes
Insurers that were thinking of raising rates before Florida’s new property/casualty rules go into effect will have to wait now that Gov. Charlie Crist issued an emergency order Jan. 29 that freezes rates and places a moratorium on nonrenewals....
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South Dakota Auto Bill Will Require OEM Parts
A proposal before the South Dakota legislature would change rules for the use of aftermarket auto parts....
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Insurance Sector Slammed In Latest Rating of Reputation, Trust, Customer Service
Insurance companies didn’t do well in the latest ranking of a company’s reputation in the marketplace by The Wall Street Journal....
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New Committee Chairs in Place at NAIC; Enhanced Producer Registry Web Site Opens
The National Association of Insurance Commissioners has settled on committee chairs for 2007 and has updated its producer licensing Web site....
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Rules, Regs & Bulletins Feb. 5, 2007
A summary of the latest regulatory and legislative developments....
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Salaries of Elite Canadian Business Executives Don’t Take Long to Match Rank-and-File Wages
The salaries of the 100 highest-paid Canadian executives north had, by Jan. 2 at 9:46 a.m., amounted to as much as the average Canadian can expect to earn for all of 2007. See how your compensation matches up by completing the ICI salary survey....
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