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Print Version of All Articles in Feb. 4 ICI, Part 1
Print out this file for all of the text in the current issue....
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Print Version of All Articles in Feb. 4 ICI, Part 2
Print out this file for all of the text in the current issue....
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Insurers Might Be In for a Rough Ride During This Week’s Florida Property Insurance Hearings
Wondering what’s in store for insurers during this week’s Florida Senate hearings? Then consider what happened during the last meeting of the Select Committee on Property Insurance Accountability, when consumer advocate Robert Hunter charged that some insurers haven’t passed on the savings resulting from their purchasing low-cost reinsurance from the state....
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Errors in Claims, AML Compliance, Sales Lead to $28.75 Million in Settlements
Two insurers are among four companies that have recently settled enforcement actions with insurance and federal regulators, resolving issues relating to bid rigging, improper claims handling, abuses in the sale of variable annuities and anti-money laundering compliance. The price tag: a collective $28.75 million....
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Judge Denies Punitive Damages in USAA Katrina Dispute
USAA has been ordered to pay one of its policyholders $64,000 for wind damage in a Hurricane Katrina dispute, but the judge in the case refused to allow a jury to award punitive damages....
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GAO Suggests Greater Oversight of Flood, Wind Claims; Flood Insurance Shaping Up As Key 2008 Issue
A report about flood insurance from the Government Accountability Office doesn't show that the insurance industry has engaged in a pattern of improperly attributing wind damage to water. But it does say that there might be a conflict of interest when insurers adjust both wind and water damage claims....
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NAIC Panel Wants Ideas About Definition of Confirmed Complaint...
An NAIC group is seeking industry comments about what should be considered a confirmed complaint....
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... As NAIC Identifies 2007’s Top Consumer Gripes
The latest NAIC complaint data shows that consumers are filing fewer grievances about insurers, but they continue to gripe about the same things....
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Colorado Legislature Defeats Credit Ban, But Wisconsin Senate OKs Similar Bill
Colorado has voted down a ban on using credit information for new business, but Wisconsin is considering approving something similar....
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Kansas AG Opinion: Rate Data Must Remain Open to Public
Information in an insurer’s sealed bid for state business in Kansas may not be as confidential as the company thinks....
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Regulator Changes Afoot in Maine, Delaware, Washington, New Mexico
There will soon be new insurance commissioners in Maine and Delaware, Washington insurance commissioner Mike Kreidler is seeking authority to review health insurance rates, and a former New Mexico regulator is headed to jail....
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IRES School Offers Two Days of Education, Chances to Meet with State Regulators
Suitability standards, a check-up on states’ use of market analysis and tips to control market exam costs headline the agenda of the IRES Foundation’s annual National Insurance School on Market Regulation....
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Compliance Salary Survey: How to Keep Your Job In Any Economy
More than half of all workers answering a recent survey say they aren’t worried about losing their jobs. Still, another 37 percent said they were, so it’s probably not a bad idea to review the best ways to stay employed....
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Rules, Regs & Bulletins Feb. 4, 2008
A summary of recent regulatory developments and legislation....
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