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Best Practice: Know Your Regulator
Here’s something compliance pros and state regulators can agree on: You’ll be miles ahead when you have a good working relationship with someone in the insurance department....
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Automobiles, Annuities, Administrative Errors Rank Among Most Common Exam Failings
Problems with auto insurance cancellations, annuity sales to seniors and simple administrative errors are some of the more common errors that examiners have been finding during market conduct exams....
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Regulators: We’re Depending Less on Exams, More on Market Analysis to Monitor Insurers
Market conduct examiners say they are cutting back on exams and looking for other ways to make market analysis and oversight of the industry more effective and more cost-effective....
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Use Regulator’s Checklist to Avoid Errors on Annual Statement
A new checklist can help you identify a number of errors that state examiners often find in Market Conduct Annual Statement filings....
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Compliance Pros Eligible for New IRES Exam Designation
Insurance compliance professionals are among those who will soon be eligible for a new industry regulatory compliance designation program offered by the Insurance Regulatory Examiners Society....
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Proposed Fair Conduct Bill for Insurers Makes Washington State Climate ‘More Hostile’
PCI is warning that a bill passed by the Washington state legislature has created a “more hostile” environment for insurers....
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GAO Report Suggests State Regulators, HUD Need to Strengthen Regulation of Title Insurance
A new Government Accountability Office report is recommending that the federal government strengthen the regulation and oversight of the title insurance market....
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Katrina Judge Dismisses Class Action, Remains Hopeful of Future Settlements
A federal judge in Mississippi who is overseeing most Katrina-related litigation dismissed a proposed settlement of a class action suit against State Farm Insurance, but held out hope that good-faith negotiations could settle other outstanding cases....
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Jury: Allstate Didn’t Settle Claim Fast Enough
Allstate Insurance must pay a Louisiana man who lost his home to Hurricane Katrina more than $2.8 million in damages and penalties. The judgment includes $1.5 in punitive damages because the jury thought the company was too slow in paying the claim....
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Louisiana Property Insurance Reforms Include Grants for Insurers’ Capital Investments
Louisiana insurance commissioner Jim Donelon is backing a legislative package designed to attract new insurers to the state and drive down rates....
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Legal Opinions Address Loss Reserves, Licenses
The New York Insurance Department has issued a number of legal opinions that affect the business operations of insurers and producers....
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Rules, Regs & Bulletins April 23, 2007
A summary of recent regulatory developments and legislation....
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