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Best Practice: Title Insurance Red Flags
The Texas Insurance Department has issued a list of “red flags” that could help title insurers and their business partners deter mortgage fraud....
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Current Results Show Cause for Concern, Coalition Says As It Goes On Fraud Offensive
Two new reports from the Coalition Against Insurance Fraud are raising concerns that fraud remains vast, persistent and immensely damaging – and that current efforts aren’t producing satisfactory results. But the group has also released plans to go on the offensive against fraud and those who commit the crime....
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Insurers Want Technology to Detect Fraud, Speed Claims
Just how much insurance fraud is there? According to one industry expert, the answer depends on how much fraud an insurance company really wants to find....
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Federal Regulators Seek Comment About New Proposed Consumer Privacy Notice
Get ready for another round of discussion about privacy notices. Last week, eight federal regulators released a notice of proposed rulemaking about a model privacy form that insurers and other financial service companies....
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State Farm Avoids Class Action On Slabs; OKs Reopening Cases
State Farm won a major victory in its Hurricane Katrina litigation March 22 when federal District Court judge L.T. Senter refused to certify a class action against the carrier. The decision was just one of several Katrina-related legal developments last week....
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Senators Offer Six-Part Hurricane Solution
Florida’s two U.S. senators have introduced what they called “a six pack” of proposals to help deal with hurricanes. They include $10 million to set up a commission to determine how the nation can best respond to, and pay for damage caused by natural disasters....
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Holocaust Claims Commission Ends Work After Overseeing $300 Million in Payments
A commission formed to handle to the processing of Holocaust-era claims has wrapped up its work, having overseen the payment of more than $300 million in claims....
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NAIC Acts to Upgrade, Standardize Benefits for Medicare Supplement Insurance Plans
The National Association of Insurance Commissioners has adopted amendments to a model regulation that would streamline and significantly update standardized benefits for Medicare supplement insurance plans. The group is also selecting regulators who will take another look at disaster reporting....
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New Broker-Dealer Regulator Taking Shape With Appointment of Senior Executives
The new federal regulator that will soon oversee the operation and conduct of broker-dealers continues to take shape with the naming of executives to head core areas of member regulation, enforcement and dispute resolution....
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NASD Improves Online BrokerCheck Service
NASD has launched a redesigned version of an online service that will make it easier for insurers to check on the professional background and market conduct of their current and future broker-dealers....
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NAMIC Execs Find, Charitably, Bald Is Beautiful
Nine NAMIC executives are supporting cancer research....
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Rules, Regs & Bulletins March 26, 2007
A summary of recent regulatory developments and legislation....
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