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New Mexico Updates Disclosures and Exclusions Related to Uninsured Motorist/Underinsured Motorist

Posted: November 2021

This Bulletin serves as notice that the New Mexico Office of Superintendent of
Insurance (OSI) is requiring all automobile insurers covering risks located in New Mexico to
adopt, on an immediate basis, a Disclosure and an Exclusion for use in every automobile policy,
whether such policy is now in existence or is to be issued in the future, as set forth in this
Bulletin. 

Please see Bulletin 2021-024 from the Office of Superintendent of Insurance for more information. 

Louisiana Issues Bulletin to Provide Guidance on Reporting Requirements Related to Hurricane Ida

Posted: November 2021

The Louisiana Department of Insurance (LOI) is requiring all authorized property
and casualty insurers, including insurers that write private and/or excess flood insurance
coverage and surplus lines insurers, (collectively, insurers) to complete the claims
reporting Excel spreadsheet. 

Check out Bulletin 2021-10 for more information. 

Colorado Adds a New Regulation Addressing Rate Change Limitations Applicable to all P&C Carriers that File Rates and/or Loss Cost Filings

Posted: April 2021

The amended section of the regulation is intended to facilitate the transition to rate parity between policyholders of the same class and hazard to avoid unfairly discriminatory rating. The new section specifically addresses the practice of rate change limitations such as caps, ceilings, or floors to new and or existing policyholders.

Please see the Colorado Regulation Regulation 3 CCR 702 Reg. 5-1-20 s 1 for more information.

Arkansas Updates Filing Requirements for Property & Casualty Carriers

Posted: March 2021

When insurers submit any amendments, changes to policies or endorsements, and revisions to a rule manual previously approved or filed by the Department – a red-lined version of the language and a memorandum or summary highlighting the changes must be submitted.

Arkansas Insurance Department requires insurance companies to pay a fee of fifty dollars ($50.00) for all property and casualty submissions.

Please see Bulletin 1-2021 to learn about the new filing requirements in Arkansas.

Texas Amends the Notice Provided with Workers’ Compensation Policies, Certificates or Evidences of Coverage

Posted: February 2021

Texas 2020-6581, amends the notice that is to be provided with Workers’ Compensation policies, certificates or evidences of coverage. Effective July 1, 2021, The adopted amendment modifies the email address to [email protected] in the Spanish version of the notice (refer to Figure: 28 TAC §1.601(a)(2)(C) of §1.601).. The form of notice is not required to be filed with the Department.

District of Columbia has announced the temporary postponement of property and casualty rate increases during the public health emergency

Posted: December 2020

In Bulletin 20-IB-3-11/23, The District of Columbia D.O.I. has announced the temporary postponement of all rate increases filed during the Public Health Emergency to provide further relief to policyholders. The postponement is effective immediately.

Martin & Company can help your company stay in compliance, please contact us today.

Order Requiring Additional Automobile Insurance Refund Filings

Posted: July 2020

Michigan issues order requiring additional automobile insurance refund filings by July 24, 2020.

Please see Order No. 2020-13-M for more details. 

Terrorism Risk Insurance Program Reauthorization Act – 2019 – Deadline Approaching!

Posted: July 2020

Your Terrorism Notices need to be updated to comply with the Terrorism Risk Insurance Program Reauthorization Act of 2019. 

Martin & Company’s State Filing Task Team is here to help get the proper forms and rules filed to remain compliant.
•    We can assist with the development of revised materials
•    Filing the necessary notices, corresponding rules, etc.
•    Provide access to OneView that allows for easy tracking of filing activity in one repository

Contact anyone on our team today for assistance!

Education Requirements for Licensees to be Waived due to COVID-19

Posted: March 2020

Pennsylvania has issued a bulletin regarding Education Requirements for Licensees that cannot be met due to COVID-19. The Bullentin also states that until further notice, temporary extentions for renewal deadlines will be given. 

Please see Bulletin 2020-06 for more details.