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Hawaii Increases Minimum Auto Limits

July 2024
The bill amends HI ST s 431:10C-301 to increase the liability limits from 20/40/10 to 40/80/20. The Commissioner is expected to issue a memorandum to solicit rate filings from motor vehicle insurers to reflect these limits. Rate filings will be due no later than July 1, 2025. The increased limits will be effective for new and renewal policies on or after Jan. 1, 2026. Also effective for new and renewal policies on or after Jan. 1, 2026, primary insurance coverage for each shared car available and used through a peer-to-peer car sharing program must not be less than 40/80/20. Pursuant…
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New Jersey Participating in Climate Risk Survey Reporting

July 2024
The New Jersey Department of Banking and Insurance (DOBI) issued Bulletin No. 24-09 to set forth the procedures for the 2023 Climate Risk Survey Disclosure. Completed Survey responses are due by Aug. 30, 2024. Read More
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Washington Participating in Climate Risk Survey Reporting

July 2024
The Washington Office of Insurance Commissioner has issued its guidance for the completion of the Climate Risk Disclosure Survey for reporting year 2023. Completed survey responses are due on Aug. 30, 2024. Read More
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Jan 1

Property Insurance Report National Conference

November 10-12, 2024 Dana Point, CA View Event
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Changes in Division of Industrial Relations (DIR) Audit Unit Practices Regarding Subsequent Fines

July 2024
Effective June 28, 2024, important updates are being implemented by the Division of Industrial Relations (DIR) Audit Unit. Moving forward, the DIR Audit Unit will implement and enforce the issuance of the subsequent fine structure under NRS 616D.120(2)(b) using a graduated fine schedule. Read More
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New Jersey DOBI Issues Order on PLIGA Assessments

July 2024
The New Jersey Department of Banking and Insurance (DOBI) has issued Order A24-05 regarding the New Jersey Property-Liability Insurance Guaranty Association (PLIGA) Assessment. The notice provides that the surcharge amount insurers are allowed to assess is now 0.3% of the net direct written premiums per annum. Failure to comply with the terms of the Order may result in the imposition of penalties by the DOBI. Read More
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Illinois Company Bulletin 2024-13 – Climate Risk Disclosure Survey

July 2024
For the current survey, Reporting Year 2023, all participating insurers are required to report using the Task Force on Climate related Financial Disclosure (TCFD)-aligned NAIC Climate Disclosure Risk Survey, which is consistent with the past two reporting years. Since the TCFD- aligned survey was first developed and implemented in 2022, the number of regulators implementing the Survey almost doubled, expanding the number of companies covered by around 20%. For guidance on the specific survey sections and questions, reference the NAIC Climate Risk Disclosure Survey document. Read More
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Washington OIC Issues 2023 Fires Data Call, Requests Insurers Extend Additional Living Expense

June 2024
The OIC is urging insurance companies to extend the additional living expenses (“ALE”) benefit for wildfire victims who are nearing their 12-month limit on that specific coverage for the 2023 Spokane-area fires, which began on August 18, 2023. The OIC is instructing each authorized property & casualty insurer that has a loss associated with the August 2023 Gray Fire and Oregon Road Fire to submit two fully completed worksheets to the NAIC Regulatory Data Collection filing services.  The first report is due August 15, 2024. Read More
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Louisiana Data Call Relating To Homeowners’ Insurance Policies

June 2024
Act No. 9 of the 2024 Regular Session of the Louisiana Legislature grants all authorized property and casualty insurers, including surplus lines insurers, (collectively, insurers), the authority to cancel certain homeowners’ insurance policies subject to the three-year rule. Bulletin 2024-01 provides notification and updated guidance on reporting requirements relating to homeowners’ insurance policies issued in the state of Louisiana. Read more
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DC Terrorism Risk Insurance Act Of 2019

June 2024
The purpose of this Bulletin is to provide advice regarding certain provisions of the Terrorism Risk Insurance Program Reauthorization Act of 2019 that amend and extend the Terrorism Risk Insurance Act of 2002 (the Act) and which may require insurers to submit revised disclosure notices, policy language, and applicable rates due to reauthorization of the ACT to the Department of Insurance, Securities and Banking.             Read More
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