Pennsylvania Insurance Department News

Pennsylvania Launches Program to Support Innovation, New Insurance Products

The Pennsylvania Insurance Department (PID) has launched a new program that aims to encourage the insurance industry to deliver innovative insurance solutions and products. Keystone Smart Launch seeks to help reduce barriers and speed up the regulatory process so Pennsylvania …

Pennsylvania Property Owners Encouraged to Purchase Flood Insurance

Pennsylvania Insurance Commissioner Jessica Altman is urging property owners to consider purchasing flood insurance to protect their homes, businesses and possessions. For many Pennsylvanians, extreme weather, including flooding caused by hurricanes and severe thunderstorms, can be a common occurrence throughout …

Pennsylvania’s Bedivere Insurance Company to Be Liquidated

The Pennsylvania Commonwealth Court has approved the liquidation of Bedivere Insurance Company, formerly One Beacon Insurance Company, recognizing that the company’s financial liabilities have exceeded its assets. Bedivere, a domestic stock property/casualty company based in Pennsylvania, has consented to the …

Pennsylvania Provides Guidance for Businesses Damaged During Civil Unrest

Pennsylvania Insurance Commissioner Jessica Altman has released guidance to Pennsylvania businesses damaged during the civil unrest across the state. The information is intended to assist business owners identify what is generally covered by understanding the terms in their policies and …

Pennsylvania Outlines Temporary Licensure Process for Insurers During COVID-19

The Pennsylvania Insurance Department has submitted a notice to all state insurance companies and agencies outlining the process for issuing temporary licenses for Pennsylvania resident insurance producers during the COVID-19 pandemic. “The COVID-19 pandemic is impacting the operations of businesses …

Pennsylvania Insurance Commissioner Appointed as NAIC Committee Chair

Pennsylvania Insurance Commissioner Jessica Altman has been selected for the second consecutive year to serve as chair of the Health Insurance and Managed Care Committee of the National Association of Insurance Commissioners (NAIC), the organization reported in announcing its leadership …

Penn. Insurance Department Announces Restitution for Consumers in Annuity Scam

Pennsylvania Insurance Commissioner Jessica Altman said her department has gotten more than $117,000 in restitution for 25 Pennsylvania consumers victimized in a major annuity scam. “I am pleased we were able to recover this money for Pennsylvanians, many of them …

Pennsylvania Makes Changes to Reduce Chances of Workers’ Comp Rate Filing Errors

Pennsylvania Insurance Commissioner Jessica Altman and Labor & Industry Secretary Jerry Oleksiak announced agreements with two insurers and the Pennsylvania Compensation Rating Bureau (PCRB) to protect Pennsylvania businesses and lessen the chances of errors in the filing of loss costs, …

Pennsylvania Insurance Department to Hold NextGen Academy for College Students

Pennsylvania Insurance Commissioner Jessica Altman has announced that her department, along with a working group of stakeholders, will this summer hold the Pennsylvania NextGen Insurance Academy to provide college students with an up-close look at various careers in the insurance …

Loss-Cost Reduction for Workers’ Comp Insurance Approved in Pennsylvania

Pennsylvania Insurance Commissioner Jessica Altman has approved a loss-cost filing, including a 12.95% reduction in loss-costs – a component in determining workers’ comp insurance rates paid by businesses. This reduction is expected to lead to lower premiums for many Pennsylvania …