regulator News

Rule Requires Washington Insurers to Notify Consumers of Appeal Rights

All insurers in Washington that take action against a policyholder must include information in the notices about the right to appeal and how to contact the insurance commissioner’s Consumer Protection division if they need assistance. That’s according to a new …

Kreidler Revokes Licenses of Washington Agency, Issues Fines to Others

Washington Insurance Commissioner Mike Kreidler issued fines in November totaling $63,550 against insurance companies, agents and brokers who violated state insurance regulations, including revoking the licenses of one producer. Following are fines and punitive steps Kreidler took in November and …

UK Regulator’s Acting CEO McDermott Withdraws From Race for Permanent Role

U.K. Financial Conduct Authority’s acting top executive withdrew from the race to take the role permanently after manning the post following the government’s ouster of the last head. Chief Executive Officer Tracey McDermott interviewed for the position last year. U.K. …

China Mulls Creation of New Regulator for State Financial Sector

China is considering a proposal to create a ministerial-level body to manage its state-owned banks and non-bank financial enterprises, two sources with knowledge of the plan said, a move that would strengthen Beijing’s grip on its lenders. China’s motivations for …

Clinton Selected as Michigan Insurance Regulator

Michigan Gov. Rick Snyder has selected Kevin Clinton as head of the agency that regulates insurance and financial institutions in the state. Clinton will oversee the Office of Financial and Insurance Regulation, which is charged with protecting consumers by ensuring …