state insurance regulation News

People Moves: Hatchette Named Deputy Insurance Commissioner in Maryland

Joy Y. Hatchette has been named deputy commissioner of the Maryland Insurance Administration (MIA). Acting Maryland Insurance Commissioner Marie Grant announced the appointment of Hatchette, who since 2004, has served as the associate commissioner for consumer education and advocacy. She …

Delaware Voters to Elect Insurance Commissioner

On November 5, Delaware voters will decide who will be the state’s insurance commissioner. Incumbent Trinidad Navarro is running for re-election. He won more than 70% of the vote in the Democratic primary in September. Navarro was first elected commissioner …

Washington Fines Fred Meyer Stores $100K for Unlawfully Selling Insurance

Washington Insurance Commissioner Mike Kreidler issued a cease-and-desist order and fined Fred Meyer Stores Inc. $100,000 for selling insurance without state authorization. Fred Meyer stores reportedly sold the GUARD Protection Plan, issued by Mack Camera & Video Service, to a …

Bill Introduced to Keep CFPB Out of State Insurance Regulation

New bi-partisan legislation meant to keep the regulation of insurance companies with state regulators was introduced in the Senate on Jan. 16. The Business of Insurance Regulatory Reform Act of 2024 from senators Tim Scott, R-S.C., and Joe Manchin, D-W.V., …

Delaware Takes Fight Against IRS Over Captive Insurers’ Data to Supreme Court

The state of Delaware is going to the Supreme Court in its fight with the Internal Revenue Service (IRS) over the release of information on captive insurers. This fight has placed Delaware’s state regulation of insurance and its authority to …

New York’s High Court Upholds Insurance Regulation Opposed by Agents

New York insurance agents have lost their bid to overturn a state consumer regulation governing the sale of life insurance and annuity products that they believe is vague and exceeds the state insurance regulator’s authority. The Regulation 187 that agents …

Domestic Violence Charge Against New Hampshire Insurance Official Dropped

A domestic violence charge against New Hampshire’s deputy insurance commissioner has been dropped. D.J. Bettencourt, who also was a former policy director for Gov. Chris Sununu, was arrested May 5 and accused of assault. The charge was dropped Tuesday. In …

What State Insurance Regulators Have Asked of P/C Insurers to Address Coronavirus

As state insurance regulators monitor and respond to the coronavirus impact on insurance, property/casualty insurers are calling on them to coordinate their requests for data and ease up on some requirements. David A. Sampson, president and CEO of the American …

Small Firms’ Access to Low Cost Health Plans Depends on State

As small business owners shop for 2019 health insurance, some will for the first time have the chance to join forces and buy cheaper insurance – depending on which state they’re in. New rules that began going into effect last …

Top 10 Market Conduct Complaints by Regulators Against P/C Insurers

Failure to handle claims within specified time frames and using unapproved forms and rates are the top two criticisms of property/casualty insurers by market conduct regulators, according to a new report. Waltham, Mass.-based Wolters Kluwer Financial Services reported its annual …