After 33 years at the Maine Bureau of Insurance, including 10 as superintendent and 13 as deputy superintendent, Eric Cioppa will retire on April 1, 2022. Cioppa joined the insurance department in 1988 as a statistician then served as supervisor …
The District of Columbia reports that it is part of a $100 million settlement with digital asset lending platform BlockFi Lending. The Department of Insurance, Securities and Banking (DISB) said the settlement is related to the company’s sales of unregistered …
The U.S. insurance industry’s top compliance shortcomings relate to claims handling noncompliance, including timeliness, required disclosures, payments and grievance and appeal processes—as well as underwriting, rating and insurance producer and sales issues. That’s according to a review by Wolters Kluwer …
The country’s insurance regulators are vowing to prioritize the monitoring of the use of consumer and non-consumer data by companies, the use of artificial intelligence, and the availability and affordability of insurance products for racial minorities. They say they will …
The National Association of Insurance Commissioners (NAIC) will have officers for 2021. The newly-elected officers will assume their duties on Jan. 1, 2021. Members of the association of regulators elected these leaders for the new year: President: Florida Insurance Commissioner …
New Mexico’s top insurance regulator is stepping down. The Albuquerque Journal reported that state Superintendent John Franchini has withdrawn his application to serve a third four-year term and instead plans to retire. His term ends Dec. 31. A nine-member state …
The bill that turned Illinois into the focal point of a bitter debate over car-sharing last year started as a proposal about what happens when a rental car is stolen. The legislation, which would allow rental companies to punish customers …
The U.S. Federal Reserve is wary of giving “fintech” firms such as OnDeck Capital Inc. or Kabbage Inc. access to the country’s financial infrastructure, putting the central bank at odds with other regulators looking to bring them into the fold. …
A body of U.S. state banking regulators on Thursday sued the federal government to void its decision to award national bank charters to online lenders and payment companies, saying it was unconstitutional and puts consumers and taxpayers at risk. The …
New York state’s top banking regulator on Friday sued the U.S. Office of the Comptroller of the Currency, seeking to void its decision to begin granting national bank charters to financial technology companies. Maria Vullo, the superintendent of the New …
