Advertising
    Oregon Bulletin INS 2009-5 withdraws two insurance bulletins: INS-2009-1 and INS 2009-4. A new bulletin, INS 2009-6, withdraws bulletins INS-2009-2 and INS 2009-3, and also updates the state’s filing procedures for life insurance and annuity advertisements. The guidance applies to all sales and marketing materials used by life and annuity insurers and producers.
 
 
Annual Statements & Financial Regulation
    Mississippi has extended the deadline to comment about a proposed regulation governing how it deem a company to be in a hazardous financial condition. Substantive changes were made to proposed Regulation 2009-2 following a June 18 hearing. They include adding a new section 3 (20) and moving the effective date to Aug. 1. Comments are now due by noon Thursday, June 25.
 
 
Automobile Insurance
    New Hampshire HB 199 requires parties to sign a warning accompanying documents tendered to settle bodily injury claims when they may be subject to uninsured motorist insurance coverage. The law, which goes into effect Jan. 1, 2010, requires this specific language:
WARNING
“If you sign this release you may forfeit your right to uninsured motorist insurance benefits from your own automobile insurance policy. Consult with your insurance agent, your automobile insurance company or your attorney before signing.”
I certify that I have read the above warning and fully understand it.
 
 
Health Insurance
    New rules in Maine regulation Chapter 765 sets requirements and procedures for health insurance carriers to prepare for public health emergencies.
 
    New Jersey is proposing new rules and amendments in an attempt to strike a balance between the competing interests of health insurers and health care providers when developing provider networks.
 
    New York Gov. David Paterson is trumpeting a new proposed insurance regulation, the 43rd amendment to Regulation 62, that would, among its provisions, require an insurer to make certain that its “usual and customary” rate schedule fairly and accurately reflects market rates, and that it:
    • fairly and accurately reflects geographic differences in costs;
    • is based on sufficient data, to the extent available, to constitute a representative and statistically valid sample of charge data for the same or comparable service and type of provider;
    • is credible in methodology, data and relationships;
    • includes suggestions from a diverse group of relevant companies, groups, health care providers and market researchers;
    • confirms the accuracy of all data submitted using independent research; and
    • is updated periodically to reflect changes in health care provider charges, but no less frequently than once in any consecutive 12-month period.
    The regulation will govern health and accident insurers, as well as HMOs that promise to base reimbursements for consumers who go out of network on the usual and customary rate of the service provided. It will take effect 60 days after appearing in the State Register.
 
 
Insurance Fraud
    Florida has a new weapon against the wholesale theft and abuse of addictive prescription drugs. SB 462 sets up a statewide prescription monitoring program to track addictive prescription drugs. Monitoring programs can be effective weapons in fighting the nation’s drug-diversion epidemic, which is financed heavily through insurance fraud, the Coalition Against Insurance Fraud reports. July 1 is the effective date.
 
 
Medicare Supplement Insurance
    A Texas rule proposal seeks to amend rules 28 TAC 3.3303, .3306, .3308, .3319 and .3322 and add a new rule, 28 TAC 3.3326, to adopt minimum standards for Medicare supplement policies. The proposal also includes a new benefits chart for Medicare supplement plans with effective dates on or after June 1, 2010.
 
 
Producers
    A Nevada notice says the state will add an additional assessment of $60 to each new license application and license renewal. The assessment starts July 1 and will be earmarked for the Insurance Division’s Administration and Enforcement Account.
 
 
Property/Casualty Insurance
    New York’s proposed 11th amendment to Regulation 41 changes the governing standards for lines of insurance that excess line brokers can place with unauthorized insurers.
 
 
Rates, Forms & Filings
    Idaho has amended IDAPA 18.01.44 to give insurers 10 free paper filings each year; it will then assess a $20 fee for each paper rate or form filing after that. No fee will be assessed for SERFF filings.  
 
    New Jersey, in NJAC 11:2-36.8 and amendments to other rules, now requires that property/casualty rate and form filings be filed using SERFF.
 
 
 (RR&B is produced with the assistance of The CLEAR Report and the Coalition Against Insurance Fraud.)
 
Copyright 2009 ProBusiness Publishing LLC

Publish date Jun 22 2009
Prior Issues

Reprinted with permission from Insurance Compliance Insight.
Copyright © 2009 ProBusiness Publishing LLC
Licensed from ProBusiness Publishing LLC. All rights reserved.