Northeast Zone
Connecticut
Bulletin PC-63-24, dated July 3, 2024, addresses the “Exemption of certain commercial lines property and casualty policies from form, rate, and rule filing requirements.” Additionally, this Bulletin “rescinds Bulletin PC-71 regarding the exemption from form, rate, and rule filing procedures for claims made insurance policies. The Department indicates that it had reviewed a sampling of claims made in insurance policy form filings and found various compliance issues. As a result, the Department has determined that all claims made in policy filings will require a complete filing review and are removed from the exempted commercial lines of insurance set forth in Appendix A. Claims made form filings will be subject to full examination by the Department from the date of issuance of this Bulletin.”
Regarding the exemption of certain commercial lines policy filings from review, Bulletin PC-63-24 replaces Bulletin PC-63-01 and extends the Department’s program to exempt certain commercial lines policy filings from the current filing review procedures under section 38a-676-1 through 38a-676-3. Accordingly, the commercial lines of insurance set forth on Appendix A continue to remain exempt from form filing review procedures under the regulations.
New Hampshire
New York
Southeast Zone
Kentucky
Bulletin 2024-05, dated July 17, 2024, announced that the Administrator of the Mine Subsidence Insurance Program has established new premium rates for mine subsidence insurance which are effective Jan. 1, 2025, in accordance with HB 371. The Department of Insurance includes those new rates in this Bulletin and states that these new rates are to be charged for the appropriate amount of coverage. HB 371 increases the maximum total insured value eligible to be reinsured by the mine subsidence fund per structure from $300,000 to $500,000. Additionally, the additional living expense limit referenced in KRS 304.44-030(2) is increasing to $50,000.
The Bulletin further reminds insurers that all insurers doing business in Kentucky will need to re-execute reinsurance agreements with the Department due to the change in the total insured value eligible for reinsurance. The new reinsurance agreement, which the Department attached to this Bulletin, is to be executed by all insurers providing mine subsidence coverage by January 1, 2025. Regarding existing policies and renewals, policies in effect on January 1, 2025 “may remain at their current rate and coverage limit until renewal of the policy. The new reinsured value limits and corresponding premium rates reflected in this bulletin shall be implemented at the renewal of existing policies.”
Louisiana
Midwest Zone
Illinois
HB 5559 creates a new section 215 ILCS 5/154.10 concerning the determination of vehicle total losses. Applicable to policies issued or renewed on or after July 1, 2025, the following requirement is established: “Upon the determination of a total loss of an insured vehicle, the insurance company shall provide the insured with a brief description of how that determination was made, including any available repair estimate, estimated vehicle salvage value, assessed market value, and other costs and calculations used."
Michigan
Western Zone
California
SB 1320 enacts new mandates concerning processes to reimburse providers for mental health and substance use disorder treatment services. Effective January 1, 2025, “For services provided to an insured under a disability insurance policy issued, amended, or renewed on or after July 1, 2025, a disability insurer subject to Section 10144.5, and its delegates, shall establish a process to reimburse providers for mental health and substance use disorder treatment services that are integrated with primary care services. A process required under this section may be based upon federal rules or guidance issued for the Medicare program.”
Hawaii
Nevada
New Mexico
Kathy Donovan is Senior Compliance Counsel, Insurance with Wolters Kluwer Financial Services. Kathy has more than two decades of experience in insurance compliance. Her expert commentary on legal and regulatory issues affecting the insurance industry is widely published and she is a regular presenter at various industry events.
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