Posts Tagged: Adverse Actions
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Jan 30, 2012
No Comments10 New P&C Underwriting Commandments
As we get ready for 2012 legislative sessions, property and casualty compliance professionals must ensure that policy underwriting guidelines are up to date or risk the wrath of regulators. As always, there was significant legislative activity governing adverse actions in 2011: cancellation, nonrenewal, premium increase or coverage changes and policy declination. In case you missed...
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Dec 19, 2011
No Comments“Other” Adverse Action Notice Requirements to Keep in Mind
Each year property and casualty adverse action notice compliance problems make it into the top 10 list of market conduct examiners’ criticisms. These issues include the requirements for days’ notice, mail type, permitted reasons and actual notice requirements needed on the face of the form or letter itself. We have written about these common issues...
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Dec 12, 2011
No CommentsUSPS Proposed Cuts Create Compliance Challenges
The United States Postal Service has battled huge deficits for years, caused by a combination of diminishing revenues and rising operational costs. I honestly cannot tell you the cost of a stamp today and my ever more expensive “forever stamp” offers no clue, but raising stamp prices has not done enough. The USPS recently made...
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Nov 03, 2011
No CommentsSnowtober in Connecticut: Claims, Clean-up and Compliance Continue
The Connecticut Insurance Department reissued three “disaster” bulletins this week in the wake of the devastating Nor’easter that hit New England with a fury on Oct. 29th and 30th. With claims currently projected to exceed those due to Hurricane/Tropical Storm Irene, Connecticut and other nearby states declared states of emergency as the massive clean-up continues this...
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Aug 15, 2011
No CommentsPolicy Termination: A Look at 2011 Legislative Updates
As state legislatures adjourned this spring, compliance professionals were busy analyzing and implementing regulatory changes. Once again, laws that regulate property and casualty policy termination practices have been a focal point in 2011. As always, legislative changes are the catalyst for review and possible compliance updates to underwriting guidelines, policy provisions, policyholder notices, and policy...
