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Mopeds covered by Uninsured & Underinsured Insurance in South Carolina

South Carolina Auto Insurance must cover moped use under the uninsured motorist and underinsured motorist coverage. On June 21, 2017, South Carolina Director of Insurance Ray Farmer issued Bulletin Number 2017-03.  Mopeds are now included in the definition of a motor vehicle for the purposes of uninsured and underinsured motor vehicle insurance coverages (only) pursuant […]

Nancy Atkins appointed Commissioner of the Kentucky Department of Insurance on May 1

Nancy G. Atkins was appointed commissioner of the Kentucky Department of Insurance on May 1.  Formerly the Deputy Commissioner, she has worked in the insurance industry for 33 years, both as an agent and employee benefit manager. Before joining the Department of Insurance, she was director of sales and marketing at Bluegrass Family Health Inc.  […]

Chlora Lindley-Myers, new Director of the Missouri Department of Insurance

Chlora Lindley-Myers, has been appointed the Director of the Missouri Department of Insurance by Governor Greitens.   She most recently served as Deputy Commissioner at the Tennessee Department of Commerce & Insurance (TDCI) Deputy Commissioner.  Early in her career she had a 10 year stint in underwriting and claims administration for Aetna Life, and her career has […]

Big Win for Florida Auto Insurers

The Florida Personal Injury Protection System, the bane of private passenger insurers who have deployed large amounts of capital to combat persistent fraud, took a turn in favor of the insurance industry.  This development did not come from a Florida Legislature striving to make the system work or trying to create an environment where insurance […]

Pennsylvania Sovereign Immunity

Sovereign immunity limiting the liability of governmental entities is not commonly understood.  An insurance carrier recently asked me to opine on the appropriate reserve on an underinsured motorist  claim where the insured sustained serious injury in a vehicle accident caused by a PennDOT employee who swerved left of the center line.  I explained that the reserve […]

David Altmaier named Florida Insurance Commissioner

It was announced today (April 29) that David Altmaier, Florida’s current Deputy Commissioner, Property & Casualty, has been unanimously approved by the Florida Cabinet for the position of Insurance Commissioner of the Florida Office of Insurance Regulation. Current Commissioner Kevin McCarty has served as Florida’s chief insurance regulator for over ten years.  He will remain in office […]

Leslie Hess Named Arizona Interim Insurance Director

Arizona Governor Doug Ducey has appointed Leslie Hess as the Interim Director of the Arizona Department of Insurance.  The official press release states Hess has been with the Department of Insurance for 12 years as deputy receiver and legal advisor.   She was with the Arizona Legislative Council for 2 years and worked for the Arizona Corporation Commission, Securities Division […]

Maynard and Vullo New Insurance Commissioners Kentucky & New York

Brian Maynard and Maria Vullo are the newest state insurance commissioners (1/22/2016).  [Blogger’s Note: April 2017 Commissioner Maynard resigned and Nancy Atkins was appointed KY Commissioner.] Kentucky Governor Matt Bevin has named Brian Maynard as the new Commissioner of the Kentucky Department of Insurance, replacing Commissioner Sharon Clark. Mr. Maynard is a certified financial examiner and has been […]

Price Optimization – State Regulation Roundup

I have been asked to provide a roundup of the state developments with respect to “price optimization”.  Some states acknowledge that “price optimization” does not have a universally recognized definition.  There is a continually growing number of states that have stated that to the extent “price optimization” involves rating that considers non-risk-related factors such as “price elasticity of […]

The rest of the Price Optimization story…

As I have been investigating price optimization (PO), I learned that there are two primary concerns:  The first concern is whether the application of PO is a move away from risk based rating.  The second concern is whether PO results in rates that are unfairly discriminatory, particularly to low income consumers.  In other words, would […]