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AZ Director Evan Daniels resigns; Shane Foster Named Acting Director

Shane Foster has been named the Acting Director of the AZ Department of Insurance and Financial Institutions, following the resignation of Director Evan Daniels.   Director Daniels is joining the law firm of Mitchell Sandler.    Acting Director Shane Foster joined the Arizona Department of Insurance and Financial Institutions (“DIFI”) in November 2020.  Before joining DIFI, […]

MARK FOWLER APPOINTED ALABAMA COMMISSIONER OF INSURANCE

Mark Fowler, who has been serving a as Alabama’s Acting Insurance Commissioner since the retirement of Commissioner Jim Ridling in July of 2022, has been appointed as Insurance Commissioner by Governor Ivey.  Fowler was Chief of Staff of the Department of Insurance prior to being appointed Acting Insurance Commissioner.  Fowler joined the department in 2013, […]

Nick Stosic named as Nevada’s Interim Insurance Commissioner

Nick Stosic has been named as Interim Commissioner at the Nevada Division of Insurance, replacing Barbara Richardson, who has been Nevada’s Insurance Commissioner since March 2016. Stosic most recently served as Nevada’s Deputy Insurance Commissioner responsible for oversight of the Product Compliance, Market Regulation, and Captives sections, while also acting as the liaison with Nevada’s […]

MO Insurance Director Lindley-Myers Elected President of the NAIC

Members of the National Association of Insurance Commissioners (NAIC) elected officers for 2023 during the closing activities of its Fall 2022 National Meeting in Tampa, Florida. Missouri Department of Commerce and Insurance Director Chlora Lindley-Myers was elected President for the 2023 term. She is the first woman of color to hold the position since the […]

Florida Insurance Commissioner David Altmaier Resigns After serving Six Years

The landmark legislation for the Florida property insurance market that passed the Florida Senate on December 12, 2022, is most likely the final major accomplishment for Florida Insurance Commissioner David Altmaier who submitted his resignation on December 15 (effective December 28, 2022).  Commissioner Altmaier has served as commissioner since 2016 and was the National Association […]

Florida Lawmakers Overhaul Property Insurance Law (12/12/2022)

Major legislation was passed by the Florida House of Representatives and Senate (SB 2-A) to revamp the Florida property insurance system. The new law creates a $1 billion reinsurance fund to provide critical support for carriers, many of whom have suffered in the violent storm seasons the past two years.  The session comes after Hurricane […]

2022 Elections for Insurance Commissioner

November 8, 2022 midterm election results for the incumbent Insurance Commissioners: CALIFORNIA Insurance Commissioner Ricardo Lara won in the 2022 midterm election with 58% of the vote.            GEORGIA Insurance Commissioner John King won in the 2022 midterm election with 54.1% of the vote.            KANSAS Insurance Commissioner Vicki Schmidt won in the 2022 midterm election with […]

Kentucky Auto Point-Of-Sale Tort Notice

The Kentucky Department of Insurance (Department) has issued Advisory Opinion 2022-0002, which clarifies the Department’s interpretation of the requirement for insurers to notify insureds of their right to reject the limitation of their tort rights. This Advisory Opinion was issued May 26, 2022, and was effective upon that day.  Every insurance company when issuing an […]

SC Director of Insurance Ray Farmer to Retire April 15, 2022

Ray Farmer will retire as Director of the South Carolina Department of Insurance on April 15, 2022.  Michael Wise, Deputy Director of Actuarial and Market Services, has been appointed to serve as Acting Director until Farmer’s successor is confirmed by the SC state Senate. Farmer has led the Department of Insurance since 2012.

IDAHO UNDERINSURED MOTORIST (UIM) CASE LAW ON SET-OFFS

Erick Pena v. Viking Insurance Company of Wisconsin, Supreme Court of Idaho (2/1/2022). A recent UIM declaratory judgment action discussed Idaho’s finding that Nationwide’s minimum limits UIM coverage with offsets is an illusory and in violation of public policy.  Viking denied Pena’s UIM claim, asserting that tortfeasor’s vehicle was not an “underinsured motor vehicle” as defined […]