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Michael Yaworsky is taking over as commissioner of Florida’s Office of Insurance Regulation after being appointed by Florida Gov. Ron DeSantis as interim insurance commissioner, replacing Commissioner David Altmaier who stepped down in December. Yaworsky, was Altmaier’s chief of staff from 2017 to December 2021, at which time he became the vice chair of the Florida Gaming Control Commission. He…
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 Ian smashed into the southwest…
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 automobile policy to a resident…
West Virginia Governor Justice announced, on September 22, 2021, the appointment of former Insurance Commissioner Allan McVey as the new West Virginia insurance commissioner, filling the position recently vacated by Jim Dodrill. The appointment requires the advice and consent of the Senate. McVey, who recently served as secretary of administration, served as commissioner from March 2017 to January 2019.
The question was recently posed in a discussion blog about when an insurer must file Applications with the Florida OIR. Essentially asking, when does Section 627.410, Florida Statutes, require the Application to be filed. This filing rule requires filing of an “…application form where written application is required and is to be made a part of the policy or contract….” …
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 NAIC was founded in 1871.…
Connecticut has enacted a new law (HB 7126) effective July 1, 2019, that will increase the cost of auto insurance for Connecticut drivers. The new law allows an injured party to recover double or triple damages in civil actions involving a person who operates a motor vehicle while using a hand held mobile device or other electronic device. It will…
Streff v. State Farm Mutual Auto. Ins. Co., 2017 S.D. 83, was decided by the Supreme Court of South Dakota on December 13, 2017, affecting coverage in private passenger automobile policies for underinsured motorist coverage. The Court held that the government vehicle exclusion with respect to underinsured motorist coverage in private passenger auto policies unenforceable, and that it violates South Dakota public…
Effective March 28, 2018, all private passenger automobile insurers in Idaho must use the NEW Uninsured and Underinsured Motorist Disclosure found in which includes election/selection form found in Appendix A of the Idaho Administrative Code at IDAPA 18.01.20 Section .016. Carriers must begin using the new form for all new policies and those existing policies where UM or UIM coverage is added or removed…
Michael Conway has been appointed interim Colorado Insurance Commissioner, which became effective January 1, 2018. As Insurance Commissioner, Conway will also head the Division of Insurance (DOI), a part of the Colorado Department of Regulatory Agencies (DORA). Former Colorado Insurance Commissioner Marguerite Salazar, who has been serving in two roles since July 2017, when she was appointed as DORA Executive…