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The Virginia State Corporation Commission has appointed Scott White Commissioner of the Virginia Bureau of Insurance effective January 1, 2018. He succeeds the retiring Jacqueline Cunningham. The bureau licenses, regulates, investigates and examines insurance companies, agencies and agents on behalf of the citizens of the Commonwealth of Virginia with a staff of about 195 state employees. The Bureau of Insurance…
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 to amended S.C. Code Ann.…
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 demand” (in insurance rating, taking…
The Nash Group provides litigation management services to insurance companies in all states where it is permitted to do so without being a licensed attorney. Ohio attorney Jeff Nash is also admitted to the practice of law in Georgia, where being a Georgia licensed attorney is required to litigation management services. Both Jeff and Nash Group Senior Attorney Karen Shaw honed their litigation management skills at Progressive,…
Under a family of related federal laws intended to support U.S. foreign policy and national security goals it is a violation for an insurer to issue a policy, engage in a transaction (including receipt of premiums and payment of claims), or facilitate a transaction with an OFAC Target. These laws are administered by the Office of Foreign Assets Control (OFAC). …