2014 Laws for Transportation Network Companies (TNCs) and Drivers

This is a compilation of my notes on key regulation of Transportation Network Companies (TNCs) and TNC Drivers reported in various insurance industry communications during 2014.  I share it with you as a point of reference covering many key developments being closely watched by the private passenger auto insurance carriers, as the exposure to adjust, defend or […]

Terrorism Risk Insurance Act (TRIA) expires at the end of 2014

The Terrorism Risk Insurance Act (TRIA) will expire at the end of 2014. Objections in the Senate by lame-duck Senator Tom Coburn, (R-OK) on December 16th prevented the passage of Senate Bill 2244, a bill already passed with bipartisan support by the House of Representatives, that would have extended the Terrorism Risk Insurance Act for […]

Mediation: Overcoming barriers to claim settlement

Mediation has proven time and time again to be a very cost-effective and fair method for resolving disputes.  Far too often the real hurdle to effectuating a settlement is the need for one or more of the parties to “tell their story” so they can purge themselves of the emotional angst.  Most often this is […]

Cost of Non-Compliance

Stacey English & Susannah Hammond recently published a paper in which they wrote (and it bears repeating as they are so right): The costs and consequences of non-compliance within financial services firms are greater than ever before. The cost for firms of endeavoring to be compliant has been growing in line with the rapid rate […]

Plan For Market Conduct Exams

State insurance departments have been aggressive with market conduct examinations in personal lines (auto and homeowners). We have seen a marked uptick in the frequency of calls asking us to prepare researched responses to the market conduct issues and to negotiate with the examiners to minimize fines, as well as to temper the severity of […]

Transportation Network Companies (TNC) – New Laws

The pace of the enactment of new laws and regulations with respect to the operation of Transportation Network Companies is steadily advancing.  In the past several years, Transportation Network Companies (TNCs) have emerged where drivers use their personal vehicles to provide passengers a ride arranged through a smartphone App for a fee.  The person looking […]

Insurance Compliance Officers Take Heed of OFAC Mandates

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 […]

The Nash Group litigation management services.

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 […]

Difference between hurricane deductibles and wind deductibles

I have been asked:  “Is there a difference between a hurricane and a wind deductible in a homeowner’s insurance policy?”  The answer is, generally, with most homeowner insurance policies, YES, there is often a difference between wind deductibles and hurricane deductibles.  It depends on how the insurance policy describes the deductible.  The deductible is the […]

Insurance mailing rules for Cancellation & nonrenewal notice

In calculating the number of days for mailing notice of cancellation or nonrenewal, an insurer must add “mailing days” to the minimum number of days required as advance notice before the effective date. The number of days that must be added varies by state, and state specific research is needed to determine the requirements.  The general […]