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Joel Ario, former insurance administrator of the Insurance Division in the Oregon Department of Consumer and Business Services (“DCBS”), has confirmed that he has accepted the nomination by Pennsylvania Governor Edward Rendell to serve as Insurance Commissioner for Pennsylvania. 

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Read More Introducing Pennsylvania’s New Insurance Commissioner

On June 4, 2007, the National Association of Insurance Commissioners (NAIC) adopted the Military Sales Practices Model Regulation.  The purpose of the Model Regulation is to provide uniform standards through which active duty service members of the United States Armed Forces are protected from dishonest and predatory insurance sales practices. 

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Read More NAIC Adopts Military Sales Practices Model Regulation

Given the escalating costs of covering legitimate health care services, the last thing the health insurance industry needs is to be paying for services that were never rendered.  Fortunately, state and federal laws provide harsh penalties for this sort of fraud. 

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Read More Group Health Incorporated Spots Insurance Fraud in Alleged Brain Surgery Scam

In an effort to stay one-step ahead of related federal legislation, an interested parties group within the NAIC has begun drafting an interstate compact that will allow for the uniform regulation of excess/surplus line transactions. 

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Read More NAIC Begins Drafting of Excess/Surplus Lines Interstate Compact

Earlier this week, the Reinsurance Task Force (“RTF”) met at the NAIC’s quarterly conference in San Francisco to discuss ways to overhaul reinsurance regulation in the United States thereby reducing collateral charges for nonadmitted reinsurers. 

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Read More NAIC Plans to Address Collateral Issue by Modernizing Reinsurance Regulation

On May 24, 2007, optional federal charter (OFC) legislation was reintroduced into the Senate as the National Insurance Act of 2007 (S. 40) (NIA), co-sponsored by John Sununu (R-NH) and Tim Johnson (D-SD).  A similar bill is expected to be reintroduced into the House by Ed Royce (R-CA) in the coming weeks. 

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Read More National Insurance Act/Optional Federal Charter Legislation Reintroduced in Senate

A Massachusetts Appeals Court recently issued an opinion that highlights the importance of policy provisions and renewal application questions requiring insureds to update the insurer concerning changes in circumstances. 

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Read More Insured Is Under No Duty To Notify Insurer of Material Changes In Coverage Risk