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On August 1, 2025, Governor JB Pritzker approved Senate Bill No. 1289, amending the definition of “home state” as it relates to more than one unaffiliated insured from a group and named as insureds on a single surplus lines insurance contract. Prior to the enactment of the bill, if…

Read More Illinois Amends the Definition of “Home State” for Unaffiliated Groups Under Its Surplus Lines Laws

On June 10, 2025, Governor Lamont signed Senate Bill No. 9 into law. In light of the passage of the bill, on July 8, 2025, the Connecticut Insurance Department (Department) issued Bulletin PC-93-25, addressed to “all companies licensed to write homeowners and renters insurance.” The bulletin “provides guidance to…

Read More New Connecticut Flood Insurance Disclosure Requirements

On July 2, 2025, the Connecticut Insurance Department (Department) issued Bulletin PC-92-25 (Bulletin), addressed to “all companies licensed to write property and casualty insurance.” The Bulletin rescinds and replaces Bulletin PC-92, dated July 23, 2021, concerning flex-rate filings and provides additional guidance to insurers for rate filings submitted on and after June 30, 2025. The Bulletin provides that Public Act No. 25-86 extended the flex-rating provisions under Conn. Gen. Stat. § 38a-688a until July 1, 2030.Read More Connecticut Extends Flex-Rate Filing Provisions Until July 1, 2030

On June 23, the New York State Department of Financial Services (NYDFS) issued an industry letter to all regulated entities — banks, insurers, money transmitters, virtual currency companies, and others — cautioning that escalating global conflicts are intensifying threats to the U.S. financial system. The letter highlights increased risk from destructive cyberattacks, sanctions evasion, and illicit activity involving virtual assets. NYDFS urges institutions to take immediate, proactive steps to strengthen operational resilience, ensure compliance, and protect the financial sector from geopolitical spillover.Read More NYDFS Warns of Heightened Risk From Global Conflicts: What Regulated Entities Must Do Now

The 2025 National Association of Insurance Commissioners (NAIC) President and North Dakota Insurance Commissioner Jon Godfread has stated that:

“As state insurance regulators and NAIC Members, our efforts are anchored by two core principles: maintaining fair, sound, and stable insurance markets, and protecting and educating consumers.”Read More NAIC Establishes the Risk-Based Capital Model Governance (EX) Task Force in 2025

On February 11, New Jersey Banking and Insurance Commissioner Zimmerman issued Bulletin 25-03 regarding the use of artificial intelligence systems (AIS) in insurance, applicable to all insurers authorized or admitted in New Jersey. New Jersey becomes the 23rd state to adopt the bulletin based on the NAIC Model Act on the Use of AIS by Insurers.Read More New Jersey Adopts Bulletin on AI Use in Insurance

On February 3, the Hawaii Insurance Division issued a press release stating that Insurance Commissioner Gordon Ito has retired as of January 31. Ito served in the division for 31 years in various capacities, including as commissioner for 10 years. He also served under four Hawaii governors and was most…

Read More Hawaii Insurance Commissioner Gordon Ito Retired Effective January 31, 2025

On November 14, 2024, Oklahoma issued Bulletin 2024-11: Use of Artificial Intelligence Systems in Insurance. The Bulletin is applicable to all insurers that hold a certificate of authority to do business in the state and is based upon the NAIC Model Bulletin on the Use of AIS by Insurers.
Read More Oklahoma Issued Bulletin 2024-11: Use of Artificial Intelligence ‎Systems in Insurance