On April 26, 2004, the New Jersey Department of Banking and Insurance (“NJDBI”) issued Bulletin No. 04-05 advising property & casualty insurers that they may use credit scoring in determining an insured’s rate provided that consumer protection measures are established, including, but not limited to providing rate, underwriting and classification exceptions for consumers whose credit information has been directly influenced by extraordinary life events, such as a serious illness, temporary loss of employment; divorce; or identity theft, to name a few.
Read More P&C Insurers to Submit Copies of Consumer Notices in connection with Credit Scoring to New Jersey Department of Banking and Insurance
PCI Compliance Survey Finds Companies Need Improvement
The Ponemon Institute recently published a survey on Payment Card Industry Data Security Standards (“PCI DSS”) compliance. The Ponemon Institute is an independent research firm that conducts research on privacy, data protection and information security policy. …
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Virginia Issues Guidance on Information Security Program Requirement
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Financial Regulatory Reform Outlook
New York Appellate Court: Claims Against Manufacturer of Ear Protectors Barred by Statute of Limitations
Earlier this month, a New York appellate court held that claims against the manufacturer of protective devices for ears were barred by the three-year statute of limitations governing actions to recover damages for personal injury. …
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Chinese Drywall – Federal Judge Issues Default Against Chinese Drywall Manufacturer
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Read More Chinese Drywall – Federal Judge Issues Default Against Chinese Drywall Manufacturer
Standard & Poor’s Releases Report on Brazilian Reinsurance Market
Standard and Poor’s recently released a report on the Brazilian reinsurance market entitled “Brazil’s Reinsurance Market: What Has Changed in the Past Year?” …
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Connecticut Superior Court Grants Summary Judgment for Insurer in Lawsuit Involving Uninsured Motor Vehicle Claim and Common Law and Statutory Bad Faith Claims
Connecticut Federal Court Awards Summary Judgment in Favor of Insurer Due to Insured’s Failure to Cooperate
Public Hearing on Massachusetts Information Security Regulations
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