Raymond G. Farmer will continue as the Director of the South Carolina Insurance Department as announced recently by South Carolina Governor Henry McMaster. Mr. Farmer has served as the Director of Insurance in South Carolina since 2012 when he was appointed by then Governor Nikki Haley. He was previously the
State Legislative Developments
Julie Mix McPeak Reappointed as Tennessee Insurance Commissioner by Governor-Elect Bill Lee
By Tim Vasil on
Posted in State Legislative Developments, United States
Tennessee Governor-Elect Bill Lee has reappointed Julie Mix McPeak as the Tennessee Insurance Commissioner. Julie Mix McPeak has served as the Insurance Commissioner in Tennessee since 2011 and was previously the Executive Director of the Kentucky Office of Insurance.
Midterm Elections—Florida and Georgia Update
As we noted last week in our QuickStudy 2018 Statewide Elections: A Mixed Bag for Insurers?, elections for Governor of Florida and Georgia and Georgia Insurance Commissioner were too close to call. The outcomes of these races were important to insurers, reinsurers, consumers, policyholders and others involved in the…
California Electric Utilities’ Problems are Above Smokey the Bear’s Pay Grade!
By Tim Vasil on
On August 31, 2018, the California Legislature passed a number of bills addressing various issues related to wildfires that have ravaged the state in recent years. The following bills relate to insurance in connection with past and future wildfires:
SB-901 addresses a range of wildfire-related issues. The bill will ease…
Maryland Obtains Waiver for Health Reinsurance Program
By Troutman Pepper Locke on
Maryland officials will formally announce Wednesday that the federal government has approved an ACA state innovation waiver intended to help shore up Maryland’s individual health insurance market, which has suffered from skyrocketing premiums and declining participation by healthier persons following the repeal of the ACA’s individual mandate. The plan will…
South Carolina Department clarifies confusing change in its new Insurance Data Security Act
As reported here, the NAIC adopted a model law for the protection of the data and systems used by the insurance industry, and South Carolina became the first state to enact legislation based on the NAIC model. In doing so, however, the South Carolina legislature created some uncertainty by…
Rhode Island Seeks to Clarify Original Intent of Reg. 68
By Troutman Pepper Locke on
Rhode Island’s Insurance Business Transfer Act (“IBT”) (“Regulation 68”) permits the transfer and ‘novation’ of commercial ‘legacy business’ (subject to certain limitations) from one carrier to another, subject to court approval. It also permits the ultimate commutation of that business should the transferee, at some point in the future, determine…
Locke Lord LLP Austin Attorneys Jon L. Gillum and Lauren Fincher Publish “Cross-Agency Regulation of Service Contracts in Texas” in Latest Issue of the Texas Tech Administrative Law Journal
Under Texas law, extended warranties or “service contracts” are potentially subject to regulatory oversight by four state agencies. The Texas Real Estate Commission (TREC) oversees the licensing and regulation of home warranties—service contracts that cover a structural component, an appliance, or an electrical, plumbing, heating, cooling, or air-conditioning system of…
Georgia Domestic Division Bill Advances Through General Assembly
By Troutman Pepper Locke on
Posted in State Legislative Developments, United States
Both bodies of the Georgia General Assembly have passed a bill that would allow Georgia-domiciled insurers to divide into one or more parts. HB 754 would allow domestic insurers to draft a detailed plan of division and submit that plan to the Commissioner for approval. HB 754 would not require…
Interim Insurance Commissioner Appointed in Colorado
By Tim Vasil on
Posted in State Legislative Developments, United States
Colorado Governor, John Hickenlooper, has picked Michael Conway as the interim Colorado Insurance Commissioner beginning January 1, 2018. Michael Conway started at the Colorado Division of Insurance in March 2016. He most recently served as Deputy Commissioner for Consumer and Compliance Services. Mr. Conway previously worked in the Insurance Unit…