NAMIC sent an alert last month on several proposed regulations, two of which address property/casualty companies. One would require insurers to provide notice to insureds of their right to be re-underwritten on an annual basis if they thought their credit-based insurance score had improved. The second rule mandated carriers notify the Department of Insurance after they had settled a third-party claim for $5,000 or greater.
The response received by the Department of Insurance from NAMIC and others caused the department to undertake an initiative to increase communication with public stakeholders during the development phase of rulemaking. To facilitate this, the department is creating a list of those who are interested in participating. Members who would like to join the list can either contact the department or let us know and we will coordinate with the department.
State Affairs Manager
Posted: Monday, October 08, 2012 11:50:53 AM.
317.875.5250 - Indianapolis | 202.628.1558 - Washington, D.C.