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Westmont Wire

California DOI issues notice on Proposition 22 Insurance provisions

On February 3rd, 2021 the California Department of Insurance issued a notice regarding the newly enacted Proposition 22 and related insurance coverage for app-based transportation occupations.
Proposition 22 requires the expansion of certain types of insurance coverage for app-based transportation occupations within the state of California. The types of expanded coverage include accidental medical expense coverage, disability/income loss coverage, and accidental death coverage, etc. Transportation Network Companies (“TNC”) and Delivery Network Companies (“DNC”) are required to carry, provide, or otherwise make available to their app-based drivers no later than March 16, 2021
Please find additional details contained within the Notice linked  HERE.
For more information on this Notice, or any other regulatory compliance matter, please contact Westmont Associates, Inc.
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Pennsylvania DOI issues Notice to Medical Malpractice insurance carriers

On January 30th, 2021, the Pennsylvania Department of Insurance issued Notice 51 Pa.B. 664 directed to medical malpractice insurance carriers requiring a response to a data call pursuant to 40 P.S. Section 1303.711(d)(3).
Each insurer providing medical professional liability insurance within Pennsylvania is required to respond to the data call no later than March 1, 2021. Insurers with positive medical malpractice direct written premium in 2019 are identified in Exhibit 2 of the data call. Data for more than one insurer should not be combined into a single submission.
For more details regarding this matter, please review the Notice HERE.
Westmont Associates, Inc. handles compliance matters for all facets of Medical Malpractice insurance, including SERFF filings.   Please contact us for any questions regarding our services.
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Michigan DOI issues Bulletin regarding Automobile Rule and Rate filings

On January 28th, 2021, the Michigan Department of Insurance issued Bulletin 2021-07-INS as a reminder to automobile insurers that, beginning February 1st, 2021, personal automobile rule and rate filings must be submitted no fewer than 90 days prior to their effective date pursuant to MCL 500.2108(6).
Additionally, auto insurance rule and rate filings submitted after February 1st, 2021 must use a new P&C Rate Checklist which can be found on SERFF under the Supporting Documentation tab under the heading of “Checklist Submission.”
For more details regarding this matter, please review the Bulletin  HERE.
Westmont Associates, Inc. can assist with product development and SERFF filings for Personal Automobile in Michigan. Please contact us with any questions regarding our services.
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