Final Tri-Agency Rule | National Union Fire Settles for $13.9 Million | FINRA fines Voya | NY-Based Warranty Company Hit with Fine | Almost $100 Million in Refunds Issued | Regs, Bulletins
Weekly snippets from the Insurance Compliance Insight (ICI) Newsletter. A weekly subscription service published by an insurance compliance professional for insurance compliance professionals!
Final Tri-Agency Rule: Supplemental Insurance Survives, Limited Duration Policies Are Capped at Four Months
The so-called “Tri-Agency Rule” was crafted through a collaborative effort between three key regulatory bodies—the Department of Health and Human Services (HHS), the Department of Labor (DOL), and the Department of the Treasury (Treasury)…
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National Union Fire Settles for $13.9 Million on Student Health Policies
New York Superintendent of Financial Services Adrienne A. Harris announced that the National Union Fire Insurance Company of Pittsburgh (NUFIC) is required to pay very significant penalties and restitution following a Consent Order entered into with the New York State Department of Financial Services…
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FINRA fines Voya Financial Advisors $500,000 for Paying Comp on VUL Sales to an Unregistered Entity
A Letter of Acceptance, Waiver and Consent was issued in which Voya Financial Advisors, Inc. (the firm) was censured and fined $500,000…
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NY-Based Warranty Company Hit with $100,000 Fine by Washington OIC for Operating Unlawfully
First Premier Home Warranty Corp (“First Premier” or “the Company”) troubles with the Office of the Insurance Commissioner (OIC) started with a consumer complaint…
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Almost $100 Million in Refunds Issued to Consumers by FTC for Harm Caused by Benefytt Technologies’ Sham Health Plans
In a Press Release dated March 14, 2024, the Federal Trade Commission (FTC) announced that close to $100 million has been sent to consumers harmed by the “sham health plans” promoted by Benefytt Technologies (Benefytt or the Company) as well as both affiliated and third-party entities and officers…
Your Guide to Insurance Regulations, Bulletins, and Legislation
Alphabetically by line of business/topic and then by state.
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