Rhode Island Fines | Transamerica Life Insurance Company | USAA Life Consent Order | Senior Life Insurance Company Consent | Regs, Bulletins and Legislation
Weekly snippets from the Insurance Compliance Insight (ICI) Newsletter. A weekly subscription service published by an insurance compliance professional for insurance compliance professionals!
Rhode Island Fines Allstate on Repeat Claims Violations
In a June 11, 2024, Consent Agreement, the Rhode Island Department of Business Regulation (“Department”) looked to an earlier Consent Agreement with Allstate Property & Casualty Insurance Company; Allstate Fire & Casualty Insurance Company (together “Allstate”) for similar issues to determine the administration fine of $30,000 and make other changes to their processes.
↓ READ MORE ↓
Transamerica Life Insurance Company Gets Another Two-Year Variance on Plans for Travel to Iraq and Afghanistan: Applies to All Companies
Transamerica Life Insurance Company (Company), a foreign insurance company in Florida, petitioned the Florida Office of Insurance Regulation (FLOIR) for a limited exception from Rule 69O-125.003, which prohibits “unreasonable discrimination based upon travel plans and sets forth an actuarial process by which an insurer wishing to make underwriting decisions based on travel plans may do so.”
↓ READ MORE ↓
USAA Life Consent Order Follows Market Conduct Examination
In an Illinois market conduct examination covering September 1, 2021, through August 31, 2022, with the complaints portion of the examination going back to March 1, 2021, USAA Life Insurance Company (“Company” or “USAA”) agreed to a Stipulation and Consent Order with the Illinois Department of Insurance (“Department”).
↓ READ MORE ↓
Senior Life Insurance Company Consent Agreement on Agent Termination
Georgia-domiciled Senior Life Insurance Company (“Senior Life” or “Company”) entered a Consent Agreement with the State of Rhode Island Department of Business Regulation (“Department”) on June 14, 2024.
↓ READ MORE ↓
Your Guide to Insurance Regulations, Bulletins, and Legislation
Alphabetically by line of business/topic and then by state.
↓ READ MORE ↓
