Category(s): National - 01/29/2023

On December 23, President Biden signed legislation that was passed by Congress that extends the National Flood Insurance Program’s (NFIP’s) authorization to September 23, 2023.

Fred E. Karlinsky, Esq. - GREENBERG TRAURIG, P.A., (954) 768-8278 , karlinskyf@gtlaw.com

Category(s): National - 01/29/2023

The National Association of Insurance Commissioners (NAIC) Financial Regulation Standards and Accreditation (F) Committee voted to accredit the Nevada, North Dakota, Colorado and Puerto Rico departments of insurance at the NAIC Fall National Meeting. To become accredited, the DOI must submit to a full on-site accreditation review by a team of independent consultants, who evaluate the department’s capabilities in financial solvency laws and regulations, financial analysis and examination capabilities, organizational and personnel practices, primary licensing, redomestications, and change of control of domestic insurers.

Fred E. Karlinsky, Esq. - GREENBERG TRAURIG, P.A., (954) 768-8278 , karlinskyf@gtlaw.com

Category(s): Florida - 01/29/2023

During the Board of Governors meeting held on December 22, Barry Gilway formally announced his intentions to step down from his position as President, CEO, and Executive Director of Citizens Property Insurance Corporation. Tim Cerio, General Counsel for Citizens, will step in as interim CEO.

Fred E. Karlinsky, Esq. - GREENBERG TRAURIG, P.A., (954) 768-8278 , karlinskyf@gtlaw.com

Category(s): Florida - 01/29/2023

Florida Insurance Commissioner David Altmaier tendered his resignation  on December 15. His last day was December 28. On December 20, the state’s life and health insurance regulator, John Reilly, announced that he would be stepping down from his position. Reilly is the third person to resign, following a similar departure announcement made earlier in the month by Deputy Commissioner of Property & Casualty, Susanne Murphy.

Fred E. Karlinsky, Esq. - GREENBERG TRAURIG, P.A., (954) 768-8278 , karlinskyf@gtlaw.com

Category(s): Florida - 01/29/2023

The Florida Financial Services Commission, consisting of the state’s Governor, Chief Financial Officer, Attorney General and Commissioner of Agriculture, will have the opportunity to name a new insurance commissioner in 2023. Insurance Commissioner David Altmaier announced in December that he would be leaving his post effective December 28. Altmaier served in various roles within the Florida Office of Insurance Regulation during his 14-year career with the state.  He also was president of the National Association of Insurance Commissioners in 2021.

Travis L. Miller, Esq. - RADEY LAW FIRM, (850) 425-6654 , tmiller@radeylaw.com

Category(s): Florida - 01/29/2023

On December 19, the Federal Emergency Management Agency (FEMA) promulgated an update on continuing Hurricane Ian recovery efforts. The agency announced The National Flood Insurance Program has received nearly 45,300 claims from the Category 4 hurricane, since it made landfall on September 28 in Southwest Florida and brewed across the state. The program has paid more than $1.46 billion to policyholders who sustained damage in Hurricane Ian, while the number of claims continues to climb increase.

Fred E. Karlinsky, Esq. - GREENBERG TRAURIG, P.A., (954) 768-8278 , karlinskyf@gtlaw.com

Category(s): Florida - 01/29/2023

The Florida Office of Insurance Regulation (OIR) issued a Notice to Industry on December 22, 2022. OIR is requiring enhanced catastrophe reporting for Hurricane Ian for January 2023. The reporting deadline for January is Wednesday, January 11, 2023. Insurers are to report Hurricane Ian claims data using the Enhanced 2022 CRF.

Fred E. Karlinsky, Esq. - GREENBERG TRAURIG, P.A., (954) 768-8278 , karlinskyf@gtlaw.com

Category(s): Georgia - 01/29/2023

On December 6, 2022, Commissioner John F. King issued Bulletin 22-EX-8 to clarify that Insurers will be deemed to have met the annual filing requirements of Georgia’s Mental Health Parity Act if they submit to the Department the same analysis and form they submit to CMS to show compliance with 42 U.S.C. Section 300gg-26(a)(8)(A).  Insurers who have yet to submit anything to CMS to show compliance with 42 U.S.C. Section 300gg-26(a)(8)(A) should refer to the instructions set forth in Bulletin 22-EX-7.

Tony Roehl, Esq. - BAKER HOSTETLER LLP, (404) 256-8419 , troehl@bakerlaw.com

Category(s): Georgia - 01/30/2023

On December 12, 2022, the Eleventh Circuit Court of Appeals in Crum v. Jackson National Life Insurance Company issued its opinion adopting the Georgia Supreme Court’s October 2022 answer to a certified question: “Is a life-insurance policy an illegal wagering contract if the insured takes out the policy on his own life with the intent to sell the policy to a third party with no insurable interest, but without a third party’s involvement in causing the policy to be procured?” The Georgia Supreme Court responded: “…[u]nder Georgia law, a life-insurance policy taken out by the insured on his own life with the intent to sell the policy to a third party with no insurable interest, but without a third party’s involvement when the policy was procured, is not void as an illegal wagering contract.” However, the federal appellate court, while reversing the federal district court, remanded the case for it to determine whether the claim for life insurance death benefits is barred by the doctrine of laches based on the fact that the insured died in 2005 and the claim was not filed with the insurer until eleven years later in 2016.

Brian T. Casey, Esq. - LOCKE LORD LLP, (404) 870-4638 , bcasey@lockelord.com

Category(s): Missouri - 01/29/2023

Missouri Department of Commerce and Insurance Director Chlora Lindley-Myers was elected NAIC President for the 2023 term as the first woman of color to hold this position. Members of the National Association of Insurance Commissioners (NAIC) elected officers for 2023 December 16, 2022, during the Fall 2022 National Meeting in Tampa, FL. Director Lindley-Meyers sent out through the MO DCI News Release her thoughts on being elected the 2023 NAIC President with the following quote: “I am excited to take on this challenge and yet humbled by the faith my fellow NAIC members have shown by electing me. While it’s taken over 150 years for the NAIC to have a woman of color leading the organization, I have high hopes that this first step will open the door to many qualified women of color to follow me. We have a great deal of work to do for our consumers. I am eager to work with my fellow Commissioners, Directors, and Superintendents to ensure that work is done well.”

Ann Monaco Warren, Esq. - INGLISH & MONACO, P.C., (573) 634-2522 , awarren@inglishmonaco.com