The Ticker

Competing proposals for workers compensation rate adjustments were heard in June, with WCIRB calling for a 3.4% increase to $1.50 per $100 of payroll and Bickmore actuary Mark Priven recommending a reduction to $1.34 per $100 of payroll, from the current $1.45. The rate will be chosen by Insurance Commissioner Ricardo Lara for a Sept. 1 effective date. >> Direct written premium for workers comp in the state fell 11.4% last year to $10.11 billion.

Gov. Ron DeSantis signs SB 76, which cuts the time to file an insurance claim to two years from three, permits insurers to depreciate the value of a roof aged 10 years or older, reduces multiplier fees for attorneys, bars public adjusters from offering incentives for roof inspections, and prohibits contractors from offering incentives to file claims. >> In workers comp cases, insurers must now resume sending injured workers informational brochures through the mail, a requirement that was suspended during COVID, permitting instead delivery via email or fax. >> Effective July 1, insurers will receive credit for reinsurance, and reinsurers won’t need additional collateral if domiciled in a reciprocal jurisdiction, among other requirements. Incorporates NAIC model reinsurance law changes.

Amy Beard promoted to insurance commissioner, succeeding Stephen Robertson, who left after 11 years in the post.

Signs Insurance Data Security Act, effective Jan. 1, 2022, based on NAIC model law.

Adopts Insurance Data Security Act, based on NAIC model law, effective Jan. 1, 2022.

Gov. Greg Gianforte signs HB 43, which permanently lifts telemedicine restrictions. The restrictions included having an established relationship between patient and provider for some kinds of services and geographic proximity. Those restrictions were temporarily lifted during the lockdowns. HB 43 also allows for audio-only services and requires public employee benefit plans and self-insured student health plans to adopt the telehealth measures.

Gov. Steve Sisolak signs law establishing public option for health insurance, the second U.S. state to do so. State-managed plans to be rolled out by 2026, using Las Vegas medical center as home. Insurers participating in state’s Medicaid and state employee plans will have to offer public option plan as well. In-network providers will be selected by state officials and must charge 5% less in premiums than average plan on state’s ACA market, dropping to 15% less within four years of initial participation. Washington was first state to offer public option.

Insurance Department publishes FAQs on self-funded, or self-insured, health plans in the state to help consumers understand denials, appeal rights and the appeals process.

Insurance Commissioner Mike Causey issued alert about using European lumber in construction projects, saying it isn’t to code, despite labeling, and could cause failures in walls, floors and roofs. All European wood for use in construction now requires special supporting documentation assuring project designs account for the imported wood’s characteristics as well as testing and evaluation for building code compliance. An engineering analysis and seal of compliance may be substituted in some cases.

Enacts drug pricing transparency law, HB 1032.