This MGA specializing in alternative risk transfer solutions appoints Lael Chappell as chief marketing and business development officer of Desq, USQRisk’s specialty accelerator platform. Chappell previously worked at Attune, which is now Coalition. >> Partners with Keystone Risk Partners, which manages Axsal Re group captive for midsize fleets, to offer new group captive facility for excess auto liability for companies with midsize fleets. USQRisk’s underwriting and structuring teams will provide expertise and support, while Keystone Risk focuses on captive management and distribution.
State Supreme Court rules awards from Workers Compensation Appeals Commission can include attorneys fees.
Mental health parity and addiction equity rules for insurance took effect Sept. 4.
Gov. Gavin Newsom signs law allowing insurance licensees to provide licensed cannabis operations with coverage and services. >> Newsom signs SB 216, requiring concrete, heating/AC, and tree service contractors to carry workers comp even if they don’t have employees, effective July 1, 2023. Suspension of license is penalty for non-compliance. As of Jan. 1, 2026, all contractors will have to comply.
National Council on Compensation Insurance proposes 3% average decrease in workers comp rate for voluntary market: 0.7% for miscellaneous, 5.3% for office and clerical, 4.6% for contracting, 2.8% for goods and services, and 2.5% for manufacturing—all decreases—effective Jan. 1. No change recommended for assigned risk market.
Receives requested waiver from National Flood Insurance Program to grant policyholders access to some upfront claims dollars before going through full claim process and without having an adjuster sign off. The program requires policyholders to provide photographic evidence of losses from Hurricane Ian and proof of incurred out-of-pocket expenses related to repair or replacement of NFIP insured property.
Approves 10.3% decrease in average workers comp rates, effective Jan. 1.
Launches MarylandSaves, a paycheck-deduction savings program for small businesses and their employees. Accounts are portable. The accounts are Roth IRAs, and participants choose from multiple investment options, though the automatic program puts $1,000 in an emergency savings fund, with the rest going into a target-date fund. Employers may auto-enroll employees, who may choose to opt out. Program administered by institutional money managers, like BlackRock and T. Rowe Price.
Approves workers comp rate decrease of 6.8% for assigned risk pool.
As of Nov. 1, customer service reps and insurance consultants licensed in the state must be licensed as insurance producers, hewing to SB 1252, which amended the Producer Licensing Act to remove CSRs and consultants as license types. State Based Systems converted those affected to “insurance producer” status on Nov. 1. Those renewing licenses must complete 24 hours of biennial education. Insurance producer biennial license fee is $60.
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