The Ticker

Gov. Sarah Huckabee Sanders signs SB199, which allows minors or their representatives to file medical malpractice suits against healthcare professionals who performed gender transition procedures on them, including prescribing medications to alter or remove anatomical sexual characteristics different from biological sex.

Requires Kemper Independence Insurance Company to issue more than $1.5 million in refunds to 2,400 of homeowners due to overcharging for wildfire cover based on wildfire risk scores and without Insurance Department approval. 

Insurance Department lobbies against SB 1037, which would allow self-storage companies to sell property insurance to tenants. Says it doesn’t require sellers of the policies to pass any exam, receive any education, or demonstrate any competency to get a license. Moreover, it would allow employees to sell policies under an employer’s license and requires no license at all if activity is confined to premium billing and collection, two operations normally requiring licensing. 

Gov. Ron DeSantis signs major insurance reform bill, HB 837, which amends state’s bad-faith law, clarifying that negligence per se doesn’t constitute bad faith by an insurer. Also allows insurers in multiple-claimant actions to avoid bad-faith liability by paying total policy coverage prior to settlement negotiations. Law also bars one-way attorney fees and fee multipliers for all lines of insurance. >> Citizens Property Insurance okays purchase of $400 million to $500 million in cat bonds from Lightning Re to garner three years of reinsurance for personal and commercial losses across Citizens’ three accounts. Bond trigger is $8 billion in Citizens losses. >> Recently departed commissioner David Altmaier hired as lobbyist at The Southern Group. Will head newly created national insurance advisory practice. Also named to Aspen Insurance’s board of directors.

Legislature passes HB 480, a bill to raise maximum workers comp benefits and max payouts to dependent spouses. Temporary partial disability max increases to $533 per week. Temporary total disability max rises to $800 per week. Surviving sole-dependent spouse total compensation cap moves to $320,000, with circumstantial stipulations. 

Jim Donelon announces he won’t seek reelection in November. He has served as insurance commissioner for 17 years. Says, at 78 years old, he’s ready to spend time with family. 

Repeals right-to-work law. Unions can now require all employees in a unionized workplace to pay union dues. 

Gov. Tate Reeves vetoes SB 2224, which would have allowed insurance commissioner to set health insurance rates. Also vetoes SB 2262, which tried to speed up prior authorization process, citing “unintended consequences,” problems with administrative hearings language, and increases in Medicaid costs. 

State workers compensation fund proposes 5% average rate reduction, to be effective July 1 for new and renewal policies. Awaits securities and insurance commissioner approval at press time. 

Attorney William Wallace named deputy commissioner on state’s Industrial Commission in Charlotte, where he will hear workers comp appeals not resolved in mediation. He previously headed North Carolina Bar Association’s workers comp section. >> Waynesville Fire Department, near the western border of the state, receives improved ISO rating, up to 4 from 9, for its ability to fight fires outside the town limits. Should improve property insurance premiums. >> Asheboro Fire/Rescue district, near Greensboro, moves to elite ISO rating of 1 (from 3), which is held by only 1.8% of the state’s 1,200 fire districts.