Insurance Compliance

Commissioner Causey Urges Storm Preparedness Across North Carolina

Insurance Commissioner Mike Causey of the North Carolina Department of Insurance issued a public advisory on March 16, 2026, urging all North Carolina residents to prepare for severe thunderstorms and tornadoes threatening the state, with a Level 4 (of 5) risk designation in the central region — the highest in years according to NOAA. The advisory includes practical preparedness recommendations such as monitoring local weather, securing outdoor items, documenting home belongings, and seeking appropriate shelter. The DOI has directed residents to its disaster preparedness resources for additional guidance.

Two Winston-Salem Women Charged with Insurance Fraud, Forgery

Arshana Aisha Young, 27, and Vernell Patricia Wagner, 57, both of Winston-Salem, were charged with insurance fraud and related felonies by the N.C. Department of Insurance Criminal Investigations Division. Young allegedly falsely claimed she was operating Wagner's Mercedes and was injured in a November 3, 2025 automobile collision, forging a DMV collision report in an attempt to obtain an insurance payment from Integon Indemnity Corp. Wagner allegedly assisted by confirming Young was operating her vehicle. Winston-Salem police arrested Young on March 13 (bond: $10,000 secured) and Wagner on March 14 (bond: $5,000 unsecured).

Missouri Department of Commerce and Insurance Warns of Growing Insurance Market Strain from Lawsuit Abuse

The Missouri Department of Commerce and Insurance issued a report warning that lawsuit abuse is driving up insurance costs across the state, with social inflation increasing at 5.4% annually from 2017-2022 compared to 3.7% for economic inflation. The Perryman Group estimates excessive litigation results in a $1,216 tort tax per Missourian, contributing to $7.6 billion in lost economic output and $384 million in lost state revenue annually. Without meaningful legal reforms, Missourians and businesses will continue to face higher premiums, fewer insurance options, and broader economic consequences.

Temple Finalizes Auto Insurance Rate Decreases for Imperial Fire and Allstate North American

Commissioner Tim Temple finalized filings from Imperial Fire & Casualty Insurance Company (IFAC) and Allstate North American Insurance Company (ANAIC) for rate decreases on private passenger auto insurance in Louisiana. IFAC received a 6% decrease on its Value Product covering over 41,000 policies, building on a prior 5% reduction in 2025 to total an 11% decrease over six months. ANAIC received a 7.5% decrease affecting over 17,000 policies, building on a prior 7.6% decrease to total over 15% since November 2025. Both companies are Allstate subsidiaries. IFAC's changes take effect January 15, 2026 for new business and February 20, 2026 for renewals; ANAIC's change takes effect April 9 for new and renewal business.

Policyholder Guidance for Storm Damage Claims in Louisiana

The Louisiana Department of Insurance (LDI) issued guidance on March 13, 2026, advising residents of Tangipahoa Parish and surrounding areas affected by Wednesday's tornadoes and severe storms on filing insurance claims for property damage. The guidance provides practical steps including contacting insurers first with policy numbers, documenting damage with photos and videos before cleanup, and mitigating further damage with temporary protective measures. LDI also warned policyholders about scam attempts by unlicensed contractors, fake disaster donation solicitations, and false state or federal aid offers.

LDI Partners with NICB and 4WARN to Combat Third-Party Litigation Funding Marketing Tactics

The Louisiana Department of Insurance announced a partnership with the National Insurance Crime Bureau and digital intelligence company 4WARN to warn consumers about third-party litigation funding entities that use misleading digital tactics to steer policyholders into unnecessary litigation. According to cited research, these misleading websites drew 27.8 million clicks in June 2025, with TPLF opportunists spending an estimated $380 million on paid online search ads from June 2024 to June 2025. The partnership creates a consumer protection system to shield Louisiana insurance consumers from predatory digital marketing.

Georgia Insurance Commissioner Urges Smoke Alarm Checks

Insurance and Safety Fire Commissioner John F. King has reminded Georgia households to check their smoke alarms as Daylight Saving Time ends, recommending battery replacement twice yearly and monthly testing of all alarms. The advisory notes that investigators have found smoke alarms disconnected, missing batteries, or non-functional in many home fire fatalities. Commissioner King encouraged Georgians to understand their alarm type, including sealed 10-year battery models, and to develop a home fire escape plan.

State Farm Announces $5 Billion Auto Policyholder Dividend for Georgia Drivers

State Farm Mutual Automobile Insurance Company announced a $5 billion dividend for auto policyholders nationwide on February 26, 2026, the largest in company history. Georgia policyholders with a Private Passenger Auto (PPA) Voluntary Preferred policy in force as of December 31, 2025, will receive an 8% return on premium earned, totaling nearly $279 million statewide, representing an average dividend of approximately $135 per vehicle. The announcement follows major lawsuit reform in Georgia and is in addition to State Farm's estimated $400 million in annual rate decreases for Georgia families.

Modernising the Liquidity Policy Framework for Banks and Building Societies

The Prudential Regulation Authority (PRA) has published Consultation Paper CP5/26 setting out proposals to modernise the UK prudential liquidity framework. The consultation focuses on targeted changes to Pillar 2 through Internal Liquidity Adequacy Assessment (ILAA) rules and supervisory expectations, including strengthened internal stress testing approaches and enhanced operational readiness for liquidity shocks. Responses are requested by Wednesday 17 June 2026. The proposals apply to PRA-authorised UK banks, building societies, PRA-designated UK investment firms, and their qualifying parent undertakings, but do not apply to credit unions.

Slide Insurance Company Approved to Assume Up to 30,000 Citizens Policies

The Florida Office of Insurance Regulation has issued a Consent Order approving Slide Insurance Company's proposal to assume up to 30,000 personal residential multi-peril policies from Citizens Property Insurance Corporation. The policy assumptions are scheduled to occur in two batches: approximately June 16, 2026 (up to 15,000 policies) and August 18, 2026 (up to 15,000 policies). The Order imposes specific conditions including a 40% premium cap above Citizens renewal rates, requirements for comparable coverage without mandatory endorsements, and advance written approval for any additional assumptions.

One Alliance North America Insurance Consent Order 2026-23

The Florida Office of Insurance Regulation issued Consent Order OIR 2026-23 approving One Alliance North America Insurance Company's proposal to assume up to 10,000 personal residential multi-peril policies from Citizens Property Insurance Corporation. The assumption will occur in three phases on June 16, August 18, and September 15, 2026. The order imposes conditions including comparable coverage requirements, a 40% cap on premium increases above Citizens renewal rates, and advance written approval for additional assumptions. One Alliance North America waived its right to hearing and appeal.

Sypher Insurance Exchange Consent Order for Florida Domestic Reciprocal Insurer Permit

The Florida Office of Insurance Regulation issued Consent Order OIR 2026-18 granting Sypher Insurance Exchange a permit to form a Florida domestic reciprocal insurer through its attorney-in-fact, Sypher Risk Management, LLC, a Florida LLC wholly owned by Sypher, Inc. The approved lines of insurance include Fire, Allied Lines, Homeowners Multi-Peril, Inland Marine, Other Liability, and Boiler and Machinery. The order conditions the permit on the applicants submitting proof of required statutory deposits—$300,000 and $100,000 USD with the Bureau of Collateral Management, and initial capital funding in a Florida Federal Reserve member bank—within sixty days of execution, along with a written bank certification confirming the deposit is unencumbered. If any individual disclosed in the application is found unacceptable under the Florida Insurance Code, the applicants must remove that person within thirty days of notice from the OIR or face administrative action and potential denial of the Certificate of Authority.

Manatee Insurance Exchange Consent Order Assumes Citizens Policies

The Florida Office of Insurance Regulation issued Consent Order OIR 2026-21 authorizing Manatee Insurance Exchange to assume up to 100,000 selected personal lines policies from Citizens Property Insurance Corporation, comprising 88,000 personal residential multi-peril and 12,000 personal residential wind-only policies. The assumption periods are scheduled for June 16, August 18, and September 15, 2026, with each period limited to 50% of total approved policies. The order requires comparable coverage and prohibits take-out offers exceeding 40% above the policyholder's estimated Citizens renewal premium, and all policyholder communications must receive OIR approval prior to mailing.

Southern Oak Insurance Company Consent Order for Policy Assumption

The Florida Office of Insurance Regulation issued Consent Order OIR 2026-19 approving Southern Oak Insurance Company's proposal to assume up to 50,000 selected personal lines policies from Citizens Property Insurance Corporation, with assumptions planned for June 16, August 18, and September 15, 2026. The order establishes conditions including a requirement that coverage offered by Southern Oak must be "comparable coverage" without reliance on optional endorsements, and that take-out offers to policyholders cannot exceed 40% above the estimated renewal premium with Citizens.

IVASS Warns of Counterfeit Road Carrier Liability Insurance Policy Attributed to SIAT

IVASS has issued a consumer alert warning that a counterfeit road carrier civil liability and goods damage insurance policy has been found in circulation, falsely attributed to SIAT Società Italiana Assicurazioni e Riassicurazioni per Azioni. The legitimate insurer has disavowed the fraudulent policy. IVASS advises consumers to verify that insurance quotes and contracts are issued by properly authorized companies and intermediaries before making premium payments, and provides a list of official verification resources including the RUI registry, lists of authorized companies, and warnings about unauthorized entities.

Prudential Authority Confirms Status of Previously Issued Bank Circulars

The South African Reserve Bank Prudential Authority (PA) issued Circular C1-2026 on 9 March 2026, confirming the status of previously issued circulars to banks, controlling companies, eligible institutions, and auditors. The PA will annually confirm which circulars remain effective, providing regulated entities with clarity on applicable requirements. Directives issued under section 6(6) of the Banks Act, 1990 (Act No. 94 of 1990) remain in effect until formally withdrawn in writing by the PA, contrary to the annual confirmation process applied to circulars.

Proposed Directive on Bank Reporting Requirements (Regulation 46)

The South African Reserve Bank Prudential Authority has published for public consultation a proposed directive specifying the Banks Act returns that must be audited, reviewed, or concluded upon under a limited assurance framework, in partial fulfilment of auditors' reporting obligations under regulation 46 of the Regulations relating to Banks. Banks and their external auditors will be directly affected by these new reporting requirements once the directive is finalized and enacted. The consultation period closes on a date to be confirmed, with the proposed directive available as an attachment on the SARB website.

Guidance Note 1 of 2026 - Status of Previously Issued Guidance Notes

The South African Reserve Bank Prudential Authority published Guidance Note 1 of 2026 on 9 March 2026, providing an annual status notification to banks, controlling companies, and auditors regarding which previously issued guidance notes remain effective. This notification follows the process established under Guidance Note 1/2008 dated 7 May 2008, which set out that the first guidance note of each year would inform regulated institutions which guidance notes remain in force for the ensuing year. The full list of effective guidance notes is attached to this notification as a PDF.

Proposed Directive on Internal Liquidity Adequacy Assessment Process

The South African Reserve Bank Prudential Authority has published a proposed directive relating to the Internal Liquidity Adequacy Assessment Process (ILAAP) for public consultation. The ILAAP is underpinned by the Principles for Sound Liquidity Risk Management and Supervision issued by the Basel Committee on Banking Supervision. This consultation closes on the date specified in the full document, with submissions to be made to the Prudential Authority.

Insurance Authority Circulars and Guidelines Introduction

The Insurance Authority has published an introduction to its circulars and guidelines. These documents are intended to remind industry participants of regulatory requirements and assist in understanding regulatory issues.

Hong Kong Insurance Authority Guidelines Index

The Insurance Authority of Hong Kong (HK IA) maintains a comprehensive index of its published guidelines (GL1 through GL34+) covering anti-money laundering, fit and proper criteria, corporate governance, cybersecurity, enterprise risk management, and other regulatory areas. Some guidelines have been repealed or replaced (e.g., GL1 superseded by GL5, GL2 and GL7 repealed effective 1 July 2024), while others carry forward-looking effective dates such as GL16 and GL34, both effective 31 March 2026. The index serves as a centralised reference for authorized insurers and licensed insurance intermediaries to identify applicable regulatory standards and associated interpretive materials.

Insurance Authority Consultation Documents and Draft Rules

The HK Insurance Authority maintains an index of consultation documents on insurance regulation covering risk-based capital regime, insurance intermediaries, group-wide supervision framework, special purpose business, and policyholder protection schemes dating from 2011 to 2026. The most recent item is the 11 February 2026 Consultation Paper on Draft Insurance (Valuation and Capital) (Amendment) Rules 2026. Prior consultations on valuation and capital rules, public disclosure requirements, intermediary codes of conduct, and group capital rules have reached conclusion stages.

IVASS Orders Blocking of 3 Abusive Insurance Websites

IVASS has ordered the blocking of three websites offering unauthorized insurance services: www.phenixinsurancebroker.it, www.lauriomotori.com (including lauriomotori.com), and faraoni.assicurazioneroma.it. The blocking activities are being carried out by Italian internet service providers and may take several days to fully implement due to technical reasons. This action brings the total number of abusive websites blocked by IVASS since November 2023 to 352.

IVASS Orders Blocking of Abusive Insurance Website www.preventivi.agenziavirtualedas.com

IVASS ordered the blocking of www.preventivi.agenziavirtualedas.com and preventivi.agenziavirtualedas.com for offering insurance services without authorization. This brings the total number of abusive websites blocked to 349 since November 2023, when IVASS began exercising its website-blocking authority. The regulator has issued consumer warnings to be wary of insurance purchase proposals made via instant messaging apps such as WhatsApp or prepaid credit card payments.

DB Insurance Acquisition of South Bay Acceptance Corporation Consent Order

The Florida Office of Insurance Regulation issued a consent order approving the indirect acquisition of 100% of the voting securities of South Bay Acceptance Corporation by DB Insurance Co., Ltd., a South Korean insurance conglomerate. South Bay operates in Florida as a Premium Finance Company. The order imposes conditions including completion of the transaction within 120 days, submission of closing documents within ten business days of completion, and a 30-day removal requirement for any person found unacceptable under the Florida Insurance Code. The approval is subject to the parties obtaining any other requisite regulatory approvals.

EIOPA Seeks Technical Advice on Taxonomy Regulation Article 8

EIOPA published a Call for Targeted Advice to the European Supervisory Authorities (ESAs) regarding Article 8 of the Taxonomy Regulation on 5 March 2026. The consultation document (dated 17 February 2026, PDF, 527.17 KB) is available for download from the EIOPA website. The deadline for submissions is 6 March 2026. This consultation seeks technical input on the implementation of the EU Taxonomy Regulation's disclosure requirements, which apply to financial market participants offering insurance and investment products with environmental sustainability characteristics.

PS5/26 – Credit Union Service Organisations Final Policy

The PRA has published final policy PS5/26 permitting PRA-authorised credit unions to invest in Credit Union Service Organisations (CUSOs), with the investment cap raised from 5% to 7.5% of capital. CUSOs may now serve other UK-regulated mutuals with Part 4A permission and may be co-owned with non-credit union partners, subject to new safeguards including due diligence and conflict-of-interest expectations. The PRA Rulebook amendments take effect on 20 February 2026, while the new Chapter 18 of SS2/23 (Supervising credit unions) takes effect on 20 August 2026.

CP4/26 – UK Solvency II Own Funds: Updates and Fixes to Rules and Expectations

The PRA proposes four targeted amendments to UK Solvency II own funds rules: (1) removing the s138BA permission requirement for equity-accounted subordinated instruments to be classified into own funds tiers, instead adding them directly to the lists of known items; (2) clarifying expectations on the compliant sequencing of concurrent tender offers and new issuances for refinancing capital instruments; (3) correcting historical inconsistencies and drafting errors in the Own Funds Part of the PRA Rulebook; and (4) restating remaining EIOPA guidelines on classification of own funds and ancillary own funds into PRA supervisory statements (SS2/15 and SS3/15). The consultation closes on 24 April 2026, with implementation proposed for year-end 2026 reporting and 2026 H2 policy statement publication.

Policy statement on recognised exchanges and transfer of main indices

Policy statement on recognised exchanges and transfer of main indices

PRA Statement on 2028 Life Insurance Stress Test

The PRA has announced its intent to launch the next Life Insurance Stress Test (LIST) exercise in January 2028, building on the approach used in LIST 2025 under Solvency UK. During 2026, the PRA will engage with participating firms and wider users of stress testing disclosures to gather feedback and inform the design and set-up of the 2028 exercise. The PRA expects to provide further details in Q4 2026, including confirmation of any changes to scope or methodology and which firms are likely to be in scope.

PRA Regulatory Digest – February 2026

The PRA Regulatory Digest for February 2026 summarizes key publications released by the Prudential Regulation Authority during the month, including four consultation papers and one policy statement. The most operationally significant is CP4/26 proposing restatement of EIOPA guidelines on own funds classification into UK supervisory statements, which affects UK insurers subject to Solvency II requirements. The Digest also flags an update to Branch Return data item BRT001 effective 1 March 2026, and provides early notice that the next Life Insurance Stress Test will launch in January 2028.

Citizens Property Insurance Corporation Rate Filings Final Order

The Florida Office of Insurance Regulation has issued Final Order No. 2026-14 establishing new rates for Citizens Property Insurance Corporation across 14 separate rate filings spanning personal and commercial property programs. The order modifies rates for homeowners multi-peril (est. -8.8%), wind-only (est. -5.1%), dwelling fire, mobile homeowners, and commercial property programs, with an effective date of June 1, 2026 for new and renewal business. Citizens must submit final manual pages and Rate Collection System revisions within 30 days of the order date.

Pennsylvania Insurance Department Overview

The Pennsylvania Insurance Department provides an overview of its mission to protect consumers, license insurance professionals and companies, and regulate the insurance marketplace. The page highlights key services and programs, including assistance with health plan denials, surprise medical bills, and mental health parity.

Pennsylvania Insurance Department Filings, Reports, and Orders

The Pennsylvania Insurance Department has posted a webpage detailing various filings, reports, and company orders available to the public. This notice serves as a central point of access for consumers, producers, and companies seeking regulatory information and services.

Pennsylvania Implements Pharmacy Benefit Reform Act

The Pennsylvania Insurance Department has implemented the Pharmacy Benefit Reform Act (Act 77). This act introduces new regulations aimed at reforming pharmacy benefits within the state's insurance market. The specific details of the implementation and its impact on stakeholders are outlined in the department's resources.

Pennsylvania Insurance Department Regulatory Updates and Consumer Protection

The Pennsylvania Insurance Department has updated its website to provide information on consumer protection, licensing, and regulation. The page offers quick links for consumers, producers, and companies, along with details on popular programs and services.

Pennsylvania Insurance Department - No Surprises Act Information

The Pennsylvania Insurance Department provides information regarding the No Surprises Act, offering consumers resources to submit review requests for unexpected medical bills and understand their rights regarding surprise medical billing.