Weekly snippets from the Insurance Compliance Insight (ICI) Newsletter. A weekly subscription service published by an insurance compliance professional for insurance compliance professionals! New Federal Rule: The FTC Ban on Noncompete Clauses The Federal Trade Commission (FTC) issued a new rule (16 CFR Part 910) that declares noncompete clauses, a staple of many employment contracts, as an anticompetitive and unfair method of competition practice… ↓ READ MORE ↓ ICI Member LOG IN or SUBSCRIBE today! ICI Compliance Tip: Tackle the DOL Fiduciary Rule With a Constructional Approach The publicatio ..read more

Weekly snippets from the Insurance Compliance Insight (ICI) Newsletter. A weekly subscription service published by an insurance compliance professional for insurance compliance professionals! Elder Financial Exploitation: FinCEN Reports Over 150,000 SAR Filings The US Department of the Treasury Financial Crimes Enforcement Network (FinCEN) announced the issuance of a Financial Trend Analysis on April 18, 2024, looking at patterns and trends identified in Bank Secrecy Act (BSA) data linked to elder financial exploitation (EFE)… ↓ READ MORE ↓ ICI Member LOG IN or SUBSCRIBE today! KFF Study Revea ..read more

Weekly snippets from the Insurance Compliance Insight (ICI) Newsletter. A weekly subscription service published by an insurance compliance professional for insurance compliance professionals! First Cyber Compliance Certifications Required by New York Department of Finance The first compliance certifications under the New York State Department of Financial Services (DFS) are due today April 15, 2024… ↓ READ MORE ↓ ICI Member LOG IN or SUBSCRIBE today! Vermont Revokes TPA license for Failure to File Annual Report ClaimChoice Administrators, LLC (“ClaimChoice” or “Company”) is a nonresident third ..read more

Weekly snippets from the Insurance Compliance Insight (ICI) Newsletter. A weekly subscription service published by an insurance compliance professional for insurance compliance professionals! FTC Strengthens Fraud Protection: New Rule Bans Government Impersonation Scams, Puts Individuals First The Federal Trade Commission (FTC or Commission) released data showing that consumer fraud reached the $10 billion mark for the first time in 2023… ↓ READ MORE ↓ ICI Member LOG IN or SUBSCRIBE today! Peterson-KFF Data Show Changes in Health Sector Employment and Billing Practices A March 27, 2024, articl ..read more

Weekly snippets from the Insurance Compliance Insight (ICI) Newsletter. A weekly subscription service published by an insurance compliance professional for insurance compliance professionals! Final Tri-Agency Rule: Supplemental Insurance Survives, Limited Duration Policies Are Capped at Four Months The so-called “Tri-Agency Rule” was crafted through a collaborative effort between three key regulatory bodies—the Department of Health and Human Services (HHS), the Department of Labor (DOL), and the Department of the Treasury (Treasury)… ↓ READ MORE ↓ ICI Member LOG IN or SUBSCRIBE today! National ..read more

Weekly snippets from the Insurance Compliance Insight (ICI) Newsletter. A weekly subscription service published by an insurance compliance professional for insurance compliance professionals! SOA Reports on Research into Pharmacy Financing and the Cost of Care Society of Actuaries (SOA) Research Institute has recently completed its pharmacy financing study.… ↓ READ MORE ↓ ICI Member LOG IN or SUBSCRIBE today! California Sustainable Insurance Strategy Enters Next Phase: Catastrophe Modeling Regulation Proposal Released With support from trade associations and criticism from consumer groups, the ..read more

Weekly snippets from the Insurance Compliance Insight (ICI) Newsletter. A weekly subscription service published by an insurance compliance professional for insurance compliance professionals! Washington Fines New York Life on LTC Agent Training Failures In a Press Release dated March 4, 2024, Washington state Insurance Commissioner Mike Kreidler announced a Consent Order entered with New York Life (NYL or Company). … ↓ READ MORE ↓ ICI Member LOG IN or SUBSCRIBE today! SEC Issues Final Rule on Investor Disclosures on Climate The SEC has adopted a final rule that, when effective, will require re ..read more

Weekly snippets from the Insurance Compliance Insight (ICI) Newsletter. A weekly subscription service published by an insurance compliance professional for insurance compliance professionals! False Sense of Urgency: New Hampshire Acts Against Home Warranty Provider Mother’s Day is around the corner, and many of us will be inundated with marketing telling us we need to act quickly to secure the perfect gift for the moms in our lives. In a 2023 blog post, titled “How to Create a Sense of Urgency” a marketing company called “UpViral” defines Urgency in Marketing as … ↓ READ MORE ↓ ICI Member LOG ..read more

Weekly snippets from the Insurance Compliance Insight (ICI) Newsletter. A weekly subscription service published by an insurance compliance professional for insurance compliance professionals! From the Publisher’s Desk - Standard of Care: One Compliance Professional's Opinion In this edition, there is a lot of news about “Standard of Care Issues.” We cover the passage by the California legislature of a law that is generally consistent with the NAIC’s Updated Suitability in Annuity Transactions Model 275, commonly called the “Best Interest” regulation due to its disclosure standards and approach ..read more

Weekly snippets from the Insurance Compliance Insight (ICI) Newsletter. A weekly subscription service published by an insurance compliance professional for insurance compliance professionals! FinCEN seeks to vastly expand advisors’ AML investment responsibilities On February 15, 2024, the Financial Crimes Enforcement Network (FinCEN) published its proposed rule related to “Anti-Money Laundering/Countering the Financing of Terrorism Program and Suspicious Activity Report Filing Requirements for Registered Investment Advisers and Exempt Reporting Advisers.”… ↓ READ MORE ↓ ICI Member LOG IN or SU ..read more