Insurance Compliance Insight

Here are THIS WEEK'S HEADLINES for February 24, 2025 : · Insurance Brokerage President and Marketing CEO Charged in $161.9M ACA Money Laundering and Fraud Scheme · NAIC Establishes New Risk-Based Capital Task Force to Enhance Regulatory Framework ·  Federal Merger Review Policy: Key 2025 Updates and Insurance Industry Implications ·  Pre-Need Insurance Fraud Uncovered in Ohio Enforcement Action ·  Insurance Representative Faces FINRA Sanctions for Insurance Application Forgeries ·  February 24, 2025, Guide to Insurance Regulations, Bulletins, and Legislation #insurancecompliance #insurancecomplianceinsight #insuranceinsights #insurance #compliance #compliancenews #compliancenewsletter #insuranceregulation #insurancebulletin #insurancelegislation #fincen #fincenalert #employeeretention #employeeretentioncredit #employeeretentioncreditfraud

California Insurance Commissioner demands answers from State Farm on emergency rate hike request. The company seeks increases up to 38% while holding $4.4B in reserves. Consumer Watchdog calls for public hearing under Prop 103. What's at stake for CA homeowners? Read our latest analysis on the brewing regulatory showdown. #InsuranceRegulation #CaliforniaInsurance #PropertyInsurance #RegulatoryCompliance #InsuranceNews #ConsumerProtection

Breaking: Major Health Insurer Hit with $3.4M Fine for Balance Billing Violations A new NC Department of Insurance market conduct examination reveals significant compliance failures at UnitedHealthcare, impacting patient access and costs. With $233K+ in identified member exposure and network adequacy issues across 37 counties, this case highlights critical regulatory oversight gaps in healthcare delivery. Are your compliance processes ready for similar scrutiny? Full analysis available at https://lnkd.in/eBs2z4Fc, including: - Detailed examination findings - Specific regulatory violations - Required corrective actions - Key compliance lessons #InsuranceCompliance #HealthcareRegulation #RiskManagement #Insurance

Attention Insurance Compliance Professionals: Does your company understand the strict fraud warning requirements under New York Insurance Regulation 95? Recent NYDFS market conduct examinations uncovered widespread violations at two Globe Life subsidiaries, underscoring the critical importance of detailed compliance frameworks and regular policy reviews. Don't let seemingly minor details lead to major regulatory issues. Read our latest article "Fraud Warning Violations Found in NYDFS Market Conduct Examinations of Globe Life Subsidiaries" for key takeaways and best practices to strengthen your compliance management program. Visit https://lnkd.in/eBs2z4Fc for the full article and subscribe for the latest insurance compliance news, analysis, and insights delivered straight to your inbox. #insurancecompliance #NYDFS #fraudwarnings #marketconductexams #chiefcomplianceofficer

Here are THIS WEEK'S HEADLINES for February 10, 2025 : · Pet Insurance Market Soars: Industry Set to Hit $4.5B Milestone Amid New Regulatory Framework ·  Arizona Couple Pleads Guilty in $1.2 Billion Medicare Fraud Scheme · U.S. Life Expectancy Lags Despite Highest Healthcare Spending · Role of NAIC in Insurance Regulation Questioned in Recent Commentary · February 10, 2025, Guide to Insurance Regulations, Bulletins, and Legislation #insurancecompliance #insurancecomplianceinsight #insuranceinsights #insurance #compliance #compliancenews #compliancenewsletter #insuranceregulation #insurancebulletin #insurancelegislation #fincen #fincenalert #employeeretention #employeeretentioncredit #employeeretentioncreditfraud

🔍 Breaking Regulatory News: FINRA Zeros in on Booming RILA Market Big changes are brewing in the annuity compliance landscape. FINRA's latest oversight report emphasizes growth of this market as RILA sales skyrocketed to $47.4B in 2023 - which they say is a 5X increase since 2017! This explosive growth is catching regulators' attention. Are your compliance procedures ready for heightened scrutiny? Key findings from FINRA include: • Inadequate supervision of exchange activities • Poor documentation of suitability determinations • Missing or incomplete data retention • Insufficient oversight of bounded return structures Don't get caught unprepared. Stay ahead of regulatory changes with Insurance Compliance Insight - your essential guide to navigating the complex world of insurance compliance. Subscribe now to receive: ✓ In-depth analysis of new regulations ✓ Best practices for strengthening your compliance program ✓ Expert guidance on implementing effective supervisory procedures ✓ Regular updates on emerging regulatory trends #InsuranceCompliance #FINRA #RegulatoryCompliance #Insurance #FinancialServices #RiskManagement #AnnuityCompliance

California DMHC levies $5M in penalties across three recent enforcement actions, highlighting key compliance risks for health plans. Systematic failures in grievance handling led to a $3.5M fine for Anthem, while operating without proper licensure cost Spring Health $1M. These cases reveal regulators' increasing focus on data-driven enforcement and escalating penalties for repeated violations. 🔍 Key findings: - 11,670+ late grievance letters - 370,000 members affected - Multiple enforcement actions showing pattern of non-compliance Stay ahead of regulatory enforcement trends with Insurance Compliance Insight. Our expert analysis helps compliance professionals navigate complex regulatory requirements and avoid costly penalties. Subscribe now to receive in-depth coverage of these enforcement actions and regular updates on emerging compliance risks: https://lnkd.in/eKpcN-pq #healthcareCompliance #insurance #riskManagement #healthcare #complianceOfficers

🚨 NY Court Limits Universal Life Damages based on COI changes Major NY Court of Appeals ruling impacts cost of insurance increases and available damages under consumer protection laws. Key compliance implications for carriers managing UL policies. Get the full analysis in Insurance Compliance Insight: - Policy language pitfalls - COI increase documentation requirements - New damages limitations - Actionable compliance steps #InsuranceCompliance #UniversalLife #RiskManagement 🔔 Subscribe to Insurance Compliance Insight for timely analysis of regulatory changes impacting your business.

Here are THIS WEEK'S HEADLINES for January 27, 2025 : · Annual Review: A Framework for Your 2025 Insurance Compliance Program Review · $20 Million Insurance Fraud Scheme Leads to Conviction and Demonstrates Vulnerabilities · CrossFit Medical Society Partners With CrowdHealth to Offer Insurance Alternative  · Updated: January 27, 2025 - Consolidated California Bulletins and Notices Related to Fires · January 27, 2025, Guide to Insurance Regulations, Bulletins, and Legislation  #insurancecompliance #insurancecomplianceinsight #insuranceinsights #insurance #compliance #compliancenews #compliancenewsletter #insuranceregulation #insurancebulletin #insurancelegislation #fincen #fincenalert #employeeretention #employeeretentioncredit #employeeretentioncreditfraud

California Takes Lead on AI Healthcare Review Requirements New requirements for insurers and health plans using AI and algorithms for utilization review take effect January 2025. SB 1120 creates first-in-nation standards for AI tools in healthcare decisions. Key points: - Specific AI tool requirements -AI cannot make medical necessity determinations - licensed professionals only - Clear review timeframes - Strong patient protection focus Find the full analysis, including compliance steps, at https://lnkd.in/eBs2z4Fc. Article includes implementation guidance for insurance regulatory requirements #InsuranceCompliance #HealthcareAI #RegulatoryCompliance #HealthInsurance #CaliforniaInsurance #ArtificialIntelligence #HealthcareTechnology Want to stay ahead of AI compliance requirements? Subscribe to Insurance Compliance Insight for expert analysis of emerging regulatory issues.