Former economic advisor to President Obama to become New York’s top financial and insurance regulator. New York State Governor Kathy Hochul announced that Adrienne Harris has been nominated to lead the New York State Department of Financial Services as its next Superintendent. Formerly a top economic advisor to President Obama, Ms. Harris will become the […]
AASP/NJ to Host Virtual Discussion March 18 on Understanding the Division of Insurance
The Alliance of Automotive Service Providers of New Jersey (AASP/NJ) will host a virtual meeting, Understanding the Role of the Division of Insurance, on Thursday, March 18 at 6:30 p.m. via Zoom. AASP/NJ welcomes attorney Patrick J. McGuire, Esq., who will discuss how the Division of Insurance (DOI) can impact issues between consumers, repair facilities […]
New York Department of Financial Services Fines Allstate, State Farm, AIG, and Tri-State Insurance Companies $2.1 Million
Allstate and State Farm also pay $10.6 million in restitution to consumers. New York State Superintendent of Financial Services Linda A. Lacewell announced that the Department of Financial Services (DFS) has fined Allstate Insurance Group, State Farm Insurance Group, AIG Property Casualty Company, and Tri-State Consumer Insurance Company a combined $2.1 million for violations of […]
California Towing Company Owners Alleged Part of Insurance Fraud Scheme
Towing company owners Bandar “Charlie” Albadawi, 57, and Sleiman “Slim” Zeinaty, 59, along with their employee Shelley Blowers, 50, were arrested on multiple felony counts of insurance fraud and filing false documents after allegedly altering tow records to further a client’s false insurance claim. Albadawi and Zeinaty are co-owners of All Desert Towing, a commercial […]
Jose Hermida Named Leader of New SCA Appraisal Department of Insurance Re-inspection Unit
In response to the growing demand of insurance carrier clients for Department of Insurance (DOI) re-inspections and regulatory compliance, SCA Appraisal has launched a newly-formed DOI Customer Success Unit (DOI-CSU). Jose Hermida, who has been servicing SCA clients for over 20 years, will be leading the new DOI- CSU program. “The regulatory environment in some […]
Veterans in Texas Can Now Be Reimbursed for Insurance Exam Fees
Veterans who passed any Texas insurance exam since early 2019 can now get reimbursed for the fee and military spouses licensed out-of-state will have fees waived. “We’re grateful to Veterans Affairs for approving our request,” said Insurance Commissioner Kent Sullivan. “This is a small way to honor those who have served our country, and we’re […]
Rhode Island Reinstitutes Requirements for Physical Inspection of Collision Repair Claims Following Reopening
Insurance regulator will resume enforcement of regulations requiring physical inspections on claims over $2500. The Rhode Island Department of Business Regulation Insurance Division announced it will resume enforcement of physical inspection requirements that had been paused in March due to the coronavirus pandemic. On July 1, the Division updated its Bulletin Number 2020-2 that had […]
PA Insurance Department Announces Remote Testing Option for Exam Candidates
Pennsylvania Insurance Commissioner Jessica Altman today announced the availability of a remote testing option for insurance license exams including the Motor Vehicle Physical Damage Appraiser license beginning July 1. To be licensed as an appraiser for the first time, a candidate must pass an exam in addition to other requirements. Many collision repair facilities, particularly […]
Vermont Insurance Division Bulletin Cautions Insurers that Consumers Can Request Physical Inspections versus Virtual Claims Systems
The Vermont Department of Financial Regulation Division of Insurance issued its Insurance Bulletin No. 206 titled Virtual Adjustment of Vehicle Partial And Total Loss Claims that clarifies that insurance companies must provide an in-person inspection by a licensed adjuster within a reasonable period of time if requested by a claimant. According to the bulletin, the […]
Massachusetts Auto Lender Alleges CCC Understates Total Loss Values
Boston news radio station reports allegations of systemic low valuations on total losses. Repair association hopes Division of Insurance examines shop and insurer estimating platforms. According to a report by Boston radio station WBUR, the Massachusetts Division of Insurance is investigating allegations by Source One Financial Corp., a Norwell, Mass. auto lender that CCC Information […]