Compliance News 03-2007
by Rose M. Leiter
March 2007

California has revised its standards for credit life and credit disability forms. See Regulation T. 10 s 2249.6.

Florida has amended rules which were effective November 2, 2006. See Rules 69O-149.005, 69O-149.006, 69O-149.007, 69O-154.203, and 69O-154.204.

Maryland has issued Bulletin 06-20 outlining the new process for filing the Credit Insurance Statistical (Experience) Reports. Annual reminder notices will no longer be sent.

Maine has issued new rule amendments. See Rules Chapter 130, Chapter 340, Chapter 542, Chapter 780.

Nevada has revised its filing procedures which became effective December 1, 2006. See Bulletin 06-009.

Ohio has reduced their prima facie credit disability rates by 11.3%. The new rates will be effective February 1, 2007. The prima facie credit life rates have not changed.

Virginia has adopted new prima facie rates for credit life and credit disability for the year 2007. See the Bureau’s Administrative Letter 06-13.

Wisconsin has issued a bulletin regarding Disclosure of Creditable Coverage Status for insurers writing Medigap policies in Wisconsin. The bulletin can be viewed at http://oci.wi.gov/bulletin/1006crcov.htm.

Wisconsin now has available on its website a lookup feature for policy form and rate filings.

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