Insurance Regulation Archive

A Message from Aubie

People often ask me about my outlook for the insurance industry and the independent agency system.  Whether you see the expression “may you live in interesting times,” as a blessing or a curse, there seems to be little doubt that we do indeed live in interesting times. As one looks to the short-term future (three

Concurrent Causation Revisited

A recent ruling by the Florida Supreme Courts (FSC) is creating a stir in Florida insurance markets and may have national repercussions.  In December of 2016 the FSC handed down its review of a decision by the Second District Court of Appeals (DCA) in American Home Assurance Co. v. Sebo (141 So. 3d 195 (Fla.

Some Workers’ Compensation Relief – HB765 Signed Into Law

An omnibus regulatory reform bill (HB 765) was signed into law by Governor McCrory on Oct. 22, 2015 and is now effective.  It contains a provision which addresses a problem with workers’ compensation that has emerged over the last couple of years. The existing provision of the Workers’ Compensation Act of North Carolina (the Act)

Some Workers’ Compensation Relief: HB765

An omnibus regulatory reform bill (HB 765) has been ratified and sent to the Governor for signature.  The bill becomes effective upon becoming law.  It contains a provision which addresses a problem with workers’ compensation that has emerged over the last couple of years.  The existing provision of the Workers’ Compensation Act of North Carolina

Does Every Business Owner Need to Be an Attorney? Who or What is an “Employee?”

Historically, most business owners understood that someone working for them was an “employee.” Further, “independent contractors” were infrequently used by the average business. However, times have changed. Administrative, benefit and regulatory costs related to employees have increased, leading business owners to search for ways to moderate these costs. Using workers who are not called “employees”

Agents’ Update on TNC (“Uber”) Insurance Issues

TNC stands for “Transportation Network Company,” aka Uber, Lyft, etc.  Agents who are struggling to help their clients understand the TNC type of auto insurance exposures need to have a clear grasp of the issues.  One concept that is beginning to firm up is the three different periods involved with operating under a TNC contract:

Funds Transfer Coverage: What Happened to Our Money?

Funds Transfer (FT) coverage has been an optional coverage under the Commercial Crime Form for a number of years.  In the last few years, FT coverage has been combined with the older Computer Fraud coverage option into a single optional coverage.  Given the ever-increasing use of electronic transfer of money and the ever-increasing dangers in

Auto Rate Modernization – Is There a Problem??

Some agents have asked us why IIANC is supporting Auto Rate Modernization, and specifically House Bill 265, when there doesn’t seem to be a problem. Good question. We’ll give in on the first issue. If your agency writes nothing but non-standard auto policies, then you probably have a right to question your Association’s support of HB

North Carolina’s Archaic Insurance Rate System Unique in U.S.

Guest post from IIANC Chairman of the Board David Purinai, AAI, CIC, CRM. David’s opinion piece was originally printed in the Rocky Mount Telegram on 3/9/13. _____________________________________________________________________ Which is less expensive? One scoop of ice cream for a dollar or two scoops at $1.50? If you listen to some of the voices in Raleigh who

Court Case Making Waves in Workers’ Comp Markets

A recent court case from the North Carolina Court of Appeals, Gonzalez v. Worrell, et. al., that was issued in late June of this year is already making waves in the workers’ compensation markets.  There are two issues addressed in this case that are covered in two respective white papers dealing with general contractor/subcontractors and