We are pleased to present the first edition of what will be a quarterly report covering key regulatory issues facing the insurance industry.
02.07.2020 AFFINITY INSURANCE BROKERAGE: A PRIMER ON COMPENSATION TO UNLICENSED PARTIES
Affinity insurance brokerage, a sales model whereby an insurance producer gains access to potential insureds through a sponsoring organization, typically an unlicensed entity, is nothing new.
02.18.2020 Five Things You need to Know About New Jersey's Surprise Medical Bill Law
In June 2018 Governor Murphy signed into law the Out-of-network Consumer Protection, Transparency, Cost Containment and Accountability Act which took effect August 30, 2018.
02.18.2020 Lockton Affinity – NJDOBI Consent Order Highlights Affinity Marketing Risk
As set forth in our opening article, Affinity Brokerage relationship can present regulatory risk. On September 5, 2019, the State of New Jersey, Department of Banking and Insurance entered a Consent Order in the Matter of Proceedings by the Commissioner of Banking and Insurance, State of New Jersey, to fine Lockton Affinity, LLC, Reference No. 9026721.
Launch of MEWA Association of America
Genova Burns is pleased to announce that our colleague, Bill Megna, moderated the 1st Annual Meeting of the MEWA Association of America. The meeting, held in Austin, Texas on December 9, 2019, marked the launch of this trade association dedicated to the advancement of the Multi-Employer Welfare Arrangement (MEWA) industry. A robust panel of speakers was assembled. This meeting coincided with the NAIC Fall Meeting. Bill is a founder of and General Counsel to the Association.