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Around the PIA Western Alliance States

Posted By Administration, Tuesday, December 5, 2017

California — Diversity Summit: At the 6th Annual Insurance Diversity Summit, Insurance Commissioner Dave Jones announced California diverse businesses supplied $1.6 billion in goods and services to insurance companies last year-a $670 million increase since 2012.

Jones also announced the 2017 Multistate Insurance Diversity Survey, launched last year as the first ever national survey of the insurance industry around supplier and governing board diversity with insurance commissioners from four states-California, District of Columbia, Oregon, and Washington, found insurers spent $7.8 billion with diverse suppliers nationwide in 2016.

Commissioner Jones hosted the summit convening more than 300 insurance company executives, business organizations, chamber representatives, diversity advocates, and leaders from minority, women, LGBT, veteran owned and disabled veteran owned businesses today at California State University Sacramento. By providing a platform for diverse suppliers and insurers to meet, and encouraging insurers to embrace supplier diversity programs and corporate board diversity, Commissioner Jones is leading the nation in establishing supplier diversity in the insurance market while moving towards a board that reflects its diverse consumer base.

"The California Insurance Diversity Initiative started a conversation among insurers, diverse suppliers, governing board members, advocates, and stakeholders that has translated into action," said Insurance Commissioner Dave Jones. "I am pleased with the progress in California and throughout the nation and I commend those insurers who continue to be leaders by proactively implementing strategies to diversify their boards and expand their outreach to our nation's talented diverse businesses."

The summit hosted its first ever resource expo with 28 organizations showcasing useful tools and mentorship programs to diverse suppliers, insurers, and stakeholders to help increase supplier and governing board diversity. The department also conducted the annual matchmaking session where nearly 70 diverse suppliers were paired with over a dozen insurance companies for about 150 matches. The sessions, coordinated in partnership with BrandGov, a women and minority-owned business that facilitates matchmaking, offered California's diverse suppliers the opportunity to present their company's goods and services to insurers, in hopes of competing for upcoming contract bids.

2017 Diversity Awards - CSAA Insurance Group received the Insurance Commissioner's Award for Excellence in Diversity for its exceptional diversity on both their governing board and supplier diversity efforts. Kaiser Permanente was presented the Supplier Diversity Champion Award for its commitment to supplier diversity, its successful approaches to diverse supplier development, and for increased opportunities for diverse suppliers. Prudential Financial received the Governing Board Diversity Champion Award for its example of successful board diversity and for its successful and innovative approaches to diversifying its governing board. The Western Regional Minority Supplier Development Council (WRMSDC) was honored with the Insurance Diversity Trailblazer Award for being a champion of diversity and an advocate for diverse businesses for 40 years. CalPERS and CalSTRS, both speakers at the Governing Board Diversity workshop, were also nominees for the Trailblazer Award.

"CSAA Insurance Group, Kaiser Permanente, Prudential Financial, and the Western Regional Minority Supplier Development Council are leaders in the field of diversity within the insurance industry, and I commend them for furthering the goals of the initiative and partnering with us to ensure success," Jones added.

The summit was sponsored by NGLCC, JT2 Integrated Resources, Air-Tech Environmental, Inc., Macias Consulting Group, Inc., En Pointe IT Solutions, LLC, Mischler Financial Group, Trinus Corporation, Blaylock Van, LLC, WesTech Environmental, LLC, Paragon, Equilar, and Jay Greene Law Firm.

 

Nevada — Las Vegas & Drones: The ZIP code of 89117 in Las Vegas has the distinction of having the most registered drones of any ZIP code in the U.S. There are 672 hobbyist drone registrations. And that’s 200 more than the next highest ZIP code which is a suburb in Houston.

By the way there are 836,796 hobbyist drones registered in the nation today and 106,739 non-hobbyist users.

Source link: Insurance Journal

 

New Mexico — Nuclear Storage Safety Concerns: The Defense Nuclear Facilities Safety Board has concerns about safety at the Los Alamos National Laboratory’s new radioactive waste storage facility. Due to some safety lapses, the $97.5 million dollar facility will have to limit the type of material and storage containers for the near future.

Source link: Insurance Journal

 

Oregon — Premium Assessment: The most recent guidance from the Division of Financial Regulation (DFR) regarding the House Bill 2391 premium assessment (as of 12/1/17) is now available. This information, along with any updated guidance that we will be providing, will be posted to the division's website at http://dfr.oregon.gov/ and be sent out to you via GovDelivery. The current package contains:

An Oregon Department of Justice Memorandum on the collection of HB 2391 Insurance Assessments. 

and…

An Oregon Division of Financial Regulation Bulletin providing more detailed guidance and responses to some commonly asked questions to date.

We anticipate that additional guidance will be provided in the form of updates to the attached division bulletin. Please know that we are working to run to ground your questions as quickly as possible and our responses will come in the form of additions to the division bulletin. Should you have additional questions, please direct those inquiries to Michael Schopf at (503) 947-7270 or michael.d.schopf@oregon.gov.

 

Washington — From the Office of the Commissioner: This is the 2017 Direct practice report: https://www.insurance.wa.gov/legislative-and-commissioner-reports?utm_content=&utm_medium=email&utm_name=&utm_source=govdelivery&utm_term=

 

Cost of Public Records: The commissioner’s office has adopted the cost of public records request rule (R 2017-05) on November 22, 2017. The rule takes effect on January 1, 2018. The rule conforms sections of WAC 284-03-035 to the statutory amendments in Engrossed House Bill 1595 (leg.wa.gov), particularly the charging of fees for copying public records.

For more information, including the adopted rule (CR-103P) and the concise explanatory statement, please visit the rule's webpage: https://www.insurance.wa.gov/cost-public-records-requests-r-2017-05?utm_content=&utm_medium=email&utm_name=&utm_source=govdelivery&utm_term=

 

Solvency and filings requirements proposed rule posted: Washington State Office of the Insurance Commissioner has released the proposed rule language on (R 2016-23). The proposed rules will consider clarifying solvency and financial requirements of service contract providers and protection product guarantee providers, forms of a parental guarantee, the filings these entities submit to the Commissioner, and the correction of outdated statutory citations.

We have scheduled a public hearing on the rule:

When: January 4, 2018, at 10:30 a.m.

Where: Insurance Building, 302 Sid Snyder Ave., SW, Suite 200, Olympia, WA 98504

Comments on the proposed rule language are due January 3, 2018; please send them to rulescoordinator@oic.wa.gov.

For more information, including the proposed rule language (CR-102), please visit the rule's webpage: https://www.insurance.wa.gov/service-contract-providers-and-protection-product-guarantee-providers-solvency-and-filings?utm_content=&utm_medium=email&utm_name=&utm_source=govdelivery&utm_term=

Tags:  Around the PIA Western Alliance States  Insurance Content  Insurance Industry  Insurance News  Weekly Industry News 

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