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Monday, April 15, 2013

Update on NAIC Activity Regarding Lender Placed Insurance

Posted by: ABIA Outside Counsel Chrys Lemon and Adam Maarec, McIntyre & Lemon, PLLC

The National Association of Insurance Commissioners (NAIC) held its Spring 2013 National Meeting in Houston, Texas earlier this month. The Property and Casualty Insurance (C) Committee heard a “consumer update” on lender placed insurance (LPI) issues from consumer advocates Birny Birnbaum, of the Center for Economic Justice, and Peter Kochenburger, of the University of Connecticut, who encouraged the NAIC to take action.

To learn more about the NAIC's activities regarding LPI, read our compliance brief prepared just for bank-owned agencies that are members of ABIA. If you are having trouble logging on or you are with a member that is not a bank, please contact us and we will email you a copy.

ABIA members may access a wealth of compliance information – including our flagship Compliance Handbook on our new compliance page. If you need help logging in, please contact us and we will be happy to assist you.