P&C Homeowners
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Filing Review Requirements |
Regulatory Reference |
Comments |
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FORMS |
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Applications |
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No filing requirement for applications (unless made part of the policy) |
Title 8, §3541 and §4205 |
Incorrect statements on the application shall not bar the right to recovery unless it was meant to deceive or unless it materially affected either the acceptance of the risk or the hazard assumed by the insurer. |
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Abuse |
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Sexual abuse exclusion permitted |
Department requirement |
With regard to Personal Lines, we allow the absolute exclusion of sexual abuse. Corporal punishment or physical or mental abuse must be limited to that "inflicted upon an 'insured' by an 'insured'." |
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Alcohol |
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Exclusion not permitted |
Department requirement |
Acts committed under the influence may not be excluded. |
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Social Host Liability |
Bulletin 135 |
See Bulletin |
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Appeals |
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Limit of liability may be waived |
Title 8, §4203 |
The Company has unlimited liability should they appeal a case without the insured's consent. |
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Arbitration |
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Cannot be both binding and mandatory |
Department requirement |
Binding arbitration is not permitted if the process can be demanded unilaterally, since it may deprive the insured of access to the court system. |
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Asbestos |
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May not be excluded |
Department requirement |
May be approved by submitting an Individual Risk "Consent to Rate Application" where a known hazard exists. See Bulletin 111. |
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Bankruptcy Provision |
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Bankruptcy of the Insured cannot relieve the company of their liability |
Title 8, §4203 |
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Cancellation & Non-renewal |
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Days' Notice and Cancellation/Nonrenewal Reasons |
Title 8, §3879-3883 |
15 days' notice for cancellation for non-pay. |
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Disclosure |
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Notice Requirements |
Regulation 78-1 (1) |
Insured must be given written notice when coverage has been modified or eliminated. |
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Electromagnetic Radiation |
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May not be excluded |
Department requirement |
No exceptions. |
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Filing Standards |
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Prior Approval |
Regulation I-2010-03 |
Forms must be submitted at least 30 calendar days prior to their proposed effective date. |
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Fraud |
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Guidelines |
Title 8, §3879 and §4205 |
If a policy is obtained through fraud or material misrepresentation, that policy may be voided. If this occurs after the effective date, the company may only deny the claim on that basis, however, has grounds for cancellation. |
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Indemnity |
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Indemnity not generally permitted |
Title 8, §4203 |
Must be "Pay on Behalf of" in Coverage Grant (Indemnity may be permitted on certain specialized coverages.) |
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Intentional Loss Exclusion |
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Guidelines |
Department requirement |
We require that the interest of any uninvolved insured be protected. We recommend the following language: |
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Intra-Family |
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May not be excluded |
Department requirement |
We do not allow any broad intra-insured exclusion in any personal lines policy. We will consider an exclusion limited to" bodily injury to an Insured, caused by the spouse of that Insured." |
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Lead/Lead Paint |
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May not be excluded |
Department requirement |
May be approved by submitting an Individual Risk "Consent to Rate Application" if a known hazard exists. See Bulletin 111. |
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Liberalization Clause |
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Not required |
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Loss Settlement |
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Loss Settlement and Payment Conditions |
Regulation 79-2; S6 |
The Insurer has 15 days to respond to a properly executed Proof of Loss. After Settlement has been agreed upon, Insurer shall mail in the agreed amount to the claimant and/or loss payee within 10 working days. |
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Pollution |
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May not be excluded. |
Regulation I-2010-03 |
Pollution may not be excluded in any personal lines policies. |
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Punitive Damages |
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May be excluded |
Bulletin 139 |
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Racing Exclusions |
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Limitations |
Department requirement |
Exclusions for "racing" or "contests" can apply only to "organized" events of this type. |
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Readability |
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Guidelines |
Regulation I-2010-03 |
Flesh score minimum is 40, not less than 10 point type, one point leaded. |
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RATING |
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Open Competition, Use and File |
Title 8, §4688 Loss Costs - |
Filing must be received within 15 days of effective date. Rate filing must include verifying material and actuarial backup. |
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Rating Plan Requirements |
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None specified |
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