Tag: Compliance

Kentucky Launches New Auto Insurance Verification System for Compliance

Kentucky launches a new auto insurance verification system for insurers, enhancing compliance and real-time access to insurance data. Join the initiative today!

CMS Proposes Removing HRA Medicare Part D Creditable Coverage Reporting

CMS proposes removing creditable coverage reporting requirements for HRAs under Medicare Part D to reduce administrative burdens and beneficiary confusion.

Washington Fines Regence $550K for Mental Health Parity Violations

Washington fines Regence BlueShield $550,000 for failing to comply with state and federal mental health parity laws, highlighting ongoing enforcement challenges.

Kyle Busch's $8.6M Loss Highlights Risks of Indexed Universal Life Insurance

NASCAR's Kyle Busch lost $8.6 million in premiums due to fees and performance issues in an Indexed Universal Life insurance policy sold by Pacific Life. This case highlights risks and compliance issues in IUL policies for insurance professionals.

ERISA Lawsuit Alleges Major Insurers Wrongfully Denied Disability Benefits

A major ERISA lawsuit alleges wrongful denial of disability benefits by top insurers, raising compliance and fiduciary duty issues under federal law.

FRC Proposes Expanded Enforcement Tools to Enhance Audit Oversight

The Financial Reporting Council (FRC) proposes new enforcement pathways to improve audit oversight and regulatory response times, aligning with its Future of Audit Supervision Strategy.

Non-life Insurance: Emerging AML Risks Demand Updated Compliance Strategies

Non-life insurance poses increasing AML risks due to evolving criminal fraud tactics. Insurers must update compliance frameworks with AI-driven detection and cross-functional collaboration.

Medicare Open Enrollment Spurs Rise in Fraudulent Activity, Massachusetts SMP Warns

Medicare Open Enrollment 2025 in Massachusetts sees a surge in scams targeting beneficiaries. The Massachusetts SMP program urges vigilance and offers fraud prevention resources to protect Medicare coverage.

Medicare Enrollment Cycles: Key Insights on Pre-AEP and AEP Periods

Gain key insights on the Medicare Annual Election Period (AEP) and Pre-AEP phases, critical for managing Medicare Advantage and Prescription Drug Plan enrollment and changes. Understand compliance, timing, and beneficiary engagement.

Strategies for Medicare Annual Enrollment Period Success in 2024

Explore effective strategies for Medicare Annual Enrollment Period 2024 to enhance client trust, streamline processes, and ensure regulatory compliance.