NAIC NewsWire Nov. 11: U.S. Commercial Renewal Increases Slow; Florida Announces $100,000 Workers' Comp Fraud Arrest
The National Association of Insurance Commissioners (NAIC) NewsWire of November 11 rounded up insurance regulatory developments across the states: the Ivans Index showed that average U.S. commercial premium renewal rate increases slowed in October for most major lines; Florida announced an arrest in an alleged $100,000 workers' compensation fraud scheme; North Carolina's insurance commissioner urged homeowners to buy flood insurance as FEMA opened a direct purchase option for the National Flood Insurance Program; and Michigan's Health Insurance Marketplace open enrollment is under way.
According to the Ivans Index, average renewal rates in October rose 2.80% for commercial auto, 5.21% for BOP, 3.10% for general liability and 6.08% for umbrella, all down from September's 3.29%, 5.45%, 3.19% and 6.40%, respectively. Commercial property renewal rates rose from 5.11% to 5.37% month over month, while workers' compensation renewal rates were -1.45%, compared with -1.14% in September.
On enforcement, Florida Chief Financial Officer Blaise Ingoglia announced the arrest of Israel Carballo in an alleged $100,000 workers' compensation fraud scheme. As the owner of his construction company, Carballo allegedly concealed payroll when applying for coverage; the investigation uncovered $968,278.71 in unreported payroll exposure, and found he had cashed checks totaling $1,074,278.71 through money service businesses to hide payroll from his insurer. He paid only $9,297.43 for the policy year, resulting in a loss of $100,565.57 in premiums. Carballo was arrested on November 5 and charged with grand theft, organized scheme to defraud, and workers' compensation fraud; the case will be prosecuted by the Miami-Dade State Attorney's Office. Ingoglia said such crimes result in higher premiums for honest businesses. In South Carolina, the State Law Enforcement Division (SLED) charged Franklin Denoris Thompson of York County on November 5 with presenting a false claim for insurance payment (value more than $2,000 but less than $10,000); he was booked into the York County Detention Center.
On consumer matters, North Carolina Insurance Commissioner Mike Causey renewed his plea for homeowners to buy flood insurance, noting FEMA's new program allowing consumers to purchase NFIP coverage directly through FloodSmart.gov, and reminded consumers that homeowners policies do not cover flood damage. Michigan Department of Insurance and Financial Services Director Anita Fox reminded residents that Marketplace open enrollment began November 1, 2026 and runs through January 15, 2027, with a December 15 deadline for coverage beginning January 1, 2027, and that free local assistance is available. Tennessee's Department of Commerce & Insurance, joined by the state attorney general's office and other regulators and industry groups, warned homeowners about predatory "memo of sale" schemes that promise quick cash sales but create potentially expensive long-term problems, urging seniors and their caregivers to be alert.
On regulatory matters, the Colorado Division of Insurance adopted Regulation 4-2-106, setting requirements for pharmacy benefit managers (PBMs) to verify rural independent pharmacy designations, with annual reporting; the Maryland Insurance Administration's Bulletin 26-28 reminded insurers of their obligations on producer licensing, internal appointments and producer registers; the Iowa Insurance Division will host a free live webinar on November 18 on navigating Medicare changes and comparing plans on Medicare.gov; and South Carolina's Department of Insurance issued Order 2026-04 setting 2027 rates for credit accident and health insurance sold with consumer credit transactions. In New York, Governor Kathy Hochul launched the New York Center for AI Responsibility and Research at SUNY Binghamton University, and the Department of Financial Services said it will lead implementation of the RAISE Act through its new DIGIT Office, working with the Center on super intelligence (SI) safety research and independent testing of advanced systems.
Source: National Association of Insurance Commissioners (NAIC
Published by GSM · USA (original Chinese edition)
Photo: 图：全美保险监督官协会中央办公室所在的 Kansas City Town Pavilion 大楼。Drowzy 摄，公有领域，经 Wikimedia Commons。 / Photo: Town Pavilion in Kansas City, home to the Central Office of the National Association of Insurance Commissioners. Photo by Drowzy, public domain, via Wikimedia Commons.
