Regulation & Compliance
The P/C Insurance Market’s Top Market Conduct Issues
The U.S. insurance industry's top compliance shortcomings relate to claims handling noncompliance, including timeliness, required disclosures, payments and grievance and appeal processes—as well as ...
China Triggers Another Anti-Graft Effort for Finance Sector
China's ruling Community Party turned its sights on the country's vast financial sector this month, kicking off a new round of a years-long campaign to uncover corruption and illegal dealings. The ...
U.S. Senators See ‘Actuarial Disaster’ on the Horizon With Flood Risk Rating 2.0
U.S. senators from coastal states are predicting "an actuarial disaster" in the future once FEMA's new flood insurance rating systems goes into full swing. In a press call on Sept. 30, Louisiana Sen. ...
Executive Viewpoint: Ethical AI and Data Transparency in Insurance
As environmental, governance and social (ESG) concerns permeate corporate agendas, businesses of all types need to be especially sensitive about how they use customer data. Insurance companies are ...
Climate Change Impact: 40% Chance of ‘100-Year Storms’ Over 20-Year Span
While events like Hurricane Ida and a Texas winter freeze demonstrate wide-reaching impacts of climate change to all but ardent deniers, even insurers and reinsurers may not fully appreciate all the ...
Florida Policies in Limbo Over Proposed Insolvency Surcharge
The Florida Insurance Guaranty Association is urging insurers to hold off on sending homeowners policy renewals until state regulators decide if they will approve a surcharge on premiums to help ...
James River Unloads Rideshare Reserves To Uber Captive
Late last week, James River Group Holdings, Ltd. announced that two of its principal operating subsidiaries entered into a loss portfolio transfer reinsurance transaction with a wholly owned captive ...
Hong Kong Tycoon Richard Li’s Insurer FWD Makes U.S. IPO Filing Public
Insurance company FWD Group Holdings Ltd, owned by Hong Kong billionaire Richard Li, made its filing for a stock market listing in the United States public on Thursday, revealing a jump in revenue ...