Regulation & Compliance
Raise a Glass to Cat Models: More California Hearing Deets
At a recent California Department of Insurance virtual public hearing, stakeholders were invited to weigh in on a regulatory proposal spelling out commitments insurers have to make in exchange for ...
Berkshire, Starr in Top Cyber Ranking; Global Outlook Stable: AM Best
According to industry rating agency AM Best, there are enough positive factors to give the cyber insurance market a 'stable' outlook despite a stall in premium growth. Analysts at AM Best issued a ...
AM Best Ups Reinsurance Outlook to Positive
Decelerating reinsurance rate increases aren't a worry for AM Best analysts who have revised the global reinsurance segment outlook to positive from stable, citing "robust profit margins" as a driver ...
Liability Reinsurance Crisis Could Be Looming, CEO Says
"There could be a liability crisis in reinsurance in a couple of years," a reinsurance executive predicted this week. Ken Brandt, chair, president and chief executive officer of TransRe, offered the ...
Surplus Lines Insurers Providing a Much-Needed Safety Valve for P/C Industry
Given the difficult environment for primary property/casualty carriers, the efficient use of excess and surplus (E&S) lines capacity is providing a safety valve for ...
Signals ‘Promising’ for Florida Reforms’ Impact, Reinsurance Still a Drag
Analysts with the AM Best financial rating firm and other stakeholders are cautiously optimistic about the resurrection of the Florida property insurance market, 18 months after state lawmakers ...
Insurers Must Physically Inspect to Confirm Damage Cited by Aerial Imagery
The Pennsylvania Insurance Department (PID) is reminding insurers of their obligation to conduct a physical inspection to confirm the type and extent of damage to a roof supposedly evidenced by ...
Supreme Court Backs NRA in Claim Against NY Insurance Regulator
The U.S. Supreme Court has revived a claim by the National Rifle Association (NRA) that a former New York regulator allegedly violated the organization's First Amendment rights by coercing insurers ...