Regulation & Compliance
Q3 Catastrophe Fallout: XL Group’s Fitch Ratings Outlook Turns Negative
XL Group got smacked with a negative ratings outlook from Fitch Ratings, thanks to pre-tax natural catastrophe losses in Q3 that hit $1.48 billion. Fitch said it revised the ratings outlook to ...
Insurers Increasingly Anxious About Managing Risks: Wolters Kluwer Survey
Insurers appear to be increasingly anxious about their ability to manage risk across their lines of business, and much more concerned about regulation, according to Wolters Kluwer's new Regulatory ...
International Capital Standards Remain a Work in Progress: Ex-Fed Reserve Governor
The International Association of Insurance Supervisors (IAIS) is no closer to enacting international capital standards for insurers than it was when it took up the task five years ago, attendees at ...
U.S. Regulator Faults Wells Fargo Over Auto Insurance Abuses: NYT Report
Wells Fargo & Co wrongly pushed auto insurance on customers who did not need it and took too long to halt the abuse, the New York Times reported on Friday, citing a confidential report from a ...
A.M. Best Puts Carriers, Reinsurers on Review in Conjunction with BCRM Update
Insurance rating agency A.M. Best announced the publication of the updated Best's Credit Rating Methodology (BCRM) on Friday, and also announced the names of several insurance and reinsurance groups ...
S&P No Longer Expects Global Re Rate Drops at Jan. 1
A trio of third-quarter hurricanes and continued catastrophe losses impacting insurers and reinsurers will have a greater impact on reinsurers—and may potentially fuel reinsurance rate hikes at the ...
S&P Changes Lloyd’s Outlook to Negative; Cat Loss Tallies Continue
While affirming the A+ financial strength rating of the Society of Lloyd's, S&P Global Ratings announced said Thursday that it revised the rating outlook to negative from stable in the wake of ...
Without Access to Crop Insurance, Calif. Fires Could Prove Fatal for Damaged Marijuana Farms
For many businesses in northern California, it will take years to rebuild from the wildfires that have decimated the region. And for many legal cannabis growers, the destruction could be ...