Regulation & Compliance
AIG, Argo, EMC CEOs Stress Importance of Balanced Regulatory Environment
At the Insurance Information Institute's (I.I.I.) 2018 P/C Joint Industry Forum, held January 16 at New York City's Marriott Marquis, panelists stressed the importance of a balanced regulatory ...
Florida Court, Regulator Reject Policy Language to Curb AOB Abuse
Florida appeals court has sided with the state's insurance regulator in rejecting policy language filed by a Florida homeowners insurer to restrict the use of assignment of benefits. The decision ...
Federal, State Regulators Propose Consolidated Collection of Terrorism Insurance Data
The process carriers follow to collect data required under the U.S. federal terrorism reinsurance program are moving toward a more streamlined approach in 2018. Previously, U.S. Department of ...
Allied World Is Back in A.M. Best’s Good Graces
Allied World Assurance Company Ltd. is back in A.M. Best's good graces. The insurer and its divisions have been removed from their status as "under review with negative implications." Also, A.M. Best ...
2018 Prediction: U.S. P/C Industry Will Take Time to Recover From 2017 Catastrophes
Property/casualty insurers in the U.S. will rebound in 2018 from the late-2017 onslaught of hurricanes and wildfires, but it will take a while to return to "significant underwriting profits," Fitch ...
Fla. Puts Workers Comp Carrier Guarantee Insurance in Receivership
Florida insurance regulators have placed workers compensation carrier Guarantee Insurance Co. in receivership due to inadequate reserves. According to documents from the Florida Office of Insurance ...
Global Regulators Rethinking How to Assist Risks in Large Insurers
Global regulators are rethinking how to assess risks in big insurance companies, marking a shift that could make life easier for the industry. The Financial Stability Board said on Tuesday it could ...
China Issues Sweeping Rules to Regulate $15 Trillion in Asset Management Products
China's central bank on Friday issued sweeping guidelines to tighten rules on asset management business, the latest step by Beijing to fend off systemic risks in the country's rampantly growing ...