Government
New York Regulators Launch Price Optimization Inquiry
The New York Department of Financial Services (DFS) is seeking information about price optimization from hundreds of property/casualty insurers operating in the state. New York joins a growing number ...
First Federal Fracking Rules Face Challenge From Oil Industry
U.S. drillers already reeling from a six-month drop in oil prices denounced new U.S. fracking regulations as costly and unnecessary, and quickly met them with a lawsuit. After three years of debate, ...
Fireman’s Fund Settles Crop Insurance Fraud Charges for $44M
Fireman's Fund Insurance Co. has agreed to pay $44 million to settle allegations under the False Claims Act that it knowingly issued insurance policies that were ineligible under the U.S. Department ...
International Capital Standards Will be Slow in Coming: FIO’s McRaith
Insurers could see some version of an international capital standard by 2016, Federal Insurance Office Director Michael McRaith told a recent gathering of industry professionals in Washington, D.C. ...
AIG Investors’ $970.5M Settlement Approved
American International Group Inc. shareholders won approval on Friday of a $970.5 million settlement resolving claims they were misled about its subprime mortgage exposure, leading to a liquidity ...
Western U.S. Drought Pressures Expected to Intensify
Drought pressures will increase in California and western areas of the United States this spring even as the dry season begins, the government's Climate Prediction Center said on Thursday. "Periods ...
Bank of England Promises Fair Use of Solvency II Insurance Rules
The Bank of England said on Friday that it would apply new European Union insurance regulations "proportionately," following industry fears that the central bank might seek to add extra rules for ...
Zurich Exec to Senate Subcommittee: Industry Needs National Cyber Threat Database
Cyber insurance is one of the fastest growing property/casualty insurance markets. But the sector remains the Wild West of risk prevention, a fast moving target with rapidly-evolving risk portfolios, ...