Government
P/C Industry Told TRIA Extension Will Not Pass In Time For January Renewals
The property/casualty insurance industry should not count on Congress reauthorizing the federal terrorism reinsurance program this year or in time for January renewals, according to a key insurance ...
9 Global Insurers to Face Higher Capital Standards, Tougher Supervision
Top insurers will have to hold more capital from 2019 to cover risks they pose to the financial system should they go bust, global regulators said on Thursday. Regulators also released an initial ...
SEC Bans Gupta From Director, Officer Roles; Imposes $13.9M Fine
Former Goldman Sachs Group Inc. director Rajat Gupta was ordered to pay a $13.9 million civil penalty and banned from serving as an officer or director of a public company for having illegally passed ...
Paint Makers’ $900M Lead Paint Trial Underway in California
BP Plc's Atlantic Richfield Co. is among five companies fighting a public nuisance lawsuit in state court seeking $900 million to replace or contain lead paint in millions of California homes. In a ...
Conn. Says Insurers Must Complete Climate Risk Survey
Connecticut Insurance Commissioner Thomas Leonardi has decided that about 110 Connecticut-based insurance companies will be required to complete a survey describing what they are doing to address ...
Judge Lets U.S. Pursue $5B Fraud Lawsuit Against S&P
The U.S. government may proceed with its $5 billion lawsuit accusing Standard & Poor's of misleading investors by inflating its credit ratings, after a federal judge rejected the rating agency's ...
New York Approves Workers’ Comp Loss Cost Filing
The New York Department of Financial Services on Monday approved a 9.5 percent revised loss cost increases request from the New York Compensation Insurance Rating Board (NYCIRB) with an effective ...
NC Residual Market Prepped For Storms With $500M In Cat Bonds, HO Rate Hikes
North Carolina's two residual homeowners insurance markets have jointly issued $500 million in pre-event catastrophe bonds to ensure they have enough money on hand to quickly pay claims following ...