Industry News
Florida OIR Approves Four More HO Rate Cuts as Citizens Keeps Shrinking
Florida's insurance commissioner announced his office has approved four rate decreases on homeowner policies, averaging 7% and affecting 62,000 policies at renewal. And more rate cuts are on the ...
Insurance Regulators Defend State-Led Model in Reply to Warren
The National Association of Insurance Commissioners defended its supervision of Wall Street's influence over insurers and their bets on private credit, as the group seeks to dispel US Senator ...
Humans Still Matter to Insurance Consumers, Says Big ‘I’ Survey
There is some good news, according to the Independent Insurance Agents & Brokers of America, as the use of artificial intelligence proliferates across the industry: People still prefer people. A ...
Buffett Steps Down as Berkshire Chair, Ending Six-Decade Run
Berkshire Hathaway Inc. founder Warren Buffett is stepping down as the company's chairman to be replaced by his son Howard, effectively ending roughly six decades at the helm of the conglomerate. The ...
AIG’s Hancock to Retire as Head of General Insurance
Jon Hancock, CEO of General Insurance at American International Group (AIG), will retire at the end of the year. The announcement is the newest change for AIG's C-suite, which experienced several ...
Senate Committee Sends TRIA Reauthorization to the Floor
Federal legislation to extend the Terrorism Risk Insurance Act will head to the full Senate after unanimously getting a nod from the Senate Banking Committee. The committee on Sept. 17 voted 24-0 to ...
UK Insurers Urge Bank of England to Rethink ‘Dynamic’ Stress Test
Britain's insurance industry is urging the Bank of England's regulatory arm to rethink its live crisis simulation, citing heavy reporting demands and unrealistic scenarios in a stress test that ...
Federal Legislation Targets Auto Insurance Fraud With Steep Penalties
Earlier this month, federal legislation was introduced to make motor vehicle collision fraud a federal crime, according to a joint press release by Congresswoman Laura Gillen (D-NY-04) alongside U.S ...