Accounting & Tax
Storm Ciara (AKA Sabine) Could Cause $2B in Insured Losses: RMS
Total insured property losses from storm Ciara, which was named Sabine in Germany, could be between 1.1 billion and 1.8 billion euros ($1.2 billion-$1.95 billion), catastrophe risk modeling firm RMS ...
Thai Broker TQM, Insurer Are First to Roll Out Thai Coronavirus Policy
The world's best-performing insurance firm has seized on the latest health concern to offer Thailand's first policy to cover the novel coronavirus. TQM Corp., with partner Bangkok Insurance Pcl, this ...
Dowling Highlights Regulatory Battle Over AI Bias; Lemonade Ready
As insurers introduce artificial intelligence into pricing and claims handling activities, regulatory focus on disparate impact will grow into "one of the biggest topics of the next 10 years," a ...
Liberty Mutual Takes on Uber Coverage in Three Regions
Liberty Mutual Insurance will provide coverage for Uber drivers and passengers throughout New England, South Carolina and Puerto Rico as part of the company's 2020 auto insurance programs, which ...
Financial Firms, Regulators Urged to Be More Agile on Cybersecurity Risks
Cleveland Federal Reserve President Loretta Mester said on Thursday that financial firms and regulators should be more agile and share information to better combat cybersecurity threats. Financial ...
IRS Makes Settlement Offer to Taxpayers Involved in ‘Dirty’ Micro-Captive Insurance
The Internal Revenue Service said it is mailing a time-limited settlement offer for certain taxpayers under audit who participated in what the IRS calls "abusive micro-captive insurance" ...
Indiana University Research Reveals Problems of Fewer Financial Reports
President Donald Trump on Friday indicated that he has asked the Securities and Exchange Commission to review changing its reporting requirements, away from quarterly reports to semi-annual reports. ...
P/C Insurers, Reinsurers Face Earnings Volatility Due to New Accounting Requirement: Fitch Ratings
Many insurers and reinsurers are facing some earnings volatility in 2018 due to a change in accounting requirements for equity securities, Fitch Ratings said in new market commentary. According to ...