Insurance Regulation
Florida’s Citizens Seeks Maximum Rate Hike for Homeowners
The board of governors for Citizens Property Insurance Corp., Florida's state-backed insurer of last resort, wants the maximum allowed rate increased – 11 percent for next year and 12 percent for ...
NAIC Forms New Committee on Innovation, Cyber, Emerging Tech
Members of the National Association of Insurance Commissioners voted on Dec. 16, 2021, to form a new Innovation, Cybersecurity, and Technology (H) Committee to address the insurance implications of ...
Bias Education Required For Actuaries Issuing Statements of Opinion
The American Academy of Actuaries has revised the qualification standards for actuaries who issue statements of actuarial opinion (SAOs) in the United States, the association announced this week. The ...
China Issues Tougher Risk Management Rules for Insurance Groups
China's banking and insurance regulator on Tuesday issued new rules governing the risk management of insurance groups, which will step up supervision, limit holdings of non-core units and regulate ...
China Rules Target Perpetual Bonds Issued by Insurers
China's central bank and banking and insurance regulator issued draft rules on Friday on the issuance of perpetual bonds by country's insurance companies. The new rules aims to improve the capital ...
Better Agency Onboarding, Licensing Key to Digital Transformation
Digital may be the frontline in the battle between traditional insurers and InsurTech disrupters. But back-office technology could win the day. Though client-facing technology creates the consumer ...
Marijuana Waxes as Opioids Wane in Workers Comp
Workers compensation insurers have slashed spending on opioids, reducing the risk of addiction and delayed recovery, but now they are under increasing pressure to reimburse injured workers for a new ...
The P/C Insurance Market’s Top Market Conduct Issues
The U.S. insurance industry's top compliance shortcomings relate to claims handling noncompliance, including timeliness, required disclosures, payments and grievance and appeal processes—as well as ...