Insurance Regulation
If Passed, Bills to Nullify BI Exclusions Could Prove Disastrous: AM Best
Legislation to nullify business interruption (BI) exclusions in some states could have disastrous consequences for the P/C insurance industry if passed, potentially wiping out up to 50 percent of ...
Argo Group Experiences Both International and U.S. COVID-19 Losses
Argo Group International Holdings expects pretax net catastrophe losses of $29 million during the 2020 first quarter, the bulk of which stems from costs relating to the COVID-19 pandemic. The ...
Opinion: Leaders Should Resist Rewriting Property, Business Interruption Coverage
Soon after the attacks on the World Trade Center and other locations on the morning of September 11, President Bush declared that the atrocities were "an act of war." That statement prompted a call ...
California Orders Carriers to Refund Premiums to Drivers, Businesses Slammed by COVID-19
California Insurance Commissioner Ricardo Lara on Monday ordered insurance companies to return insurance premiums to consumers and businesses and provide financial relief during the COVID-19 ...
APCIA Asks Regulators for More Coordination on COVID Data Calls
Delivering remarks about the property/casualty insurance industry's response to the growing impacts of COVID-19 on policyholders late last week, an industry group executive called on the NAIC to ease ...
How Silence May Impact Commercial Insurers on COVID Cover
Silence may be deadly for property/casualty insurers writing commercial insurance, an executive of an InsurTech that specializes in analyzing insurance policy language suggested recently, explaining ...
Insurer Group Says Proposed California Regs Could Ax Discounts for Millions
The American Property Casualty Insurance Association testified in opposition to draft regulations they say could eliminate many affinity group insurance discount programs during a pre-notice workshop ...
European Carriers May Need More Protection for Policyholders if Insolvency Happens: EU
Insurers in Europe may need to put aside money to protect their policyholders should they become insolvent, and regulators should be able to be shut them down swiftly without the need for taxpayer ...