Insurance Regulation
Florida Court, Regulator Reject Policy Language to Curb AOB Abuse
Florida appeals court has sided with the state's insurance regulator in rejecting policy language filed by a Florida homeowners insurer to restrict the use of assignment of benefits. The decision ...
Federal, State Regulators Propose Consolidated Collection of Terrorism Insurance Data
The process carriers follow to collect data required under the U.S. federal terrorism reinsurance program are moving toward a more streamlined approach in 2018. Previously, U.S. Department of ...
Fla. Puts Workers Comp Carrier Guarantee Insurance in Receivership
Florida insurance regulators have placed workers compensation carrier Guarantee Insurance Co. in receivership due to inadequate reserves. According to documents from the Florida Office of Insurance ...
Global Regulators Rethinking How to Assist Risks in Large Insurers
Global regulators are rethinking how to assess risks in big insurance companies, marking a shift that could make life easier for the industry. The Financial Stability Board said on Tuesday it could ...
China Issues Sweeping Rules to Regulate $15 Trillion in Asset Management Products
China's central bank on Friday issued sweeping guidelines to tighten rules on asset management business, the latest step by Beijing to fend off systemic risks in the country's rampantly growing ...
Solving Financial System Cybersecurity Challenges Won’t Happen With Regulation: Fed Official
More rules may not be the best answer to protecting the financial system against cyber attacks, a Federal Reserve official said. "I don't think the solution to the cybersecurity problem rests in ...
UK Regulator Launch Investigation of Wholesale Insurance Brokers
Britain's financial services industry regulator is to launch later this week a long-promised investigation into competition in the wholesale insurance broking market, where one top executive has ...
First Commercial Carrier Approved in California to Sell Cannabis Insurance
Since last year, Californians are allowed to grow and possess marijuana. Now, the most populous U.S. state has taken another step to bolster the cannabis business by deciding to give insurance cover ...