Insurance Regulation
Court Upholds California Commissioner’s Authority in Mercury Rate Cut
The California Court of Appeal has upheld a Los Angeles Superior Court ruling by dismissing Mercury Insurance Co.'s lawsuit challenging Insurance Commissioner Dave Jones' authority to decrease the ...
NAIC CEO Nelson Explains Affordable Care Vote, Warns Feds ‘Stay In Your Lane’
Spending roughly a dozen years in the U.S. Senate taught the new CEO of the National Association of Insurance Commissioners (NAIC) how to play defense, he revealed during an industry meeting last ...
Enterprise Risk Reporting: The New ‘Form F’ Requirement Is Coming
In response to the 2008 financial crisis and, in particular, the AIG bailout, the National Association of Insurance Commissioners (NAIC) adopted a significant revision to the model Insurance Holding ...
Defining Terrorism For Policies Not A Simple Task After Boston Tragedy
There are a number of issues involved in determining whether the Boston bombings tragedy would be considered a terrorist act for insurance purposes such as determining the applicability of terrorism ...State Insurance Commissioners Approve American Indian Outreach
The National Association of Insurance Commissioners (NAIC) has approved the formation of an American Indian Liaison Committee to address cooperation between sovereign states and sovereign tribal ...
Will HUD’s Disparate Impact Rule Have Say in Ratemaking?
Despite the McCarran-Ferguson Act, which reserved the regulation of the "business of insurance" to the states, the Department of Housing and Urban Development (HUD) has given itself the ability to ...
Guide To Preventing Class-Action Disasters Arising From Natural Catastrophes
According to recent estimates, total insured losses for Superstorm Sandy will total at least $25 billion. This figure dwarfs the $4.5 billion in estimated losses caused by Hurricane Irene in 2011. ...
Lots Of Room For Improvement In U.S. P/C Industry ERM Capabilities: PwC
PwC's recent survey into enterprise risk management practices in the U.S. insurance industry showed that many companies are taking active steps to develop their ERM frameworks. However, the survey ...