Insurance Regulation
CEO of Florida’s Citizens Pushes Back on Lawmaker’s Solvency Questions
The CEO of Citizens Property Insurance Corp. has denied that corporation representatives have been unresponsive to Congressional requests for financial information, in the wake of unsettling comments ...
State Farm Update: More ‘Difficult but Necessary’ Decisions in California
State Farm wasn't quite done making tough decisions about writing business in California when it announced that it wouldn't accept applications for new homeowners policies in the state in May of last ...
Triple-I: Regulatory Restrictions Contribute to Risk Crisis in California
Regulatory restrictions to actuarially sound insurance pricing and underwriting, coupled with the need for more mitigation and resilience efforts in the state of California, are placing financial ...
NAIC P/C Market Intelligence Data Call Announced; Data Due June 6
While the U.S. Treasury dropped a plan for the Federal Insurance Office to collect data on climate-related risks from property/casualty insurers last week, regulators still want to scrutinize what's ...
U.S. Treasury Drops Plan to Collect Insurer Data on Climate Risks
The U.S. government is stepping away from its effort to collect data on home insurance prices and availability at the ZIP code level as premiums soar and climate risks to property intensify. Instead, ...
MGU-Carrier Relationships and AI
The NAIC's model bulletin on carriers' use of Artificial Intelligence Systems, adopted in December 2023, specifically sets out expectations that insurers will describe their processes for acquiring, ...
Definitions, Definitions: Advanced AI vs. AI
The definitions of artificial intelligence and machine learning used in the NAIC Surveys on Automobile and Homeowners over the last few years differ from the definitions set forth in the Model ...
NAIC’s AI Model Bulletin in Brief
Introducing the idea that regulators encourage the use of innovation and AI Systems while recognizing that such systems present unique risks, such as the "potential for inaccuracy, unfair ...