Regulation & Compliance
P/C Industry Lobbyists Hope to Shape FAA’s Proposed Drone Regs
Two insurance industry trade associations expressed support for proposed regulations governing commercial drone use, calling them a good first step. Worries remain, however, about how the regulations ...
Ohio Insurance Director Warns Insurers Against Using Price Optimization
Lieutenant Governor and Department of Insurance Director Mary Taylor has warned Ohio insurers against the use of price optimization that can result in unfair discrimination. Taylor recently issued ...
OneBeacon’s Adverse Reserve Developments Draw Fitch and Moody’s Attention
OneBeacon Insurance Group has been dealt a ratings outlook warning from Fitch Ratings and an outright downgrade from Moody's Investors Service, stemming from substantial adverse reserve development ...
S&P Will Pay $1.5B to Settle Suits Over Inflated Subprime Mortgage Bond Ratings
S&P, a unit of McGraw Hill Financial Inc., will pay more than a year's profit to settle suits that it inflated ratings on subprime mortgage bonds at the center of the 2008 financial crisis. ...
The Hanover’s Diversification Earns a Standard & Poor’s Ratings Upgrade
The Hanover Insurance Group got a ratings upgrade from Standard & Poor's, which cited continued strategies at the Massachusetts-based insurer designed to reduce risk and improve its bottom line. ...
U.S. Currency-Rigging Lawsuit to Proceed Against 12 Big Banks
A federal judge on Wednesday said U.S. investors may pursue a nationwide antitrust lawsuit accusing 12 major banks of rigging prices in the $5.3 trillion-a-day foreign exchange market. U.S. District ...
NAIC Adopts New Corporate Disclosure Requirements: What Carriers Can Do Today to Avoid Problems Tomorrow
The NAIC recently adopted the Corporate Governance Annual Disclosure Model Act and corresponding Model Regulations (CGAD). Although the initial disclosures are not likely due until 2016 at the ...
Fitch Ratings: Bermuda Reinsurers Adapting To a Tough 2015 Ahead
Merger-mania may be accelerating among property/casualty reinsurers. But as Fitch Ratings sees it, the Bermuda market in 2015 is adapting in the face of heavy competition, alternate sources of ...