Regulation & Compliance
Ready or Not, 80% of P/C Insurers Aim to Use AI for Biz Decisions This Year
Two-thirds of property/casualty insurers plan to start using AI in operational decisions this year, according to a survey, which also reveals that nearly all insurers already using AI have been ...
‘AI Washing’ Troubles: SEC Fines Investment Firms, Issues Warnings
The U.S. Securities and Exchange Commission this week said it settled charges against two investment advisers related to "AI washing," or essentially making false claims about their use of artificial ...
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 ...
Twice as Many Personal Lines Insurers Downgraded by AM Best in 2023
AM Best delivered 39 downward credit rating actions to U.S. personal lines insurers in 2023, more than twice the number registered for 2022, the rating agency reported in it official tally for the ...
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, ...
Republican-Led States Sue SEC Over Climate Risk Disclosure Rules
Ten Republican-led states have sued to challenge new federal rules that require U.S.-listed companies to report climate-related risks, a spokesperson for the West Virginia ...