Regulation & Compliance
Fitch Ratings Shifts Global Re Outlook to Neutral; Pricing Past Peak
Fitch Ratings announced that it shifted its outlook on the global reinsurance sector to neutral yesterday but the downward shift came with an expectation of continued profitability—and a forecasted ...
Allstate Approved to Raise Home Insurance Rates by 34% in Wildfire-Prone California
Allstate Corp. is set to increase home insurance rates for California customers by an average of 34.1 percent, marking the biggest jump in premiums for a major insurer in three years as the state ...
World’s Largest Reinsurers: AM Best’s Latest Ranking…sort of
Every year around this time, AM Best publishes a single list of the "World's 50 Largest Reinsurers," ranked based on unaffiliated gross premiums recorded in the prior year. The latest installment, ...
W. Va. Commish to Destroy Older Workers Comp Files, Citing Cyber Risk
The West Virginia insurance commissioner's office has adopted a new policy: It will soon begin destroying workers compensation claim files that are 10 years old or older. "Given increasing ...
Wall Street Regulator Approves Tougher Rules for Auditor ‘Negligence’
Wall Street's top regulator on Tuesday voted 3-2 to bless new rules making it easier for an audit watchdog to hold people responsible for audit firms' violations. Divided along party lines, the ...
Are Captives the Answer for Uninsured HOAs? Utah Opens Door
When actuary Greg Fears attended a Western Region Captive Insurance Conference in April, he expected to learn and share information about emerging uses of captives for commercial risks, including ...
Beryl Lands in Texas; Record Storm Spawns ‘Early Warning’ for Insurers
Although Beryl was still a tropical storm on Sunday, late day National Hurricane Center advisories put it on track to make landfall on the middle Texas coast early Monday, possibly regaining strength ...
CEO Viewpoints: On Michigan, California and Litigation ‘Leeches’
"Michigan—not so great." The easy-to-overlook observation about insurance risk, delivered by Elizabeth Heck, chief executive officer of Greater New York Insurance Companies, during a panel ...