Regulation & Compliance
U.S. Personal Lines Outlook Continues to Be Negative: AM Best
The U.S. personal lines insurance industry faces too many daunting challenges, leading AM Best to maintain its negative outlook. The outlook for personal lines was changed to negative in September ...
NAIC Approves Model Bulletin on Use of AI by Insurers
Members of the National Association of Insurance Commissioners (NAIC) voted to adopt the Model Bulletin on the Use of Algorithms, Predictive Models, and Artificial ...
Artificial Intelligence Not Main Cause of Recent Insurance Layoffs: AM Best
AM Best does not believe artificial intelligence is the main cause of recent insurance industry layoffs. In commentary released today, the credit rating agency wrote that "it is too soon to cite AI ...
CSE ‘Runoff’ Prompts Downgrade, Withdrawal of AM Best Ratings
AM Best announced that is has downgraded and withdrawn the financial strength ratings of CSE Insurance Group's Civil Service Employees Insurance Company and CSE Safeguard Insurance Company, ...
Calculating Targeted California Returns on Surplus
The National Association of Insurance Commissioners (NAIC) 2022 Report on Profitability by Line and by State provides a comparison of the rates of return on net worth for the last 10 years (through ...
Permitted After-Tax Returns for California Insurers (2012-2021)
Since reinsurance costs are ultimately a substitute for direct costs of capital, we can better understand the ratemaking process in California by understanding how companies are allowed to ...
Rebuilding the California Property Market: Reinsurance Costs and Recent Reforms
In November of last year, Allstate paused writing new homeowners policies in California. State Farm, the state's largest homeowners writer, stopped accepting new applications for insurance back in ...
SEC Clamping Down on Compliance Breaches Via WhatsApp, Zoom
With text messages and emails under tightened surveillance, financial firms may now have to screen staff video calls for possible rule-breaking, amid concern regulators are poised to scrutinize such ...