Regulation & Compliance
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AM Best announced that is has downgraded and withdrawn the financial strength ratings of CSE Insurance Group's Civil Service Employees Insurance Company and CSE Safeguard Insurance Company, ...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 ...
‘Risky in California’ Spurs Push for Home Insurance Overhaul
California is prioritizing home insurance availability as it rewrites market rules to coax back insurers and ease a coverage crunch in a state ravaged by wildfires, said Insurance Commissioner ...
Down, Down, Down….AM Best P/C Downgrades Outpacing Upgrades
The number of rated property/casualty personal lines insurers that had their credit ratings downgraded by AM Best more than doubled to 21 in the first-half of 2023, compared to 10 in first-half 2022. ...
How a Regional Carrier Protects Against a $60B California Cat Event
While two dozen interested parties spoke at a recent California Department of Insurance workshop on the use of catastrophe modeling in pricing, offering predictable messages supporting carrier, ...