Regulation & Compliance
Wind, Water and a Downgrade: AM Best Withdraws Ratings for Tower Hill Prime
Less than an hour after Hurricane Ian made landfall in Cayo Costa, Fla., one more insurance rating agency action added to the weight of the negative impacts hurling towards homeowners and businesses ...
Still Negative: S&P Isn’t Budging on Reinsurance Outlook
Since May 2020, S&P Global Ratings has had a negative credit outlook on the global reinsurance sector—and analysts said it isn't time to change that view during a webinar last week. Taoufik ...
Full-Year Commercial Lines Combined Ratio May Be Lowest in 15 Years: Moody’s
With commercial lines insurers expected to report the lowest full-year aggregate combined ratio in 15 years, together with double-digit direct premium growth, Moody's Investors Service announced a ...
Carriers Know What’s Coming: Higher Reinsurance Prices in 2023
Primary insurers surveyed by a Moody's Investors Service expect to pay more for both property and casualty reinsurance in 2023, but those willing to pay up for higher amounts of cover will likely ...
It’s Over: Lasting Underwriting Profits in U.S. D&O Market Unlikely, Fitch Says
Three years of soaring directors and officers liability insurance prices pushed combined ratios down to the mid-to-high 90s, but new entrants and potential claims volatility may spell trouble for ...
Judge’s Order: Credit Scoring Ban Finito In State of Washington
Earlier this week, Judge Indu Thomas entered the final order declaring that Insurance Commissioner Mike Kreidler exceeded his authority when he issued a permanent rule banning the use of credit-based ...
Georgia Insurance Commissioner Slams Allstate’s 25% Auto Rate Increase
The Georgia insurance commissioner is publicly shaming one of the country's largest auto insurers after the carrier announced an average 25 percent rate increase in the state. "I am angry and ...
Reinsurance Capital to Drop $40B: AM Best
AM Best estimates that traditional reinsurance capital will drop by roughly $40 billion to $435 billion at year-end 2022, after hefty jumps recorded in each of the prior three years. The projected ...