Regulation & Compliance
Hallmark Financial Calls Off IPO Plans for Specialty Commercial Biz
Hallmark Financial Services, Inc. announced on Thursday that will no longer actively pursue a previously announced separation of its specialty commercial business segment and will not proceed with an ...
Idaho Commissioner Cameron to Lead NAIC in 2022; Other Officers Named
During the Fall 2021 National Meeting last week, Idaho Insurance Director Dean L. Cameron was elected 2022 of the National Association of Insurance Commissioners, and Missouri Insurance Director ...
Florida’s Citizens Seeks Maximum Rate Hike for Homeowners
The board of governors for Citizens Property Insurance Corp., Florida's state-backed insurer of last resort, wants the maximum allowed rate increased – 11 percent for next year and 12 percent for ...
NAIC Forms New Committee on Innovation, Cyber, Emerging Tech
Members of the National Association of Insurance Commissioners voted on Dec. 16, 2021, to form a new Innovation, Cybersecurity, and Technology (H) Committee to address the insurance implications of ...
Judge Asks Who’s to Blame If Employee ‘Goes Rogue’
As the five-week trial of a Credit Suisse Group AG life insurance unit began to wind down last Thursday afternoon, the presiding judge cut to the chase. Lawyers for Credit Suisse Life (Bermuda) Ltd. ...
Financial Council Warns Climate Change, Stablecoins Are Systemic Risks
Climate change, the rapid growth of "stablecoins" and financial innovations that led to frenzied trading of GameStop Corp shares early this year are threats to the U.S. financial system that merit ...
Canada’s Co-operators General, Sovereign General Earn AM Best Ratings Upgrades
Ratings agency AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings to "a" (Excellent) from "a-" (Excellent) of Co-operators ...
Tornado Losses Will Dent P/C Earnings, Not Capital: AM Best
For now, rating agency AM Best believes that property/casualty insurers will be able to absorb losses from the recent outbreak of 30-plus tornadoes across five U.S. states, but coexisting economic ...