Regulation & Compliance
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 ...
Why a framework to build agents is necessary, but not the same thing as AI doing insurance work. Almost every...
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 ...
What Disclosures of Audit Firings Mean About Restatement Odds: Nothing
Mandatory Securities and Exchange Commission disclosures about the reasons behind auditor firings are useless for assessing whether restatement trouble lies ahead for the company, according to new ...
Bias Education Required For Actuaries Issuing Statements of Opinion
The American Academy of Actuaries has revised the qualification standards for actuaries who issue statements of actuarial opinion (SAOs) in the United States, the association announced this week. The ...
Stable Market Outlook for U.S. Personal Lines Heading Into 2022: AM Best
The U.S. personal lines insurance industry has earned a continued AM Best market segment outlook of stable heading into 2022 due to strong fundamentals in the sector, the ratings entity said in a new ...
China Issues Tougher Risk Management Rules for Insurance Groups
China's banking and insurance regulator on Tuesday issued new rules governing the risk management of insurance groups, which will step up supervision, limit holdings of non-core units and regulate ...
China Rules Target Perpetual Bonds Issued by Insurers
China's central bank and banking and insurance regulator issued draft rules on Friday on the issuance of perpetual bonds by country's insurance companies. The new rules aims to improve the capital ...