Regulation & Compliance
Global Regulators Rethinking How to Assist Risks in Large Insurers
Global regulators are rethinking how to assess risks in big insurance companies, marking a shift that could make life easier for the industry. The Financial Stability Board said on Tuesday it could ...
China Issues Sweeping Rules to Regulate $15 Trillion in Asset Management Products
China's central bank on Friday issued sweeping guidelines to tighten rules on asset management business, the latest step by Beijing to fend off systemic risks in the country's rampantly growing ...
Solving Financial System Cybersecurity Challenges Won’t Happen With Regulation: Fed Official
More rules may not be the best answer to protecting the financial system against cyber attacks, a Federal Reserve official said. "I don't think the solution to the cybersecurity problem rests in ...
AmTrust’s Financial Plans Earn A.M. Best Ratings Review With Negative Implications
AmTrust Financial Group's recent efforts to raise capital and stabilize its finances apparently aren't enough for A.M. Best, which placed the company's credit and financial strength ratings under ...
Whistleblowers Delay Reporting Fraud If Financial Reward Promised: Study
Financial awards can unintentionally discourage a whistleblower from reporting fraud in a timely manner by hijacking their moral motivation to do the right thing, according to a new study by ...
UK Regulator Launch Investigation of Wholesale Insurance Brokers
Britain's financial services industry regulator is to launch later this week a long-promised investigation into competition in the wholesale insurance broking market, where one top executive has ...
First Commercial Carrier Approved in California to Sell Cannabis Insurance
Since last year, Californians are allowed to grow and possess marijuana. Now, the most populous U.S. state has taken another step to bolster the cannabis business by deciding to give insurance cover ...
Commercial Insurance Reserve Charge, Hurricanes Drive $1.7B Loss for AIG’s Third Quarter
Highlighting the development as a "noteworthy item" in an earnings announcement Thursday night, American International Group reported prior-year loss reserve strengthening of $836 million before ...