Regulation & Compliance
Root Debuts; Carrier’s Smartphone App Helps Good Drivers Get Cheaper Rates
Root officially debuts in the U.S. market on Oct. 25. The fledgling auto insurer, just 18 months old, relies on telematics and a customer's smartphone to deliver what it says will be significantly ...
Carrier Climate Change Risk Disclosure Has Improved: Ceres Analysis
Insurers in the United States are increasingly willing to disclose their risk management practices related to climate change, according to a new report suggesting that last year's global accord in ...
For years, the insurance industry has been working to reduce the friction that slows down underwriting, claims, and servicing. Now,...
Will Big Data, Social Networking Scores Remove Risk-Sharing From Insurance?
When people take to Twitter to comment on the great evening they enjoyed with good food and wonderful friends, reducing their monthly insurance bill is probably the last thing on their mind. But such ...
Munich Re Gets A.M. Best Ratings Affirmation for Resilience in Tough Market
As the global reinsurance market trudges on with heavy competition, consolidation pressures and low interest rates, Munich Re has held its own. For that reason, A.M. Best affirmed its financial ...
U.S. Regulators Urge Banks to Boost Cyber Security Standards
U.S. bank regulators on Wednesday outlined cyber security standards meant to protect financial markets and consumers from online attacks against the nation's leading financial firms. Leading banks ...
Rand Analyzes Impact of WC Reforms, Eco Downturn on Calif. Workers
Will workers compensation benefits from California's sweeping reform law passed in 2012 help or hurt injured employees over the next four years? Some people didn't want to wait until 2020 to answer ...
Not All ‘Optimization’ Is Price Optimization; Allstate’s CGR Proves It
"The purpose of price optimization is to extract as much profit as possible from policyholders, who are often required to purchase insurance policies," according to a February 2015 press release from ...
An Accident of the Rating Process: Allstate’s Cure Explained
In Part 1 of this article series, I described cost-based pricing used by actuaries, which includes business judgment—introducing differences between the technical price indication for a book of ...