Regulation & Compliance
Highlights of the Insurance Data Security Model Law
A draft of the Insurance Data Security Model Law was released by the Cybersecurity (EX) Task Force in March. Insurers and others have been commenting on the release through written letters and during ...
Ironshore Freed From A.M. Best’s ‘Under Review’ Status
A.M. Best has changed its mind about Ironshore, removing the Bermuda-based specialty insurer from its status as "under review with negative implications." A year after initially taking action, the ...
Lloyd’s Faces Post-Brexit Risks: Fitch Ratings
A British departure from the European Union generally won't harm the country's "resilient" property/casualty insurance sector, though there are some risks in play for Lloyd's members, Fitch Ratings ...
Margin of Loss Reserve Adequacy Down to 2%; Well May Run Dry: Conning
Loss reserves for the U.S. property/casualty industry are still adequate, but the fat was trimmed down to roughly 2 percent of overall carried reserves for year-end 2015, an analyst reported last ...
UK’s Insurance Act May Lead to More Intense Rate Competition: Fitch Wire
A new U.K. law, designed to make it harder for insurers to dispute commercial insurance claims, could lead to more intense price competition and slimmer margins for the sector, according to Fitch ...
New U.S. Drone Rules Open Skies for Low-Level Commercial Flights
The Obama administration is opening U.S. skies to more commercial drones with long-awaited regulations that the government hopes will spawn new businesses inspecting bridges, monitoring crops and ...
Berkshire’s Workers Comp Business Faulted by Calif. Regulator
California's insurance commissioner on Monday said a Berkshire Hathaway Inc. insurance business evaded a state law designed to protect small businesses from unexpected workers compensation costs. ...
Global Indemnity plc Redomesticating from Ireland to Caymans
Global Indemnity, plc announced Monday that its board of directors unanimously approved a plan to redomicile from Ireland to the Cayman Islands. Shareholders will be asked to vote in favor of ...