Regulation & Compliance
What State Insurance Regulators Say About Cybersecurity
In April, the Cybersecurity Task Force of the National Association of Insurance Commissioners adopted "Principles for Effective Cybersecurity: Insurance Regulatory Guidance," derived from similar ...
Guiding Insurance Professionals on NAIC’s New Cybersecurity Principles
In the wake of some of the largest insurance company data breaches, the National Association of Insurance Commissioners has followed on the heels of the Securities and Exchange Commission and has ...
Moody’s Says FASB’s Reserve Disclosure Update is a Plus for Credit Analysis; IFRS Differences Remain
In a Credit Outlook report published earlier this week, an analyst from Moody's Investors Service described an updated accounting standard related to property/casualty insurance loss reserves as a ...
Farmers Rolls Out Broad Ridesharing Endorsement for California
Farmers Insurance will become the first large California insurer to start offering a ridesharing insurance product on Thursday. In an announcement made at the Los Angeles office of California ...
Navigating Insurance Ratings: Fitch Unveils New Visualization Tool
Market position, capitalization, reserve adequacy and catastrophe risk management are among the factors that rating agency analysts consider when developing insurance financial strength (IFS) ratings ...
Florida High Court Nixes Applying Medical Malpractice Cap Retroactively
A 2003 law capping medical malpractice lawsuit awards at $500,000 can't be applied retroactively. That's what the Supreme Court ruled in a Miami-Dade County case in which a woman suffered permanent ...
A.M. Best Updates Capital Model Progress
With the rollout of a new capital model set for second-quarter 2016, A.M. Best analysts have made a key decision concerning a statistical metric they will use to calculate risk charges—a decision ...
The 10 Do’s and Don’ts of the ORSA Summary Report
2015 marks the beginning of a new era of regulatory requirements for the insurance industry as many states have now adopted the Risk Management and Own Risk and Solvency Assessment ('ORSA') Model Act ...