Category: National Insurance Regulation News and Updates
Jun 28, 2018
The global reinsurance industry demonstrated resiliency following the record level of catastrophe losses in 2017, as very strong capitalization and effective risk management enabled the sector to absorb the multiple hits from Mother Nature and broadly maintain financial strength. Favorable …
Jun 25, 2018
The American Insurance Association and the Property Casualty Insurers Association of America are in talks to merge their organizations into one trade association. The boards of the Washington-based AIA and Chicago-based PCI “believe there is great benefit in a more …
Jun 13, 2018
The federal government, seeking to protect itself from the growing cost of natural disasters, is borrowing a technique from the private sector and buying reinsurance. The Federal Emergency Management Agency, which started purchasing reinsurance last year for the National Flood …
Jun 13, 2018
Although the insurance industry may have had plenty of time to wrap its mind around managing physical property threats, what about the newly growing area of non-physical threats? Panelists at the 2018 PLUS Cyber Symposium, held in May in Chicago, …
Jun 11, 2018
Global commercial property/casualty insurance premiums were worth approximately $730 billion in 2017 and by 2021 will rise to almost $900 billion. U.S. commercial P/C insurance premiums were worth $274.5 billion in 2017 and are forecast to rise to $331.5 billion …
Jun 7, 2018
Insurers in the cyber insurance segment have enjoyed exponential growth in the market over the last 10 years, and that is expected to continue as the world becomes even more connected via the internet. But while the growth in business …
Feb 22, 2018
The Georgia Office of Insurance and Safety Fire Commissioner advised yesterday, February 21, 2018, that it is currently conducting an examination to uncover the scope of insurer surcharges relating to multi-vehicle not-at-fault accidents. “It has come to my attention that …
Feb 12, 2018
National experts will share innovative strategies in recovering from tornadoes, wildfires, flooding, hurricanes and more at the 2018 National Tornado Summit. The 7th annual event will be held Feb. 26-28 in Oklahoma City.
Feb 8, 2017
New Jersey Insurance Commissioner Richard Badolato issued an order today, February 8, 2017, that, effective April 17, 2017, all providers treating patients being treated under Personal Injury Protection insurance coverage must use designated Uniform Pre-Service and Post-Service Appeal forms …
Jan 23, 2017
California Insurance Commissioner Dave Jones announced today, January 23, 2017, that the California Supreme Court affirmed his authority against a major insurance industry legal challenge to a 2011 regulation establishing specific requirements governing replacement-cost estimates. The Rule decreed that …