Articles by Andrew G. Simpson

House Passes Bill to Assure Private Policies Satisfy Flood Insurance Requirement

The House of Representatives voted 264-155 today to pass bipartisan legislation that encourages the sale of private flood insurance in place of policies from the federal government in high risk areas where flood insurance is required. The bill would give …

U.S. and EU Sign Covered Agreement on Insurance Regulation

The United States and European Union have scheduled a ceremony for today for the signing of a bilateral agreement on prudential insurance and reinsurance measures. Both sides announced in July their intention to sign the agreement, also known as a …

Employer Leadership in Disaster Recovery and the Power of Return-to-Work

Businesses and their leaders have a unique role to play in helping communities and individuals recover from the devastation of a storm like Hurricane Harvey, and they should not underestimate the power of getting employees back to work and re-establishing …

Employers Expect Above-Average Rise in Cost of Employee Benefits in 2018: Mercer Survey

Employers expect that their average cost per-employee for health benefits will rise by 4.3 percent in 2018, which is above the average increase of 3 percent of the past five years. Early responses from Mercer’s National Survey of Employer-Sponsored Health …

Why the Federal Flood Program Is Sinking Deeper into Debt: CBO Report

The federal flood insurance program is on a course to continue falling deeper in debt, even when there is no catastrophic storm like Katrina or Harvey. The National Flood Insurance Program (NFIP) is currently on a path that will lead …

Small Businesses Can Manage, Cancel Own Policies with Next Insurance Portal

Digital small business insurance provider Next Insurance has unveiled a new online portal giving small businesses more control over their insurance policies. The portal offers what Next says are several unique insurance services, including the option to cancel a policy …

QBE Group CEO Neal to Exit; Regan to Succeed Him in January

QBE Insurance Group today announced that John Neal, Group chief executive officer, will be stepping down after five years in the role. The board of directors has appointed Patrick Regan, chief executive officer Australian and New Zealand operations and previously …

National Flood Insurance Program Extended Until Dec. 8

President Donald Trump last Friday signed legislation reauthorizing the National Flood Insurance Program until Dec. 8, 2017, which buys more time for Congress to consider reforms of the program. The NFIP was set to expire in a few weeks on …

Why Federal Flood Program Is Sinking Deeper Into Debt: CBO Report

The federal flood insurance program is on a course to continue falling deeper in debt, even when there is no catastrophic storm like Katrina or Harvey. The National Flood Insurance Program (NFIP) is currently on a path that will lead …

5 Reasons Cyber Security Is Failing and What P/C Insurers Can Do About It

Businesses are spending a small fortune on cyber security but what they are doing is not working very well, according to a cyber security expert who sees the insurance industry as a key to improving the situation. “We have a …