state insurance regulation News

Top 10 Market Conduct Complaints by Regulators Against P/C Insurers

Failure to handle claims within specified time frames and using unapproved forms and rates are the top two criticisms of property/casualty insurers by market conduct regulators, according to a new report. Waltham, Mass.-based Wolters Kluwer Financial Services reported its annual …

G20 Urges U.S. to Centralize Insurance Regulation

The United States could improve how it spots and prevents risks in the financial system from turning into destabilizing crises, a global regulatory task force said on Tuesday. The Financial Stability Board (FSB) said the world’s top insurance market could …

Only 11 States Have Moved on Obamacare Health Regulations

Only 11 of the 50 U.S. states have moved to implement new consumer safeguards under President Barack Obama’s healthcare law, raising questions about how major health insurance reforms will be enforced, a report released on Friday says. The report by …

RIMS Tells Treasury: Industry Needs More Uniform, National Regulations

A major group for risk management professionals sent a letter to the U.S. Treasury Department, asking for a bigger federal role in regulating insurance. The Risk and Insurance Management Society sent its letter to Michael McRaith, director of U.S. Treasury’s …

Insurance Groups Laud State Regulators’ Action to Reduce Reinsurance Collateral

State insurance regulators have approved a new model law and regulation on credit for reinsurance that allows some foreign reinsurers to post reduced collateral. The new rules and regulations, which have taken 12 years to complete, would – if adopted …