Articles by Andrew G. Simpson

Insurance Agents Assured of Trump Pass-Through Tax Break Under Final Treasury Rule

The U.S. Treasury today issued final regulations and other guidance on a provision of the Tax Cuts and Jobs Act that allows owners of sole proprietorships, partnerships, trusts, and S corporations to deduct up to 20 percent of their qualified …

Learning by Doing and Undoing: Insurtech Pilots and Pivots

“If you can’t admit a failure, you’re not an entrepreneur. You are not a good business person. There’s nothing brilliant about what you are doing.” –Mark Cuban Insurtechs are great for the industry because it needs to change to be …

How Big Tech Flirted with Insurance in 2018

The almost weekly headlines about insurers and venture capitalists investing in insurtechs and tech-savvy insurance startups sometimes blocked the view of what established big technology firms were doing in insurance. During 2018, giant technology firms Google and Amazon showed renewed …

P/C Insurer Trade Groups AIA and PCI Agree on Merger, New Name Starting Jan. 1

Members of the Property Casualty Insurers Association of America and the American Insurance Association have approved a merger that takes effect Jan. 1, 2019. The combined organization is set to have a new name, the American Property Casualty Insurance Association, …

Insurance, Banking Groups Balk at Limits on Flood Insurance Operations During Shutdown

As indicated by a report by Insurance Journal over the holidays, the Federal Emergency Management Agency (FEMA) is limiting the authority of the nation’s flood insurance program to issue new and renewal policies during the federal government shutdown. The insurance …

President Signs Flood Insurance Extension But Government Shutdown Could Limit Operations

On Friday, December 21, 2018, President Trump signed into law a measure reauthorizing the National Flood Insurance Program until May 31, 2019. The flood program was set to expire at midnight on Dec. 21. However, the partial federal government shutdown …

AIG Arranges First CLO Deal Since Financial Crisis

American International Group Inc. has returned to the red-hot collateralized loan obligation market as an asset manager with its first sale since the financial crisis. The $500 million transaction is being arranged by Credit Suisse Group AG, and its most …

What Insurers Want and Get from Insurtech Partnerships

Remember the scene in the 1989 movie When Harry Met Sally? During lunch with Harry at a deli, Sally very publicly fakes a wild orgasm. A nearby patron, when asked what she’d like to order, signals in Sally’s direction and …

Analysts Weigh Chances Next Congress Will Actually Reform Flood Insurance

With the clock ticking on the National Flood Insurance Program’s authorization that is set to run out this Friday, Nov. 30, Congress is expected to renew the program short-term by taking one of several routes: passing a bill to extend …

Exclusive: Insiders Symington, Lehmann Analyze Mid-Term Elections for P/C Insurance

The voters have spoken. Republicans have increased their slight advantage in the Senate, while Democrats have flipped the House and will now be in control there. Of course, President Trump, a Republican, still occupies the White House. Now what? What …