Ten years ago, on April 15, 2013, two brothers placed pressure cooker bombs near the finish line of the Boston Marathon. The devices detonated within seconds of each other, killing three people, injuring more than 260 others, and causing property …
In a letter to the Treasury’s Federal Insurance Office, the National Association of Insurance Commissioners expressed its “deep concern” over a proposal to collect data on climate-related risks from property and casualty insurers, and its disappointment that insurance commissioners have …
RIMS said it issued a comment letter to the Federal Insurance Office in response to legislative dialogue regarding a federal backstop for large-scale catastrophic cyber incidents impacting infrastructure. RIMS indicates that risk professionals would likely support a well-crafted federal cyber …
Shortly after Treasury’s Federal Insurance Office (FIO) proposed to have P/C insurers submit homeowners insurance underwriting data to assess climate risk, the response from industry trade associations was, at best, tepid. “You don’t need a massive data collection to know …
In a season of daunting wildfires and flooding, the Biden administration is taking an initial step to assess how climate change could harm financial markets with the launch of a 75-day comment period on how the impacts could reshape the …
The U.S. Department of the Treasury has announced that the Federal Insurance Office (FIO) is requesting information and soliciting public comment on the insurance sector and climate-related financial risks. FIO said the responses to the request for information will help …
Ohio Department of Insurance reported that Director Jillian Froment has been appointed to serve on the Federal Advisory Committee on Insurance (FACI). The committee provides advice and recommendations to the Federal Insurance Office (FIO). FACI was established in 2011 to …
Congressional efforts to curtail the federal government’s involvement in insurance regulation continue this week as a House panel is scheduled to consider a measure to trim the sails of the Federal Insurance Office (FIO). Rep. Sean Duffy, R-Wisc., chairman of …
With no sign of a replacement in the works, the U.S. insurance industry is pushing to prevent the departure of a key figure on the federal body that determines how large insurance companies are regulated. Roy Woodall, the sole independent …
Michael McRaith, who has served as director the Federal Insurance Office since its creation in 2011, is resigning his post as of Jan. 20. as the Trump Administration begins. McRaith announced his plan to leave the agency during a Jan. …
