regulatory compliance News

Top 10 Reasons P/C Insurers Run Afoul of Regulators’ Market Conduct Exams

Claims errors continue to be the most frequent reason that property/casualty insurers are cited by regulators when responding to market conduct complaints or during routine examinations, according to a report by Wolters Kluwer Compliance Solutions. Kathy Donovan, lead researcher for …

Canada’s OutsideIQ & SAP Ariba Partner to Assess Risk, Compliance

OutsideIQ, a Canadian startup which uses cognitive computing to analyze data, is partnering with the world’s largest business commerce network, SAP Ariba , to help corporations quickly screen vendors for risk and regulatory compliance, they said. Companies spend a significant …

Surplus Lines Office: Compliance Required after Essex/Evanston Merger

The Surplus Lines Stamping Office of Texas (SLSOT) is alerting surplus lines insurance professionals in the state that due to the merger of Markel companies Essex Insurance Co. (Essex) into Evanston Insurance Co. (Evanston) on June 30, 2016, Essex has …

Honda Admits Not Reporting U.S. Claims; Could Face Record Fine

Honda Motor Co. said it failed to report more than 1,700 claims of injury or death involving its cars to U.S. regulators, a violation that would be one of the biggest in history and could lead to a fine of …

Top 10 Market Conduct Issues for P/C Insurers

A review of state insurance regulators’ examinations of U.S. property/casualty insurers shows that claims-handling, underwriting and producer requirements continue to be the top criticisms. According to compliance and risk management firm Wolters Kluwer Financial Services, the data compiled for its …

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 …