The financial services regulatory reform measure passed by Congress yesterday, which contains parts of more than 25 different bills, includes a provision on international insurance regulation that is being met with cheers by the insurance industry. This bill, which rolls …
Concerns over price optimization are leading regulators to think carefully about the implications of longstanding practices in insurance rating, including premium “caps” on policy renewals for individuals, households and small businesses, according to one regulator. Charles Angell, deputy commissioner and …
The effort to replace Obamacare faces increasing challenges, the more it is subjected to the harsh light of scrutiny. A good example is the proposal, apparently central to the Republican replacement plans, to allow people to buy health insurance across …
New York state announced a final cyber security regulation on Thursday with mandatory standards for banks and insurers to combat the ever-increasing risk of cyber attacks. The regulation, which takes effect March 1, follows a series of high-profile data breaches …
All but four states and the District of Columbia address the insurance carrier’s duty to notify an insured of its renewal plans. This is known in insurance circles as the “conditional renewal” notification requirements. Conditional renewal statutes and administrative rules …
If Congress fails to agree by midnight tonight on a resolution to continue funding the federal government, the property/casualty insurance industry should not be seriously affected by the resulting shutdown. The insurance industry is not totally immune to the economic …
State insurance regulators are drawing on the country’s founding principles as they resist international pressure to give the federal government a greater role in overseeing the industry. Ben Nelson, chief executive officer of the National Association of Insurance Commissioners and …
Florida’s second largest property insurer is being hit with a fine of nearly $1.3 million. Florida Insurance Commissioner Kevin McCarty announced that his office was assessing a fine against Universal Property & Casualty Insurance Co. Universal has roughly 542,000 policyholders …
A divided auto insurance industry will try again next year to change a unique regulatory system in North Carolina, which enjoys some of the lowest rates in the country. The industry will use the argument that average costs are low …
Two weeks ahead of an election deciding whether he keeps his job, North Carolina’s insurance commissioner told companies they’ll have to prove they should be allowed to increase homeowner’s premiums by a statewide average of 17.7 percent. The move by …
