The National Association of Insurance Commissioners (NAIC) has finalised a climate-adjusted reporting requirement aimed at providing regulators with a clearer view of insurers’ climate-related exposures.
Regulation
EU regulators have thrown their support behind the creation of a pan-European disaster recovery fund and reinsurance pool to address rising natural catastrophe risk in the region due to climate change.
Lloyd's has hosted UK chancellor of the exchequer Rachel Reeves and secretary of state for business and trade Jonathan Reynolds to mark the inaugural meeting of the government's industrial strategy advisory council.
California insurance commissioner Ricardo Lara has enforced his catastrophe modelling and ratemaking regulation, which is a central part of his Sustainable Insurance Strategy to increase coverage in wildfire-distressed areas of the state.
Efforts to repeal the Federal Insurance Office have been simmering ever since it was established as part of the Dodd-Frank Act in 2010, and under Donald Trump’s second presidential administration, they may prove successful.
The global economic and financial market outlook is in a "state of flux" heading into 2025, according to new commentary from Zurich, with significant risks arising from diverging growth trajectories and persistent inflationary pressures.
France has led new captive formations across Europe in 2023 and 2024, according to a new market segment report by AM Best.
Bancassurance may soon see a resurgence in Europe thanks to an obscure accounting quirk due to take effect in January 2025 which is expected to fuel deal-making between banks and insurers, according to market sources.
European insurers have welcomed the agreement reached by the International Association of Insurance Supervisors on its insurance capital standard project.
Changes to the UK personal injury discount rate (PIDR) should be positive for the country's non-life insurers, AM Best has said, adding that the move should ease pressure on non-life underwriting results.
The International Association of Insurance Supervisors has adopted the insurance capital standard, the first comprehensive global capital standard for insurance supervision.
The London insurance market is abuzz following the launch of a trio of UK government consultations, with the moves heralded as a significant step forward for the industry.
The increase in the Ogden rate to 0.5 percent from minus 0.25 percent will be credit positive for insurers writing bodily injury-exposed business such as motor third-party liability, according to Moody's.
New York's insurance regulator has moved to block a personal disaster insurance product due to its parametric-like characteristics, Parametric Insurer can reveal, while the state's governor is set to review a bill that would authorise specific types of parametric insurance.
Fortegra has been handed approval by the Prudential Regulation Authority (PRA) to establish Fortegra Insurance Company UK, its new subsidiary in the United Kingdom.
