U.S. insurers should be proactive in developing improved solvency practices given the expected change in the regulatory landscape, said Donald Light, senior analyst for Celent insurance group.
The property and casualty industry faces an ongoing soft market, uncertain regulatory landscape, and possible health care reform impacts in 2010, an Ernst & Young outlook said.
A federal court ruling holding the Army Corps of Engineers--and, by extension, the U.S. government--liable for damage in New Orleans caused by Hurricane Katrina is unlikely to have much effect on the property-casualty industry.
The New York Insurance Association has filed a lawsuit accusing the state of imposing unfair assessments on carriers and using them to improperly fund non-insurance programs.
Twelve states saw their highway safety ratings slip in the 2010 Advocates for Highway and Auto Safety annual report card as some of the organization's model laws were updated for this year.
A trust formed to handle Chinese drywall damage claims for over 700 homeowners involving a bankrupt homebuilder has filed a federal lawsuit naming 14 insurers, seeking indemnification for their losses.
Due in large part to the struggling economy, insurance fraud of all kinds increased in 2009, and many fraud bureau budgets and positions were cut, according to a report by the Coalition Against Insurance Fraud.
The National Association of Insurance Commissioners has sent a letter to congressional leaders opposing the creation of a federal health choices commissioner.
The Independent Insurance Agents and Brokers of New York said the top issues on their legislative agenda this year are opposition to proposed producer disclosure regulations and changes to the state's workers' compensation system.
The National Association of Insurance Commissioners said it wants to continue discussions with two state lawmaker groups that have criticized its national commission proposal.