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Car insurance in Britain is too expensive because of complexity in the claims process and a lack of incentives to keep costs down, according to the country's competition watchdog.
The NAIC Executive Committee meeting erupted into a biting referendum on the NAIC itself Monday, with Connecticut Insurance Commissioner Tom Leonardi motioning to hire an outside firm to conduct a corporate-governance review.
The NAIC Executive Committee meeting erupted into a biting referendum on the NAIC itself Monday, with Connecticut Insurance Commissioner Tom Leonardi motioning to hire an outside firm to conduct a corporate-governance review.
Insurance Australia Group Ltd (IAG) is set to become Australia's biggest insurer by market share after it agreed to buy the insurance underwriting businesses of Wesfarmers Ltd for $1.66 billion.
U.S. insurer American International Group Inc said it would sell its aircraft-leasing business to AerCap Holdings NV in a deal valued at about $5.4 billion.
The global insurance watchdog has launched a consultation on how to set up a new system making key firms hold enough capital to avoid a collapse that would pose a risk to the financial system.
The global insurance watchdog has launched a consultation on how to set up a new system making key firms hold enough capital to avoid a collapse that would pose a risk to the financial system.
Both the Senate and House last week rejected efforts to delay National Flood Insurance Program rate increases, making judicial action in federal district court in Gulfport, Miss. the last hope for those seeking to prevent the increases from taking effect in January.
Both the Senate and House last week rejected efforts to delay National Flood Insurance Program rate increases, making judicial action in federal district court in Gulfport, Miss. the last hope for those seeking to prevent the increases from taking effect in January.
Roy Woodall, the independent insurance expert on the FSOC, spoke critically of the council's approach to its review of insurance companies as systemically risky, saying it does not provide the necessary direction, clarity or transparency to stakeholders.
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