News

Shortly after industry lawyers called conflicts over the scope of the Financial Stability Oversight Council the “cutting-edge issue” for insurance regulation, an industry report labeled the Federal Insurance Office the “biggest wildcard” in regulatory reform.

The industry should “stay tuned” as the revised catastrophe model from Risk Management Solutions rolls out, the CEO of RenaissanceRe told NU, describing the model changes and potential market impacts as meaningful.

Despite the size of its nonlife insurance market, Japan insurance penetration is very low, particularly in commercial and industrial lines, said modeler Risk Management Solutions.

American International Group has offered to buy mortgage-backed securities held by the Federal Reserve Bank of New York for $15.7 billion.

It is urgent that certainty be created in the National Flood Insurance Program by enacting a long-term extension of the program, insurance industry trade groups told Congress.

The Florida Office of Insurance Regulation has suspended the license of domestic automobile insurer Seminole Casualty Insurance Company, which has reported a negative surplus.