News

Establishing a national regulator responsible for overseeing solvency and insurance pricing and products would help fix the "critical shortcomings" in the property-casualty insurance industry's current state-based regulatory structure, a report says.

The New York State home insurer of last resort said it will expand offerings by offering coverage for a wide variety of additional perils it does not currently insure.

Independent agents and brokers who have customer trust can flourish in the current insurance marketplace, a producer trade group president advised at a recent industry conference.

Insurers are not currently contesting directors and officers' legal defense claims related to the Bernard Madoff pyramid scheme, but carriers are examining proceedings to see if they can stop payments, legal experts said.

SAS has introduced the SAS Fraud Framework, which includes components that support detection and alert generation, alert management, and case management and includes the new SAS Social Network

A unit of European Union reached informal agreement yesterday on Solvency II, a broad framework to enhance insurer capital requirements and supervision. The action drew a positive response with some reservations from some insurance segments.