Risk Management

Agents for insurance companies may not be secret ones, but insurance and secret agents both take names and issue numbers. Policy numbers.

A report by the Government Accountability Office (GAO) has found that the state insurance regulatory system helped mitigate the negative effects of the 2007-09 financial crisis on the insurance industry. GAO also found that state insurance regulators continued efforts to strengthen the insurance regulatory system.

The National Association of Insurance Commissioners is taking deep offense to the latest perceived blow by the Financial Stability Board to the U.S. system of insurance regulation.

Hundreds of thousands of policyholders with Floridas last-resort insurer have a chance to return to the private market after an approval from regulators for 10 private carriers to assume policies.

The New York Department of Financial Services is asking Lloyds of London officials for details about an internal Lloyds market probe regarding potential violations by its managing agents of U.S. laws barring companies from doing business with Iran.

The number of policies in the U.S. residual market fell slightly in 2012 but demand remains highthreatening state finances and the pocketbooks of all residents.

The U.S. insurance regulatory system is in a state of major disrepair, an international body that monitors and makes recommendations about the global financial system said in a new report.

Many professionals are fending off the double-digit rate hikes that longtime underwriters of errors & omissions coverage are seeking, with many of those clients finding themselves able to negotiate flat or only slightly higher rates.