Regulation/Legislation

In the event of a mass-casualty accident involving the derailment of a crude-carrying train in a densely populated urban area, who would be responsible for the compensation for deaths, injuries, damage to property and environmental clean up?

Allowing scheduled National Flood Insurance Program rate increases to move forward would be a critical first step toward attracting private insurers to the flood-insurance market, says the Government Accountability Office.

Mondays expected launch of Citizens Property Insurance Corp.s Property Insurance Clearinghouse in Florida will moderately increase private- and capital-market reinsurance demand and should modestly help lower the last-resort insurers policy count, according to Fitch Ratings.

Mondays expected launch of Citizens Property Insurance Corp.s Property Insurance Clearinghouse in Florida will moderately increase private- and capital-market reinsurance demand and should modestly help lower the last-resort insurers policy count, according to Fitch Ratings.

Rate filings show PIP premiums have dropped an average of 13.2%below the 25% target envisioned in HB 119, but a welcome outcome for the OIR and insurers.

The U.S. risk council is looking to determine whether Warren Buffett's Berkshire Hathaway Inc could be systemically important, a tag that would subject it to stricter regulatory oversight, Bloomberg reported, citing two people familiar with the matter.