Tag: insurers

Regulatory / Legal

Insurers Must Physically Inspect to Confirm Damage Cited by Aerial Imagery

May 29, 2024

Via: Insurance Journal

The Pennsylvania Insurance Department (PID) is reminding insurers of their obligation to conduct a physical inspection to confirm the type and extent of damage to a roof supposedly evidenced by aerial imagery. The regulatory agency said it has received consumer […]

Risk Management, Trends

PRA sets out its supervision priorities for insurers in 2023

January 11, 2023

Via: JD Supra

The key areas of focus in 2023 will be: Financial resilience The combination of the on-going recession and high inflation provide a very challenging economic outlook for insurers. For life insurers, the PRA has identified the potential threat of firms […]

Regulatory / Legal

Connecticut Regulates ‘Defense Within Limits’ Provisions by Insurers

September 29, 2022

Via: Insurance Journal

Connecticut’s insurance regulator has provided commercial insurers with updated guidance on “defense within limits” policy provisions including the lines of insurance on which they may be included and the consumer disclosure required. The guidance from the Connecticut Insurance Department (CID) […]


Insurers, Brokers Among Those Named World’s Most Ethical Companies

March 22, 2022

Via: Insurance Journal

Two property and casualty insurers and two brokers were included within a list compiled by Ethisphere of the most ethical companies in the world. The 16th annual report from Ethisphere, a company that defines and measures corporate ethical standards and […]

Financial, Risk Management

Insurers Taking Battle with Commissioner to Washington Supreme Court

February 17, 2022

Via: Insurance Journal

Insurer groups this week sought to take their battle with Washington Insurance Commissioner Mike Kreidler to the Supreme Court of Washington. The American Property Casualty Insurance Association, the Professional Insurance Agents of Washington, and the Independent Insurance Agents and Brokers […]

Financial, Risk Management

State Farm $100 million refund – Supreme Court issues ruling

February 14, 2022

Via: Insurance Business

The Supreme Court of California has ruled that State Farm does not have to refund homeowners $100 million, after it denied appeals from both the state insurance commissioner and a consumer advocate group. In 2016, then-insurance commissioner Dave Jones deemed […]

Risk Management, Trends

Analysts predict another difficult year for insurers amid elevated cat claims

June 14, 2021

Via: Reinsurance News

Year-to-date, catastrophe claims look to be running 17% above the long-term average (2008-2020), leading analysts at Jefferies to forecast another difficult year for the global insurance industry. At more than $30 billion, YTD insured catastrophe losses also exceed the 10-year […]

Financial, Risk Management

Insurers “dodge a bullet” as renewal pricing spread too narrow

May 26, 2021

Via: Artemis BM

Primary insurers in Florida and elsewhere that are renewing their reinsurance programs for June 1st 2021 are set to come out of the renewal season largely unscathed, as reinsurance pricing faltered and came in below expectations, analysts at JMP Securities […]

Regulatory / Legal

COVID restaurant ruling may have wider ramifications for re/insurers: analysts

January 22, 2021

Via: Reinsurance News

Following a landmark pandemic business interruption (BI) ruling by an Ohio judge against Zurich American, analysts at KBW and Credit Suisse have warned that the case could have wider ramifications for the insurance and reinsurance industries. In the recent Ohio […]