The Global Federation of Insurance Associations (GFIA) recently held its general assembly in Cape Town, South Africa, where it appointed Stephen Frank as its new president. Frank, who has over 20 years of experience in the financial services sector and has been the CEO of the Canadian Life and
The Prudential Regulation Authority (PRA) has proposed new regulations requiring large British life insurers to report their liquidity positions daily during market crises. This move comes in response to the information gaps identified during financial turmoil triggered by the global COVID-19
In a significant shift for California's insurance market, Farmers Insurance has announced it will resume offering multiple types of policies after a period of limiting new contracts and halting several insurance lines. This change comes as Farmers aims to ease the ongoing insurance crisis in the
Farmers Insurance has announced a significant expansion of its coverage options in California, marking a positive shift in the state's insurance market. This decision comes in light of substantial regulatory challenges and wildfire losses that previously led to market instability and increased
The recent regulatory roundup highlights various state-level legislative and compliance actions within the insurance sector across the United States, emphasizing insurance fraud, new regulatory initiatives, and significant compliance-related fines. This comprehensive summary aims to outline the key
In the aftermath of the Global Financial Crisis (GFC), regulatory frameworks like the Dodd-Frank Act were instituted to ensure financial stability and prevent systemic risks posed by large financial institutions. Central to these efforts was the Financial Stability Oversight Council (FSOC), tasked
