Following the deadly wildfires on the Hawaiian island of Maui, insurance carriers will face myriad challenges including supply chain complexities and demand surge for fire-resistant materials, according to industry observers.
Tag: insurance companies
Insurers Fume at NAIC Proposal that May Crimp Private Investments
A proposal by a unit of the National Association of Insurance Commissioners (NAIC), a consortium of state regulators that sets standards for the industry, would allow the group to override credit ratings assigned to some deals, in turn affecting how much money insurance companies could allocate to those deals.
Insurance Watchdog Weighs Overriding Credit-Rating Companies
The National Association of Insurance Commissioners is gearing up to challenge credit graders by overruling ratings on certain assets bought by insurance companies.
Property Insurers Curb New Policies in Cat-Prone Areas Nationally
Insurance companies are pulling back on homeowners’ policies in vulnerable areas nationally out of fear of floods, storms and fires made worse by climate change and soaring costs of rebuilding.
The Rise of MGAs Starting Their Own Insurance Companies
Fueled by COVID, hard market, tech, and unpredictable climate events, the insurance industry was already undergoing significant changes, and now we witness MGAs starting their own insurance companies and buying out existing brokers.
DOJ Antitrust Chief Warns S&P Global Over Insurer Ratings Tweak
The Justice Department said S&P Global Inc. should “carefully consider” a proposed change to how it evaluates the creditworthiness of bonds owned by insurance companies, warning that such a change “could raise significant concerns” under US antitrust law. In a letter dated last Friday, the Justice Department’s antitrust division stated that S&P, the world’s largest… Continue reading DOJ Antitrust Chief Warns S&P Global Over Insurer Ratings Tweak