New York’s financial-services regulator told fellow watchdogs they are failing to address a “gaping regulatory problem” that he said allows life insurers to artificially inflate reserves. There should be tighter rules governing captives, the subsidiaries that some insurers use to …
Speaking at the National Association of Insurance Commissioners’ International Insurance Forum, Connecticut Gov. Dannel P. Malloy told a crowd of U.S. and international regulators and insurance representatives that when it comes to insurance regulation, states are “here are stay” and …
Maine Governor Paul R. LePage and Insurance Superintendent Eric Cioppa recently announced that the Bureau of Insurance now offers new online resources for consumers who want to compare auto and homeowners insurance policies. Regulators said downloadable copies of policy forms …
While Ohio has traditionally had some of the lowest auto insurance premium rates in the country, going forward some Ohioans may see their rates rising. That’s because an increase in the state’s minimum limit of coverage for financial responsibility went …
An industry group says Texas homeowners no longer are paying the highest insurance rates in the country, a distinction that now goes to Florida residents. The National Association of Insurance Commissioners has released its annual report showing that while premiums …
Holding automobile insurance regulation in California as an example, the Consumer Federation of America issued a report on Tuesday showing that auto insurance expenditures in America rose by 43 percent on average over the past quarter century. The report holds …
Alaska has implemented the State Based Systems, an electronic system owned by the National Association of Insurance Commissioners, it was announced on Monday. The purpose of NAIC’s SBS initiative is to provide a comprehensive, internet-based application for state regulators in …
State insurance regulators are drawing on the country’s founding principles as they resist international pressure to give the federal government a greater role in overseeing the industry. Ben Nelson, chief executive officer of the National Association of Insurance Commissioners and …
Liberty Mutual Insurance recently declared a 5 percent dividend for businesses participating in the Oregon Restaurant and Lodging Association Safety Group Dividend Property & Liability Program. The nearly $165,000 dividend is 5 percent of eligible earned premiums to be distributed …
Connecticut Insurance Commissioner Thomas Leonardi today announced that Connecticut-based insurance companies will now be required to complete the annual Climate Risk Survey that was initially adopted in 2009 as a voluntary report by the National Association of Insurance Commissioners (NAIC). …
