The U.S. Treasury late last week backed off a plan to have the Federal Insurance Office (FIO) collect data on climate-related risks from property/casualty insurers—an outcome that had been sought by the insurance industry since the proposal was published in …
Federal legislation introduced last week that would require insurance companies with more than $100 million in annual premiums to disclose investments and underwritings related to coal, oil and gas projects, and fossil fuels is already required at the state level …
Shortly after Treasury’s Federal Insurance Office (FIO) proposed to have P/C insurers submit homeowners insurance underwriting data to assess climate risk, the response from industry trade associations was, at best, tepid. “You don’t need a massive data collection to know …
The National Association of Mutual Insurance Companies announced that Charles Chamness, the chief executive officer of the organization, is retiring from the post he held for nearly 17 years. The official announcement came this week on the final day of …
While the race to automated vehicles picks up speed, a new survey reveals consumer are skeptical of the technology and the safety claims of its advocates, a new survey finds. Also, the insurance industry may be in the best position …
Florida lawmakers have once again let slip an opportunity to address insurance claims abuse, as legislation failed to make it through the Senate before the 2017 legislative session ended Friday. This is the fifth consecutive year that a bill on …
The new chairman of the National Association of Mutual Insurance Companies is Steve Linkous, president and CEO of Bel Air, Maryland-based Harford Mutual Insurance Companies. In his address at the group’s annual convention in Vancouver, Linkous urged members to seize …
The constitutionality of Oklahoma’s workers’ compensation alternative, the Oklahoma Option, which was established in the 2013 overhaul of the state’s workers’ comp system, is currently being challenged in an appeal to the state Supreme Court. The Oklahoma Employee Injury Benefit …
Insurers could soon be able to deploy drones for speedier response to natural disasters under a provision in legislation reauthorizing the Federal Aviation Administration passed by the Senate Wednesday. “The process called for in this legislation represents a vital step …
Property/casualty insurance trade groups, the American Insurance Association (AIA) and the National Association of Mutual Insurance Companies (NAMIC), have submitted testimony to the Minnesota Legislature in opposition to a proposed auto insurance regulation bill the groups say is misguided. According …
