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The regulator examined carriers’ ability to model nat-cat and cyber events, with mixed results. -
The downgrades were linked to a reduction in CEA’s claims-paying capacity to 1-in-360 years, from 1-in-400 years, and reinsurance market challenges.
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The consultation is aimed at supporting the implementation of Blueprint Two’s digital solutions.
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The proposed reforms could free wholesale brokers from rules designed for retailers.
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The industry group has launched its first target-setting protocol.
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In a House of Commons Treasury select committee meeting, PRA CEO Sam Woods and Bank of England governor Andrew Bailey discussed proposed insurance regulation reforms with MPs.
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Senate Bill 2A addresses key concerns in the Florida property market, including one-way attorney fees and assignment of benefits, the ratings agency said.
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The regulator has implemented several changes, which it says will increase UK competitiveness and bolster participation in the UK’s ILS market.
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Florida has been seeking legislative reform amid a breakdown of the functionality of its insurance market.
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In a review of financial services firms’ D&I policies that highlighted shortcomings, the regulator said policies need to be holistic, and not generic.
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The state’s legislature has published its reform bill to be debated in the special session this week with wide-ranging reforms to tackle high litigation costs.
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The government will consult in Q1 2023 on pulling ESG ratings providers into the FCA’s perimeter.
