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The Fed said on Tuesday that Birmingham, Alabama-based Regions failed to properly monitor home equity loans and lines of credit, in part because of changes in servicing platforms.

Banks are holding their fintech partners to a higher compliance standard as regulatory scrutiny of banking-as-a-service increases.

In other news: Foresight, a workers' comp insurer, welcomes new commercial insurance underwriter.

The growth in market share comes as the national insurance program has instituted a risk-based pricing regime that's led to some fluctuation in rates.

The Paris-based insurance group, is in the final year of a strategic plan kicked off in late 2020 and is expected to unveil a new one in early 2024.

The deal is expected to be completed later this year, subject to regulatory approval. Marsh did not disclose the terms of the deal.

The use of catastrophe models and of sophisticated AI to make coverage decisions are all under debate.

AI-powered catastrophe and risk models use varied sources, including aerial imagery.

It can eliminate geographical barriers and allow teams to access and share data more freely.

The insurance industry will lose half its workforce between now and 2036 as almost 400,000 employees retire.