The agency is offering buyouts and early retirement incentives for employees, with layoffs possible if targets aren't met, as part of the Trump administration's overall downsizing of the federal government.

Consumer Watchdog argues that California's insurance commissioner cannot allow the FAIR Plan homeowners insurance of last resort to pass on half a $1 billion assessment to consumers.

AB 226, a borrowing mechanism bill passed by the state assembly, allows bond issues supporting the homeowners insurer of last resort – but doesn't specify traditional financing or catastrophe bonds. Cat bonds would not have to be paid back. Also, a climate finance policy advisor said, the bill doesn't account for future disaster risks.

Homeowners who invest in wildfire mitigation measures get no guarantee of breaking even in the form of premium discounts, an insurance attorney points out.

A bipartisan group of representatives co-sponsored the bill, aiming to make permanent and expand eligibility for a deduction previously offered for 14 years.

The McCarran-Ferguson Act was enacted in 1945 and regulates insurance at the state level to create a competitive market.

An administrative law judge began hearings on an interim emergency homeowners insurance rate increase by State Farm General, the insurer's California unit. Attorneys for State Farm say the company's finances require the increase, to keep insurance available in the state. Opponents say only risk is a valid reason, not protecting the insurer's finances.

DORA applies to roughly 22,000 entities in the EU and violators can face fines of up to 2% of gross revenue.

With the uncertain status of the federal disaster response agency and NOAA climate and weather forecasting and research, NAIC hears about how disaster relief could depend on volunteer organizations, and difficulty getting storm and climate predictions.

The issues are hindering the Federal Deposit Insurance Corp.'s ability to meet its regulatory duties, according to the agency's Office of Inspector General. 

Compliance professionals working to prevent financial crimes are losing their faith in AI to solve more problems than it causes.

While the 22% average increase for homeowners insurance is provisionally approved by California's regulator, the carrier will have to get capital from its parent company to help cover its risks.

As the number of underwriting rules increases, they create a maze of redundant and sometimes conflicting conditions.

Climate events drive up claims and premiums, federally published data and state regulators efforts show. While some say more climate mitigation efforts are needed, insurers' efforts to write coverage are questioned.

The Financial Integrity and Regulation Management Act would stop prudential regulators from writing rules or guidance that involve any use of reputational risk in supervision.

The report, based on home insurance price and availability data collected by the association of state regulators from private insurers last year, confirms rising costs and non-renewals, and the impact of climate change on these increases. The U.S. Treasury's insurance office stopped short of publicly releasing the data used for the report.

The consortium of businesses intends to work with state regulators to protect consumers as interest from secondary market investors also grows.

A proposal to tie cancellation of private mortgage insurance policies to automated valuation models would add unnecessary risk to mortgage portfolios and would result in less, not more, affordable housing.

The Trump administration's nominee to lead the Consumer Financial Protection Bureau, Jonathan McKernan, is seen as an institutionalist with a deep knowledge of policy. But whether he keeps the bureau shuttered or rebuilds it is uncertain.

The North Carolina Rate Bureau, representing home insurers, settled for two 7.5% increases this year and next, after originally seeking a 42% rate increase. NCRB says the settlement just postpones the need for higher rates to accurately cover risks, while the insurance commissioner calls it "a big win" for homeowners.