Verisk and Moody's are the first two modeling companies to submit their models to the California Department of Insurance. A Verisk executive explained the functioning of their model and what insurers' options are.

The adoption of AI applications is creating a need for regulation to protect against bias, data privacy issues, cybersecurity and other risks.

A multi-state coalition of insurance commissioners issued a joint letter to the Department of Government Efficiency advising the closure of the Federal Insurance Office.

For the third time in five years, the Office of the Comptroller of the Currency issued an enforcement action against the beleaguered bank. It bars USAA from adding new products or loosening its membership criteria without evaluating the risks of getting bigger.

Academics with opposing views argued, in a U.S. Senate Budget Committee hearing, whether inflation and litigation, rather than climate change, are causing home insurance non-renewals and rate hikes.

The Federal Deposit Insurance Corp. is considering suing former Silicon Valley Bank executives over risk management decisions, imprudent dividends and billions in losses that fueled a banking crisis in 2023.

The California Department of Insurance and its commissioner hosted a public workshop where consumer advocates and insurers staked their positions on who should pay for the net cost of reinsurance and why.

Numerous reports and lawsuits have criticized the health insurer for using algorithms to ramp up denials of coverage.

The agency cited the closeness of the entities to Florida's government.

Amid steady customer growth, USAA's banking arm failed to make the investments necessary to satisfy either its regulators or some decades-long customers. Changes in the executive suite haven't fixed the problems.

The new regulation could be a game changer for health plans, but employers must be prepared to expand their coverage.

California authorities issued their latest moratorium against non-renewal of residential property insurance after wildfires in Ventura County. It's the eighth this year and 34th since 2019. The state's insurance commissioner authored a law while a state senator to make these moratoriums automatic after a state of emergency.

Long and complicated cyber breach litigation can be prevented with proactive precautions and quick action against intrusions, say cybersecurity insurance experts.

Consumer Financial Protection Bureau Director Rohit Chopra said it is "fundamentally unfair" that uninsured depositors at Silicon Valley Bank and Signature Bank got a reprieve from regulators while those at First National Bank of Lindsay did not.

The growth in mobile banking has lowered barriers to accessing the banking system, but the Federal Deposit Insurance Corp.'s National Survey of the Unbanked and Underbanked released Tuesday reveals that minority households are still disproportionately underserved.

As part of its opposition to a proposed rate increase by State Farm, Consumer Watchdog criticizes a reinsurance deal as more expensive than paying wildfire claims.

The state's department of insurance started hearings in early October, but a decision about the rate increase is not expected until at least December, after a contested election for insurance commissioner.

At the Most Powerful Women in Banking conference this week, New York's top banking regulator said banks need to take full responsibility for the artificial intelligence models they use, even if they bought them from a third party.

The Federal Deposit Insurance Corp. projected its Deposit Insurance Fund reserve ratio is expected to reach the statutory minimum of 1.35% by 2026 thanks to slower-than-expected insured deposit growth and a $7.5 billion increase in the DIF balance.

Young British drivers who have just passed their test should be banned from carrying passengers of a similar age and should display special plates, according to the chief executive officer of the AA car breakdown service.