Risk

Despite catastrophe losses of $20 billion in the first half of this year, reinsurance market rates on line (ROLs) continue to be driven by an influx of capital from third-party investors at the July 1 renewals, according to a report from Guy Carpenter & Co. LLC, a global risk and reinsurance specialist.

The council now has 30 days to schedule a hearing, according to the insurer.

Delaying the health insurance employer mandate mostly affects employers, experts say; health insurers continue to focus on exchanges.

The White House on the evening of July 2, in a blog posting from Valerie Jarrett, senior advisor to the President, announced it will suspend for one year reporting requirements in 2014 for larger employers to demonstrate compliance with a mandate to offer employees health insurance coverage, and not enforce financial penalties for larger employers that fail to comply until 2015, one year later than authorized in the Affordable Care Act.

Declining U.S. property rates and reinsurers' desire to maintain their market positions is spilling over into other classes, according to a report from Willis Re.

P&C impairments see significant drop from the 34 reported for 2011; however, auto writers and risk retention groups continued to struggle, according to recent A.M. Best report.

Florida Commission certifies AIR’s latest models for residential and commercial residential properties in the state.

Workers' comp carrier seeks to improve risk selection, pricing accuracy with predictive modeling component of InsureRight.

Surveys from Towers Watson and IIS describe global insurance executives’ concerns and find much consistency across nations.

The insurer's vice chairman responds directly to a regulator's claim that insurers use captives to alleviate capital requirements.

State insurance regulators were among those who attended a private meeting hosted by the Federal Housing Finance Agency about alleged kickbacks and price gouging.

FIO emphasizes global responsibilities and opportunity for growth.

Comply solution designed to enable insurers to manage risk by automating regulatory change management processes.

Board members should raise nine critical questions when discussing technology strategy with IT and business managers.

Economic Scenario Generator will provide the interface for SunGard's risk management and modeling software.

SmartAdvisor designed to simplify medical reporting for meeting state compliance requirements.

Product designed to enable carriers to track circular changes, plan for implementation and analyze their potential impact.

AIG has previously stated that it would not oppose such a designation; Prudential has 30 days to decide whether it will appeal the decision.

While forecasts are calling for more major storm events in 2013, A.M. Best believes the industry as a whole is well-prepared to address potential catastrophic activity because insurers in the space have continually, actively engaged in risk management and taken action to address the growing frequency of such events.

CoreLogic’s 2013 findings reflect a significant increase over 2012 in both the number of total properties at risk, as well as total value.