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USA Focus
News
Storms threaten US P&C sector's positive underwriting trend
Market held up well in 2020 despite significant cat losses
California and Washington push for TCFD climate reporting for US
Insurance associations remain lukewarm on "resource intensive" standard
Hippo appoints Rich Primerano as CRO
He is among raft of hires as company builds out insurance venture
Fed wants extension to the ICS monitoring period following Covid delays
International insurance rules still top of mind for US regulators, says Randal Quarles
NAIC's CEO says climate change is top priority for the body
The US authority will work with FIO on climate, but no quick fix to the problem
US insurers unfailingly poor on ESG, report finds
Lobby group report lays bare disparity between US and rest of world on climate
NFIP reform bills brought before US Congress
Republican congressman Blaine Luetkemeyer said the NFIP has been "mismanaged for decades"
US insurer paid $40m in cyber ransom after malware attack
CNA's is biggest ever disclosed cyber payment, says Bloomberg
Pushback expected for upcoming US flood risk model
The Risk Rating 2.0 system could mean significantly higher flood rates
US actuarial body reinstates consumer rate protection principles
CAS's earlier move seen as fuelling discriminatory rate practices in the P&C business
Analysis
No room for complacency in 2021 Atlantic hurricane season
Forecasters have predicted another "above-normal" hurricane season, although not as bad as 2020. But as the season gets underway, insurers and catastrophe modellers have stressed there is no place for complacency. Paul Walsh reports
Climate change could radically reshape US insurance losses
Re/insurers in the US could face a 20% increase in hurricane-related property losses because of climate change. But that's just the average. In certain regions, the losses might be several times higher by 2050, as AIR Worldwide's Peter Sousounis explains to Christopher Cundy
Lawyer says he has "smoking gun" in US business interruption case
John Houghtaling, who is handling $3bn in claims on behalf of small businesses forced to close by Covid-19, believes his case will be a watershed for the US BI saga. Sarfraz Thind reports
CROs pinpoint climate change as key issue for 2021
InsuranceERM's year-end poll of risk management experts found widespread agreement that climate change would be a key risk and opportunity for the insurance sector in 2021. Paul Walsh reports