USA Focus

News

Georgia insurance commissioner suspended over $2m fraud charges

Georgia governor signs executive order to immediately suspend Jim Beck

US cyber insurance growth rate slows

Year-on-year premiums climb just 8%

Georgia insurance commissioner charged with $2m fraud scheme

Jim Beck is alleged to have stolen the money from the Georgia Underwriting Association

Tennessee insurance chief steps down

Julie Mix McPeak will be replaced by her deputy Carter Lawrence on an interim basis

Monsanto ordered to pay over $2bn in glyphosate case

The pay-out is the largest glyphosate damages award to date

Mnuchin aims broadside at Insurance Capital Standard

US Treasury secretary spells out US concerns at NAIC’s international insurance forum

US variable annuities reform wins Moody's approval

The rating agency views the reform as credit positive

California blaze losses hit $12bn

Claims at the beginning of 2019 contributed over $600m to total insured losses from the Camp and Woolsey fires

Senate bill proposes state insurer vote on FSOC

PRIVA addresses need for insurance representation on Financial Stability Oversight Council

California insurance commissioner Lara slammed by consumer group

Lara is given a “D” report card rating for poor environmental and social policies

Analysis

International capital standards: the US's chorus of disapproval

Development of the global insurance capital standard (ICS) has always been controversial. But the level of ire expressed by the US government, regulators and insurers at this week's NAIC conference was unprecedented. Sarfraz Thind reports

Glyphosate, opioids and talc - candidates for the next asbestos?

Claims relating to asbestos exposure caused a catastrophic level of losses for the insurance industry. What is the potential for the scenario to be repeated by other chemicals and compounds? Paul Walsh reports

LDTI: a challenge even for the most well-prepared

The US long-duration targeted improvements (LDTI) accounting change is one of the most complex accounting developments ever to hit the US insurance industry. EY's Evan Bogardus and Chad Runchey tell Sarfraz Thind about the implications of the new standard and - why it is so taxing for insurers

What is stalling the growth of the patent insurance market?

In his fourth article on insuring intangible risks, Tim Freestone investigates the limitations of the patent protection markets and how growth could be stimulated

Insurers rank their most dangerous risks for 2019

Dave Ingram and Mark Mennemeyer discuss the results of their poll on which risks are considered most dangerous to insurers