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