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USA Focus
News
Investor expresses concern over lack of insurer climate disclosure
Zero visibility on fossil fuel underwriting, says Green Century
Fema defends Risk Rating 2.0 flood model from criticism
But new model does not look to future climate change predictions
Aflac discloses up to $20bn earnings hit from LDTI
No change to ratings from announcement, says S&P
Manulife reinsures $22bn US annuities block
Deal with Venerable Holdings will free up $2bn of capital
NYDFS becomes first US regulator to issue climate guidance for insurers
Insurers expected to ramp up their climate risk oversight functions by next year
NAIC to issue redesigned climate survey as it defends progress
The US is pushing its insurers to match the efforts of European peers
Insurers decry California's proposed wildfire model regulations
Industry argues wildfire insurance rules will stifle innovation and hit participation
Mandatory climate reporting to become the norm, says Kreidler
US climate disclosure survey is argued to be ahead of "more progressive nations"
US cyber market grew 29% in 2020 but remains miniscule overall
The cyber line accounts for just 0.4% of overall P&C premiums, NAIC finds
Lemonade plugs risk management benefits of Metromile takeover
The digital provider says the acquisition will complement its car insurance product
Analysis
Social inflation: 800lbs gorilla or 80lbs monkey?
Casualty insurers are complaining about rising liability losses, driven by a litigious US culture and changing social attitudes. But could a far worse catastrophe be ahead of them? Sarfraz Thind reports
Insurers need innovative solutions to address climate change risks
Willis Towers Watson's Adhiraj Maitra and Matt Scott tell Cintia Cheong how innovation helps insurers understand climate change risks and why regulators are not the only stakeholders pushing for better risk management
Maurice Perkins: Transamerica's transatlantic negotiator
Transamerica's global head of government and policy affairs talks to Sarfraz Thind about US and international insurance regulation, Biden's tax reforms and the cultural differences that keep his job interesting
Talcott Resolution's Chris Abreu: handpicking the way to successful risk management
Paul Walsh talks to chief risk officer Chris Abreu to discuss the US life insurer's separation from The Hartford, the influx of private equity capital and the impact of Covid-19 on risk management