USA Focus

News

US policymakers backwards in embracing insurer climate models

Insurance has key role in educating on climate change, say industry participants in New York

Beijing to abolish foreign ownership cap for US life & health insurers

Chubb welcomes deal terms while deal document might have let slip China Re US expansion plans

Maine legislator calls on Congress to allow cannabis insurance

Lack of insurance and banking access stunting legal cannabis market

The Hartford to restrict coal and tar sands business

Becomes 19th insurer globally to announce a coal investment and underwriting policy

MetLife agrees to pay $10m to settle SEC internal controls charge

Error led to improper reserves accounting in annuities business

NY Life buys Cigna group life and disability business for $6.3bn

Deal will add to insurer's business diversification, says Fitch

Liberty Mutual announces coal ban and first sustainability officer

Comes after sustained pressure from US lobby groups on insurer's coal policy

US life insurers commend Trump administration on Nafta modernisation

USMCA "critical to continued success" of insurers working in North America

Prudential Financial open to sale of annuity blocks, says Falzon

Ex-CFO praises extraordinarily attractive annuities book

HDI appoints Jessica Cao in leading actuarial role

She will be based in Chicago and will report to HDI's chief financial officer

Analysis

Cannabis insurance: ending the bad trip

Conflicting state and federal laws, uncertain pricing and novel risks have discouraged most insurers from participating in the cannabis market so far. But as the US edges nearer to federal legalisation, this could change. Sarfraz Thind reports

US casualty reserves: courting disaster?

Rising claims and shrinking reserves in the US casualty business have led to speculation about an impending crisis. Could it really get that bad? Sarfraz Thind investigates

IAIS Abu Dhabi: Why the Treasury and NAIC returned different ICS conclusions

"Team USA" voiced wildly divergent tones in their reaction to the ICS talks in Abu Dhabi last week. But, despite their strong statements, the US negotiators appear to be in accordance over zero implementation of IAIS's capital accord and the potential to move forward with compromise. Sarfraz Thind reports

Insurance ERM Americas: The risk trends keeping US CROs awake at night

US re/insurance chief risk officers reveal the risks that most concern them, changing risk tolerances in the industry and strategies for dealing with emerging threats. Ronan McCaughey reports from InsuranceERM's New York conference