USA Focus
News
FASB votes to delay LDTI, CECL accounting standards
Accounting body responds to market pressure
Hurricane Barry insured losses could hit $300m
Barry made landfall as a category one hurricane in Louisiana last Saturday but quickly dissipated
California commissioner denounces earthquake insurance 'misinformation'
Ricardo Lara partners with California Earthquake Authority to dispel confusion
Willis Re refines its wildfire risk offering
The reinsurance division of Willis Towers Watson has partnered with SpatialKey
California warned of further earthquakes after Ridgecrest
Lucy Jones said regions of southern California should expect more significant earthquakes
Chubb to exclude coal from underwriting and investment
Decision will impact at least $10m of assets
Club Vita plans US expansion
The longevity risk data provider is already established in the UK and Canada
NAIC approves law on EU-US covered agreement
States receive go-ahead to implement pact designed to reduce reinsurer collateral
Horace Mann reinsures $2.9bn annuity block with RGA
Deal will help fund acquisition of National Teachers Associates
Nasdaq ModEx signs CoreLogic to provide US earthquake model
Third US cat model on Nasdaq’s multi-vendor cat platform
Analysis
Regulatory doubts holding back advanced modelling
US regulators are ill-equipped to oversee predictive models and may be slowing the adoption of new technologies, says a study by the Society of Actuaries. Sarfraz Thind reports
NAIC forum: technology, data science and Brexit
The NAIC's international meeting this month proved a lively affair. Beyond the regulatory dissection, participants had a lot to say on issues ranging from technology to Brexit. Sarfraz Thind reports
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