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