Regulatory & Compliance

Essential Cybersecurity Strategies Crucial for Safeguarding Life Insurers
Regulatory & Compliance Essential Cybersecurity Strategies Crucial for Safeguarding Life Insurers

The increasing digitalization of the Life and Annuity (L&A) sector has brought about significant enhancements in processes and service delivery for both policyholders and insurers. However, this wave of digital transformation also exposes life insurance companies to a new realm of cyber

Can AI Revolutionize Non-Weather Water Risk Assessment for Insurers?
Regulatory & Compliance Can AI Revolutionize Non-Weather Water Risk Assessment for Insurers?

The insurance industry is witnessing an alarming trend: the increasing frequency and severity of non-weather-related water and freeze claims. Traditional methods of risk assessment are proving inadequate in the face of rising repair costs and complex property layouts. Enter ZestyAI—a leading p

Congress Democrats Demand NAIC Update on Insurance Climate Risks
Regulatory & Compliance Congress Democrats Demand NAIC Update on Insurance Climate Risks

The insurance industry is under increasing scrutiny from Congressional Democrats, who are urging swift action to incorporate climate-related risks into regulatory frameworks. This move reflects a heightened awareness of the profound economic and societal impacts of climate change and aims to

Will Florida Approve Citizens Property Insurance's Rate Hike Proposal?
Regulatory & Compliance Will Florida Approve Citizens Property Insurance's Rate Hike Proposal?

The Florida Office of Insurance Regulation (OIR) will host a public hearing on August 1st to evaluate a proposal by Citizens Property Insurance Corp. for increasing insurance rates by 2025. Specifically, Citizens is advocating for a notable average increase of 13.5% for homeowners

Doherty Presses Irish Government to Back Insurance Cost Reduction Bill
Regulatory & Compliance Doherty Presses Irish Government to Back Insurance Cost Reduction Bill

Donegal Deputy Pearse Doherty continues his persistent effort to urge the Irish Government to commit to supporting his proposed insurance legislation, which aims to reduce costs for consumers through mandated savings transfers from insurance companies to their customers. Originally introduced to

Insurtech UK Unveils Policy Manifesto to Boost Sector Growth
Regulatory & Compliance Insurtech UK Unveils Policy Manifesto to Boost Sector Growth

In a landmark move to catalyze growth within the insurtech sector, Insurtech UK has unveiled its strategic Policy Manifesto. Released on June 25, 2024, this document provides a comprehensive roadmap aimed at driving innovation, attracting investment, and facilitating the expansion of insurtech

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