Insurance industry news from ACORD, SIAA, Burns & Wilcox and more. Photo: Shutterstock
The Insurance Commissioner, through the State of Hawaii's Department of Commerce and Consumer Affairs' Insurance Division, requested that all property and casualty insurers and surplus lines carriers respond to a data call. Companies shall report information regarding claims related to wildfire and wind damage which stemmed from the state of Hawaii's August 8, 2023, disaster.
ACORD announced the publication of the ACORD GRLC Contract, Risk, and Pre-Accounting Implementation Toolkit, a new data messaging standard to facilitate the efficient exchange of insurance data. The CRP Standard was developed to streamline the flow of contract information among industry stakeholders, and support modernization initiatives in the London market. The CRP Standard was formally approved by the ACORD Global Reinsurance & Large Commercial Program Advisory Council in late August.
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