Regulation/Legislation

Rate filings show PIP premiums have dropped an average of 13.2%below the 25% target envisioned in HB 119, but a welcome outcome for the OIR and insurers.

The U.S. risk council is looking to determine whether Warren Buffett's Berkshire Hathaway Inc could be systemically important, a tag that would subject it to stricter regulatory oversight, Bloomberg reported, citing two people familiar with the matter.

Two long-simmering insurance-industry pocketbook issues, NARAB-II and the NFIP, will be in the spotlight when the Senate returns to work next Monday.

The NRRA appears to be largely functioning as intended: simplifying compliance for multistate risks while not altering rates or risk appetite. But industry associations tell the GAO that some states are making eligibility requreiments beyond those called for in the law.

The Reinsurance Association of America is voicing strong support for legislation being considered by the Florida legislature aimed at encouraging insurers to offer private alternatives to covering flood risk.

Nearly half of all Americans with employer-based health insurance plans say more money is being taken out of their paychecks for health insurance compared to a year ago, and 44% are facing higher out-of-pocket expenses, a survey reports.