News & Analysis as of

Risk Management Insurance Regulations

Troutman Pepper Locke

Red Teaming Is an Effective Tool for Insurer Assessment of AI Risks

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The insurance industry is facing increased scrutiny from insurance regulators related to its use of artificial intelligence (AI). Red teaming can be leveraged to address some of the risks associated with an insurer’s use of...more

Conyers

AM Best Proposes Changes to Its Rating Criteria

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In a recent market briefing delivered to the Cayman Islands’ (re)insurance industry, global credit ratings agency AM Best announced its proposal to change its criteria for rating cell companies including Segregated Portfolio...more

Conyers

The Prudential Solvency Regime of the Cayman Islands

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The Cayman Islands Monetary Authority (CIMA) set out its approach to group (or consolidated) supervision in a November 2023 regulatory policy update (the Regulatory Policy). CIMA defines consolidated supervision as: “a...more

Goldberg Segalla

Navigating the Time-Limited Policy Limits Demand: Best Practices for Insurers and Defense Counsel

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In the evolving landscape of insurance litigation, the time-limited, policy limits demand has emerged as a high-stakes challenge for insurers, defense counsel, and claims professionals alike. These demands – often issued...more

Foley & Lardner LLP

Tsunamis and the National Flood Insurance Program

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On July 30, an 8.8 magnitude earthquake occurred off of Russia’s Eastern Kamchatka coast, subsequently triggering tsunami warnings in, among other places, Japan and Hawaii. Some have postulated that rising sea levels could...more

Hogan Lovells

The natural catastrophe insurance gap: is a centralised European backstop the solution?

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As climate change intensifies the frequency and severity of natural disasters across Europe, the gap between insured and total economic losses—known as the natural catastrophe insurance protection gap—has become a growing...more

Husch Blackwell LLP

Personal Liability Risks for Insurance Liquidators: Navigating Federal Super Priority in Insolvency Proceedings

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Insurance commissioners serving as liquidators of insolvent insurance companies should be mindful of the potential for personal liability arising under the Federal Priority Act (FPA) and potential solutions through model...more

Mayer Brown

The PRA's Letter to Chief Risk Officers on Solvency-triggered Termination Rights

Mayer Brown on

The Prudential Regulation Authority ("PRA") has issued a letter, dated 4 July 2025, to Chief Risk Officers of life insurers active in the bulk purchase annuity ("BPA") market. The letter focusses on the use of so-called...more

A&O Shearman

The new Italian space law: a comprehensive regulatory framework for space operations

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On June 25, 2025, Law No. 89/2025 (the “Italian Space Law”) came into force, marking a pivotal development in Italy’s approach to space activities to promote investments in the space economy. For the first time, Italy will...more

JUSTICENTER

Comparing Turo’s Protection Plans With Your Personal Auto Insurance

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Peer-to-peer car-sharing platforms like Turo have transformed California’s driving scene. Many California residents are choosing to rent out their personal vehicles or book rides through the Turo app. While Turo offers...more

Cozen O'Connor

South Carolina’s New Tort Reform and Liquor Liability Law

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On May 28, 2025, South Carolina Governor Henry McMaster officially signed H.3430, also known as Act 42, which amends part of South Carolina’s Contribution Among Tortfeasors Act, S.C. Code Ann. §15-38-15, as well as laws...more

Troutman Pepper Locke

Florida Bill Eliminating the Surplus Lines Diligent Effort Requirement and a Discussion on Surplus Lines Regulation Trends

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On June 13, Florida Gov. Ron DeSantis signed House Bill 1549 into law. Among other things, the bill has removed the “diligent effort” requirement applicable to surplus lines agents....more

Mitchell, Williams, Selig, Gates & Woodyard,...

Driving Loss Reduction Through State-Created Residual Insurance Markets: Environmental Defense Fund/Cornell University Report

The Environmental Defense Fund (“EDF”) and Cornell University issued a report titled: Driving Loss Reduction Through State-Created Residual Insurance Markets (“Report”)....more

WaterStreet Company

2025 Hurricane Season for Insurance

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As the 2025 hurricane season unfolds, insurance companies prepare. Early summer is time to closely monitor hurricane forecasts, assess risks, and account for financial implications that could arise due to increased property...more

Herbert Smith Freehills Kramer

Regulatory task force adopts asset adequacy testing for asset-intensive life reinsurance

U.S. life carriers engaging in “asset intensive reinsurance transactions” should consider new requirements for reporting and actuarial testing of these arrangements being developed by the National Association of Insurance...more

Benesch

Insurance Industry Adjusts to Trade Wars

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The White House has kicked off what appears to be a global trade war. The near-term net effect is the growing reality that we are entering a higher-cost operating environment for most industries. Volatility is always a...more

Bradley Arant Boult Cummings LLP

Know Your Limits: Insights on Statutory Minimum Limits for Nursing Facilities

How much insurance does my organization need? This conundrum impacts policyholders from small businesses needing single policies to Fortune 500 companies placing complex, multimillion-dollar insurance towers. For owners and...more

Conyers

2025 Bermuda Insurance Bulletin

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Welcome to the latest edition of the Conyers Bermuda Insurance Bulletin. It is hard to believe that the second quarter of the year is well underway! The Bermuda (re)insurance sector has had a strong start to 2025 following a...more

Farella Braun + Martel LLP

The Evolving Landscape of Wildfire Insurance in California and Takeaways for Policyholders

Wildfires in California are occurring with greater frequency, causing more destruction, and increasingly igniting in unexpected locations and at unforeseen times. Since the 1970s, the length of the wildfire season in western...more

Faegre Drinker Biddle & Reath LLP

Colorado Division of Insurance Takes Next Steps to Expand AI-Related Governance and Risk Management Obligations for Insurers

The complex and evolving AI regulatory landscape for insurers is again on the move. The Colorado Division of Insurance (the Division) has commenced the formal rulemaking process to amend and expand the reach of current...more

Warner Norcross + Judd

Batten Down the Hatches — Appropriate Insurance Protection for Your Vessel

It’s the time of year every boat owner looks forward to — getting their prized possession in the water and prepping it for the season ahead. But, aside from the cleaning and equipment checks, it is also important to regularly...more

WaterStreet Company

How Insurers Takeout Policies with State Insurance Programs

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State insurance programs serve as critical safety nets. When residents struggle to obtain coverage from private insurers, these programs step in. Private insurers can find a different type of opportunity when willing to take...more

Woodruff Sawyer

Insurance for Non-Profits: The Crisis Within the Low-Income Housing Crisis

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Homelessness in the United States has reached a critical point. A significant contributor? The lack of affordable housing. No state has an adequate supply of affordable rental housing for the lowest-income renters, as...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Standard Formula: Encyclopaedia of Prudential Solvency – Chapter 3: Prudential Insurance Regulation in Japan

This chapter discusses prudential insurance regulation in Japan. Japan is the fourth-largest insurance market in the world, with a broad customer base and a varied range of offerings. This profile, coupled with ongoing...more

WaterStreet Company

Texas FAIR Plan: Opportunities and Challenges for Private Insurers

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As natural disasters continue to impact the insurance market, Texas has seen a surge in policyholders relying on the Texas FAIR Plan Association for coverage....more

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