Comments End July 10 for UCAA Pro Forma Updates

Jun 29, 2018

By Jeff Rainey and Claude Mueller The NAIC National Treatment and Coordination (E) Working Group is exposing for comments updated Proforma Financial Statement Templates, formally known as Form 13.  These forms are required in many state application scenarios such as UCAA Primary and …

What’s Ahead for Reinsurance Industry in 2018: Fitch

Jun 28, 2018

The global reinsurance industry demonstrated resiliency following the record level of catastrophe losses in 2017, as very strong capitalization and effective risk management enabled the sector to absorb the multiple hits from Mother Nature and broadly maintain financial strength. Favorable …

Insurance trade associations AIA, PCI explore merger

Jun 25, 2018

The American Insurance Association and the Property Casualty Insurers Association of America are in talks to merge their organizations into one trade association. The boards of the Washington-based AIA and Chicago-based PCI “believe there is great benefit in a more …

Moody’s upgrades Florida to its highest credit rating

Jun 25, 2018

Moody’s Investors Service announced it is upgrading the state of Florida to its highest credit rating, citing “sustained” improvement in the state’s economy and a “proven track record of rebounding from severe weather events.” The ratings agency said Thursday that …

Changes To Schedule F Expected To Improve Reinsurance Reporting

Jun 22, 2018

By Claude Mueller, CPCU, ARe Financial reporting for reinsurance on Schedule F will look quite different beginning with the 2018 Annual Statement.  The National Association of Insurance Commissioners (NAIC) Blanks Working Group adopted changes on April 8, 2017 that consolidate …

Citizens puts insurance rate hike decision on hold

Jun 21, 2018

Citizens Property Insurance will delay any decision on 2019 rate increases until December, with officials saying they want to assess the impact of a new program designed to curb the cost of non-weather water claims. The Citizens Board of Governors, …