Regulation and Oversight
IAIS Paper Cites Importance of Insurers' Operational Resilience
While operational resilience is not a new concept to insurers, their increased reliance on digital systems as well as experiences gathered from the COVID-19 pandemic have heightened the focus on that resilience, as well as insurance supervisors' scrutiny of it. Learn More
Airbnb Fined in Washington for Acting as an Unauthorized Insurer
Washington Insurance Commissioner Mike Kreidler has fined Airbnb $20,000 for acting as an unauthorized insurer in Washington State. Mr. Kreidler also ordered the company to obtain a surplus lines insurance policy to continue offering its Host Damage Protection program in Washington. Learn More
Navigating a Year of Captive Insurance Regulatory Transition
Effective regulation is at the heart of a successful captive insurance industry. It's not surprising, then, that a flurry of recent of moves at the highest level of a number of states' captive regulatory operations caught the captive industry's attention. Read More
NAIC Announces Its Regulatory Strategic Priorities for 2023
Having completed its committee assignments for the year, the National Association of Insurance Commissioners (NAIC) has announced its regulatory strategic priorities for 2023. This year's priorities cover such areas as climate and catastrophe risk, artificial intelligence and cyber security, insurer oversight, marketing of insurance products, and protection gaps. Read More
Insurance Commissioners Group Names 2023 Committee Leadership
The National Association of Insurance Commissioners (NAIC) has named its 2023 committee chairs and vice chairs. The NAIC also assigned members to its standing committees and named its 2023 task force chairs and vice chairs based on requirements established in the organization's bylaws. Read More
IAIS Seeks Feedback on Insurance Industry Operational Resilience Paper
The International Association of Insurance Supervisors (IAIS) is seeking feedback on a paper focusing on operational resilience in the insurance sector. In response to the trends underscoring the importance of resilience, the IAIS' Operating Resilience Task Force (ORTF) has published for consultation an "Issues Paper on Insurance Sector Operational Resilience." Read More
IAIS Report Examines Supervisors' Role in Pandemic Risk Insurance
The International Association of Insurance Supervisors (IAIS) and the Access to Insurance Initiative) have published a note examining the role insurance supervisors could play in creating insurance-based programs for pandemic risk. The report outlines the roles that insurance supervisors can play as future initiatives are developed. Read More