Regulation and Oversight

IAIS Paper Cites Importance of Insurers' Operational Resilience

May 24, 2023

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. Read More

Airbnb Fined in Washington for Acting as an Unauthorized Insurer

May 19, 2023

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. Read More

Navigating a Year of Captive Insurance Regulatory Transition

February 22, 2023

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

February 14, 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

February 3, 2023

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