Live Insurance News

Cybersecurity insurance news buzzes with new NAIC industry guidance

April 27, 2015April 25, 2015 G. Turner

The National Association of Insurance Commissioners has now taken on twelve new regulatory guidance principles. The National Association of Insurance Commissioners (NAIC), has recently announced its adoption of twelve Principles for Effective Cybersecurity Insurance Regulatory Guidance. This is an important move from this standards setting organization which is made up of regulators from across the country. These twelve cybersecurity insurance principles have come at a time in which the threats to the industry have been receiving a tremendous amount of time in the spotlight, particularly following the Anthem data breach.…

Insurance industry may need to take climate change seriously

March 4, 2015March 3, 2015 Marc

climate change weather storm insurance industry

Insurance regulators are calling for insurers to become more prepared for climate change Insurance regulators in the United States may be growing more supportive of efforts to combat climate change. This climatic phenomenon has the potential to be the most disruptive force that the insurance industry has faced in its long history. Regulators throughout the country, represented by the National Association of Insurance Commissioners, are calling for the insurance industry to take climate change more seriously and help businesses prepare for the potential impact of this phenomenon. Regulators are becoming…

US regulator task force to target cyber insurance

February 3, 2015January 31, 2015 Logan B.

Cyber insurance will be the focus of a new task force launched by the National Association of Insurance Commissioners The National Association of Insurance Commissioners has created a new task force that will be focused on cyber security. The task force is meant to increase consumer protection, introducing new regulations that target the insurance industry. Insurers collect valuable information from their customers, but new risks are emerging in the digital world that put this information in danger of theft and exploitation. The new task force could help foster further innovation…

Homeowners insurance becomes a hot topic in the search for Texas’ next Governor

October 6, 2014October 4, 2014 Logan B.

Wendy Davis and Greg Abbott agree that insurance coverage is too expensive Homeowners insurance has become a political platform in Texas. The state’s Attorney General, Greg Abbott, and Senator Wendy Davis are campaigning to be the next Governor of Texas, and the two candidates are divided on many issues, apart from insurance coverage. Both candidates agree that more must be done to slow the constant increase in homeowners insurance rates throughout the state. Texan homeowners have seen their premiums grow by a significant amount for the past several years, and…

Homeowners insurance rates are on the rise in Texas

September 22, 2014September 20, 2014 G. Turner

Insurance coverage is becoming more expensive because of natural disasters in the past Homeowners insurance rates are on the rise in Texas, and natural disasters may be the cause. The state has not been hit by a major hurricane in six years and devastating wild fires have not been seen since 2011. Despite the apparent lull in catastrophe, rates for insurance coverage continue to grow. This has to do with the lasting impact of natural disasters and how they affect the insurance industry. Texas is prone to disasters and insurers…