Big life insurers more likely to gain from relaxed bancassurance rules, per Fitch

Published on May 1, 2024
The removal of a restriction that limits the number of Chinese insurers allowed to cooperate with a commercial bank branch to a maximum of three will benefit life insurers' new business sales in the
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Erin Osborne named Head of U.S. Excess Casualty, Ascot

May 1, 2024
Ascot Group, the global specialty insurance firm, has appointed Erin Osborne to the role of Head of U.S. Excess Casualty, where she will assume full management and leadership responsibility for the business unit.The role will also see her lead the strategic planning for future growth across the market segment.In the role, she will be based in New York, and she will continue to report to Jeff Canfi

Consumer Watchdog opposes proposal for black-box models in wildfire risk prediction

May 1, 2024
Consumer Watchdog opposes Californian Insurance Commissioner Ricardo Lara’s proposal to allow insurance companies to use black-box catastrophe models and artificial intelligence (AI) for predicting catastrophic wildfire risks, citing concerns that this approach will increase home insurance rates without transparency or accountability.These concerns were voiced during Consumer Watchdog’s testimony