As modifications in threat and macroeconomics—particularly inflation—proceed to affect insurance coverage trade dynamics, regulators stay engaged to assist insurers and prospects regulate accordingly. But not all interventions are attaining their supposed outcomes.
In this month’s Insurance News Analysis, Joanne Laffan and I focus on the unintended penalties of the UK Financial Conduct Authority guidelines supposed to stop loyal prospects from paying greater premiums than new prospects. We study why it could not have had its desired impact.
In the US, regulators are exploring whether or not federal insurance coverage to cowl catastrophic cyber-attacks could also be wanted. This comes after a authorities report warned that the non-public insurance coverage market and the Terrorism Risk Insurance Program provide restricted safety.
Meanwhile, as Australia is more and more hit by excessive climate occasions, NRMA Insurance has teamed with the South Australian State Emergency Service (SASES) to amplify group preparedness applications. Joanne and I focus on this persevering with development towards public-private partnerships aimed toward serving to to mitigate threat. We additionally focus on how macroeconomic restoration from the pandemic may be stifled and what impression that might have on the insurance coverage trade.
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