From Best's Review: No Easy Answers

A school safety expert cautions insurers to closely examine the types of training programs their insureds are using to prepare and respond to active shooter incidents.

April 01, 2019 Full Story

FEMA Adds $300 Million Cat Bond, Acquires $2.12 Billion Total Coverage for 2019 Season

The Federal Emergency Management Agency has secured a second capital markets catastrophe bond to provide additional reinsurance for the National Flood Insurance Program, which when combined with previously purchased coverage, provides $2.12 billion in total 2019 hurricane season reinsurance.

April 22, 2019 Full Story

CMS Cuts 2020 Insurance Exchange Fees, Raises Premiums

Insurers will get a slight reduction in Affordable Care Act exchange fees next year and some ACA enrollees will face higher premiums through reduced tax subsidies under rules finalized by the Centers for Medicare and Medicaid Services.

April 22, 2019 Full Story

Pinnacle Actuarial Resources

Captive Market

David Provost

Vermont Lengthens Captive Insurance Examination Schedule to Five Years
Vermont is pushing back its timetable for full examinations of captive insurance companies from three to five years under an updated law signed by Gov. Phil Scott.
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Courts

Appeals Court Sides With Geico in Florida Auto Coverage Dispute
A federal appeals court dismissed a Florida chiropractic practice’s class-action lawsuit against Geico, ruling the health care provider lacked standing to represent the policyholder — and leaving unanswered whether Geico has been interpreting its contract language properly.
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Europe

Sompo International Appoints CEO of SI Insurance (Europe)
Sompo International Holdings Ltd. has appointed Thomas Brazil as chief executive officer of SI Insurance (Europe) SA.
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Legislation

Kansas Governor Allows Association Health Plan Bill to Become Law
Kansas Gov. Laura Kelly has let a health benefit plan bill backed by the Kansas Farm Bureau to become law despite her “serious” objections.
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Property/Casualty

Allstate Incurred $381 Million of Pretax Cat Losses in March
Allstate Corp. said it incurred estimated pretax catastrophe losses of $381 million in March, bringing first-quarter pretax catastrophe losses to $680 million.
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Heritage Hit With $15.4 Million in First-Quarter Catastrophe Losses
Heritage Insurance Holding Inc. said it estimates $15.4 million of net catastrophe losses in the first quarter. It attributed $10.2 million of that total to a hailstorm that dumped egg-size hail in Brevard County, Florida.
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Update: UPC Estimates $18 Million in First-Quarter Pretax Cat Losses
(Adds information in third paragraph and removes reference to earlier Hurricane Irma losses.) United Insurance Holdings Corp. said it incurred an estimated $18 million of pretax first-quarter catastrophe losses, including higher-than-expected development on prior-year events.
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