Saving for the next catastrophe
Article Abstract:
Various industry groups are pushing for government regulations that would require property/casualty insurance companies to have reserves to settle future disaster claims. The proposed requirement aims to prevent industry-wide insolvencies. Supporters of the proposal assert it would enhance the industry's ability to pay off more future catastrophe claims. The National Association of Mutual Insurance Companies and other industry groups do not support the proposal which they claim would adversely affect small- and medium-sized insurance companies' financial status.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1997
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Insurers win revisions in medical records bill
Article Abstract:
The property and casualty insurance industry has won a major first battle over a piece of bipartisan legislation which would have controlled private medical records. The law would have prevented the sharing of medical information between companies without the consent of the patient. Any breach in confidentiality would have resulted in criminal penalties. However, property and casualty insurers objected to their inclusion in the bill, and have successfully lobbied to be exempt from its effects.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1996
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Struggling with reserve discounting: regulators are divided over whether the industry has a realistic picture of the magnitude of future claims
Article Abstract:
Property/casualty firms and insurance regulators are trying to implement efficient procedures and standards to better handle tort liability issues. CFOs, consulting actuaries and senior insurance department examiners have different views on estimating and reserving for environmental liabilities. Efficient planning of reserve discounting can help insurers better handle future catastrophe losses and tort liability claims.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
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