As computing power grows exponentially, it has opened the actuarial modeling world to new and sophisticated forms of data collection and analysis, resulting in insurance companies seeking increased “predictiveness” of...more
2017 could be big for litigation over “Big Data” applications in insurance. This past year saw the filing of several “price optimization” class actions, and claims against a fraud detection tool, similar to the ones used by...more
On September 21, the United Kingdom's financial regulator, the Financial Conduct Authority (FCA), released a "Feedback Statement" after completing a review of insurance industry responses to its November 2015 "Call for...more
Innovators are not only disrupting the financial industry but also financial regulation as regulators weigh how to monitor financial technology (fintech) innovators and their new products and services. As they begin to...more
2015 saw approximately one-third of U.S. states join the first state, Maryland, in issuing guidance to property and casualty insurers with respect to price optimization; action by the National Association of Insurance...more
At the National Association of Insurance Commissioners (NAIC) Fall National Meeting, regulators and consumer representatives continued to seek transparency on insurers’ use of annuity captive reinsurance transactions (VA...more