California Insurance Commissioner Ricardo Lara on Monday announced what he is calling the final step in his efforts to help the state’s ailing homeowners insurance market with the Net Cost of Reinsurance in Ratemaking Regulation, which enables reinsurance as a ratemaking factor and requires insurers to increase coverage in high-risk areas. The step, which the … Read more
By Anthony May In Part I of this series, I referenced the following quote from Elon Musk: [Artificial Intelligence, or AI] doesn’t have to be evil to destroy humanity – if AI has a goal and humanity just happens to come in the way, it will destroy humanity as a matter of course without even thinking … Read more
California Insurance Commissioner Ricardo Lara on Friday announced what he’s calling “first of its kind” catastrophe modeling and ratemaking regulation that will allow carriers to use the models as a factor in setting and getting rates. The regulation is a part of his so-called Sustainable Insurance Strategy to increase coverage in wildfire-distressed areas of the … Read more
By William Nibbelin, Senior Research Actuary, Triple-I According to a new study by the Insurance Research Council (IRC), the rate filing process for personal auto insurance has become more inefficient and ineffective, taking longer to achieve rate approval with higher occurrence of approved rate impact lower than filed rate impact and a larger disparity between … Read more
Stephen Weatherill Jacques Delors Professor of European Law (Emeritus), Faculty of Law and Somerville College, University of Oxford Photo: Lassana Diarra, by Рыбакова Елена, on Wikimedia Commons In preparing this paper I have benefited from discussion with and comments by (in alphabetical order) Jean-Louis Dupont, Peter Heermann, Guillermo Íñiguez, Jacob Kornbeck, Miguel Maduro, Petros … Read more