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The bills place additional requirements on insurers in the state and expand consumer protections. -
At Trading Risk’s London ILS 2023 conference, the PRA’s head of division for London markets, Andrew Dyer, explained how the PRA is executing its plans to bolster the UK ILS market.
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On Thursday, the bill passed 23-15 in Florida's Senate, after passing the House last week.
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Yaworsky has served as interim insurance commissioner since being nominated by Governor Ron DeSantis last month.
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The BMA also expects Bermudian insurers to consider double materiality in their reporting, as well as their own external climate-change impact.
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The grant has so far supported cat bond issuances Kite Re and Greater Bay Re.
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Ron DeSantis has also announced proposals to modernize Florida’s "bad faith" law, in the latest set of reforms he described as the most “comprehensive in decades”.
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The attempt to increase the supply of insurance in the state has been submitted for governor approval.
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Following recent hurricanes, more than 610,000 residential property claims were filed in the state.
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The regulator examined carriers’ ability to model nat-cat and cyber events, with mixed results.
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The downgrades were linked to a reduction in CEA’s claims-paying capacity to 1-in-360 years, from 1-in-400 years, and reinsurance market challenges.
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The industry group has launched its first target-setting protocol.
