NCPA May 14, 2021
Dear Colleague,
Have you ever searched high and low for something (keys, cellphone, remotes come to mind) and you finally found it right in front of you? When that happens, someone invariably says, If it was a snake it would ve bit you.
I thought about that old phrase the other day as I pondered the discoveries being made about PBM business practices. The business practices for lack of a better word of PBMs are not new. Far from it. These discoveries are consistent with NCPA s objective of
changing the pharmacy payment model. NCPA has been shining a light on examples of PBM malfeasance for decades. Lately, we re seeing more and more PBM investigations across the country and there s a temptation to think, We ve been telling you this for years. Better late than never.
Commercial Auto Insurance Business on Road to Break-Even in 2021: Fitch May 13, 2021
The commercial auto insurance segment posted its best underwriting result in a decade in 2020, thanks to continued big rate increases and a big drop in driving due to the coronavirus pandemic.
According to a Fitch Ratings report, the commercial auto combined ratio of 101.6 for 2020 was nearly eight percentage points better than the 2019 rate. Fitch said it expects further improvement to move the commercial auto combined ratio to approximate break-even levels in 2021.
However, future profitability may be challenged as driving activity returns to past norms, while claims severity patterns remain problematic and pricing momentum may have peaked, Fitch added.
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Kroll Bond Rating Agency UK Limited (KBRA) assigns preliminary ratings to five classes of notes to be issued by RRE 2 Loan Management DAC, a cash flow collateralised loan obligation (CLO) backed primarily by a diversified portfolio of Euro-denominated corporate loans and bonds.
RRE 2 Loan Management DAC is managed by Redding Ridge Asset Management (UK) LLP ( RRAM UK or the collateral manager ). The CLO originally closed in June 2019. This transaction will reset the terms of the CLO, including the stated maturity, non-call period, reinvestment period, note interest rates and notional balances. Proceeds from the issuance of the new CLO notes will be used to redeem the outstanding notes in full and to purchase new assets (€100 million upsize). The CLO will have a 4.0-year reinvestment period and a 14.0-year legal final. The ratings reflect initial credit enhancement levels, coverage tests including par value and interest coverage tests, excess spread, and a reinvestment overc
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KBRA Assigns Preliminary Ratings to RRE 2 Loan Management DAC
May 13, 2021 GMT
LONDON (BUSINESS WIRE) May 13, 2021
Kroll Bond Rating Agency UK Limited (KBRA) assigns preliminary ratings to five classes of notes to be issued by RRE 2 Loan Management DAC, a cash flow collateralised loan obligation (CLO) backed primarily by a diversified portfolio of Euro-denominated corporate loans and bonds.
RRE 2 Loan Management DAC is managed by Redding Ridge Asset Management (UK) LLP (“RRAM UK” or the “collateral manager”). The CLO originally closed in June 2019. This transaction will reset the terms of the CLO, including the stated maturity, non-call period, reinvestment period, note interest rates and notional balances. Proceeds from the issuance of the new CLO notes will be used to redeem the outstanding notes in full and to purchase new assets (€100 million upsize). The CLO will have a
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On May 7, 2021, the US House of Representatives Task Force on Artificial Intelligence (AI) held a hearing on “Equitable Algorithms: How Human-Centered AI can Address Systemic Racism and Racial Justice in Housing and Financial Services.”
1 It was the latest among several federal, state and international initiatives calling for fair, transparent and accountable AI in the financial and consumer sectors, and urging all AI actors (developers, manufacturers, users and regulators of AI systems) to address inequitable outcomes. This hearing focused on ways the public and private sectors can use AI to address systemic racism and optimize fairness.