United StatesU.S. insurance actuary group backtracks on decision to drop protection language
Alwyn Scott
2 minute read
Facing mounting opposition, a major insurance actuary organization has backtracked on a decision to drop long-standing principles on how car and home policy premiums should be set.
The Casualty Actuarial Society (CAS) said on Friday it had reinstated principles in use since 1988 that required rates for such coverage to reflect the costs.
The decision came a week after the Consumer Federation of America (CFA) said it had asked regulators to toughen their oversight to avoid unfair or discriminatory prices in the absence of the guiding principles.
Global Insurance Symposium Announces Event Headliners
-In-person and virtual registration options open for June 2021 event-
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DES MOINES, Iowa, May 10, 2021 /PRNewswire/ International leaders in insurance, technology and government will headline the 2021 Global Insurance Symposium, to be held both in-person and virtually in Des Moines, Iowa, on June 28-30. Speakers and panelists will offer exclusive insights on new ideas and challenges facing insurance companies, insurtech companies, startups and regulators during this industry event. We are excited to convene some of the world s most influential insurance industry thought leaders at the 2021 Global Insurance Symposium, said Jay Byers, President and CEO, Greater Des Moines Partnership. Our speakers will cover a wide range of cutting-edge topics and engage attendees in critical issues impacting the future of the insurance industry.
U.S. insurance actuary group backtracks on decision to drop protection language By Syndicated Content
By Alwyn Scott
NEW YORK (Reuters) â Facing mounting opposition, a major insurance actuary organization has backtracked on a decision to drop long-standing principles on how car and home policy premiums should be set.
The Casualty Actuarial Society (CAS) said on Friday it had reinstated principles in use since 1988 that required rates for such coverage to reflect the costs.
The decision came a week after the Consumer Federation of America (CFA) said it had asked regulators to toughen their oversight to avoid unfair or discriminatory prices in the absence of the guiding principles.