AGP Executive Report
Last update: 21 minutes agoClaims Scrutiny: Los Angeles County is investigating whether California’s FAIR Plan delayed or improperly denied wildfire claims, including payments for temporary housing and smoke damage. Public-Sector Risk: An audit found $9.22 billion in Metropolitan Manila Development Authority assets uninsured, including key flood-control infrastructure, leaving them exposed to losses. Regulation: Kuwait’s insurance regulator and interior ministry plan joint inspections and enforcement to strengthen compliance and protect customers. Rates: Florida approved an average 12.8% renters-insurance rate cut affecting about 122,000 policies, effective Oct. 11. Policyholder Protections: The Philippine Supreme Court upheld cancellation of a life policy after the applicant failed to disclose a terminal illness, ruling the omission material to the insurer’s decision. Market Trends: Marsh Re sees room for casualty insurance growth in Asia, but rising claim costs and settlements that can take years complicate pricing and reserves.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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