Insurance

Global Crisis highlights failure to account for Global Risks

By Editor

What do the coronavirus pandemic and climate breakdown have in common? They both present a huge threat to global financial stability, stemming from massive global negative externalities rooted in ecological change. They both entail dramatic economic, financial and social damage. And, despite continued warning of their certainty from scientists, we have failed to systematically consider […]

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SEC adopts iXBRL for Life Insurance Contracts

By Editor

This week the SEC adopted rule 498A under the Securities Act, aiming to help investors make informed decisions on variable annuity and life insurance contracts. Amongst other measures, the adopted rule requires the use of Inline XBRL for certain disclosures in the variable contract statutory prospectus. The SEC has published a draft Variable Insurance Product […]

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UK to Publish More Insurance Regulatory Data…. in Aggregate

By Editor

The Bank of England and Prudential Regulation Authority (PRA) are seeking comment on plans to publish quarterly, aggregated data on the UK Insurance market. Recognising the value of the breadth and depth of data contained in the regular structured disclosures required by Solvency II, the PRA hope to improve analysis and insight in the insurance […]

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Climate Change Risk Assessment: A Framework for Insurers

By Editor

It’s already clear that climate change will present real financial risks to insurers over the coming decades – but how should the sector respond? A cross industry working group set up by the UK’s PRA has published a framework for the general insurance sector to guide them through assessing the financial impacts of climate change. […]

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Blockchain and Inline XBRL Used to Build Smart Contracts

By Editor

Data Amplified 2018 saw presentations demonstrating how entrepreneurs and reporting ecosystems are starting to use blockchain technology in reporting.

Dennis Knochenwefel, founder of Reportix, demonstrated the use of Inline XBRL and Blockchain to automate and enhance insurance contract management with “smart contracts” embedded into the system.

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SEC Propose XBRL for Insurance Disclosures

By Editor

This week the Securities and Exchange Commission (SEC) published a rule proposal on “Updated Disclosure Requirements and Summary Prospectus for Variable Annuity and Variable Life Insurance Contracts” that would require the use of Inline XBRL. The proposed amendments are intended to “harness technology to allow investors, data aggregators, financial analysts, Commission staff, and other data […]

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PRA proposes more Insurance filings in XBRL

By Editor

The Prudential Regulation Authority of the Bank of England is consulting through to early June on a format change for a number of insurance reporting submissions in order to align its Solvency II Quantitative Reporting Templates with a range of EIOPA data requirements. The UK’s regulatory authorities continue to work towards the standardisation of supervisory […]

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XBRL Around the World

By Dave Nitchman

Data Amplified is your opportunity to get an inside look at how XBRL is being used around the world to meet goals both tactical and strategic – illustrated with case studies presented by both solution providers and regulators.

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XBRL US Surety Working Group Publishes WIP Taxonomy and Business Case

By Dave Nitchman

The Surety Working Group formed by XBRL US has completed a Proposed Recommendation of its Work-in-Process Taxonomy for automating the reporting of elements related to identifying risks and determining eligibility for surety bonds.

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