Insured Losses from Lahaina Fire, MO’s New Approach to Restricting ESG Investing & More

Lahaina Fire Insured Property Losses Estimated at $3.2B

Catastrophe modeler Karen Clark & Company estimated insured property losses from the Lahaina wildfire at about $3.2 billion. With the death toll from the Maui fires having exceeded 100, they are the nation’s deadliest in over 100 years. (INSURANCE JOURNAL)

MO SOS Touts New Path for Regulating ESG Investing

With Missouri state lawmakers having failed to pass legislation (HB 863) this year aimed at curtailing environmental, social and governance investing, Secretary of State Jay Ashcroft (R) has issued a new rule requiring financial advisors and institutions to disclose to customers investments that prioritize ESG scores or other criteria that may not maximize profit. Ashcroft said his first-in-the-nation rule may help guide other states looking to regulate ESG investing. (PLURIBUS NEWS)

Proposed NAIC Rule Could Limit Private Investments

The National Association of Insurance Commissioners, which sets standards for the industry, has proposed a rule that would allow it to override credit ratings assigned to some investment deals, effectively limiting how much money insurers could devote to such deals. The NAIC says the rule is needed to address the increasing number of deals being made in lightly-regulated private markets. (BLOOMBERG)

ME, CO Partner to Cut Retirement Costs

Maine and Colorado entered into a partnership agreement aimed at lowering fees associated with the automatic retirement savings programs each state offers the 40% of its workers who don’t receive retirement benefits from their employers. The first-of-its-kind-in-the-nation partnership consolidates those programs under a single administrator. (PLURIBUS NEWS)

—Compiled by SNCJ Managing Editor KOREY CLARK

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