Data security

While risk managers are increasingly prepared for a variety of risks, gaps exist between process and action, according to a Towers Watson survey.

Claims for business interruption will probably drive insurance costs tied to the bombings, according to catastrophe modeler Risk Management Solutions Inc.

Slightly more than half of respondents account for risk in their current compensation arrangements, according to a new Towers Watson survey, which is making some execs unhappy.

SAS Risk Management for Insurance brought in by insurers to support Solvency II compliance.

Additions to Technology Advantage designed to help agents navigate interfaces and technology companies protect against risk.

Configurable app blocks network connectivity; separate “What If Calculator” demonstrates the impact of tickets, accidents, moving and changing vehicles on insurance rates.

U.S. commercial lines insurance underwriting performance also improved moderately last year, according to Fitch’s review of initial industry financial results for 2012, indicating that a market turn is taking hold, citing a second year of material premium growth and signs that loss ratios reached a cyclical peak in 2011 as indicators.

Bad driving habits and trends are diminishing among teens, according to a new report on teen driver safety released by The Children’s Hospital of Philadelphia (CHOP) and State Farm. From 2008 to 2011 the number of teen passengers killed in crashes not wearing seat belts decreased 23 percent, the number of teen passengers driven by a peer who had been drinking declined 14 percent, and 30 percent fewer teen passengers were killed in crashes involving a teen driver.

Commercial rates increased 5 percent, while personal lines prices were up 4 percent last month, according to MarketScout’s monthly Market Barometer.

With questionable claims numbers and fraud costs expected to grow through 2016, Aite Group outlines emerging techniques and technologies to stem the tide.

New version designed to complement governance, risk appetite measurement and assessment services.

Coverage designed for U.S.-based multinational companies with complex exposures.

As the life insurance and annuity industries move toward model-based approaches to reserve and capital valuation, actuarial models are increasing in complexity and sophistication while the imperative to avoid modeling errors also increases, according to a recent report from Deloitte, titled “Actuarial Modeling Controls: A Survey of Actuarial Modeling Controls in the Context of a Model-Based Valuation Framework.”

Cyber coverage levels also increased according to the report. Across industries, limits purchased in 2012 averaged $16.8 million, a 20-percent increase over 2011. Communication, media and technology companies led other industries in terms of average limits purchased, at $33.4 million, and the rate of increase, which was nearly 36 percent.

Armed with analytics, insurers should be able to make better business decisions more quickly and mobilize teams to connect better with customers, leading to success and growth, according to PwC.

Peak Reinsurance Co., a reinsurer focusing primarily on the Asia-Pacific market, has selected a catastrophe modeling solution from AIR Worldwide to manage its catastrophe risk.

Partnership intended to simplify the BPM and CRM provider’s encryption approach.

However, report says P&C carriers better equipped than others; PCI discounts findings.

Commissioned by The Hartford Steam Boiler Inspection and Insurance Co., Ponemon Institute’s survey results show many small businesses have had a data breach, almost all involving electronic records.

The goal of the partnership is to provide a file exchange between GEMS Economic Scenario Generator, MG-ALFA actuarial software.