Data security

Head of the agriculture unit at Munich Re cites drought as the biggest cause of losses in 2012.

More natural peril events occurred in 2012, but the losses incurred were far below the record-highs established in 2011.

With climate change prompting a transformation, insurers will find opportunity to take on some risk in the energy sector, which will continue to be crucial in the world economy.

From 2008 to 2011, the number of questionable claims suspected of being part of an organized group or ring activity increased by 47 percent, according to the National Insurance Crime Bureau’s “Data Analytics Forecast Report.” However, that number of questionable claims with the OGA referral reason decreased markedly in 2011 and continued to fall in in the first half of 2012.

Insured losses from natural catastrophes were greater than $110 billion in 2011, the second-highest figure ever recorded, according to Swiss Re in “Taking a Comprehensive View of Catastrophe Risk Worldwide,” a report from AIR Worldwide. And there is a 6.7 percent probability the insurance industry will experience a loss of this size in any given year. In 2012, insured losses totaled $65 billion, $25 billion of which are attributed to Superstorm Sandy, as estimated by Munich Re.

20-year veteran of AIG climbs to executive ranks after four years at Zurich.

Fitch says total estimated losses could continue to rise, as several insurers have yet to release loss estimates.

A.M. Best maintains its stable outlooks on the P&C, life and reinsurance sectors despite significant and persistent challenges, including loss reserves, low interest rates, weather-related volatility and increasing competition.

Severe weather-related catastrophes in United States accounted for a larger-than-normal portion of global catastrophe losses in 2012, increasing to 67 percent from an average of 32 percent, and 90 percent of global insured losses, compared to an average of 57 percent, according to Munich Re.

This compilation of the top slideshows of 2012 is based on pageviews and represents the biggest topics and trends from the past 12 months.

Ahead of the upcoming holiday, the National Insurance Crime Bureau analyzed vehicle theft data to determine the 11 most popular holidays for vehicle thefts.

INN’s top videos list is based on views and contains must-know information from some of the most forward-thinking voices in the industry.

Several insurers across both property/casualty and life insurance sectors received patents in the past weeks for their technology and process innovations.

Clients in two Midwestern states to use Priority’s quoting, rating and underwriting solution.

Weather-related losses in the United States dominate the insurer’s list of losses.

The three software tiers feature improved interoperability with external systems, enabling them to operate seamlessly within an insurer’s enterprise risk management platform.

In the wake of Sandy, a study notes how insurers’ are seeing the benefits of embracing risks related to climate change.

RiskIntegrity Solvency II Solution designed to help with calculating, consolidating and reporting on insurance portfolios.

Attorneys General around the country receive notices from the insurer this morning about social security numbers, driver’s license numbers and other personal information of its customers being compromised.

UBI and insurance telematics are touted for their ability to save premium dollars, but wider adoption could also save lives and slow global climate change.