Data security

Michael Palmer will lead the analytics team in Bermuda and help develop the company’s understanding of all aspects of catastrophe risk.

Specialty branch within Munich Re adds a front-end risk management and planning component to its data breach coverage.

CLASIC/2 Version 14.0 introduces the ability to model builder’s risk policies for the AIR earthquake and hurricane models for the United States. AIR designed the updated version to support the policy conditions that characterize commercial insurance, enabling companies to assess catastrophe loss potential from the portfolio level down to the individual location level.

One way to practically screen for potentially significant threats is to evaluate prospective ones against an insurer's exposure concentrations.

In July, severe drought and heat waves effected great swaths of the United States, causing billions in insurance losses, according to Aon Benefield’s “July 2012 Global Catastrophe Recap.” Up to 64 percent of the continental United States is experiencing at least moderate drought, according to the National Climatic Data Center, and half of all U.S. counties have been declared disaster areas.

The property/casualty industry is facing a number of potentially transformational forces, including increasing competition, consumerization, the number of communications options for both agents and customers, social networking, and an evolving regulatory environment, according to Gartner’s “Hype Cycle for P&C Insurance, 2012.”

In a down economy, insurance fraud is on the increase, but companies such as Allstate, Erie Insurance and CNA tune their technology to fight fraud and organized crime.

A recent survey found cyber attack to be among the world's top five threats, which means insurers have a big responsibility to help others, as well as themselves.

New version designed to offer captive premium payment tracking for both locally, centrally invoiced insurance programs.

Deloitte survey also finds risks not continuously monitored at most firms despite available automation; most intend to revamp risk management within 12 months.

RIMS benchmark survey also finds property insurance coverage leads increase.

Reporting functionality, recommendation management and workflow management tools are just three of the elements Novarica says are critical to loss control systems.

GlobalOptions will prepare AIC’s fraud compliance reporting, conduct fraud training programs as well as the investigation and identification of suspected fraudulent insurance activities.

Insurer introduces new cyberliability insurance product and will partner with NetDiligence, a provider of post-incident services.

Rebranded and updated CyberEdge product attempts to stay on top of risk trends, such as cloud computing resources.

Second annual StoneRiver survey indicates a lack of enterprise risk management, readiness for changing regulatory climate.

Research using the websites of State Farm, Allstate, Progressive and GEICO indicates good drivers who live in moderate-income areas are being quoted higher prices for auto insurance, and rates vary widely across providers.

Professionals agree that predictive modeling has changed the way policies are priced, but what other potential does it have and where does this leave actuaries?

Alliance to enable deductibles and real-time tracking and monitoring for Chubb customers.

The market has been driven to a place where insurance-linked securitizations work from a pricing perspective, say experts at a recent S&P conference.