Digital Platforms

Private U.S. property and casualty insurers’ net income after taxes rose to $16.2 billion through nine-months 2009, partially recovering from the 91.2 decline to $4.4 billion through nine-months 2008 from $49.6 billion through nine-months 2007. Insurers’ overall profitability as measured by their annualized rate of return on average policyholders’ surplus (or statutory net worth) increased to 4.5 in the first nine months of 2009, having previously fallen to 1.2 in the first nine months of 2008 from 13.1 in the first nine months of 2007.

National Conference of Insurance Legislators (NCOIL) is expressing grave concerns with a proposal by the National Association of Insurance Commissioners (NAIC) to form a commission intended to work alongside a future federal insurance regulator.

With the program set to expire at year’s end, President Obama has signed the latest in a series of temporary extensions to the National Flood Insurance Program (NFIP) into law.

It’s a given that the strains of the financial crisis have been felt by insurers involved in almost all lines of business. Like many industries, this strain has played out downstream, with policyholders mindful and concerned about the ebb and flow of mergers and acquisitions, insurance carriers and agents that go out of business, and more.

Across categories, 66% of claimants who give their carriers high satisfaction scores will renew their policies, but only 49% who give carriers low satisfaction scores plan to renew.

Reports today say CEO Benmosche has quashed the Chartis IPO; says P&C unit is a core holding.

OK, so some prominent global warming acolytes have been rigging the numbers; let’s just pretend that didn’t happen.

Chubb will work with the collaboration and innovation management tool company for two more years.

While regulators may have agreed to delay plans to treat equity-indexed annuities like securities, many bank-affiliated brokerages already have beaten them to the punch.

AIA foresees crucial 2010 for the insurance industry on Capitol Hill.

Democrats fend off filibuster attempt to move bill to floor.

Agency says detection and warning capabilities have grown since 2004.

Claims and rates are falling as financial crisis recedes, a new report finds.

Judge finds in favor of beleaguered insurer in case filed over annuity sales.

Legislation seeks to divide deposit and investment banks and prohibits commercial banks from engaging in all insurance activities.

Resolution extending unemployment insurance program contained in defense bill.

Liberty Mutual Updated its RISKTRAC to provide buyers and intermediaries with a single system for more effectively managing property/casualty insurance, disability and leave programs.

Report finds that medical malpractice costs decreased slightly in 2008.

Workers’ compensation insurers and actuaries will experience positive and negative impacts with or without health care reform, according to speakers at the Casualty Actuarial Society annual meeting.

S&P withdraws its “A-“ counterparty credit rating on CNA Insurance Co. Ltd., and A.M. Best affirms the FSR of “A” and ICR of “a+” of Swiss Reinsurance Co. Ltd. and its subsidiaries.

A panel of insurance technology experts share tips and tricks for putting innovation into play.

Moody's says insurers denied 20% to 25% of claims in the second and third quarters, up from a previously historic rate of 7%.

Despite Latinos being the fastest-growing market segment, retirement providers haven't yet devised a plan to woo the group off the fence when it comes to 401(k) enrollment.

AIG CEO Benmosche tells the Wall Street Journal that the company is too big today, and it needs to become smaller and more transparent.

Investment bank specializing in financial services sector tells investors P&C market is expected to be flat in the coming year.

Sandeep Malik will be based in Hong Kong, and report to Bernard S.Y. Fung, chairman and CEO of Aon Asia Pacific.

Focus is on the future of system performance, says solution provider.

House leaders had to make significant concessions for the reform bill to be passed, and it likely will have to be watered down even further to get out of the Senate.

The “Thinking Outside the Black Box” service is designed to help insurers examine how best to use cat models.

Insurer adopts ForeSight Version 5.0 as point-of-sale illustration solution for life products.

The Wall Street Journal reports that Goldman Sachs Group Inc. was a key player in AIG's trades, even in the ones involving other banks.

Given social media's rise in popularity among older demographic groups, it's now become a serious data security risk for insurers as attackers target their less tech-savvy customers.

Industry endorses federal insurance office created by sweeping bill, but insurers are unhappy with their inclusion in a new dissolution fund.

The bill could significantly impact the way insurers do business, given it paves the way for the creation of a consumer financial protection agency, and establishes a framework to minimize systemic risk.

Government doesn’t expect all companies that received bailouts to be able to repay.

The Committee of European Insurance and Occupational Pensions Supervisors predicts Europe’s insurers will feel pressure from low rates and H1N1 flu.

Aon expects property and D&O rates to stabilize and a soft casualty market to continue in 2010.

The House approved dozens of changes late Thursday to the financial regulatory reform bill, including measures to enhance the Federal Reserve Board's power to break up large, complex firms.

With the proliferation of security devices and software, you would think that virus infections are decreasing, but exactly the opposite is true. The question is—why?

A Robert Half survey found that while 7% of technology execs anticipate hiring IT staff in the Q1 2010, 4% plan reductions.

Regulators will not require auto insurers offer pay-as-you-drive policies.

Fitch Ratings expects a slight improvement in 2009 underwriting losses, but the improvement won’t last through 2010.

A survey of P&C CFOs shows that when subrogation is treated as a core activity, they can report higher profits and satisfaction.

The reform bill is expected to water down a provision to create a new consumer protection agency, among other plans.

For insurers looking to develop their social media strategy, looking to banks may offer some helpful clues.

Industry technology executives admit that adopting the changes required to innovate is no longer an option: CIO Insurance Summit report.

Tentative agreement would include private plans, expand medicare coverage, and regulate insurers' medical-loss ratio.

A.M. Best affirms Progressive and CUNA Mutual’s ratings, and S&P assigns a negative outlook to White Mountains Insurance Group.

New rule changes how insurers calculate admissible deferred tax assets.

Treasury Secretary Tim Geithner said TARP must be extended due to the remaining challenges for homeowners and small businesses.

The effects of regulatory reform, increased government intervention and potential tax law changes will keep stability at bay, at least for a few more years, says a PricewaterhouseCoopers report.

Regulation and expansion are included among Deloitte's six key topics for which insurance companies will be watching in the coming year.