Digital Platforms

Under increasing pressure, American International Group withheld $2.4 million in bonuses that were to be paid on July 15.

Conning Research reports that life insurers’ tactics may no longer be effective in the face of recessionary and regulatory impacts on state-based wealth demographics.

New York/New Jersey benchmarking survey identifies a trend of dedicated internal subrogation units, but undefined success guidelines and often-lagging technological resources.

Duck Creek, Oracle announce enhancements to front end offerings.

New research suggests that DVD capacities may increase 10,000-fold in 10 years, but will we be ready for the increased risks?

Insurers have two choices when it comes to conducting business in multiple countries: deploy a single core app cross-borders, or implement a dedicated core app in each market.

Report disputes link between claim activity and premiums.

A new report says that rather than rely on investment income, carriers need to invest in core competencies.

Judges say SEC should reconsider controversial ruling that would regulate annuities as securities.

A recent survey shows auto insurance buyers are ready for a change, and depending on the target market, insurers can take action.

Bill details show first hurdle for Tier I firms is just $10B assets

Government Accountability Office's study recommends that a new proposed systemic-risk regulator be specifically tasked with limiting leverage

While the tangible savings to paperless include decreases in postage and paper costs, the fringe benefit for insurers is potentially tapping into the growing eco-friendly customer segment.

A recent survey from John Hancock finds that 66% of employers are afraid of the costs to implement a long-term care plan, and 33% believe it is too time consuming.

Testifying before Congress, association chief urges use of a scalable system to measure risk companies pose.

House Financial Services Committee Chairman Barney Frank says consumer groups need time to respond to industry arguments against the new agency and efforts to limit its authority.

Consolidating its insurance, wealth and investment units resulted in referrals rising 100% last year, and are up 55% in the first half of 2009.

Insurance executives see the adverse financial climate reflected in their pay packages.

Short-term hard returns may be elusive, but the long view reveals soft returns aplenty.

After issuing a formal white paper on the subject last week, Travelers Companies Inc. also issued a request—to let an independent federal commission regulate rates for hurricane wind coverage.

In the heat of the summer across the wide open fields of middle-America, the National Association of Mutual Insurance Companies’ (NAMIC) Agricultural Risk Inspection School opened its classrooms this week to insurance loss control specialists, underwriters, managers and supervisors.

Morgan Stanley got the nod as the official IPO coordinator for American International Group Inc. (AIG), according to the Federal Reserve Bank of New York. AIG has been busy trying to push through an IPO of American International Assurance Co. Ltd. by early next year, and had selected Morgan Stanley and Deutsche Bank AG as global coordinators for that offering. As reported in Insurance Networking News, AIG also said last week that it was splitting off American Life Insurance Co., or Alico, in anticipation of a public sale of shares in New York.

Hannover Re, Munich Re and Manulife are just some of the insurers that recently saw ratings actions from A.M. Best.

New York Insurance Department statistics show arrests are down and convictions are up.

In an effort to instill confidence in insured retirement strategies by advocating for the consumer, NAVA has rebranded, immediately becoming the Insured Retirement Institute (IRI) http://www.IRIonline.org, now based in Washington, D.C. Along with the name change is a new staff focused on ensuring the insured retirement strategies industry thrives in the future, while protecting the consumers who invest in guaranteed income products such as annuities and promoting the highest ethical standards.

The American Council of Life Insurers (ACLI) is voicing concerns about long-term care legislation currently under consideration by the Senate Health, Education, Labor and Pensions (HELP) Committee.

The American Insurance Association (AIA) is looking to counter attempts to pass “bad faith” legislation in several states. The AIA contends the bills are an attempt by the plaintiffs’ bar to inject itself and tort principles into the policyholder-insurer relationship and will lead to frivolous lawsuits against insurers.

More than 1,000 members of the Health Insurance Agent & Broker Alliance besieged Senate and House offices on Capitol Hill yesterday.

It’s probably no surprise that 80% of crashes and 65% of near-crashes involve driver distraction. But identifying those distractions—and confirming whether a particular distraction is the cause of an accident—may be harder to prove.

Building a brand appears to be tricky business. This is being proven with the 36-year-old, 110-story black Sears Tower skyscraper now renamed after the London-based insurance broker Willis Group Holdings.

The initial public offering of American Life Insurance Company (ALICO) may be soon at hand. Alico’s parent, New York-based American International Group, Inc. (AIG) says it will accelerate steps to position ALICO as an independent entity.

Some observers think that we are at the beginning of the end of this financial crisis and its consequences while others believe this is just the end of the beginning. Celent has given its thoughts on the impact of the financial crisis on insurers in a report published in September last year: Bad News on the Street: Insurance IT Strategy and the Financial Crisis.

Under an agreement between the North Carolina Rate Bureau and the state’s insurance regulators that will roll back private auto insurance rates to 2006 levels and freeze them for two years, some North Carolina drivers will share a refund.

The discounts being offered by property and casualty insurers to owners of hybrid vehicles may be a thing of the past. According to a new study, hybrid drivers drive farther, receive more traffic/speeding tickets and incur costlier claims than conventional car drivers.

Trade associations send joint letter to legislators asking for exclusion from proposed federal agency.

In this age of tight budgets, it seems there are few tech jobs, but much work to be had. Yet dipping too heavily into the freelance market has its own dangers.

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Insurers face record claims as investigations of deadly crashes commence.

A freeze in IT hiring and reduction in contractor and consultant use top the list.

The restructuring combines institutional and individual businesses into single organization.

A new report says carriers can transform their operations by squeezing more out of existing enterprise applications.

HIMSS sent a letter yesterday asserting the Certification Commission for Healthcare Information Technology (CCHIT) should be the sole certifying entity for EHRs.

New research finds U.S. the property/casualty industry’s earnings plummeted to $1.2 billion at the beginning of 2009 due to underwriting and investment losses.

As the promise of the cloud unfolds, it’s likely that a typical cloud provider will be an industry partner that is capable of sharing applications and data.

The insurer says the opportunity allows them to develop "stronger partnerships" with banks by giving them more investment choices.

A study complains that CEOs are not well represented on social networking sites, but is that really a problem?

A new report sees foresees no major improvements in property/casualty results until 2011.

The AIG rollercoaster ride is far from being over, as the company’s stock juts downward, then upward in a few short trading days.

ING, Flagstone Re and Farmers Group subsidiaries acquired from AIG, to name a few, are targets of Fitch, S&P and A.M. Best’s recent actions.

Product offers adequate and affordable collateral to secure obligations, reports Aon.

New Broad Form PLUS+ policy provides extensive coverage for a changing marketplace.

The insurer hopes to jumpstart its new strategic application development initiative for large commercial products.