Digital Platforms

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.

insurance_technology_health_care_videoconferencing_Cisco_Systems_UnitedHealth_Group

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.

A Towers Perrin study finds insurers are committed to returning their plans to a better funding status for the longer-term, but their ongoing commitment to the plans rests on economic recovery and reasonable regulations.

Another measure to temporarily extend the federal backstop is introduced in the House.

The consulting firm releases the top 50 life/health and property/casualty insurers.

A new report foresees an increased demand for reinsurance as life insurers look to spread out risks.

INN announces the results of its fourth annual program recognizing the distinct and outstanding accomplishments and contributions of women in the insurance industry.

A new survey from Allstate ranks the best and worst drivers by city.

Jury rules former CEO does not have to reimburse insurer for shares removed in 2005.

Overreactions to climate change may endanger the beef supply.

Despite personnel and IT being insurers' key expenses in this economic climate, Celent research finds carriers understand that technology can enable further cost reductions.

In a letter to the Office of the National Coordinator for Health Information Technology, vendor Enclarity said that without appropriate data management, the accuracy, efficacy and overall usefulness of EHRs can be called into question.

The portal, from eHealth Inc., will enable brokers and agents in Arkansas and Missouri to prepare quotes and submit applications for coverage.

While innovation within insurance companies may be stifled due to the tricky regulatory environment, auto insurers are quietly making waves.

A majority of corporate executives report the need to overhaul their risk management approach, an Accenture study finds, and their starting point should be in integration of risk management and performance management processes.

In a clear signal that brings to mind the band’s 1984 hit “We’re Not Gonna Take It,” the financial services giant is suing Arch Insurance Group for alleged bullying of Hartford employees, repeated disparagement and theft of trade secrets.

Cisco Systems' research puts actual numbers behind teleworking’s benefits.

Upp Technology will provide BCBS members "competitive pricing," rapid response times and access to more than 25,000 IT pros.

Are we really heading toward a day when we’ll all be zipping around in airborne automobiles? Probably not.