Digital Platforms

Hartford, Conn. - The surety business has recovered from a slump that began with the 2001 recession, according to a new study by Conning Research and Consulting Inc. "The combined ratio climbed more than 40 points and stayed there for the next three years," says Mark Jablonowski, an analyst at Conning, which has headquarters in Hartford. "While the recession and tightening credit resulted in skyrocketing losses, the property-casualty underwriting cycle also contributed to the problem." Those views are examined in a study called "The Surety Market: Taking Care of Business." It's Conning's first analysis of the surety segment, a business the company says has iinfluence well beyond its size because of its importance to construction and regulatory compliance. According to the study, a huge increase in losses during the 2001 to 2003 period wasn't just from claims reported but also from claims that developed badly and a falloff in recoveries and other claims mitigation, says Stephan Christiansen, Conning director of research. The situation turned round in 2004 and 2005, Christiansen observes, adding that 2006 showed continued improvement and the future looks good, too. Capacity is returning to the market but with a renewed appreciation for underwriting discipline, says Christiansen. "That new-found discipline, along with attention to automation and technology [that is]driving cost control," he says, "lead us to a positive forecast for the surety line over the next few years, with premium growing at least as fast as GDP." Source: Conning Research and Consulting Inc.

Washington - America's Health Insurance Plans (AHIP) has collaborated with The Centers for Disease Control and Prevention (CDC) to develop a checklist insurers can use to prepare contingency plans for a flu pandemic.

Rochester, N.Y. – Many Americans are satisfied with how their personal health information is used, but a substantial number express reservations about the confidentiality and security of their health data, a new survey shows.

Washington, D.C. – America needs a public-private partnership to protect families from a devastating, massive hurricane or earthquake, the head of a coalition that includes insurers said in testimony this week before Congress. Such catastrophes have dulled the industry’s appetite for insuring against such events, said another witness, a representative of an agents’ and brokers’ association.

Washington - The National Association of Professional Insurance Agents (PIA) has asked its members to challenge the U.S. Chamber of Commerce’s recent endorsement of optional federal charters for insurers.

Phoenix, Ariz. - Insurance industry groups have banded together to create eight data initiatives and a central data repository to combat fraud, according to the keynote speaker at an industrywide meeting here of property/casualty claims and special investigations executives.

BELLEVUE, Wash. - Symetra Financial has appointed Tommie Brooks as vice president and chief actuary. He will assume leadership of the Actuarial Division from Margaret Meister, who is relinquishing the post but continues to serve as executive vice president and chief financial officer.

San Francisco - Woodruff-Sawyer & Co., an independent insurance brokerage based here, has acquired Northwest Benefit Planning in Portland, Ore.

Unitrin Direct insurance cos., subsidiaries of Chicago-based Unitrin Inc., are offering a $50 discount in 17 states for customers who use Esignature, an service that lets customers sign policy documents online."One of our main goals at Unitrin Direct is to continually seek new ways to provide a terrific value on outstanding car insurance coverage," says Unitrin Direct President Scott Carter. "With Esignature, consumers not only save money instantly, they do it with the knowledge that they have a trusted company behind them that prioritizes customer service."

Branchville, N.J. – Selective Insurance Co. of America, a Branchville, N.J.-based subsidiary of Selective Insurance Group Inc., appointed three information technology services (ITS) managers.

Johannesburg, South Africa – Insurers looking to enhance their contact centers may want to consider convergence, primarily driven by the increased acceptance of internet protocol (IP) and improved reliability, scalability and proven benefits that come with maturing product sets. According to the latest findings in Dimension Data plc's "Global Contact Centre Benchmarking Report 2007," more than 60% of contact centers—representing a number of industries across 42 countries and five continents—have introduced IP-based or hybrid IP private branch exchange (PBX)/automatic call distribution systems (ACD), which is an increase from the 50% recorded last year.

London - Senior executives and risk professionals consider data loss the most significant threat and key issue to address in operational risk management planning, according to a global risk briefing report conducted by the Economist Intelligence Unit (EIU) and sponsored by London-based ACE European Group Ltd. (ACE).More than 40% of the 181 respondents said their organization focuses more on loss of data than other issues—including systems failure, human error and even natural disasters.

New York and Cupertino, Calif. - Last week brought yet another security scare to a health insurer. Empire Blue Cross Blue Shield, a New York-based subsidiary of WellPoint Inc., reported that Magellan Behavioral Health Services located a CD sent via UPS by Health Data Management Solutions (HDMS), a third party vendor to Magellan, an Empire benefit program administrator, that included some members' personal health information. The CD was lost in transit but was located. The insurer reports that although there was no indication that the CD had been stolen, last week Empire sent a letter to inform affected groups and members who may have been impacted.

Chicago - Aon Corp., Chicago, completed its acquisition of Valley Oak Systems, San Ramon, Calif. The terms of the transaction were not disclosed.

New York - Most corporate board members talk the talk about the importance of information technology to their company, but fewer are taking actions to align IT with overall corporate strategy. This is the overarching message coming out of a new survey, "The Board and Information Technology Strategies," by Deloitte Consulting LLP, a subsidiary of Deloitte & Touche USA LLP, a New York professional services provider, and Corporate Board Member magazine. The survey respondents also suggested a distinct and positive correlation between the attention paid to IT and corporate performance. The survey was conducted in the fall of 2006 and involved more than 450 directors of publicly traded companies with revenues of more than $1 billion. Financial services companies represented 19% of the mix, 7% in insurance. The directors responded to questions ranging from how often their boards discuss IT strategy to how they think IT has affected their companies' ability to effectively meet their business objectives. A significant gap does exist between the emphasis the board seems to place on IT and the things they are doing to address it, Larry Danielson, a principal with Deloitte Consulting who focuses primarily on the insurance industry, told Insurance Networking News. "This indicative of an insurance company board's comfort zone," says Danielson. "Boards are seasoned individuals who are asked to apply judgment on many different topics. In this regard, technology is a misnomer, because it's often thought of in the highly technical arena of software and hardware, when it's really about overall strategy, business change and improvement." According to the Deloitte & Touche report, directors and senior executives blame this gap on the number of other things that have been hitting the insurance company board's agenda, namely regulatory compliance and top line growth. "Top line growth varies by segment," says Danielson, "but clearly the life area faces some hurdles. With the influx of Baby Boomers seeking better retirement returns, life insurers are struggling with what to do, because their infrastructures are not designed in similar fashion to a typical investment firm. An investment company's business model is such that they can see every day where they stand financially." Some of the key findings and trends from the survey include: * Boards are not involved to the degree they believe they should be in IT; directors did not indicate a commensurate level of activity with the level of recognition of IT's importance.* Ten percent of boards relegate IT matters to a board committee. * Only 11% of boards discuss IT at every meeting. * Fourteen percent of boards are "completely and actively involved" in IT strategy. * Directors who report a higher level of involvement in IT matters have a better understanding of IT's importance to their business and their performance. * Directors report that effectiveness in executing on IT strategy correlates to better financial performance. Furthermore, the survey found that even though 22% of the respondents blame various aspects of IT strategy for their companies' inability to achieve its goals, 52% say their board will be spending no more time on IT over the next three years than it does now. The findings also indicated that when the CEO leads the discussion, boards are more completely and actively involved in IT. "In the not so distant old days, technology was more of a support system than an actual business strategy. Today technology and IT are key business strategies and typically are accompanied by capital budgets reaching as high as a billion dollars in larger companies," said TK Kerstetter, president and CEO of Corporate Board Member, a Brentwood, Tenn. publisher. "The days of not understanding IT in the boardroom are gone, and I expect we will see more CIOs and CTOs invited to serve as board members in the years ahead." According to Danielson, this may not be the ultimate solution for insurance companies, but it's a start. "It's important to get senior people to talk about technology," he says, "and as an adjunct, board members need to be better educated. They need a better understanding on lead-time for IT project completion, potential technology pitfalls and ultimate benefits. It's really about managing expectations upward." Source: Deloitte & Touche USA LLP

Dublin - Research and Markets, a Dublin research firm, released a new offering, “The Life Insurance Carriers Industry Report,” the company reports. The report includes 2007 and 2008 forecast estimates on the size of the industry (sales, establishments, employment) for the 47 largest world countries. The report also includes industry definition, 5-year historical trends on industry sales, establishments and employment and estimates on up to 10 sub-industries, including fraternal life insurance organizations, mutual association life insurance, and life insurance agents.

New York - A National Association of Insurance Commissioners personal lines working group expressed mixed feelings recently concerning a draft proposal that would authorize insurers to ignore current filed rates and competitively bid on applicants seeking coverage thorough a proposed electronic insurance exchange system. The "Alternative Recommendation for a Pilot Project Testing Pricing Freedom" draft, which was presented via conference call on February 22 to the Personal Lines Market Regulatory Framework Working Group, is based on the use of a technology platform called the "Insurance Exchange," sources at NAIC confirmed. The insurance exchange technology, first publicized by the Council of Insurance Agents and Brokers and reported in Insurance Networking News, March 2007, p. 6), is designed to streamline the underwriting process, says the NAIC draft proposal. The premise of the technology is to enable an insurance producer to complete a single application for a variety of insurance products and to submit that single application to multiple insurers. Insurers respond with a quote if they are interested in the risk. Once the applicant selects the insurer, the producer uses the insurance exchange to inform the insurer and the insurer issues the policy to the applicant. According to the draft proposed to the NAIC Working Group, which functions under the auspices of the NAIC's Speed to Market Committee, "In exchange for providing easy access to multiple quotations, the insurers could be offered pricing freedom through a pilot project that is enabled by interested insurance regulators." The proposal states that participating states use discretionary authority contained in current rating laws to enable a pilot project that: *Applies to personal auto insurance and homeowner insurance coverages (other products could be added); *Authorizes insurers to ignore current filed rates and competitively bid on applicants seeking coverage thorough the electronic insurance exchange system; *Allows an insurance producer selected by the applicant to assist the applicant with completion of a single application that is submitted through the system to all interested insurers; *Requires insurers to disclose coverage terms and conditions to the applicant, through the insurance producer, along with the competitive bid detailing the cost for the coverages requested by the applicant; *Provides insurance regulators with statistical information needed to evaluate whether the pricing freedom is providing applicants with sufficient information and broad selection among a variety of insurers and insurance products; and *Leads to a formal evaluation of the success or failure of the pilot project by participating states. The introduction of the draft, says Working Group chair D. David Parsons, Deputy Commissioner, State of Alabama Department of Insurance, was merely that: a simple introduction to the Working Group of the topic as "floating option" for possible consideration for a larger agenda of "developing a system that would be less intrusive, and that would allow carriers to get their products out to consumers in a more efficient manner." "We didn't have an official vote count or even a quorum," Parsons told INN, "but we did hear a number of states express disapproval [about the pilot], and a few that expressed positive feedback." Parsons attributes the disparate responses to the insurance industry's culture. "In some ways state regulation is cumbersome to the industry," he said. "There are so many diverse opinions. Our working group's charge is to try to improve that... get to the public more efficiently... at less cost to them and with good protection." Parsons admitted that the industry faces several large hurdles, including differences in filing issues, licensing issues and more. "There is a lot to be worked out," he said. "But this is a good group and they are passionate about their positions. We would like to see, at a minimum, flex rating come out of this," he said. Source: National Association of Insurance Commissioners

Kansas City, Mo. - Recent statistics show that while consumer complaints decreased for the third consecutive year, the reasons behind those complaints have remained relatively the same for the past five years: Consumers want faster customer service. According to data collected by the National Association of Insurance Commissioners (NAIC), the top three reasons consumers filed formal complaints against their insurance companies in 2006 were delays, denials of claims and unsatisfactory settlement offers. Rounding out the top five sources of consumer complaints were policy cancellations and premiums/insurance rating issues. The NAIC maintains a centralized electronic Complaint Database System (CDS), through which states voluntarily report “closed” complaints. A closed complaint is a complaint that has been investigated and resolved to the satisfaction of the state or jurisdiction in which it is filed. First established in 1990, the CDS was significantly expanded in 1998 and now houses more than 2 million complaints. A total of 190,572 consumer complaints were reported to CDS in 2006, a 7.8% decrease from the previous year. This information is based on the submission of data to the NAIC from the state insurance departments. The NAIC does not collect all complaint data from all states. Aggregate data compiled from the CDS can be accessed on the NAIC’s Web site through the Consumer Information Source link. By accessing this program, consumers can obtain company–specific complaint ratios (the ratio of the company’s market share of complaints compared to the company’s market share of premiums for a specific policy type), as well as aggregate counts of complaints by state and by type of coverage for specific companies. Below is details the top five types of complaints and the top five complained about insurance coverages for 2006. Included is the total number of complaints (for complaint type and line of coverage), followed by the percentage of overall complaints each type represents. (Example: “Delays” make up 21.9% of all complaints received by the NAIC in 2006.) Top 5 Types of Complaints in 2006: Delays: Total number reported: 41,647; Percentage 21.9% Denial of Claim: Total number reported: 3,601; Percentage 18.7% Unsatisfactory Settlement Offer: Total number reported: 26,556; Percentage 13.9% Cancellation: Total number reported: 12,467; Percentage 6.5% Top 5 Complaints by Type of Coverage in 2006:Auto: Total number reported: 71,302; Percentage 37.4% Accident & Health: Total number reported: 62,954; Percentage 33.0% Homeowners: Total number reported: 24,785; Percentage 13.0% Life & Annuity: Total number reported: 16,939; Percentage 8.9% Commercial Multiperil: Total number reported: 3,521; Percentage 1.9%

Hartford, Conn. - Travelers seems to understand that the term "in sickness and in health" can take on an additional meaning for the more than 3,000 weddings that take place every day in the U.S. with the average cost of wedding now reaching $27,000* the Hartford, Conn. insurer is launching of its Wedding Protector Plan, an insurance policy covering weddings. The company plans to attract this niche market with a special Web site, AgentProtectMyWedding.com. The site is designed to help consumers learn about wedding insurance, and includes a premium calculator and a risk quiz to help consumers determine how much risk surrounds their wedding. Consumers can also use the online agent locator to find a nearby Travelers independent agent to discuss purchasing protection. Coverage can be purchased within 14 days of the event. The Web site also offers an e-newsletter for newlyweds, which covers topics from lifestyle to money management tips, designed to help couples become in-synch with their lives as one. The Wedding Protector Plan provides coverage, with no deductible, for a variety of unfortunate occurrences associated with a wedding event. For example, coverage is provided if a hurricane causes the necessary and unavoidable cancellation or postponement of the event. Other coverage includes postponement for withdrawal of military leave, forfeited and lost deposits, extra expenses associated with special attire, transportation, photographs, and entertainment expenses. The Travelers reports that the top wedding claims and problems typically include damage to wedding attire, mishaps with event photography, cancellation due to illness or bereavement, and no-shows by contracted vendors.** * Conde Nast Bridal Media - American Wedding Study, 2006** MSN.com (UK) Source: The Travelers, a business of The St. Paul Travelers Companies Inc.

Gig Harbor, Wash. - Jon Kaplan, head of financial services, advertising, for Google, Inc. and Roger Dawson, a nationally recognized speaker, negotiator and author, will headline the 2007 annual meeting of the Insurance Marketing Communication Association (IMCA), June 3-6, 2007 in Newport, R.I. In his role, Kaplan sets the overall strategy for Google's national advertising sales team and for enhancing product offerings, and works with regional sales teams on strategic clients. Roger Dawson, a full-time speaker and author, is considered a negotiations expert. A full-time speaker since 1982, Dawson has trained managers and salespeople at top companies and leading associations throughout the United States, Canada and Australia. Jeanne Salavatore, senior vice president, public affairs, Insurance Information Institute, is also scheduled to address the group. She will "grade" the insurance industry on how well it is doing in its communications in her presentation, "Why Insurers Should Care About Communications." Source: Insurance Marketing Communication Association

Warren, N.J. - With businesses of all sizes looking to buy and sell overseas, the Chubb Group of Insurance Cos., Warren, N.J., released an ocean cargo policy and launched CargoPort, an online system that enables customers to view their policies, submit claims and monitor shipping activities.

New York - Insurers are taking enterprise risk management (ERM) seriously, but many companies have begun ERM programs without taking the necessary step of getting management consensus on risk appetite.

Las Vegas - An Allstate executive is among the IT pros who have been named winners of the Pink Elephant Inc. 2007 IT Infrastructure Library Awards.

An insurance trade group has joined a chorus of New York officials in asking Congress to renew the Terrorism Risk Insurance Act, which is set to expire at the end of this year.

Washington - Insurers are urging Congress to preserve a federal anti-trust exemption granted to the industry in 1945. The exemption has come under scrutiny by legislators in the aftermath of Hurricane Katrina, insurance trade associations say.

Chicago - The fortunes of two industries are beginning to intertwine, according to Cards & Payments, a Chicago-based sister publication of Insurance Networking News.

Atlanta - Blue Cross Blue Shield of Georgia Foundation (BCBSGa Foundation), which supports the charitable activities of Blue Cross Blue Shield of Georgia, awarded $80,000 grants to 11 rural hospitals across the state of Georgia have each been awarded for the purchase of a teleradiology system.Teleradiology enables small, rural hospitals to connect with radiologists in larger cities to receive and interpret radiology images. Utilizing digital technology and specialized computer monitors, remote radiologists in Savannah, Atlanta, Macon and other major markets will be able to receive images and provide faster diagnosis and consultations to attending physicians in rural areas.

It took two centuries to fill the U.S. Library of Congress in Washington, D.C., with more than 29 million books and periodicals, 2.7 million recordings, 12 million photographs, 4.8 million maps and 57 million manuscripts.Today, it takes about 15 minutes for the world to churn out an equivalent amount of new digital information. It does so about 100 times every day, for a grand total of five exabytes annually.

DIRECT MARKETING TOOL ENHANCEDMelissa Data announced the addition of multi-platform capabilities to the Canadian Address Object, a complementary product to the Rancho Santa Margarita, Calif. company's Data Quality Suite, a direct-marketing tool that verifies and corrects address, phone and contact data.

With so much business conducted via the Internet, executives at Winged Keel Group Inc. decided the staff had to save each-and-every e-mail message, simply to keep the boutique life insurance and long-term disability firm on the right track."We are a technologically advanced company, so a lot of our business was being conducted via e-mail," says Pramod Navani, managing director of operations at the New York-based insurer. "A few years ago, our company instituted a rule that no one was allowed to delete e-mails."

STRATEGIC GOALS GUIDE IT SPENDINGSenior insurance IT executives are making strategic investments, but budgets and staff size are generally flat or growing only modestly.

INSURER AUTOMATES INTERNAL CONTROLSPhysicians Mutual, based in Omaha, Neb., selected OpenPages FCM for its financial controls management initiatives. OpenPages FCM is an enterprise financial controls management solution designed to reduce time and resource costs associated with ongoing financial reporting regulations. It is expected to reduce Physician Mutual's time and costs associated with efforts to comply with changes to National Association of Insurance Companies financial reporting regulations. "OpenPages allows us to automate our ongoing assessment and monitoring of internal controls and ensure that compliance initiatives align with our business strategy," says Barbara Bergmeier, senior vice president of internal audit, Physicians Mutual.

Waukesha, Wis. - Markel American Insurance Co. launched its new Web site (www.markelinsuresfun.com). The site is designed to provide a single access point to people seeking to insure their recreation. The site enables customers and potential customers to quote and purchase insurance for their motorcycle, boat, personal watercraft and ATV all in one place. In addition, the site will be regularly updated with industry news, stories and trends to provide visitors with the information they are looking for to stay up to date on their favorite activities.

Franklin Lakes, N.J. - Patients are 58% more likely to switch to a lower-cost prescription drug when assisted by an online tool that allows them to compare prices, a new study from pharmacy benefit manager Medco reveals.

Cambridge, Mass. - In the 1980s, with a few exceptions, CEOs perceived information technology/business technology (IT/BT) as an important underpinning of company operations, but not as a critical strategic tool, according to George Colony, chairman of the Board and CEO at Cambridge, Mass.-based Forrester Research Inc.

New York – New York Life Insurance Co. promoted Richard Eppink, Jr. to vice president in the Special Markets Department, reporting to first vice president Victoria Buhrow. Eppink is now responsible for developing and executing strategic direct marketing plans for the AARP Lifetime Income Program, New York Life's Tampa-based operation which markets and administers income annuity products to AARP members. Eppink joined New York Life in 1999 as an assistant vice president of marketing with the AARP Life Insurance Program, and was promoted to corporate vice president in 2002.

Bloomfield, Conn. - Juan Conde joined Bloomfield, Conn.-based CIGNA HealthCare as CIO. He is responsible for the IT strategy and delivery of CIGNA's consumer-focused technology solutions.

Washington – Republican House Minority Whip Roy Blunt of Missouri is scheduled to address the Independent Insurance Agents & Brokers (the Big “I”) Legislative Conference & Convention in April.

Bothell, Wash. - AMS Services, an insurance agency automation service provider that provides agency management, rating, benefits, performance management and carrier connectivity, announced the general availability of AMS Prevail Network, a Web-based marketplace of premium finance companies. The AMS Prevail Network is a free, agent-oriented marketplace designed to provide insurance agents one-click access to multiple premium finance offerings. More than 200 agencies are currently using the AMS Prevail Network for their financing needs. Agents simply launch the network from within their AMS Services management system and quotes, based on advanced finance matching rules, return in real time. The Bothell, Wash.-based AMS Services also announced that BankDirect Capital Finance, UPAC, Cananwill Premium Funding and Siuprem Inc. have joined the network of finance companies available through the AMS Prevail Network. The AMS Prevail Network provides users with direct access to a full range of terms, rates and financial services available on the market, with no switching fees for changing providers. The new sysem also enables users to use a browser to key in policy data once for multiple quotes, set up finance companies via via a single click, and use check boxes to choose the finance options within the agency management system. Source: AMS Services

Chicago - Blue Cross and Blue Shield (BCBS) of Illinois announced that it plans to expand its e-prescribing initiative throughout Illinois. This follows on a plan BCBS announced in January in which the Anthem BCBS group would expand the effort in Ohio.

Kansas City, Mo. - The National Association of Insurance Commissioners (NAIC) Property and Casualty Insurance (C) Committee's Catastrophe Insurance Working Group will evaluate modeling for multi-state funding of catastrophes such as hurricanes or earthquakes, reports NAIC. The agreement came out of a meeting to discuss catastrophe preparedness and the potential development of a multi-state catastrophe fund.

New York - A group of companies from around the world, including Swiss Re, Allianz, ING, Marsh & McLennan Companies and Munich Re, endorsed a statement for affecting climate change at the levels of policy and industry, particularly in regard to creating sustainable energy systems necessary for achieving economic growth.

New York - Look for accelerated growth this year of the outsourcing trends that predominated in 2006: Expansion of business process outsourcing (BPO), the maturing of the offshore market and more multi-sourcing at the expense of single, one-off “mega-deals.”

Los Angeles - Farmers Insurance Group of Companies appointed Keitha Schofield, president and chief operating officer of Farmers Services, a new support services entity which will include finance, audit, human resources, communications, procurement, real estate, service point/service centers and information technology. She also serves on the Farmers Group, Inc. board of directors. Schofield joined Farmers in 1995 as senior vice president and CIO and until this recent appointment served as executive vice president—support services.Los Angeles-based Farmers made other executive appointments:

New York - As the oversight role of the corporate board in enterprise risk management (ERM) expands, companies feel the need to fill a knowledge gap on effective risk governance practices, according to a major new study released today by The Conference Board Inc."The concept of correlating risk management and strategy in an enterprisewide structure first appeared in the midst of merger frenzy in the late 1980s," says Matteo Tonello, who focuses on corporate governance at The Conference Board, New York, and is the author of the study. "At the time, many executives and strategists acknowledged that the enormous amount of risk undertaken through a series of corporate combinations was often not justified by a sound analysis of long-term prospects. In the 1990s, the debate continued and increasingly drew the attention of the business community, only to be obfuscated by the more exclusive focus on financial risks resulting from the scandals of the Enron era. A few years into the implementation of the Sarbanes-Oxley Act of 2002, corporations are now ready to leverage their experience with mandatory internal control procedures to establish a more comprehensive ERM infrastructure."

Geneva, Ill. - Professional liability insurer Insight Insurance Services Inc. joined in the fight against malaria across Africa by creating the "Netraiser Team" on the Nothing But Nets campaign Web site. The Geneva, Ill.-based insurer is appealing to its agents and brokers to contribute to the campaign. The campaign is designed to prevent malaria across Africa with the distribution of anti-malaria bed nets.

San Diego - New York, California, Nevada and Arizona have the highest rates of identity fraud, according to research from San Diego-based ID Analytics Inc. The analytical research—based on actual and attempted frauds rather than consumer victim reports—also shows that the highest metropolitan area rates of identity fraud are in New York, while the states with the lowest rates of identity fraud are Wyoming, Vermont and Montana.

Oakbrook Terrace, Ill. – Buyers of managed information technology (IT) services will focus on security, storage and disaster recovery services in 2007, according to research commissioned by Oakbrook Terrace, Ill.-based Computing Technology Industry Association Inc. (CompTIA) and conducted by Rochester, N.Y.-based Harris Interactive Inc.

Kansas City, Mo. - U.S. Census projections issued in 2004 state the number of U.S population speak a language other than English at home will continue to trend upward. Two insurance industry organizations addressed this trend by launching Spanish-language Web sites.

Reston, Va. - The National Association for Variable Annuities (NAVA) announced an industry-backed initiative to establish a comprehensive set of standards for simplifying and improving the electronic annuity purchasing process for consumers and insurers.

Washington - "The considerable size and cost of catastrophes present unique challenges to participants in the insurance market. Namely, it makes management of potential liability by any single insurance company nearly impossible. In some cases, even the assets of the entire insurance industry are inadequate to reduce potential liability to commercially acceptable level." This statement comes from "An Analysis of Catastrophic Risk Insurance Proposals," a report published by The Council of Insurance Agents & Brokers, produced by Georgetown Economic Services LLC and financed by the Foundation for Agency Management Excellence (FAME)—all based in Washington. The report analyzes the various legislative proposals have been advanced to deal with the problem of insuring catastrophic risk, from natural disasters to acts of terrorism.

Boston - Wrap platforms are changing the way UK insurance firms are able to distribute their products and will raise a number of challenges for IT departments, according to a new report issued by Boston-based research firm Celent LLC.