Insurance

The last five years find the P&C sector performing below industry averages, according to a new report from Fitch.

The U.S. House of Representatives overwhelmingly approved the bipartisan insurance agent licensing reform bill, also known as the National Association of Registered Agents and Brokers Reform Act of 2013 (NARAB II), by a 397-6 vote.

The federal case, thus far, involves 41 North Carolina tobacco farmers, as well as insurance agents and claims adjusters.

USAA, a direct seller and one of the first insurers to adapt to social networking, is also, according to J.D. Power, the most trusted brand in the industry.

Todd Greeley, former CNA VP, hired to work closely with underwriting, brokers and customers

Ovum says budgets will increase 6.5 percent CAGR over the next four years as insurers shift to growth strategies from cost-cutting.

In a new FICO survey, 31 percent of insurers said fraud accounts for as much as 20 percent of claims costs.

Acquisition of agency and provider intended to strengthen NFP's P&C West Coast presence.

Under the deal, Chase agreed not to take commissions or engage in certain reinsurance arrangements with Assurant for six years.

Operational efficiency and underwriting discipline are crucial for growth and therefore are dictating commercial lines carriers’ technology purchases, according to a report from Novarica.

In the past 18 months, an estimated $10 billion of new capital has entered the reinsurance market and changed the nature of the sector's capital structure, according to “Capital Stewardship: Charting the Course to Profitable Growth,” a mid-year market report from Guy Carpenter.

Commercial insurance prices rose 6 percent, continuing the trend of steady increases, according to a recent Towers Watson study.

Software providers unify user interfaces and increase focus on business intelligence.

Reinsurers are under pressure to shore up earnings hurt by disaster claims and low interest rates.

BriteCore, a policy administration system, is now supplemented by policy forms and rating information from the American Association of Insurance Services.

Jay Woods and John Haldeman will lead the new practice from the New York office.

Specialty insurer turns to M&A to expand its presence in the mobile insurance market.

FireLight, an e-application business fulfillment platform, is designed with a mobile component as well.

Wildfire and flood claims were not enough to knock either sector off course last month.

Some of the same data analysis technologies being used by Western governments are cheap enough to be employed by financial services companies as well.