Insurance

Estimates from the National Insurance Crime Bureau are holding as the firm identifies and removes thousands of damaged vehicles.

In aggregate, commercial insurance prices increased 6 percent during Q3 2012 compared with the same period last year, according to “Commercial Lines Insurance Pricing Survey (CLIPS),” a survey conducted by Towers Watson. This was the seventh consecutive quarter that aggregate prices for all commercial lines rose.

Despite declines from four of the industry’s top life insurance writers, overall life premiums stay relatively flat in the third quarter.

The IT job market grew by 8,700 jobs in November, and has grown by 59,400 jobs over the last 12 months, according to BLS data.

New York Life announced today that John O’Gara and Richard Simonetti have each been elected SVPs in the company’s Agency Department, reporting to EVP and Head of Agency Mark Pfaff.

American International Group, Inc. confirmed today that it is in discussions to sell a 90-percent interest in International Lease Finance Corporation (ILFC) to an investor group.

Fitch Ratings expects that revenue and earnings growth for U.S. insurance brokers—specifically Aon, Marsh & McLennan Companies and Willis Group—in 2013 will remain relatively stable.

Tony Mercurio has served as CEO of Vanliner since 1997.

Gudvangen will be responsible for managing policyholder service delivery, including policyholder benefits and claims. She will also oversee administration of the closed block of business, and will lead the development of a new team focused on operations actuarial and tax. Gudvangen will report to the SVP of Enterprise Operations, Jasmine Jirele.

Insurer anticipates using OnBase throughout the enterprise to connect information in policy management, billing and claims systems.

In November 2012, the overall composite rate for insuring commercial accounts in the United States was up 5 percent as compared to November 2011, according to MarketScout’s Commercial and Personal Lines Market Barometers.

UBI and insurance telematics are touted for their ability to save premium dollars, but wider adoption could also save lives and slow global climate change.

Mobile capabilities enhanced as well as industry-specific updates, which are designed to accommodate companies under regulatory pressure.

Detica NetReveal’s analytics solution brought in to protect insurer from skyrocketing questionable claims in the P&C sector.

Continuing its strategy for expansion, Marsh & McLennan Agency LLC (MMA), a subsidiary of insurance broker Marsh Inc., today announced the acquisition of Brower Insurance Agency, one of the largest independent agencies in Ohio. Terms of the transaction were not disclosed.

An E&S industry initiative is pushing for improved processes by way of automation—with which both agents and carriers win.

Point-of-sale solution designed to make customer experience simpler while cracking down on fraud.

Ward Group recommends statistical evaluation of distributors, as well as increasing collaboration and communication regarding goals and risk appetite.

Kim Garland vacates role as CEO of United Guaranty Corp., which will be filled by Donna DeMaio.

Another report confirms strong quarter for indexed and income annuities.