Insurance

While advances have been made, insurers need to remain vigilant when assessing the cloud security offered by providers.

Free informative app, called WreckCheck, designed to help consumers protect property, identities with accident reports.

During the first half of 2012, 58,523 questionable claims were referred, according to the National Insurance Crime Bureau.

Nationwide CEO Steve Rasmussen announced this afternoon that Mark Berven has been named EVP and chief strategy and product management officer. In this new role, Berven will oversee strategy for Nationwide and the product organization for P&C business lines.

Deloitte's new report outlines two types of fraud: the deliberate faking of an accident and fabrication of a claim, called hard fraud, and exaggerated values on legitimate claims or misrepresented information in an attempt to garner lower policy premiums, labeled soft fraud.

Michael Palmer will lead the analytics team in Bermuda and help develop the company’s understanding of all aspects of catastrophe risk.

Aviva is looking for 5,000 UK drivers with Android smartphones to test its RateMyDrive app.

Bank-owned life insurance (BOLI) assets reached $145.6 billion in the first quarter of 2012, an 8.7 percent year-over-year increase from the reported BOLI assets of $133.9 billion for the same period in 2011, according to the Michael White/Meyer-Chatfield Bank-Owned Life Insurance Holdings Report.

AgencyPoint agent recruiting and training center opened to push expansion into a new market.

Falling costs largely attributable to decrease in medical benefits for injured workers, according to the National Academy of Social Insurance.

Benefit Builder, an alternative to a traditional inflation option, is designed to provide automatic increases in benefits that occur gradually over time, as well as voluntary buy-up options.

Terri Vaughan will step down during the first quarter of 2013; National Association of Insurance Commissioners officers will conduct a national search later this year to fill the position.

Second half of 2012 will likely test reserves, balance sheets and underwriting acumen—Keefe Bruyette & Woods expects Ace Ltd., Chubb Corp., Marsh & Mclennan Cos. and Proassurance Corp. to pass those tests with strong reserves and quality franchises.

J. Michael Kirchgessner will officially take up his post and join CNA Monday, August 13.

21st Century, Argo, Infinity, EMC, Manulife, Tower and XL Group all released their second-quarter results.

A new chief audit executive and VP of insurance operations systems head the list of eight executive appointments.

Multiple billing systems to be consolidated to cloud-delivered STG Billing solution.

With the acquisition of Harris, Rothenberg International Inc., the health insurer expects to expand its employee assistance program and work-life offering.

Tom Barta shifts the focus of his office while Erik Helding receives a promotion to SVP, treasury and investor relations.

The specialty insurer looks to the claims management software to support its goal of increasing effectiveness and efficiency of payments.