Insurance

As studies confirm the promise and limits of traditional safe driving initiatives, technology may provide an answer.

Following an extensive review, the insurer will discontinue new LTCI enrollments in 2011.

Selective Insurance Company of America added or promoted people to seven senior-level positions.

Andrew Appel will leave the company at year's end.

Sandra Parrillo, president and CEO of Providence Mutual Fire Insurance Co. and Women in Insurance Leadership Honoree, discusses how she plans to balance priorities as first-ever woman chair of the National Association of Mutual Insurance Companies.

The feds say it will be a “secure” system, but definitions of security vary.

A number of insurers have begun to release their financial results for Q3 2010. The following is a compilation of their announcements:

Study finds large employers "are reluctant to lose control over a key employee benefit."

After reporting a $2.4 billion net loss for the third quarter, Chartis, flagship property/casualty insurance arm of American International Group (AIG), says it plans to downsize two percent of its workforce.

Many employers are still undecided on what to do, according to a Willis Group Holdings study.

A new Celent report profiles 28 vendors serving Europe, the Middle East and Africa, noting that cost isn’t most important issue for insurers.

Complexity, timeliness, effective teamwork, risk mitigation, cost management and delivery—all aided by using a checklist.

The transaction is slated to close in late-2010 or early-2011, subject to customary approvals.

IT is now called upon to play a more proactive role to help insurers advance in a new globalized, hyper-competitive environment.

Software promises to help drive variable and fixed annuity sales.

A.M. Best, Fitch Ratings, Moody’s Investors Service and Standard & Poor's announced ratings updates. The following are some of the most recent:

Insurer Health Net is fined $375,000 following a large breach of personal health information in late 2009.

As a response to the economic challenges of the past two years, insurance companies are wrestling with rising claims, both legitimate and fraudulent, more competition for new customers, and new restrictions on investment activities that have reduced operational budgets, notes Mitratech, a provider of collaborative accountability applications including matter management and e-billing management automation.

Report says weak pricing environment may become the “new normal.”

Women in Insurance Leadership Honoree Susan Gueli, SVP & CIO of Nationwide Financial Services, provides some helpful career advice to young women entering the insurance industry.