Subject Root Tag

Testifying before Congress, association chief urges use of a scalable system to measure risk companies pose.

Aswin Krishnan, Tiffany Reiner and John Vrijmoet will report to SVP Eric Neely.

House Financial Services Committee Chairman Barney Frank says consumer groups need time to respond to industry arguments against the new agency and efforts to limit its authority.

Consolidating its insurance, wealth and investment units resulted in referrals rising 100% last year, and are up 55% in the first half of 2009.

Insurance executives see the adverse financial climate reflected in their pay packages.

Short-term hard returns may be elusive, but the long view reveals soft returns aplenty.

After issuing a formal white paper on the subject last week, Travelers Companies Inc. also issued a request—to let an independent federal commission regulate rates for hurricane wind coverage.

In the heat of the summer across the wide open fields of middle-America, the National Association of Mutual Insurance Companies’ (NAMIC) Agricultural Risk Inspection School opened its classrooms this week to insurance loss control specialists, underwriters, managers and supervisors.

Morgan Stanley got the nod as the official IPO coordinator for American International Group Inc. (AIG), according to the Federal Reserve Bank of New York. AIG has been busy trying to push through an IPO of American International Assurance Co. Ltd. by early next year, and had selected Morgan Stanley and Deutsche Bank AG as global coordinators for that offering. As reported in Insurance Networking News, AIG also said last week that it was splitting off American Life Insurance Co., or Alico, in anticipation of a public sale of shares in New York.

Hannover Re, Munich Re and Manulife are just some of the insurers that recently saw ratings actions from A.M. Best.

New York Insurance Department statistics show arrests are down and convictions are up.

In an effort to instill confidence in insured retirement strategies by advocating for the consumer, NAVA has rebranded, immediately becoming the Insured Retirement Institute (IRI) http://www.IRIonline.org, now based in Washington, D.C. Along with the name change is a new staff focused on ensuring the insured retirement strategies industry thrives in the future, while protecting the consumers who invest in guaranteed income products such as annuities and promoting the highest ethical standards.

The American Council of Life Insurers (ACLI) is voicing concerns about long-term care legislation currently under consideration by the Senate Health, Education, Labor and Pensions (HELP) Committee.

U.K.-based edge IPK and Phoenix-based Discoverture Solutions, have partnered to combine and leverage the companies’ respective core competencies to offer property/casualty insurers a built-to-fit presentation layer. The companies say Discoverture’s expertise in insurance systems design and delivery combined with edge IPK’s edgeConnect open presentation platform (OPP) offers insurers a fresh approach and a cost-effective, quick-to-implement way to extend the life of legacy applications.

New Orleans-based Pan-American Life Insurance Group has completed the acquisition of USNow, a Plano, Texas-based provider of administration and management of limited medical plans. Since 2006, USNow has been representing Pan-American Life's worksite product line in the United States, and Pan-American Life previously held a 20% ownership stake in the company. USNow had achieved recognition in the insurance industry as the company that pioneered the concept of managed limited medical benefits, providing underinsured/uninsured individuals and corporate employees with access to affordable group health care.

Online insurance aggregator Esurance is targeting a new demographic with a new marketing ploy: Bollywood fans invited to create Bollywood videos with the insurer’s iconic character Erin Esurance. Bollywood, a Hindi-language film industry based in Mumbai, India, has become popular to date due to its inclusion in the Oscar-winning film “Slum Dog Millionaire.”

Ohio Casualty, a Liberty Mutual Agency Markets regional company based in Fairfield, Ohio, reports that its commercial fleets Onboard Advisor is a first-of-its-kind fleet management solution helps companies increase fleet safety and productivity and save on commercial auto insurance premiums.

The American Insurance Association (AIA) is looking to counter attempts to pass “bad faith” legislation in several states. The AIA contends the bills are an attempt by the plaintiffs’ bar to inject itself and tort principles into the policyholder-insurer relationship and will lead to frivolous lawsuits against insurers.

More than 1,000 members of the Health Insurance Agent & Broker Alliance besieged Senate and House offices on Capitol Hill yesterday.

It’s probably no surprise that 80% of crashes and 65% of near-crashes involve driver distraction. But identifying those distractions—and confirming whether a particular distraction is the cause of an accident—may be harder to prove.