Compliance

Health insurer Harvard Pilgrim Health Care Inc. will develop a pilot of the Food and Drug Administration's Sentinel System to better monitor the safety of regulated medical products. The one-year contract with four renewable years is worth a total of $72 million.

The ongoing impact of the financial crisis, coupled with the specter of greater governmental oversight, will color the outlook for the life insurance industry in the year ahead, according to New York-based Ernst & Young’s Global Insurance Center 2010 U.S. Outlook.

Even to those tasked with understanding it, the insurance industry can seem opaque. After in-depth interviews with 43 financial analysts who cover the insurance sector, New York-based PricewaterhouseCoopers finds a widespread dissatisfaction with the current insurance financial reporting framework.

Harvard Pilgrim Health Care, Aetna and WellPoint are the first of a handful of insurers expected to certify for compliance with the initiative in Q1 2010.

Association commends retiring chairman’s leadership on insurance-related issues.

The Property Casualty Insurers Association of America seeks no-fault reform in New York, market-based solutions in coastal states and the preservation of credit scoring, among others, in the coming year.

The top 10 risks facing business today may be largely elusive to corporate leaders, according to Joe Plumeri, Willis Group Holdings Limited. At a Town Hall meeting in Los Angeles this week, the global insurance broker’s chairman and CEO called on businesses to step up and acknowledge and respond to the risks facing business.

Many of us are trying hard to see positive trends for the coming year, but employment remains the only meaningful bellwether of change.

AIA foresees crucial 2010 for the insurance industry on Capitol Hill.

Democrats fend off filibuster attempt to move bill to floor.

Legislation seeks to divide deposit and investment banks and prohibits commercial banks from engaging in all insurance activities.

Tanya Krochta promoted to new position.

A panel of insurance technology experts share tips and tricks for putting innovation into play.

The bill could significantly impact the way insurers do business, given it paves the way for the creation of a consumer financial protection agency, and establishes a framework to minimize systemic risk.

A new Celent report concludes that the greatest challenge facing insurers is their siloed environments. Improving info sharing would help eliminate this problem.

The reform bill is expected to water down a provision to create a new consumer protection agency, among other plans.

Industry technology executives admit that adopting the changes required to innovate is no longer an option: CIO Insurance Summit report.

New rule changes how insurers calculate admissible deferred tax assets.

The effects of regulatory reform, increased government intervention and potential tax law changes will keep stability at bay, at least for a few more years, says a PricewaterhouseCoopers report.

While the law may eventually get watered down, the transparency and accountability of information will live on as perhaps insurers' most important corporate value.