Compliance

Digital signatures brought to the cloud in support of E.U. eSignature laws.

Potential voluntary federal guidelines foretell a future that may require keeping a close eye on the balance between collaboration and control.

Based on a review of 35 major health plan websites, most issuers are still struggling to provide the Summary of Benefits and Coverage (SBC), even while the SBC provision of the Patient Protection and Affordable Care Act (PPACA) law took effect last week, according to Tyrula LLC. The law requires insurers to provide a paper SBC document within seven days of application, renewal, or the first day of coverage.

Claims processing remained the top compliance issue for P&C insurers, followed by rating factors and the cancelation of policies. In terms of life and health insurers, problems with claims processing stole the top spot away from compliant policy forms, which was reported last year as the biggest compliance issue. Failure to pay claims properly in accordance with policy provisions was only fifth on that list for life and health insurers.

With 2015 deadlines approaching, the NAIC recently conducted a pilot program with 13 insurers and shared some guidelines and best practices.

Many major insurers use non-driving factors, such as education, occupation and lack of previous insurance in setting prices, and a majority of Americans think that’s unfair, according to results of a Consumer Federation of America (CFA) survey.

New report laments the inability of companies to encrypt, control and secure information stored on employee-owned devices.

Martz will be responsible for planning, reporting and internal control functions and general corporate finance activities.

hCentive Inc., a post-Patient Protection and Affordable Care Act health care exchange technology company, has upgraded its platform for integrating private health plans with PPACA-mandated state health insurance exchanges: WebInsure Exchange Manager. The enhancements will assure health insurers of the performance, reliability and market needs of their plans within state exchanges, the company says.

SS&C Technologies Holdings Inc., a software and services provider, has launched CAMRA I-Risk for insurance companies to address emerging solvency standards by combining CAMRA’s financial reporting capabilities with a position-based stochastic simulation model.

Results of a Towers Watson survey of risk calibrations being used for specific market and non-market risks, revealed that the largest challenges still include interest rates, credit spreads and mortality and lapse assumptions, with up to two-thirds of firms still looking to make considerable progress in these areas.

John Hancock, Pacific Life, Allstate and four others selected by CSC and its North American client community.

Delays in updating risk management only serve to damage credibility and open the door to unnecessary dangers.

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.

International regulatory measures, including Solvency equivalency, highlight the AIA’s talking points heading into the weekend.

Spreadsheet Workbench purchased by insurer in an effort to meet Solvency II requirements.

Insurance is among the industries found to have significant scanning requirements due to a continued reliance on paper, according to a recent survey.

Announcement of another state review comes days before NAIC's hearing on force-placed insurance slated for Thursday.

Insurers’ recent SEC filings indicate the Consumer Financial Protection Bureau is continuing its investigation into whether mortgage insurers are complying with federal real-estate law.

At an upcoming FACI meeting, international regulatory rules, including ComFrame, are expected to be the main topic of discussion.