Compliance

American Fidelity Assurance Co. has chosen Wolters Kluwer Financial Services’ NILS INsource and NILS INcompass offerings to help monitor and implement regulatory changes.

Last decade, car crashes were the leading cause of teen deaths, with 16-year-old drivers possessing crash rates two times greater than 18-to-19-year-old drivers and four times that of older drivers. But Allstate and the National Safety Council think they know how to cut into the 81,000 fatalities resulting from crashes involving teen drivers between 2000 and 2009, claiming in a new report that nationwide GDL laws have the potential to prevent over 2,000 such deaths and save $13.6 billion annually.

When the landmark Dodd-Frank Wall Street Reform and Consumer Protection Act passed in 2010, it was widely assumed that the following year would entail some regulatory uncertainty as the rule-making and implementation processes unfolded. For the insurance industry, the regulatory landscape in 2012 looks to be a sequel nobody wanted to see. "It's rather unfortunate that more than a year has passed since the passage of Dodd-Frank, and things are still very uncertain," says Howard Mills, director & chief advisor, Insurance Industry Group, Deloitte LLP.

Daily, there's news affecting health insurers. What's becoming clear is that transparency is a demand from consumers and regulators that health insurers are going to have to keep up with.

The Department of Health and Human Services has rolled out an enhanced version of a public Web site, mandated under the Accountable Care Act, to aid small businesses and consumers in comparing and purchasing health care coverage.

The U.S. Department of Health and Human Services (HHS) has issued its first rebuke to an insurer under the federal rate review provision of the Affordable Care Act.

In the wake of the savings and loan crisis of the 1980s, insurers and bankers feuded over directors and officers' liability policies. At issue: whether D&O policies covered claims brought by the Federal Deposit Insurance Corporation against a failed bank's officers. Years of messy litigation failed to settle the question conclusively, and insurers responded by tightening their policies with ironclad exclusions of future FDIC claims.

Late yesterday both houses of Congress passed a continuing Resolution which provides for a 30-day extension of the National Flood Insurance Program. The program is now set to expire on Dec. 16, 2011.

A group of 13 U.S. Senators are questioning a provision of the Flood Insurance Reform and Modernization Act of 2011 that would require homeowners and businesses to purchase coverage from the National Flood Insurance Program (NFIP).

In its second setback in less than a week, BP Plc learned this morning that it is not entitled to insurance claims reimbursement from Transocean’s insurance carriers as a result of the 2010 Gulf of Mexico oil spill.

With a decision expected by the end of June, 2012, the case is seen as pivotal to Obama’s presidential aspirations, as well as insurers.

After America’s Health Insurance Plans issued a statement requesting the implementation date of the Affordable Care Act’s Summary of Benefits and Coverage be pushed back, health care consumers, practitioners and consumer advocates urge action.

Report says worldwide IT spending pertaining to risk functions will increase to more than $74 billion by 2015.

New report foresees the financial services industry’s risk technology spending hitting $23 billion by 2013.

In letter to Sec. Sebelius, governors say tight timetable, funding issues may impact some states’ abilities to comply.

AIA expresses concern that proposed solvency test may be unduly burdensome.

Federal Insurance Office announces the appointment of 15 to serve on Federal Advisory Committee on Insurance.

The FIO Director's testimony hints at the sustained power of state insurance regulators and the influence of the FIO report due in January.

Aon eSolutions Launches RIScloud

New York Health Insurers Capitulate on Call for Transparency