Core systems

Fitch says total estimated losses could continue to rise, as several insurers have yet to release loss estimates.

P&C business in the United States ends the year with a 5-percent increase; commercial auto, commercial property and general liability see the highest increase in December.

Board also decides whether or not to let the lawsuit be carried on by Starr.

Shelter Insurance claims to be the latest casualty to regulations found in the Dodd-Frank Act.

End-to-end policy administration system will be implemented by Auto-Owners’ life insurance subsidiary.

A.M. Best maintains its stable outlooks on the P&C, life and reinsurance sectors despite significant and persistent challenges, including loss reserves, low interest rates, weather-related volatility and increasing competition.

The number of deals may have risen in 2012, the total value dropped by more than $10 billion.

A slow overall growth trend at the end of 2012 is cause for concern heading into 2013; however, health care and financial services may hold the best opportunities for IT job growth.

Industry organizations have responded enthusiastically to news that Congress has agreed to a $9.2 billion authorized increase to the National Flood Insurance Program (NFIP), which is necessary to pay claims resulting from Superstorm Sandy. The bill had already passed the Senate and President Barack Obama is expected to sign it.

Severe weather-related catastrophes in United States accounted for a larger-than-normal portion of global catastrophe losses in 2012, increasing to 67 percent from an average of 32 percent, and 90 percent of global insured losses, compared to an average of 57 percent, according to Munich Re.

The 354-67 vote allows the government flood insurance program to continue paying damage claims to about 120,000 policyholders. The measure, raising the program’s borrowing authority by $9.7 billion, needed a two-thirds supermajority to pass under fast-track procedures. The Senate probably will clear the measure later today.

RSA, the security division of EMC, released a report from the Security for Business Innovation Council that assesses how cloud computing, big data analytics, enterprise mobility and social media will transform enterprise IT and “hammer away” at the foundations of information security strategies this year.

Sun Life Financial Inc. rallied 40 percent last year as investors rewarded decisions to shed riskier assets and emphasize insurance and wealth management. Chief Executive Officer Dean Connor says the narrower focus can still boost earnings in 2013.

The reinsurance sector entered 2013 with ample dedicated capital and stable pricing, according to “The Route to Profitable Growth,” the 2013 global renewal report from Guy Carpenter & Co. Renewals were supported by lower than normal catastrophe losses during the first nine months of 2012, increased reinsurance capacity and record-high levels of capital.

Small IT hiring sprees set for the first half of 2013 are being bridled with a pocket of idle businesses, and tech positions overall are taking longer to fill, according to a survey by technology and engineering career community, Dice.

Patented technologies to provide data protection, intuitive data presentation capabilities.

At January 1 renewals, marine endures its worst year in recent history, reports Willis Re.

IT and business executives need to apply a risk-management approach that balances economic value against risks.

Robert Benmosche, president and CEO, AIG, will be honored at the June 17 gala dinner in conjunction with the International Insurance Society's 49th Annual Seminar.

Net income for P&C insurers in the United States more than doubled during the first three quarters of 2012, increasing to $31.2 billion from $12.3 billion for the same period last year, as a result of improved underwriting results, according to “U.S. P/C Net Income Improves in 3rd Qtr; Sandy’s Impact Yet to be Realized,” a special report from an A.M. Best Co.