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A new report that provides an analysis of residential building codes in the 18 hurricane-prone coastal states along the Gulf of Mexico and the Atlantic Coast was released today by the Insurance Institute for Business & Home Safety (IBHS). The IBHS is an independent, nonprofit, scientific research and communications organization supported by the property insurance industry. Intended to increase the safety and integrity of structures, thereby reducing deaths, injuries and property damage from hurricanes and a wide range of other hazards, building codes are relied upon by property/casualty insurers as one of several pieces of data used to qualify risk.
January 9 -
The U.S. insurance industry saw a 3.3 percent increase over November’s jobs figures, adding 3,300 jobs in December, according to the U.S. Bureau of Labor Statistics.
January 9 -
Insurers are warming to the notion of standardized product approval according to a report from consulting and actuarial firm Milliman Inc.
January 6 -
The U.S. Department of Health and Human Services has issued an interim final rule to require adoption of standards and operating rules for electronic funds transfer and remittance advice HIPAA transactions.
January 6 -
As the New Year unfolds the insurance industry will double down on data, according to a new report from enterprise and application architecture consultancy X by 2.
January 6 -
The use of telematics by personal lines insurers may have reached a tipping point, according to a new report from Celent.
January 5 -
In its report, “Forecast: Master Data Management, Worldwide, 2010-2015," the research and advisory firm predicts a 21 percent increase in MDM revenue from 2011. By 2015, MDM revenue is anticipated to swell another 40 percent to $3.2 billion. Regionally, the U.S. and Europe will lead the MDM market, though the fastest rate of MDM software revenue growth will be in Asia by 2013.
January 5 -
The always-on, always-up digital culture that has been so readily adopted by younger Americans is having an impact on direct mail, according Mintel Comperemedia, a firm that provides competitive intelligence services. The firm reports that direct mail volume to consumers from life, health and property/casualty insurers is down 11 percent in Q3 2011 compared to Q3 2010.
January 5 -
The next major development in IIABNY’s legal effort to overturn a New York regulation mandating producer compensation disclosure will occur Jan. 10, 2012, reports the Independent Insurance Agents and Brokers of New York.
January 5 -
While the Affordable Care Act remains a source of controversy one of its primary tenets, the creation of state-based health insurance exchanges enjoys considerable support, according to a new survey from the AARP.
January 5 -
A survey by the National Committee for Quality Assurance (NCQA) finds health insurer Cigna’s health plans in healthy shape.
January 5 -
Frank Cowan Co. has selected the RC Inspection software solution from Risk Control Technologies Inc., a provider of loss-control software solutions for insurers, to streamline its loss-control operations. Frank Cowan will equip its team of risk-management inspectors with tablets complete with the RC Inspection application for loss-control management.
January 5 -
The largest insurance company in the Czech Republic, Ceska pojistovna, is using IBM technology to help prevent IT issues and support core business functions, such as claims processing and customer management.
January 4 -
Two groups focused on reigning in costs have established a primary care physician practice in North Carolina. Blue Cross and Blue Shield of North Carolina (BCBSNC) and UNC Health Care announced Carolina Advanced Health to eligible BCBSNC customers last month.
January 4 -
A day after the Insurance Information Institute released figures declaring 2011 the costliest year for P&C insurers covering U.S. cat losses, Munich Re and I.I.I. announced global cat figures.
January 4 -
On Thursday, Massachusetts Mutual Life Insurance Co. filed a lawsuit against J.P. Morgan Securities LLC and four other financial firms claiming that $200 million in residential mortgage-backed securities it purchased through the firms were now "junk."
January 4 -
Looking to round out its core system offerings, Cover-All Technologies Inc. has acquired BlueWave Technology for an undisclosed amount of cash.
January 3 -
Spurred by its $16.2 billion acquisition of American Life Insurance Co., MetLife Inc. moved into the top five while American International Group Inc. (AIG) slid from third to fifth in A.M. Best’s rankings of the top 25 global insurers based on nonbanking assets. UnitedHealth Group and WellPoint Inc., at third and eighth, respectively, were the only U.S.-based insurers to rank in the top ten based on net premiums written.
January 3 -
Online Insurance Marketplace, an online community for educated consumers to shop and access quotes for insurance plans from various companies, has taken its social media efforts to a new level, promoting life insurance on its Facebook page by offering a simple poll question.
January 3 -
The United States set a record in 2011 in its declarations of federal disasters, and insurers are still playing catch-up with claims payouts. In fact, when all is said and done, insurers will have paid more than $32 billion in claims to help people rebuild homes and businesses damaged or destroyed by natural disasters in 2011, according to the Insurance Information Institute (I.I.I.).
January 3