Core systems

Roughly two-thirds of life and annuity producers surveyed by Deloitte (http://www.deloitte.com) expect to change carriers within the next 12 months. Twenty-nine percent plan to add carriers and one-third expect to both add and drop carriers. Sales support, speed of underwriting and policy issue, and carrier brand are the top factors influencing these decisions. Forty percent are not satisfied with the support they currently receive. And, with more than 80 percent of a producer’s total compensation coming from two favored carriers, there is room for improved producer loyalty and sales through better support, said Rebecca Amoroso, vice chairman, Deloitte LLP and insurance leader.

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).

A number of insurers have released financial results for Q3 2011. The following is a compilation of their announcements:

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.

Prolonged low-rate environment presents both short- and long-term challenges for life insurers, a new report says.

Balancing innovation and cost leadership, agility and action-oriented methodologies among topics to be covered.

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.

New data from Keefe, Bruyette & Woods shows catastrophe losses impacting insurers’ bottom lines.

The Independent Insurance Agents and Brokers of America (IIABA) recently honored Caliper Corporation's Founder and CEO Dr. Herb Greenberg, for his role over a five-decade period in improving the performance of its state associations and member agencies. In particular, Greenberg was noted for his development of the Caliper Profile, a proprietary personality assessment.

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.

According to a new study from Strategy Meets Action, social media has become a nearly universal practice among insurers (nine percent reported not having a social media strategy or initiative planned), however, very few are beyond the basics of posting and monitoring.

The investment income woes of property/casualty insurers did not begin with the 2008 financial crisis, new analysis from Fitch Ratings reveals.

Small-business owners trust independent insurance agents and commercial insurance carriers more than other financial services businesses, according to carrier-sponsored survey.

MIT Sloan and IBM survey points to organizational differences as main factor in competitive advantage with data.

There can be, if insurers become fully aware of the ways to secure data.

Despite slow growth when compared to second-quarter figures, increases in year-to-year annuity sales remain strong.

Vendor's Underwriting Management System, beginning with North America, will seek to unify XL’s global underwriting platform.

Independence Blue Cross is in the process of testing a wireless-enabled fitness device and apps that can be used to support wellness, the Philadelphia-based insurer reports.

AIG, The Hartford, Munich Re, Prudential, Sun Life and nine others release third-quarter figures.

Insurance units of bank holding companies generated a record $7.9 billion in fees during the first half of this year, up 14 percent from the same period in 2010.