Core systems

Commercial mortgage loans held by life insurers in Fitch's universe posted actual realized losses of $1.36 billion in 2010, below Fitch's expectations of up to $3 billion in losses.

At International Insurance Society seminar, insurers, regulators and academics consider how best to balance the rules under which the industry operates.

The call for a national standard for when and how banks, insurers and financial services companies must notify customers of a data breach beefs up penalties for cyber crimes by synchronizing them with other laws, such as the Racketeering Influenced and Corrupt Organizations Act.

Despite witnessing firsthand the anxiety and apprehension that many of their Baby Boomer parents are now enduring as they close in on retirement, the overwhelming majority of Gen-Xers are still not adequately preparing themselves for their own eventual retirement.

Designed for insurance carriers and broker/dealers selling annuity products, the service features analysis by product, carrier, distributor, agent and investor.

Health insurers overall received a low grade on the American Medical Association’s (AMA) / most recent “National Health Insurer Report Card” (NHIRC). Commercial health insurers have an average claims-processing error rate of 19.3 percent, an increase of two percent compared last year, according to the findings. The increase in overall inaccuracy represents an extra 3.6 million in erroneous claims payments compared to last year, and added an estimated $1.5 billion in unnecessary administrative costs to the health system, AMA says. The AMA estimates that eliminating health insurer claim payment errors would save $17 billion.

The Patient Protection and Affordable Care Act is creating an immediate jobs crisis in our communities, notes Michigan Congressman.

The number of lightning claims is down, but the average cost per claim rose 13% from 2009; expensive electronics may be culprit.

The insurer reports "mailing error" sent member name, insurance number, diagnoses codes and descriptions, procedure code and description, prescription name and provider names to wrong addresses.

Survey reveals that U.S. insurers have more confidence than their non-insurance counterparts when strengthening competitive position through mergers and acquisitions.

State Farm sends mobile units to meet with evacuees.

USAA, Securian Financial highlight annual ranking.

Insurer expects to streamline policy administration, enhance underwriting accuracy and efficiency, and provide automated, real-time billing.

Planning and IT business alignment central to success, survey results suggest.

Respondents fear new GAAP statutory principle-based framework will increase volatility of financial results.

Aon study reveals 4% increase in the average long-term liability claim size.

While traditional channels are still heavily used for communications, communicating electronically is now critical for insurers.

Premium sales of individual life combination products jumped 62% in 2010, reaching $1.2 billion.

The company says the unique transaction-based financial model provides participating plans with a more direct and cost-effective route to consumers than individual brokers.

Electronic fulfillment solution to manage forms processing electronically.