Core systems

Fitch Ratings reveals that the losses could be almost double what insurers previously expected.

RIMS survey says rate of premium loss decreased during the last quarter.

Against economic woes, insurance companies are facing some tough decisions when it comes to IT staffing and maintenance. In particular, flat premiums and reduced investment income are driving the industry into a competitive state not seen in 20 years, forcing IT organizations to deliver faster, deliver more and reduce or maintain costs, notes a new report issued by New York based research and advisory firm Novarica.

It’s no secret that agents and brokers continuously rank “ease of doing business” as one of their top priorities when choosing a carrier partner. The subject of a recent survey, 7,800 independent agents and brokers were asked to rank more than 200 property/casualty carriers, and name their top performers.

Preliminary research results from NCCI indicates a 4% drop in claim frequency for 2009.

For the first time ever, theft of information and data has now overtaken physical fraud in businesses, Kroll report finds.

State-of-the-art lab aims to help P&C insurers model for and mitigate against natural disasters.

Partnership extends reach of Duck Creek Technologies across Australia and to New Zealand

Insurer charged with inconsistencies, yet NAIC review found no underpayment of claims.

Moody’s places Zurich under review for a possible upgrade, affirms Travelers; A.M. Best upgrades Farm Bureau Life Insurance Co.

Report says technical wherewithal more important than ever as industry bounces back from financial crisis.

Expense reduction, growth strategies and improving underwriting results are atop commercial carriers’ list of concerns, says Novarica.

Research says the percentage of workers that utilized the premium subsidy contained in the stimulus package was lower than expected.

ClaimCenter to provide a foundation on which to grow Torus’ business.

To date, insurance pricing and conditions have remained stable, with flat or lower pricing being typical for the majority of insureds in the majority of coverage lines, notes insurance broker Marsh, which issued a report this week on the state of the P&C and reinsurance markets.

Banks that set goals for advisers' life insurance sales sell more, say research firms.

Insurers may glean ideas from successful mobile apps developed by their banker brethren.

Company will cut 1,500 – 1,800 jobs as it digests Hewitt acquisition.

S&P revises its outlook on Swiss Re, A.M Best affirms The Hartford Steam Boiler Group. Moody’s downgrades AXA UK Life and agencies react to Everest Re’s executive leadership announcement.

Japanese typhoons, changing economic conditions in China and earthquakes in Seoul could cause Supercat-sized insured losses, says Aon Benfield.