Core systems

Horizon Blue Cross Blue Shield of New Jersey (Horizon BCBSNJ) announced its plans to create a new company called Horizon Healthcare Innovations (HHI). The new company is expected to be formally operational in September, but has already begun work as a division of Horizon BCBSNJ, notes the insurer. The new company’s mission is to energize the transformation of health care delivery to a better system marked by higher quality and more effective care, greater collaboration and efficiency, and increased affordability, notes Horizon.

Sales of insurance products jumped 9.6% year-over-year in the first quarter, report says.

Life Insurance Corp. of India is in talks with at least two banks to set up the service.

Insurer sells a controlling stake in its consumer credit division to private equity firm.

Study reveals that employees value voluntary workplace benefits, but don’t truly understand the financial protection provided by life and disability benefits.

AIG, Allstate, Liberty Mutual and The Hartford all issue financial statements.

S&P and Moody’s offer differing takes on insurer’s pursuit of Alico.

The agencies issued a joint proposal detailing potential substitutes for credit ratings in setting capital minimums, but officials warned that Congress' decision to eliminate them from the supervisory process may be a mistake.

The number of IT services deals rose 14% from Q1 to Q2.

The Treasury released a comprehensive report on how it has unloaded warrants in more than four dozen lenders that have repaid the Troubled Asset Relief Program.

Carriers developing mobile applications to educate, entertain consumers.

All four rating agencies react to CNA’s issuance of $500 million in senior unsecured notes; GEICO and Nationwide ratings affirmed, and State Auto National’s ratings placed under review with negative implications.

Company plans to benefit from resulted expanded products, agency network.

Realized capital gains totaled $82 million for 2009, compared with $1.2 billion of realized capital losses in 2008, A.M. Best says.

Despite the GAO's skepticism, AIG's CEO says he expects to fully repay the bailout, and has commenced discussions with the government on the process and terms of a complete exit.

Industry says ongoing federal backstop is necessary to keep market functioning.

The financial crisis laid bare the flaws of the credit rating agencies, raising doubts about the agencies' objectivity in evaluating debt issuers that helped to fund their operations.

The Brownyard Group, a program administrator providing specialized insurance coverage for select industry groups, has formed a new division to serve as a facilitator between their agents/brokers and its underwriting and claims teams.

V3 Insurance Partners will use AgencyPortal to launch its V3 Internet Workers Compensation product.

MarketStance says following the recent recession, insurers have an opportunity to grow if they take a proactive approach through marketing, underwriting and economic forecasting.