Core systems

As legislators ponder lifting cap on damages resulting from oil spill, Senate Majority Leader Reid suggests abolishing it altogether.

Onus is on them to address the “elephant in the room,” manage reality-based models, and shape organizational culture in post-crisis world, says Swiss Re.

Religious funds have grown in the past decade due to a larger number, and wider range of investors, analyst says.

Life insurers are adjusting the way they calculate capital requirements a new study from New York-based Towers Watson finds. The report, Evolving Capital Management Practices, queried 30 CFOs and found they expect to make greater use of economic capital when determining capital requirements.

The amendment preserves state attorneys generals' role protecting their citizens against abusive practices.

Blue Cross Blue Shield of Kansas City’s integration of Tuo Underwriting system is part of a marketing strategy to leverage Tuo and Microsoft Dynamics.

Minneapolis-based Wolters Kluwer Financial Services reports that it will incorporate its insurance compliance information and analysis technologies with FINEOS Claims for Workers’ Compensation.

Insurers must work harder to educating advisors on how their products work if they want to boost sales, LIMRA says.

S&P affirms Liberty Mutual Group Inc., A.M. Best downgrades Town and Country Mutual Insurance Co. and Moody’s upgrades Unum Group.

SMA report says agencies may open wallets to improve areas such as product development and premium volume rebounds.

After rebuilding balance sheets following a costly 2008, P&C insurers hope to not face further financial risks.

Insurers face an uphill battle when it comes to claims management, according to James Swayze, president and CEO of Symbility Solutions, Toronto. Swayze, who presented on the topic at the 2010 PLRB Claims Conference last week in San Antonio, presented results of a JD Power & Associates study that revealed 46% decline in client satisfaction scores for property claims between 2004 and 2008, and a rising claims process cycle time that averages 18.6 days to close.

A new Moody's report says favorable economic and capital market trends signal stability.

Ventana research finds 41% of respondents have a strong desire to improve BI and performance management in the areas of operations, finance and customer management.

A coalition of industry associations is working to scuttle an amendment to financial reform legislation that would strip health insurers of anti-trust protections currently enjoyed under the auspices of the McCarran-Ferguson Act.

To alleviate apparent confusion over storm surge and flooding predictions that were in conflict with the reality of events when a hurricane made landfall, the Saffir-Simpson Hurricane Wind Scale was updated by the National Weather Services’ National Hurricane Center, which is part of the National Oceanic and Atmospheric Administration.

Insurer looks to bring investment capabilities of Sun Life’s Boston-based asset management arm to Canadian retail investors.

Alterra Capital Holdings sees favorable ratings following merger, Farmers Union Mutual Insurance Co. and First Chicago Insurance Co. downgraded.

In testimony on Capitol Hill, industry says the use of credit scores vital for underwriting.

A survey conducted by Munich Re America that targeted insurance executives to determine their most pressing concerns revealed what most in the industry know: the economy still presents a challenge, but less so than last year.