Core systems

Global wealth management technology spending by banks, brokerages and insurance companies is set to reach $3.7 billion by the end of 2010, up 5% from 2009, according to a report released January 7 by Boston-based research firm Celent.

As legislators work to craft a final health care reform bill, insurers are seeking to stop inclusion of a provision that would eliminate industry antitrust exemptions created by the McCarran-Ferguson Act.

Sircon, a wholly owned subsidiary of Vertafore Inc., took to the road the past 14 months to facilitate discussions between Sircon and representatives from a number of insurance companies. Stopping in cities such as New York, Atlanta, Los Angeles, Dallas, Chicago and Philadelphia, Sircon’s insurance-industry solutions team provided attendees with insights into upcoming product developments, industry trends and challenges, and provided hands-on training and question-and-answer sessions on pressing topics.

As Senate Majority Leader Harry Reid (D.-Nev.) and Speaker of the House Nancy Pelosi (D.-Calif.) look to blend their versions of health care reform, the National Association of Insurance Commissioners (NAIC) is offering input.

The good news is there are signs of economic improvement. The bad news is A.M. Best is maintaining its negative rating outlook on the life/health industry.

With 2009 reviews and prognostications thankfully behind us, it's time to get our feet back on the ground and get back to listening to our readers.

An Aberdeen Group study of data management for business intelligence finds a wide gap between best in class companies and the industry average, especially in the areas of data cleansing, search query optimization and master data management (MDM).

Trust representing homeowners asks for compensation for damages due to mold exposure.

Gov. Patterson announces his intention to revive a state-based reinsurance network.

Study predicts insurers will look to trim costs from distribution channels in year ahead.

Harvard Pilgrim Health Care, Aetna and WellPoint are the first of a handful of insurers expected to certify for compliance with the initiative in Q1 2010.

Latest online poll reveals a shift in traditional—if not stereotyped—thinking.

Association commends retiring chairman’s leadership on insurance-related issues.

Conning Research says ongoing economic ramifications may have profound impact on property/casualty sector’s operating results.

S&P withdraws its A+ FSR of Nationwide Life Insurance Co. of America and Nationwide Life & Annuity Co. of America, and Moody's assigns ratings to the multi-issuer, multi-seniority shelf registration of The Travelers Cos. Inc.

The reorganization merges subsidiaries, reducing from five to three the insurer's primary life operating units.

The Property Casualty Insurers Association of America seeks no-fault reform in New York, market-based solutions in coastal states and the preservation of credit scoring, among others, in the coming year.

Guy Carpenter says U.S. reinsurance rates across most property lines dropped between 6% and 11%, on average.

The insurer promotes Jeff Hurd to HR chief, and hires Michael Cowan from Merrill Lynch to fill his shoes.

New report designed to assist agents in creating their own social media practices and policies.