Core systems

Farmers Insurance Group of Cos. announced the appointment of Todd Brooks to VP of eastern growth markets.

In the truest “gift that keeps on giving” sense of the phrase, health insurers are taking advantage of the gift-giving season to help members achieve healthy outcomes. Promoted as stocking stuffers at various drug stores, health insurance gift cards can be used to pay bills and insurance premiums or for specific services at eye doctors and dentist offices.

After days of procural votes, the Patient Protection and Affordable Care Act finally passed in the Senate early Thursday morning by a margin of 60-39. The sweeping reform legislation now moves to a conference committee where Senate and House negotiators will forge a single bill that each chamber must once more vote on before sending it on to the President for final passage.

A.M. Best , Fitch Ratings, Moody’s and Standard & Poor’s (S&P) released ratings updates. The following are some of the most recent:

Private U.S. property and casualty insurers’ net income after taxes rose to $16.2 billion through nine-months 2009, partially recovering from the 91.2 decline to $4.4 billion through nine-months 2008 from $49.6 billion through nine-months 2007. Insurers’ overall profitability as measured by their annualized rate of return on average policyholders’ surplus (or statutory net worth) increased to 4.5 in the first nine months of 2009, having previously fallen to 1.2 in the first nine months of 2008 from 13.1 in the first nine months of 2007.

National Conference of Insurance Legislators (NCOIL) is expressing grave concerns with a proposal by the National Association of Insurance Commissioners (NAIC) to form a commission intended to work alongside a future federal insurance regulator.

With the program set to expire at year’s end, President Obama has signed the latest in a series of temporary extensions to the National Flood Insurance Program (NFIP) into law.

It’s a given that the strains of the financial crisis have been felt by insurers involved in almost all lines of business. Like many industries, this strain has played out downstream, with policyholders mindful and concerned about the ebb and flow of mergers and acquisitions, insurance carriers and agents that go out of business, and more.

Across categories, 66% of claimants who give their carriers high satisfaction scores will renew their policies, but only 49% who give carriers low satisfaction scores plan to renew.

Reports today say CEO Benmosche has quashed the Chartis IPO; says P&C unit is a core holding.

Chubb will work with the collaboration and innovation management tool company for two more years.

While regulators may have agreed to delay plans to treat equity-indexed annuities like securities, many bank-affiliated brokerages already have beaten them to the punch.

AIA foresees crucial 2010 for the insurance industry on Capitol Hill.

Democrats fend off filibuster attempt to move bill to floor.

Agency says detection and warning capabilities have grown since 2004.

Claims and rates are falling as financial crisis recedes, a new report finds.

Judge finds in favor of beleaguered insurer in case filed over annuity sales.

Legislation seeks to divide deposit and investment banks and prohibits commercial banks from engaging in all insurance activities.

Resolution extending unemployment insurance program contained in defense bill.

Report finds that medical malpractice costs decreased slightly in 2008.