Core systems

Hackers are increasingly targeting organizations that house medical data -- and the consequence of a breach are steep. Here’s what CIOs need to know about the biggest insurance data breach and what they should be doing to protect sensitive files.

Individuals affected by the Anthem health information breach should be wary of emails or calls they receive.

Early in its investigation of a major cyber attack, health insurer Anthem shared much of what it knew with other health industry stakeholders, all of whom participate in the HITRUST Cyber Threat Intelligence and Incident Coordination Center.

When the country’s second-largest health insurance company is hacked leaving the personal information of 80 million people vulnerable to identity theft, it’s a watershed moment that cannot be ignored. There is no doubt that this data breach is a wake-up call for a healthcare industry that is lacking when it comes to information security.

The most common vector of cyberattack is still poor habits by associates, says Joseph Smith, former CIO of Arkansas Blue Cross and Blue Shield.

The home and auto insurer sued Morgan Stanley and other lenders in 2011, alleging they sold packages of risky home loans while claiming they conformed with “conservative” underwriting standards.

A Manhattan federal judge on Monday denied Coventry’s request that he throw out the bulk of Lavastone’s claims, including those alleging racketeering, fraud and breach of implied good faith, in an abbreviated decision.

Two of the state’s most-powerful lobbies, the insurance industry and trial lawyers, are gearing up for a fight over a push to ease penalties against companies that deny homeowners their hail-damage claims.

The information compromised includes names, birthdates, Social Security numbers, street and e-mail addresses and employee data, including income, Anthem said.

Last year was the second in a row in which investors on the whole preferred collateralized reinsurance to catastrophe bonds, the vehicle first used by hedge funds and pension funds for forays into the market.

Social, mobile, analytics, big data, cloud and digital strategy soon will be basic capabilities, and insurers that get bogged down in ROI studies could miss opportunities.

With the National Association of Insurance Commissioners looking closely at industry- data security practices through a task force, it’s likely that new standards soon will emerge.

IDC Financial Insights says spending on core systems modernization, transformation and optimization is driving the increase.

Rometty will get an incentive payout of $3.6 million, according to a company filing released Friday

Connected cars, the shared economy and other emerging trends will redefine insurance products and create new opportunities for those willing to embrace change, according to research from Strategy Meets Action.

The regulatory group has established a task force to evaluate the insurance industry’s skill at protecting sensitive customer data.

The insurer is working on a suite of new claims payment options that it says will drastically reduce the time it takes to make policyholders whole.

Inadequate systems outranked talent and capital resources in a Towers Watson poll of insurer pain points.

Compared with the office’s estimate in April 2014, which spanned the 2015-2024 period, the new numbers are $101 billion, or about 7 percent, lower.

The Atlas Cloud P&C System is intended to modernize personal and commercial lines operations for regional carrier.