Core systems

Washington – The House passed a seven-year extension to the Terrorism Risk Insurance Act (TRIA) by a margin of 360-53. The passage of bill, which mirrors a version passed by the Senate, paves for the way for a signature by President Bush, who had threatened to veto a more ambitious TRIA extension passed by the House in September.

There is overwhelming evidence that spending on servers is slowing down significantly across a number of market sectors, in some cases by up to a factor of five, according to research conducted by TechNavio from Infiniti Research.

Cary, N. C. - Nationwide Mutual Insurance Co. is bolstering its enterprise risk management (ERM) program with the implementation of business intelligence from SAS, the companies report.

On the heels of its merger with LIMRA, LOMA is offering conferences at the beginning of the new year designed to help insurers capitalize on the technologies that will enable them to do more business, and do it better.

Windsor, Conn., and Atlanta - Member companies of LIMRA International and LOMA voted overwhelmingly in favor of the proposal to unite two of the world's largest insurance and financial services trade organizations. The merger will go into effect on Jan. 1, 2008.

Washington – A bill that would provide $100 million in grants to help local officials enforce building codes has been introduced into the House. Rep. Dennis Moore, D-Kan., sponsored the legislation, which is dubbed The Community Building Code Administration Grant Act of 2007.

Atlanta - Connecture Inc., provider of Web-based sales, service and process automation solutions to the health insurance industry, has been awarded the Robinson College of Business (RCB) Eagle Award. The business school selected Connecture as a high achiever among fastest growing private companies in the Southeast.

Approaches to policy administration systems may differ from region to region, but the factors driving replacement are similar.

Customer service, risk management and demographics will mark 2008.

New York — Execution is taking precedence over profit and top-line growth as a focus for CEOs around the world, according to a survey of 769 global CEOs from 40 countries from The Conference Board report, CEO Challenge 2007: Top 10 Challenges. The annual report, conducted during the first quarter of 2007, details specific challenges that CEOs face across regions, as well as by the company’s size, industry, and level of success—all factors affecting the concerns of CEOs.

Regulators advise the public to become aware of ID theft vulnerabilities, while carriers are using technology and third-party help to thwart the bad guys and bolster customer services levels.

Trenton, N.J.– A bill that will eliminate the requirements for auto insurance agents to provide quotes for all their companies and to provide three insurance scenarios to applicants has passed the New Jersey Legislature.

As mortgage lenders struggle to contend with the double-barreled threat of rising defaults and lower origination volume, a third, less discussed source of risk is now starting to emerge.

Arson Registry Act Passes House

New York — In the actuarial world, process inefficiencies, increased business complexity, regulatory demands and data volume are leaving little time for crucial analysis, driving a growing trend toward automation, according to a roundtable hosted by The Insurance and Actuarial Advisory Services (IAAS) practice of Ernst & Young LLP, (E&Y) New York.

USAA and State Farm provide the best customer experiences, according to consumers surveyed by Forrester Research Inc.

Two teams of conferees headed by Senate Banking Committee Chairman Christopher Dodd (D.-Conn.) and House Financial Services Committee Barney Frank (D.-Mass.) are meeting this week in an attempt to reconcile their differing visions on the extension of the Terrorism Risk Insurance Act.

Washington – Owing in part to an association with senior insurance company executives who desire improvements in the agency distribution system for insurance products, the National Association of Professional Insurance Agents (PIA National) released an online planning tool for its members.

Despite celebrating its one-year anniversary last week, the popular press is reporting the insurance industry at large still seems to be taking a “wait and see” position on large-scale implementation of Microsoft’s Vista.

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