Data security

Bad driving habits and trends are diminishing among teens, according to a new report on teen driver safety released by The Children’s Hospital of Philadelphia (CHOP) and State Farm. From 2008 to 2011 the number of teen passengers killed in crashes not wearing seat belts decreased 23 percent, the number of teen passengers driven by a peer who had been drinking declined 14 percent, and 30 percent fewer teen passengers were killed in crashes involving a teen driver.

Commercial rates increased 5 percent, while personal lines prices were up 4 percent last month, according to MarketScout’s monthly Market Barometer.

With questionable claims numbers and fraud costs expected to grow through 2016, Aite Group outlines emerging techniques and technologies to stem the tide.

New version designed to complement governance, risk appetite measurement and assessment services.

Coverage designed for U.S.-based multinational companies with complex exposures.

As the life insurance and annuity industries move toward model-based approaches to reserve and capital valuation, actuarial models are increasing in complexity and sophistication while the imperative to avoid modeling errors also increases, according to a recent report from Deloitte, titled “Actuarial Modeling Controls: A Survey of Actuarial Modeling Controls in the Context of a Model-Based Valuation Framework.”

Cyber coverage levels also increased according to the report. Across industries, limits purchased in 2012 averaged $16.8 million, a 20-percent increase over 2011. Communication, media and technology companies led other industries in terms of average limits purchased, at $33.4 million, and the rate of increase, which was nearly 36 percent.

Armed with analytics, insurers should be able to make better business decisions more quickly and mobilize teams to connect better with customers, leading to success and growth, according to PwC.

Peak Reinsurance Co., a reinsurer focusing primarily on the Asia-Pacific market, has selected a catastrophe modeling solution from AIR Worldwide to manage its catastrophe risk.

Partnership intended to simplify the BPM and CRM provider’s encryption approach.

However, report says P&C carriers better equipped than others; PCI discounts findings.

Commissioned by The Hartford Steam Boiler Inspection and Insurance Co., Ponemon Institute’s survey results show many small businesses have had a data breach, almost all involving electronic records.

The goal of the partnership is to provide a file exchange between GEMS Economic Scenario Generator, MG-ALFA actuarial software.

Activist regulators, increased CAT losses pose larger risks, companies must adapt, A.M. Best says.

ARC Logics upgrade includes the NAIC-proposed requirements, which are set to take effect on Jan. 1, 2015.

A review of losses tied to weather-related catastrophes reveals that climate-change models are but one of a growing number of complexities affecting all stakeholders.

The use of enterprise risk management applications continues to evolve, according to “2012 U.S. Enterprise Risk Management (ERM) Survey,” from Gen Re. The survey focused on setting biometric risk assumptions, which had largely been ignored by previous ERM research.

North American insurers ranked product pricing (51 percent versus 39 percent in 2010), risk strategy (48 percent versus 38 percent in 2010) and reinsurance strategy (44 percent versus 34 percent in 2010) as the areas of their business most impacted by their evolving enterprise risk management (ERM) programs, according to a new Towers Watson survey.

A new report highlights a wave of mobile-focused techniques spreading among hackers.

Legal Solutions Suite purchased in an attempt to simplify billing and expense tracking, monitor outside counsel performance.