Data security

Through conducting a survey at 2011 Professional Liability Underwriting Society’s Annual International Conference in San Diego earlier this month, global specialty insurer Torus set out to identify key issues affecting the management and professional liability insurance market. The results reveal a professional lines market in flux with widespread concerns over pricing uncertainty in 2012, a heightened awareness of the current regulatory environment and fast-emerging new risks for small businesses. Thirty percent of the 102 insurance professionals surveyed, among them brokers, agents, insurers and risk managers, affirmed that the changing pricing environment is a major cause for unease, viewing it to have the biggest overall impact on the market over the next 12 months. Respondents also note that an increase in market competition (25 percent), the current regulatory environment (23 percent) and the creation of new products (17 percent) were also major concerns.

With catastrophe damage creating insured losses across the country, property and casualty insurance carrier results suffered in the first half of 2011.

A group of 13 U.S. Senators are questioning a provision of the Flood Insurance Reform and Modernization Act of 2011 that would require homeowners and businesses to purchase coverage from the National Flood Insurance Program (NFIP).

Growth of spending on risk management tools projected to outpace the growth of overall IT spending, making it the hottest corner of the IT market.

New data from Keefe, Bruyette & Woods shows catastrophe losses impacting insurers’ bottom lines.

Vendor hopes Xiance Desktop will enable insurers to better predict a property's vulnerability to natural disasters.

The investment income woes of property/casualty insurers did not begin with the 2008 financial crisis, new analysis from Fitch Ratings reveals.

Report says worldwide IT spending pertaining to risk functions will increase to more than $74 billion by 2015.

If Novarica’s Chad Hersh had a crystal ball, he would have told insurance technology attendees at a technology user conference in Austin this morning that the future is already here.

A new survey says drivers want more connectivity behind the wheel and that they think automated driving is not far off, but is that what we really want?

New report foresees the financial services industry’s risk technology spending hitting $23 billion by 2013.

Formerly known as WeatherBill, Climate Corp. releases next-generation weather monitoring and location-specific yield assessment.

Insurers are finding that multiple views may be best when modeling for natural disasters.

As the European Union codifies more stringent capital requirements, Fitch expects the United States to be granted regulatory equivalence.

As cell phone use persists behind the wheel, countervailing technologies can help carriers confront the issue of distracted driving.

The insurer expects increased ROI as a result of enhancing its system with new rules management technology.

MMIC Group, Inc., a Midwestern medical liability insurance company, introduced Cyber Solutions today, which is designed to provide comprehensive coverage for data breaches, invasions of privacy and other risks to the information technology systems of physicians and hospitals.

New relationship promises integrated risk management solutions for professional liability policyholders.

Updated model reflects less frequent, lower severity attacks, based on reassessment of threat by team of terrorism experts.

Chubb Offers Cyber Liability Incentives