Claims

Countrywide Financial Corp., now owned by Bank of America Corp., will have to reimburse as many as 17 million victims of the breach free and offer credit monitoring as a result of a settlement that was approved by a U.S. District Court Judge Thomas B. Russell in Kentucky. The Associated Press reports that the settlement calls for Countrywide give the victims, including anyone who obtained a mortgage and anyone who used Countrywide to service a mortgage before July 1, 2008, free credit monitoring and up to $50,000 in reimbursements per instance of identity theft, provided they actually lost something of value, were not reimbursed and can prove the loss more likely than not stemmed from the Countrywide breach.

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.

Michael Mitrovic will be responsible for overseeing a fully integrated claims management infrastructure to effectively serve clients throughout Ironshore’s multi-specialty, global platform.

Despite research indicating that 41% of online insurance consumers are interested in PAYD policies, why hasn't this seemingly innovative and intuitive program been adopted by more states, or backed by regulatory groups?

The few insurers that have released mobile apps have but, eventually, every insurer that has invested in a Web-based channel will be taking full advantage of every mobile device.

A panel of insurance technology experts share tips and tricks for putting innovation into play.

Moody's says insurers denied 20% to 25% of claims in the second and third quarters, up from a previously historic rate of 7%.

Industry technology executives admit that adopting the changes required to innovate is no longer an option: CIO Insurance Summit report.

After its Macon, Ga., office doubled in size in the last 10 years, the insurer has decided to hire 150 employees.

Boston-based research and advisory firm, launches a new service dedicated to the Indian financial services space.

Insurance Networking News would like to congratulate the following select number of nominees, whose innovation deserves special recognition. Watch for their stories in upcoming issues of Insurance Networking News and online at www.insurancenetworking.com.

There is no shortage of opinion on the value - or lack thereof - of legacy systems. One thing on which all P&C insurers can agree: legacy systems need to step up to the unique requirements of a growing industry.

INN is proud to present the 2009 INNovator Awards, recognizing key advances in the use of technology and practices in the insurance industry.

Swiss Re says the calm hurricane season for 2009 contributes to the $26-billion decline from 2008.

The global specialty insurer appointed Paul Lafferty as VP, property claims manager for the United States.

Unique-to-Louisiana law requires insurers to continue homeowners’ coverage even if defective drywall constitutes a “material change in the risk,” as long as the homeowner reports the issue to the insurer.

Carriers are sending more than 41,000 claims download transactions per month using IVANS communications platform.

Solution designed to empower carriers with an instant PPO repricing and enhanced savings audit solution to improve the workers' compensation medical claims process.

A lack of funding for IT and eBusiness initiatives, channel conflicts and confusion about the role of social networking also plague overseas insurers.

Experts believe insurers eventually will buy into the cloud hype, but in the form of "private clouds" contained within enterprises and close partners and agents.