Policy adminstration

HARTFORD, Conn.--Life insurers suffered a steep decline in gross investment returns over the last five years, led by falling interest rates, corporate defaults, and rating agency downgrades, according to a new study by Conning Research & Consulting, Inc.

ST. LOUIS--With 120-mile-per-hour winds and devastating force, Hurricane Charley ripped into the Alligator Mobile Home Park in Punta Gorda, Florida earlier in the month. If the destruction wasn't enough, just two weeks later Hurricane Frances hit Florida 's East coast with 100 mile-per-hour winds. RVs were overturned, belongings strewn for hundreds of yards, and in its wake, hundreds of RVers were left homeless and stranded, their lives threatened to come to a screeching halt.

When it comes to e-commerce, insurers have made a lot of progress over the past several years. They've equipped their employees with browser-based policy, claims, and customer service applications. They've developed self-service features for policyholders on their Web sites. And they've rolled out real-time transactions-such as quoting, policy issuance and inquiry-to their agents and brokers.But just as the insurance industry is embracing the Internet and increasingly harnessing its ability to improve productivity and operational efficiency, malicious attacks--which can bring down corporate networks and compromise confidential company and customer information--are growing exponentially.

Protecting clients against disasters may be the bread and butter of many insurance companies. But many carriers have only just begun to take a hard look at their own business continuity strategies, especially when it comes to information technology systems."Insurers are there to protect and indemnify individuals against disasters and unforeseen accidents, but they have not really invested as aggressively-or at least thought about it as much-as banks and financial services have done," observes Bill Pieroni, general manager for IBM Corp.'s global insurance industry practice.

When politicians earlier this year were taking pot shots at offshore outsourcing, some insurance industry experts suggested that the backlash could have a "chilling" effect on potential deals, at least in the near term.However, that notion was laid to rest with the announcement in July that Zurich Financial Services had agreed to a seven-year applications sourcing contract with Computer Sciences Corp.

Most laptop computer users remain bullish on this technology as a portable and user-friendly computing alternative, one that enhances productivity.No doubt, that notion-while true-is also relative. Material damage appraisers for Indianapolis-based Indiana Farm Bureau Insurance Co. once regarded 4.5-lb. standard-sized laptops as the best available tool to support their workflow efforts in handling auto insurance claims.

JUPITER, Fla.--Dramatic improvements in underwriting performance by the nation's property and casualty insurers led to the first underwriting gain in nearly seven years. The industry reported a $5.5 billion net underwriting gain in the first quarter of 2004, compared to the $1.1 billion loss reported during the same period a year ago, according to Weiss Ratings, Inc., the nation's leading independent provider of ratings and analyses of financial services companies, mutual funds, and stocks.

LOUISVILLE, Ky. -- Humana Inc. today announced the filing of applications for five patents in pharmacy and health metrics by its Innovation Center. All five of the patent applications are for Humana's use of innovative information technology applications to engage consumers in health benefits.

With boating season in full swing, Safeco has announced the launch of a new specialized claims unit dedicated to handling boaters' insurance claims.

BOSTON-- John Hancock has launched a new long-term care insurance (LTCI) program called Corporate Solutions for the small business market to help provide individual LTCI at the worksite in the way that best suits employers' and employees' needs.

EL SEGUNDO--Computer Sciences Corporation today announced the availability of new releases of its life insurance, annuity, property and casualty (P&C) insurance, and reinsurance software components that implement the company's enterprise integration architecture, CSC e4. By using the CSC e4 framework, clients can exploit both the potential of new technologies and the embedded value in their legacy systems.

COLUMBUS, Ohio-- Nationwide Mutual Insurance Co., one of the country's largest property and casualty insurance companies, has received more than 22,000 claims in the past week for damages from Hurricane Charley. Overall, Nationwide estimates it will receive more than 50,000 claims and losses approaching $400 million.

WESTLAKE VILLAGE, Calif.--A small but growing group of customers are turning to the Internet rather than phone calls or office visits to communicate with their auto insurance provider, according to the J.D. Power and Associates 2004 National Auto Insurance Study released today.

ING has made enhancements to its online services for employer groups. The enhanced services include online reports, online documents, online evidence of insurability and online billing for self-accounting customers.

DAYTON, Ohio-- The Maryland Automobile Insurance Fund (MAIF), created by the Maryland State Legislature to provide insurance coverage for the state's most at-risk drivers, has chosen RiskWise solutions from LexisNexis, an information solution provider, to help screen information provided by applicants and claimants in an effort to proactively identify rate evasion and claims fraud.

To help doctors understand the role of return-to-work in recovery, CIGNA Group Insurance introduced a new Physicians' Disability Toolkit, an informational Web site for health care providers and their office staff is designed to aid patients' treatment and recovery plans.

GREENVILLE, S.C-- RBC Insurance is providing consumers the ability to acquire life insurance in as little as 15 minutes at its Web site located at www.rbcexpressterm.com.

INDIANAPOLIS--Consumers will be able to enjoy more options and flexibility to pay for health care expenses, gain more control over their health care dollars, reap tax benefits and plan for retirement as a result of Anthem Blue Cross and Blue Shield's (Anthem) introduction of its Health Savings Accounts (HSAs).

A lot has been made about insurers' attempt to comply with federal regulations, such as The USA Patriot Act and Sarbanes-Oxley, but lost often in the shuffle are the ongoing state-level regulations with which insurers must contend.

NEEDHAM, Mass.-- North American insurers currently are pursuing global expansion at a pace rivaling that of European insurers' entry into US markets in the early 1990s. TowerGroup finds that more favorable economics, key demographic trends and the gradual dissolution of international barriers to entry underscore the high growth possible for U.S. insurers in key emerging markets.