Policy adminstration

American International Group Inc. CEO Robert Benmosche reportedly told the company’s directors that he would like to hold on to his position longer than he previously planned, the Wall Street Journal reported on its website.

With another stroke of the pen, President Obama signed a continuing resolution that keeps the troubled National Flood Insurance Program (NFIP) alive until May 31, 2012. The program had been scheduled to expire at midnight on December 23.

Recent calculations from ISO and PCI indicate insurers faced extreme headwinds in their core business—underwriting.

With a net income decrease of over $20 billion and an increase in statutory combined ratio of over 8 percentage points based on year-to-year comparisons of the first nine months of 2010 and 2011, the P&C sector continues to weather a tumultuous storm. High natural catastrophe-related losses have devastated insurers bottom lines and decimated underwriting performance as a whole.

CBIZ Inc. has acquired the actuarial and retirement plan consulting business of PSA Insurance and Financial Services, effective Nov. 1, 2011. PSA's actuarial and retirement plan consulting book of business recorded about $1.2 million in revenue during the last 12 months and includes four associates servicing the business.

Farmers Insurance has named Scott Stice and Joe Richardson to newly created senior officer positions.

Agencyport Software has named Jeff Costley as senior sales director.

Off-the-shelf consumer devices present conveniences for IT staffs and employees alike, but the list of potential risks they present warrants concern.

Insurance broker Willis Group Holdings announced the retirement of Grahame J. Millwater, who currently serves as president of Willis Group Holdings and chairman & CEO of Willis Global. Millwater, who joined Willis as part of its graduate program in 1985 and was appointed president of Willis Group in 2008, has served the company in many roles of increasing responsibility.

Tokio Marine Holdings Inc. (TMHD) will acquire all outstanding shares of Delphi Financial Group Inc., a financial services holding company comprised of specialty life and P&C insurance and insurance-related businesses. The transaction is for $43.875 per Class A share and $52.875 per Class B share in cash, through TMHD's wholly owned subsidiary, Tokio Marine & Nichido Fire Insurance Co. Ltd. (TMNF). In addition, Delphi shareholders will receive $1 in cash per share, pursuant to a one-time special dividend from Delphi for each share of Class A and Class B stock they own. The total transaction value is around $2.7 billion and is expected to close in the second quarter of 2012.

Aon Corporation has agreed to pay the Department of Justice (DOJ) and Securities Exchange Commission (SEC) approximately $16.3 million as part of a settlement related to charges of foreign bribery.

Priority Data has added four township mutual partners in Minnesota. In October, Priority Data launched Farm and Home quoting for North Branch Mutual. The company says it also has signed agreements with Sverdrup Mutual, Madelia-Lake Crystal Mutual, and Has San Lake Mutual to launch quoting, rating and underwriting solutions in the first quarter of 2012.

David Woods, former NAIFA CEO, discusses the virtues of learned lessons and the flaws of asking for perfection.INN is pleased to present, with permission, this video from the Wealth Channel, an online resource for financial services professionals.

The industry's struggle to assess and implement the right technologies at the right time.

With the stroke of a pen on Saturday, President Obama signed a continuing resolution that bought the troubled National Flood Insurance Program (NFIP) another week of funding.

Regardless of external factors, companies engaging in M&A activity generally outperform the Global MSCI Index by 2.9 percent based on year-to-date statistics from 2011.

The insurance industry experienced decent top-line growth, fairly resilient margins and increased capital management in 2011. Keefe, Bruyette & Woods expects it to continue into 2012 and stocks will be traded more in line with fundamentals next year.

New survey shows savings from cloud computing are barely making a dent in corporate IT budgets. Is it time to rethink the approach?

Talend, an open-source software company, says BF&M Insurance, a Bermuda insurance group, has added ESB Enterprise Edition to its portfolio of Talend integration solutions.

Agencyport Software (formerly Sword Insurance), a provider of software and services to the global insurance and reinsurance industries, has released the latest version of its automated solution for migrating entire books of business, BookSmart 2.3.