Risk

Amid the ingoing stream of dire economic news it is easy to forget the threat that terrorism poses to the U.S. economy and by extension, the insurance industry.

A two-year prediction of property/casualty insurers’ financials reveals marginal improvement.

To model for natural disasters, insurance companies rely on modeling expertise from firms such AIR Worldwide, RMS and EQECAT. New report from AIR Worldwide casts critical eye on predictive models.

Forbes.com Lists the 9 Safest 2012 Vehicles

State Farm has made its Driver Feedback mobile app available on Android devices. This free app is designed to turn a person’s cell phone into a pocket-sized driving coach when placed in the car.

On both the federal and international levels, 2012 will be a profoundly important year in the realm of insurance regulation, especially the Dodd-Frank Act.

Two of the world’s largest reinsurers, Swiss Re and Willis Re, announced new CEOs.

AGCS, the global corporate and specialty insurer in the Allianz Group, conducted the survey during the second half of 2011 to identify the risks respondents expected to have the greatest impact on their livelihoods.

Persistent economic, social and environmental risks are conflating to menace insurers.

Claims severity is also on the rise, but trend between profit and non-profit types of organizations is narrowing.

Global professional services company Towers Watson has released updated versions of its RiskAgility MoSes enterprise financial modeling software and RiskAgility Economic Capital (EC) Aggregator software.

Insurers are warming to the notion of standardized product approval according to a report from consulting and actuarial firm Milliman Inc.

The U.S. Department of Health and Human Services has issued an interim final rule to require adoption of standards and operating rules for electronic funds transfer and remittance advice HIPAA transactions.

The next major development in IIABNY’s legal effort to overturn a New York regulation mandating producer compensation disclosure will occur Jan. 10, 2012, reports the Independent Insurance Agents and Brokers of New York.

Frank Cowan Co. has selected the RC Inspection software solution from Risk Control Technologies Inc., a provider of loss-control software solutions for insurers, to streamline its loss-control operations. Frank Cowan will equip its team of risk-management inspectors with tablets complete with the RC Inspection application for loss-control management.

A day after the Insurance Information Institute released figures declaring 2011 the costliest year for P&C insurers covering U.S. cat losses, Munich Re and I.I.I. announced global cat figures.

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

In the face of the NTSB's recommended ban, auto manufacturers are gung-ho about adding more connectivity in the car.

Allstate Insurance Co. is seeking to recover $6.3 million against 83 New York-area defendants in its seventh insurance fraud lawsuit of 2011. The complaint, filed under the Racketeer Influenced and Corrupt Organizations Act (RICO) and principles of common law, alleges that the defendants engaged in separate, but parallel, schemes in which fraudulent and misleading bills were submitted to Allstate for durable medical equipment, medical supplies and orthotic devices.

A call for the revision of a federal law, which allows risk retention groups (RRG) to operate nationally when licensed in a single state, has been lodged by National Risk Retention Association General Counsel Robert Myers, Jr.