Risk

The insurance industry faces some headwinds entering 2011 – the most prominent of which is a persistent soft market.

AIG unit adopting remediation plan based on review of statutory filings to Pennsylvania Department of Insurance.

2010 lessons rely heavily on financial regulation, risk management, according to an Enterprise Data Management Council report.

AIA and ACLI contend interim rule would violate McCarran-Ferguson Act.

New report says in the wake of the financial crisis, life insurers face some major challenges.

National Insurance Producer Registry president, vice president and secretary/treasurer elected during December 15 teleconference meeting.

Chair, vice-chair and treasurer elected during a special December election.

A.M. Best affirmed USAA’s ratings, Fitch affirmed ratings for The Chubb Corp. and S&P affirmed its negative outlook on Kingsway and its subsidiaries.

The coming year will bring additional regulatory oversight and new efforts by health insurers to manage it. Health insurers will be asked to justify rate increases for individual and group policies, according to the Department of Health and Human Services. Last week HHS said it will require rate increases of 10% or more to be publicly disclosed and reviewed.

Provision of Dodd-Frank Act would require agencies to issue ratings using identical terminology.

Executives from across the globe are wrapping up reports on just what went wrong and why this year, with the key goal of avoiding similar glitches in the future.

Consumer Financial Protection Bureau may prove to be the most important agency to watch in 2011.

Perhaps no section of the law is more critical to that discussion than the Federal Deposit Insurance Corp.'s power to unwind failing giants.

Deciding which financial firms beyond banks are systemically important is one of the biggest decisions still to be made by regulators under the Dodd-Frank Act.

A member of RIMS’ board since 2000, Scott Clark will succeed Terry Fleming as RIMS’ president.

Insurer revamps website with research and tools to help employers manage the issue of absence administration.

New figures from PCI and ISO reveal a 62% gain in net income for P&C insurers.

A.M. Best affirms AIG’s P&C and life/health subsidiaries; Moody's affirms Fireman's Fund intercompany pool; Fitch affirms Lloyd's of London.

IIABA says removal of uncertainty going forward is key as President Obama signs extension of existing rates

With all the reports about how much insurers plan to spend on technology in 2011, little has been written about the impetus behind the decision. For carriers focused on compliance with regulatory bodies (which comprises the bulk of insurers), the strongest incentive for technology investments is risk management.