Risk

Consumers want it, but will we survive it—and how do we insure it?

Moody's affirms ratings of New York Life and TIAA-CREF Life Insurance; A.M. Best and S&P react to Fidelity National Financial’s merger announcements.

Unusual circumstances, geographies and risk concentrations contributed to higher-than-normal natural catastrophe losses, notes German reinsurer Munich Re, which points to the first half of 2010 as being marked by an exceptionally large number of natural catastrophes and the scale of the losses they caused.

The insurer settled its suit with the Connecticut AG regarding a lost drive in 2009 that contained the health info of 1.5 million members.

An increase in qualified actuarial resources, and a need to move actuaries into more strategic activities, will offer insurers opportunities that were previously unavailable.

Insurer says old enrollment forms containing sensitive information were mistakenly left in discarded file cabinet.

Experts contend the financial reform legislation does little to ensure accountability among regulators.

The Department of Health and Human Services has launched a website to enable consumers across the nation to compare and choose health insurance plans operating in their geographic region.

The bill lays out an ambitious agenda for consumer protection, but leaves the new regulator on its own for how to accomplish those goals in addition to getting itself up and running.

In the face of public anger, and legislators anxious to produce a fix, the insurance industry was able to influence the course of financial reform legislation largely to its liking.

Insurable losses from the hurricane not to exceed $200 million, notes AIR Worldwide.

New standard reinsurance agreement slashes commissions.

The bill was passed late Wednesday 237 to 192, and goes on to the Senate, which is not expected to act until later this month.

The bill's ultimate fate remains a cliffhanger as Senate leaders announced they would not consider it until after the holiday recess.

Anthem amended the number of members and applicants affected by a compromised Web site to more than double the previously announced figure.

The boards believe the amendments would improve the comparability of fair value measurements presented and disclosed in financial statements prepared in accordance with U.S. GAAP and IFRS.

Standard Poor's Ratings Services issued a statement today charging that the fundamental structure of the U.K. life insurance sector is changing. Life insurers over the next few years will have to adapt their business models at both the local and European levels to accommodate changes due to economic weakness and regulatory changes, notes the rating agency. Market consolidation could accelerate and product economics could be reappraised, with renewed attention on distribution models, notes S&P.

Moody’s and S&P assign ratings to Penn Mutual's surplus notes while A.M. Best revises the Michigan Blues’ outlook, and removes Jackson National Life from under review.

In ruling, justices vote to uphold primary tenets of Sarbanes-Oxley Act.

While the House is still expected to pass the bill, it's unclear if Democrats still have enough support to enact it.