Security risk

As usual, the federal government chooses a sledge hammer to swat a fly, which means we all get squashed.

The Congressional Budget Office says tort reform will result in the reduction of health care costs in both direct and indirect ways.

The Congressional Budget Office says tort reform will result in the reduction of health care costs in both direct and indirect ways.

With the change from Bermuda to Ireland, the global insurance broker expects to see economic benefits that will help ensure continued global competitiveness.

The MGA’s new business, Goss Reinsurance Brokers Inc., will operate as a specialty reinsurance broker for medium to small insurance carriers, captives, self-insurance funds, risk retention groups and other similar specialty insurance operations.

A mixture of new technologies and business imperatives are causing insurers to redefine the boundaries of data security.

Howard Schmidt will be responsible for orchestrating cybersecurity activities across the government and coordinating efforts to better protect private information networks.

Out-of-state residents are charged with insurance fraud after providing false information.

New York-based Fitch Ratings has published two documents updating the criteria the firm uses to assess insurance companies.

A.M. Best, and Moody’s Investors Service released ratings updates. The following are some of the most recent:

Auto insurers hoping to keep rates under control can look forward to a happy new year. As Jan. 1, 2010 quickly approaches, Illinois, Kansas, New Hampshire and Oregon are all preparing to enforce stronger laws regarding cell phone use and texting, says Property Casualty Insurers Association of America (PCI).

Massachusetts Attorney General Martha Coakley’s Office has released a report that criticizes deregulation of the auto insurance market in the state.

The top 10 risks facing business today may be largely elusive to corporate leaders, according to Joe Plumeri, Willis Group Holdings Limited. At a Town Hall meeting in Los Angeles this week, the global insurance broker’s chairman and CEO called on businesses to step up and acknowledge and respond to the risks facing business.

Aon Corp. launched Aon Broking, a broking strategy for clients of the firm's retail brokerage operation. The new strategy is designed to ensure that Aon Risk Services’ clients benefit from the broking resources Aon provides, and gain access to solutions and markets for their specific needs.

Many of us are trying hard to see positive trends for the coming year, but employment remains the only meaningful bellwether of change.

The National Institute of Standards and Technology is seeking information as it launches an initiative to analyze health information technology standards to better focus resources on those that facilitate health information exchange.

After days of procural votes, the Patient Protection and Affordable Care Act finally passed in the Senate early Thursday morning by a margin of 60-39. The sweeping reform legislation now moves to a conference committee where Senate and House negotiators will forge a single bill that each chamber must once more vote on before sending it on to the President for final passage.

A.M. Best , Fitch Ratings, Moody’s and Standard & Poor’s (S&P) released ratings updates. The following are some of the most recent:

Private U.S. property and casualty insurers’ net income after taxes rose to $16.2 billion through nine-months 2009, partially recovering from the 91.2 decline to $4.4 billion through nine-months 2008 from $49.6 billion through nine-months 2007. Insurers’ overall profitability as measured by their annualized rate of return on average policyholders’ surplus (or statutory net worth) increased to 4.5 in the first nine months of 2009, having previously fallen to 1.2 in the first nine months of 2008 from 13.1 in the first nine months of 2007.

With the program set to expire at year’s end, President Obama has signed the latest in a series of temporary extensions to the National Flood Insurance Program (NFIP) into law.