Security risk

Sen. Bob Corker argued against enactment of sweeping legislation granting the government new resolution powers over systemically important companies, suggesting Congress should give the Treasury authority on a case-by-case basis.

Insurers trying to obtain the sage advice of industry research experts may feel it’s akin to hitting a moving target, but the result is industry analysis excellence.

Greater press reports that senior policymakers are meeting to discuss creation of a commission to regulate financial products.

Karen Clark & Co., a Boston-based firm comprising catastrophe risk, catastrophe models, and catastrophe risk management consultants, reports that it has been selected by the National Association of Insurance Commissioners (NAIC) as the lead consultant in developing a recommendation on the scope, timeline and potential costs of building a national catastrophe multi-peril model for personal lines.

Like many stakeholders in the insurance technology arena, the Association for Cooperative Operations Research and Development (ACORD) took advantage of its annual conference (the 2009 ACORD LOMA Insurance Systems Forum) this week in Orlando to bolster its influence in the industry with several announcements.

When I first set foot in the pastoral environs of the insurance industry some dozen years ago, the producers of the ACORD conference, later to become the ACORD LOMA Insurance Systems Forum, had grand visions for the event.

Combining ACORD standards with enterprise cloud computing, Informatica Corp.an independent provider of data integration software and services, announced customer success with the Informatica Insurance Gateway for Salesforce CRM. The solution is designed to improve interactions between insurance carriers and their distribution networks by enabling the sharing of trusted real-time data via the Web.The solution builds upon the joint success Informatica and Salesforce.com have garnered with customers, as more than a dozen carriers including AAA, Florida Family, and Hagerty are already using Informatica to integrate back office systems to Salesforce CRM and Force.com solutions.

Zurich North America announced its entry into the Risk Retention Group (RRG) and Self Insurance Groups (SIG) markets. The announcement was made last week at the Arizona Captive Insurance Conference in Phoenix . Zurich ’s North America Commercial Alternative Solutions Group reports that it has been the market leader in the member-owned Group Captive field and is now taking that expertise to the owners and members of RRG, SIG and Pooling Groups.

EbixExchange – a division of Ebix, Inc. received three awards relating to insurance industry standards forum the Association for Cooperative Operations Research and Development (ACORD) yesterday at the ACORD conference, held at the Walt Disney World Dolphin Resort. The awards were presented to EbixExchange Director of Carrier Product Development, Sandy Hampel, in recognition of EbixExchange’s leadership in ACORD standards adoption.

Insurance Networking News (INN) and Celent released INN’s third annual technology solution provider ranking for the insurance industry today at a black-tie awards event held at the ACORD LOMA Insurance Systems Forum in Orlando.

Group says federal oversight will undermine state-based consumer protection laws.

Recent survey results show companies lack transparency needed to prevent insider threats.

In spite of a down economy, actuaries and risk experts show no real changes to their risk management approach, notes survey.

In a letter to Congressional leaders, Treasury Secretary Timothy Geithner made it clear that the government is serious about revamping the nation’s financial regulatory system.

Letter may shift long-running debate about flood insurance program.

Loss of deductions would be harmful, industry says.

The Insurance Information Institute says the industry’s present capital position is stronger than before any of the major catastrophic events over the past quarter century.

GE's micro-holographic discs could allow all data on a computer to be stored on a single disc that can be read by a DVD-like player.

The Washington Legal Foundation says a set of rules adopted by the NAIC that requires insurers to disclose information related to climate change serves mainly to promote the ideological objectives of global warming activists.

Employer webinar series designed to provide information on rapidly changing and complex compliance regulations.