Security risk

Rules passed in the wake of the financial services meltdown will likely require insurers to exhibit better control of their processes.

Regulations are imperiled as European Union members spar over changes that could weaken capitol requirements.

Hosted by NAVA, the seminar will offer a variety of educational offerings and guidance, including a panel of independent broker-dealers discussing their firms’ plans to roll out STP programs.

Aon's CEO says the new business unit will leverage the talent within the former Benfield Corporate Risk division to bring global solutions to its construction, energy, marine, space and aviation clients.

The Public Entity Risk Institute's (PERI) says its program's expansion signifies increased awareness on the part of government entities of the value of benchmarking and performance measurement to control costs.

While few will fault insurers for focusing on survival during these turbulent times, a chance to redefine themselves now exists.

NAMIC says small insurance companies at risk unless plan is reformed.

This acquisition is the latest of many investments The Hanover has made in the past five years.

TowerGroup says tumultuous past year will color the insurance industry going forward.

Deal is an acknowledgement by risk management solutions provider of critical emergent risk factor: climate change.

Minneapolis – Under a new presidential administration, successful financial services and insurance organizations will be those that are not only able to adjust to a changing regulatory landscape, but ones that can also demonstrate they are embracing the letter and the spirit of the law. So say experts at Wolters Kluwer Financial Services, a provider of compliance and operational risk management solutions to financial organizations.

Philadelphia –The legislation and regulations governing the insurance and reinsurance industries that appear directly tied to the financial crisis are causing discussion both in the mainstream press and in smaller markets hoping to involve themselves to a positive end.A story in this morning’s Washington Post described moves by insurance companies to buy savings and loans to get a piece of the $700 bailout pie. Lincoln Financial Group, Genworth Financial and The Hartford Financial Services Group are among several carriers that have recently announced plans to qualify for the government’s $700 rescue funds by purchasing a thrift.

New York - The Risk and Insurance Management Society (RIMS) and LogicManager today released RIMS State of ERM Report 2008. The report substantiates the value of ERM for organizations of all types. It also indicates that companies that have greater risk management and ERM maturity levels enjoy higher credit ratings.

Chicago – The Property Casualty Insurers Association of America (PCI) joined insurance and salvage industry representatives at a meeting last week with the Department of Justice and the American Association of Motor Vehicle Administrators (AAMVA) to discuss proposals regarding insurer and salvage yard reporting of total loss data to the National Motor Vehicle Title Information System (NMVTIS).

Washington — In Congressional testimony today, New York Insurance Superintendent Eric Dinallo edged away from plans to regulate part of the credit default swap market.

Washington - A request to establish a process that might reject certain disclosures in mutual insurers’ financial statements was in effect denied Tuesday afternoon by the NAIC’s Statutory Accounting Principles and NAIC/AICPA Working Groups, reports the National Association of Mutual Insurance Companies (NAMIC).

Chicago — In testimony before the House Committee on Financial Services, Cameron Findlay, executive VP and general counsel of Aon Corp., urged the U.S. Department of Treasury to acquire the hundreds of billions of dollars of illiquid assets that reside on the ledgers of 's financial institutions.

Albany , N.Y. — The New York State Insurance Department is readying a review of financial stress testing and scenario analyses of insurers in the state.

Privy to a variety of educational sessions, technology showcases and business analytics, rating and underwriting product launches, attendees at ISO’s annual conference were told that “winners will have ERM in all parts of their business.”

Lockton Cos.' Fall 2008 Market Update reports that insurance carriers face an ominous set of facts entering the final weeks of 2008.