Security risk

“The longer things remain uncertain, the more pressure that puts on the industry,” said Howard Mills, director and chief advisor of Deloitte’s insurance industry group and former New York State Insurance superintendent. “It’s sort of an artificial cloud hanging over the industry’s head; what’s going to happen with SIFI designations, what’s going to be in the FIO report? There’s just so much uncertainty out there.”

Additions to Technology Advantage designed to help agents navigate interfaces and technology companies protect against risk.

Configurable app blocks network connectivity; separate “What If Calculator” demonstrates the impact of tickets, accidents, moving and changing vehicles on insurance rates.

The life insurer's chairman and CEO spoke frankly before regulators, saying the "traditional business of life insurance does not pose systemic risk."

Riverside to use SunGard’s enterprise accounting system for investment and compliance, in addition to accounting.

U.S. commercial lines insurance underwriting performance also improved moderately last year, according to Fitch’s review of initial industry financial results for 2012, indicating that a market turn is taking hold, citing a second year of material premium growth and signs that loss ratios reached a cyclical peak in 2011 as indicators.

Actions against four large mortgage insurers is only the beginning as the Consumer Financial Protection Bureau looks to squash deals between reinsurers and mortgage insurers.

Bad driving habits and trends are diminishing among teens, according to a new report on teen driver safety released by The Children’s Hospital of Philadelphia (CHOP) and State Farm. From 2008 to 2011 the number of teen passengers killed in crashes not wearing seat belts decreased 23 percent, the number of teen passengers driven by a peer who had been drinking declined 14 percent, and 30 percent fewer teen passengers were killed in crashes involving a teen driver.

Commercial rates increased 5 percent, while personal lines prices were up 4 percent last month, according to MarketScout’s monthly Market Barometer.

As the system gains acceptance, regulators expect major expansions to the use of LEIs in an effort to gain insight into the connectivity of financial systems.

With questionable claims numbers and fraud costs expected to grow through 2016, Aite Group outlines emerging techniques and technologies to stem the tide.

Starting in 2014, workers at companies with fewer than 100 employees were supposed to have been able to choose from a variety of health plans through new small-business insurance marketplaces.

New version designed to complement governance, risk appetite measurement and assessment services.

Workers’ compensation and medical malpractice among lines most likely affected; impact likely to differ by state.

Coverage designed for U.S.-based multinational companies with complex exposures.

In anticipation of the announcement of designations for non-bank systemically important financial institutions, Howard Mills, director and chief advisor of Deloitte’s insurance industry group and former New York State Insurance superintendent, shares thoughts about some of the last-minute speculation and what options insurers will have if designated.

The part of the legislation that prompted the halt placed a cap on non-emergency care and a 14-day deadline for treatment from massage therapists, acupuncturists or chiropractors, as well as the requirement that an emergency medical condition exist for the full $10,000 PIP coverage.

As the life insurance and annuity industries move toward model-based approaches to reserve and capital valuation, actuarial models are increasing in complexity and sophistication while the imperative to avoid modeling errors also increases, according to a recent report from Deloitte, titled “Actuarial Modeling Controls: A Survey of Actuarial Modeling Controls in the Context of a Model-Based Valuation Framework.”

Cyber coverage levels also increased according to the report. Across industries, limits purchased in 2012 averaged $16.8 million, a 20-percent increase over 2011. Communication, media and technology companies led other industries in terms of average limits purchased, at $33.4 million, and the rate of increase, which was nearly 36 percent.

Armed with analytics, insurers should be able to make better business decisions more quickly and mobilize teams to connect better with customers, leading to success and growth, according to PwC.