Security risk

After President Obama reintroduced Richard Cordray as the long-term head of the Consumer Finance Protection Bureau yesterday, many were still calling for restructuring.

IMF Report says mandatory reinsurance cessions regulations are protectionist, hinder market access and growth.

More natural peril events occurred in 2012, but the losses incurred were far below the record-highs established in 2011.

A day after the National Association of Insurance Commissioners announced former U.S. Sen. Ben Nelson (D-Neb.) will be the organization’s new CEO, several industry groups have commented on the appointment.

With climate change prompting a transformation, insurers will find opportunity to take on some risk in the energy sector, which will continue to be crucial in the world economy.

From 2008 to 2011, the number of questionable claims suspected of being part of an organized group or ring activity increased by 47 percent, according to the National Insurance Crime Bureau’s “Data Analytics Forecast Report.” However, that number of questionable claims with the OGA referral reason decreased markedly in 2011 and continued to fall in in the first half of 2012.

With Own Risk and Solvency Assessment regulatory requirements approaching, P&C insurers believe the process will improve the link between their company’s enterprise risk management efforts and capital and strategic planning, according to a new Towers Watson survey.

Making agents’ lives easier with these technology advances should be on every insurer's to-do list this year, according to IIABA’s Agents Council for Technology and ACORD’s User Group Information Exchange.

Governor decries "one size fits all" system, calls for reforms to the state's no-fault auto insurance policies.

Reserving software is now adapted for evolving regulatory requirements.

Insured losses from natural catastrophes were greater than $110 billion in 2011, the second-highest figure ever recorded, according to Swiss Re in “Taking a Comprehensive View of Catastrophe Risk Worldwide,” a report from AIR Worldwide. And there is a 6.7 percent probability the insurance industry will experience a loss of this size in any given year. In 2012, insured losses totaled $65 billion, $25 billion of which are attributed to Superstorm Sandy, as estimated by Munich Re.

The clarification of certain rules, as well as information security, were among the topics discussed in two meetings this week.

20-year veteran of AIG climbs to executive ranks after four years at Zurich.

In response to President Obama’s nomination of White House Chief of Staff Jack Lew as Treasury Secretary, the Property Casualty Insurers Association of America expressed its eagerness to working with Lew.

Report from the U.S. Government Accountability Office also finds some potential risks to consumers and insurers.

Fitch says total estimated losses could continue to rise, as several insurers have yet to release loss estimates.

A.M. Best maintains its stable outlooks on the P&C, life and reinsurance sectors despite significant and persistent challenges, including loss reserves, low interest rates, weather-related volatility and increasing competition.

Lincoln Financial Group recently announced the appointment of James DelBello as SVP and head of business law and compliance, effective immediately.

Severe weather-related catastrophes in United States accounted for a larger-than-normal portion of global catastrophe losses in 2012, increasing to 67 percent from an average of 32 percent, and 90 percent of global insured losses, compared to an average of 57 percent, according to Munich Re.

This compilation of the top slideshows of 2012 is based on pageviews and represents the biggest topics and trends from the past 12 months.