Security risk

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.

Ahead of the upcoming holiday, the National Insurance Crime Bureau analyzed vehicle theft data to determine the 11 most popular holidays for vehicle thefts.

INN’s top videos list is based on views and contains must-know information from some of the most forward-thinking voices in the industry.

Several insurers across both property/casualty and life insurance sectors received patents in the past weeks for their technology and process innovations.

Clients in two Midwestern states to use Priority’s quoting, rating and underwriting solution.

Weather-related losses in the United States dominate the insurer’s list of losses.

The three software tiers feature improved interoperability with external systems, enabling them to operate seamlessly within an insurer’s enterprise risk management platform.

In the wake of Sandy, a study notes how insurers’ are seeing the benefits of embracing risks related to climate change.

Implementation of the web-based platform from ISCS is already under way, according to the mutual insurer.

RiskIntegrity Solvency II Solution designed to help with calculating, consolidating and reporting on insurance portfolios.

Attorneys General around the country receive notices from the insurer this morning about social security numbers, driver’s license numbers and other personal information of its customers being compromised.