Security risk

AIR Worldwide, catastrophe modeling firm, estimates that insured losses from Sandy to onshore U.S. properties will be between $7 billion and $15 billion.

National Hurricane Center’s latest advisory indicates Hurricane Sandy will strike close to midnight; CoreLogic lists the 25 NYC area zip codes at risk of the most property damage.

Early estimates range from $1-$5 billion in damages along the U.S. east coast from what is being dubbed a "Frankenstorm."

Newest version of the study includes predictive modeling analysis, spans five-year period from 2006 to 2010.

Category two hurricane is expected to stalk the east coast, 250 miles offshore.

There are several adjustments insurers can make in the wake of initial feedback from the NAIC regarding its pilot review of U.S. ORSA summary reports.

Insurer seeks improvements in operational intelligence as well as regulatory reporting with latest purchase.

While the majority of insurers plan to be ready by the proposed 2015 deadline, many still have to address their IT practices.

Panel representing hundreds of vendors and businesses engaged in cloud deployments globally discuss standards.

Gallagher looks to Unison’s industry relationships to complement its employee benefits brokerage operation.

Sentry Insight is designed to help companies and brokers manage, track and analyze claims.

Insurer looks to e-Discovery software suite to advance its legal, IT infrastructure.

Newly formed Global Federation of Insurance Associations will comment on issues affecting the global insurance industry and its regulation.

Digital signatures brought to the cloud in support of E.U. eSignature laws.

Potential voluntary federal guidelines foretell a future that may require keeping a close eye on the balance between collaboration and control.

The global financial crisis and subsequent economic developments have brought to light critical weaknesses in existing hedge programs.

Based on a review of 35 major health plan websites, most issuers are still struggling to provide the Summary of Benefits and Coverage (SBC), even while the SBC provision of the Patient Protection and Affordable Care Act (PPACA) law took effect last week, according to Tyrula LLC. The law requires insurers to provide a paper SBC document within seven days of application, renewal, or the first day of coverage.

Claims processing remained the top compliance issue for P&C insurers, followed by rating factors and the cancelation of policies. In terms of life and health insurers, problems with claims processing stole the top spot away from compliant policy forms, which was reported last year as the biggest compliance issue. Failure to pay claims properly in accordance with policy provisions was only fifth on that list for life and health insurers.

With 2015 deadlines approaching, the NAIC recently conducted a pilot program with 13 insurers and shared some guidelines and best practices.

Many major insurers use non-driving factors, such as education, occupation and lack of previous insurance in setting prices, and a majority of Americans think that’s unfair, according to results of a Consumer Federation of America (CFA) survey.