Bismarck, N.D. – A coalition of consumer representatives have asked the National Association of Insurance Commissioners (NAIC) to revisit the recently adopted changes to the viatical settlement model law. In a letter, the group raised the specter of conflict of interest, and urged NAIC to strengthen its policy regarding it.

Washington – Legislation introduced in the House aimed at revamping the National Flood Insurance Program (NFIP) is garnering praise. H.R. 3959, sponsored by Rep. Scott Garrett (R-N.J.) and Financial Services Committee Chairman Barney Frank (D-Mass.), proposes to gradually phase out some of the subsidies in the program.

Philadelphia - For nearly two decades, consulting firms, technology companies, R&D-driven corporations and other knowledge-intensive organizations have made significant investments in "knowledge management" initiatives. These initiatives are intended to facilitate the capture and transfer of company expertise as a way to spur learning and innovation.But research by Wharton management professor Martine Haas and Morten Hansen, professor of entrepreneurship at INSEAD, indicates that knowledge sharing efforts often fail to result in improved task outcomes inside organizations—and may even hurt project performance. However, organizations that plan carefully before launching a knowledge-sharing initiative, and support these efforts along the way, have a much better chance of adding value, the researchers say.

Washington - A notice published in the Federal Register seeking comments for a broad Treasury Department review of financial regulation is biased in favor of federal regulation of insurance and foreign business entities, according to the Alexandria, Va.-based National Association of Professional Insurance Agents (PIA).The specifics of the Nov. 11, 2007 published notice "raise critical concerns about the direction, purpose and intent of the review process itself, concerns we are compelled to address directly to you at this time," states PIA in a letter to Treasury Secretary Henry Paulson.

Stamford, Conn.—A recent release from Pitney Bowes Inc. announced its Pitney Bowes Group 1 Software and Pitney Bowes MapInfo business units, acquired separately, will combine into a single software company. The move is effective immediately, and the businesses will merge operations over the next several months.

Washington — The Office of Management and Budget has released a "statement of administration policy" threatening a presidential veto of legislation aimed at extending the Terrorism Risk Insurance Act (TRIA).

Washington — Insurance industry associations are giving mostly favorable reviews to the passage of H.R. 2761, legislation that would extend and expand the Terrorism Risk Insurance Act (TRIA). The bill, which passed the lower chamber yesterday by a vote of 312-110, aims to extend TRIA for 15 years, and expand the number of lines covered within it.

Needham, Mass. — A new research report from TowerGroup Inc. says insurers should go above and beyond current regulatory requirements when dealing with the issue of annuity suitability.

Washington — The heads of two insurance industry associations have issued a joint letter urging the National Governor's Association to drop their opposition to the National Insurance Act.

Washington — The need to comply with Section 404 of the Sarbanes-Oxley Act (SOX) is only having a minimal effect on enterprise risk management (ERM), new research has found.

State College, Pa. — Optical Image Technology Inc. (OIT), developer of DocFinity workflow and document management software, announced its strategic alliance with compliance content management solution provider Conexxus.

Hopkinton, Mass. - EMC Corp., a Hopkinton, Mass.-based information infrastructure solutions provider, announced that it has acquired American Fork, Utah-based Berkeley Data Systems Inc., a privately held provider of online information backup and recovery services. Berkeley Data Systems provides Mozy, an online subscription service for the protection of data that resides on desktops, laptops and remote office servers.

Fremont, Calif. — Tricom Document Management Inc., a company specializing in outsourcing services, has been awarded a Silicon Valley/San Jose Business Journal "Fast 50" Private Companies listing for 2007. The award designating Tricom as the 12th fastest growing private company in Silicon Valley was announced in the Journal's special publication, The 50 Fastest Growing Private Companies in Silicon Valley for 2007.

Conyers, Ga. — ImageRight, a Vertafore Inc. company, has acquired Computers by Design Inc. (CBD). CBD provides imaging and document management solutions for the insurance industry. CBD will function as the retail agency division of ImageRight.

Westlake, Ohio — Wilton, Conn.-based Wilton Re has signed a multi-million dollar administrative services agreement with Westlake, Ohio-based Antares Management Solutions and U.K.-based GeniSys Group.

Smithtown, N.Y. — Bank of Smithtown Insurance Agents & Brokers Inc., a wholly-owned subsidiary of Bank of Smithtown, acquired all assets of Payne & Palmieri Inc., an independent insurance agency located in East Setauket, N.Y.

New York - New York Life Insurance Co. promoted Alexander Burbatsky to senior vice president in the corporate information department--giving him responsibility for all aspects of delivery of infrastructure services.

Houston — Stewart Information Services Corp. plans to merge its two related technology subsidiaries, Stewart Transaction Solutions and PropertyInfo Corp. Stewart expects the merger to be completed by Jan. 1, 2008.

New York - Empire BlueCross BlueShield launched its Empire Prism suite of health plans, the New York company reports.

Toronto — Camilion Solutions Inc., a Markham, Ontario-based provider of product development solutions and next-generation policy administration systems to the insurance industry, announced that accelerated business growth has necessitated a relocation of their corporate headquarters to a facility twice the size of their previous location.