IBM announces a definitive agreement to acquire Varicent Software Incorporated, a provider of analytics software for compensation and sales performance management. Varicent is a privately held company, with headquarters inToronto.

An adjuster was presented with a water-damage claim involving what was described as an antique 10-by-13-foot Heriz Rug valued at $25,000. The water damage caused the colors to run, rendering the Persian rug a total loss, according to the insureds claim.

U.S. insured losses in March from severe weather are expected to pass $1.8 billion, according to Impact Forecasting, the catastrophe-model-development center for Aon Benfield.

Brian Duperreault, president and CEO of Marsh & McLennan Cos., has been named chairman of the Federal Advisory Committee on Insurance (FACI). The announcement was made March 30 by Marsh & McLennan, following the committees first meeting.

Accurence Inc., a provider of on-site-inspection and automated-scoping software for property-insurance claims adjusters, has announced a long-term strategic alliance with First Choice Repair.

Marsh, a wholly owned subsidiary of Marsh & McLennan Cos., says it has acquired Cosmos Services (America) Inc., the U.S. insurance-brokerage subsidiary of global trading firm Itochu Corp.

One mans days in the sun could be numbered after he allegedly committed insurance fraud to collect thousands in undeserved workers compensation benefits.

Automation implies labor-saving steps, which is usually followed by layoffs. So it should come as no surprise that some underwriters dont look kindly on automated-underwriting solutions, since they foster the perception that the underwriters role is shrinking.