Flooding in the Australian state of Queensland has intensified over the last few days as rainfall in January has compounded problems caused by rain and a tropical cyclone in late December, and insurers are reporting increasing claim counts.

Although property and casualty insurers weathered the global financial crisis better than other types of financial services firms, emotional scars remain—scars that have prompted insurers to hang onto extra capital, an industry expert contended.

Spending levels for most of Gartner’s clients are projected to go up in 2011, according to Kimberly Harris-Ferrante, vice president and distinguished analyst for Gartner, as they put the bad economy behind them.

Spending levels for most of Gartner’s clients are projected to go up in 2011, according to Kimberly Harris-Ferrante, vice president and distinguished analyst for Gartner, as they put the bad economy behind them.

The insurance industry is ablaze with news about how new technologies are transforming the insurance value chain. Insurers are actively looking to leverage appropriate technologies from agency and sales to underwriting and billing to claims handling.

November’s employment numbers were mixed for the insurance industry, with an overall slight increase of less than 0.1 percent as the agent and broker workforce returned to January 2010 levels, according to the Insurance Information Institute.

Tort costs dipped 2.7 percent in 2009 but are expected to grow over the next two years as the gross domestic product grows, said Towers Watson.

The Gulf oil disaster was the result of years of government and industry complacency and could have been prevented, according to an investigation, which called for constantly updated risk management plans by the industry and a “culture of safety.”