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Staff
The massive 9.0 earthquake in Japan prompted us to ask a sobering question: What kind of damage would be inflicted if a quake of the largest anticipated magnitude struck one of the five major fault lines in the Continental U.S.? The three major cat modelers—EQECAT, RMS and AIR Worldwide—provide their...
Arthur D. Postal
State insurance regulators delayed for at least four weeks action on a resolution that would support insurance agents’ demands for an exemption from the healthcare reform law’s medical loss ratio (MLR) provision.
Chad Hemenway
N.Y. Gov. Andrew Cuomo and legislative leaders have agreed on a state budget that includes merging the state’s insurance and banking departments.
Phil Gusman
As the world watches events surrounding Japan’s Fukushima Dai-ichi nuclear plant unfold, questions have arisen about preparedness at nuclear facilities here in the U.S.
Chad Hemenway
A U.S. District Court judge has granted the National Football League Players Association a permanent injunction against the league, resolving a workers’-compensation-related dispute that has gone on for decades.
Mark E. Ruquet
Mike Miley, chairman of the Independent Insurance Agents & Brokers of America, tells us what tops the association’s legislative agenda, in advance of its annual America Legislative Conference.
Mark E. Ruquet
A new venue, a new Speaker of the House and some new, pressing concerns will greet agents and brokers at this year’s Independent Insurance Agents & Brokers of America Legislative Conference and Convention in Washington, D.C.
Arthur D. Postal
Disclosure that the Federal Reserve Board has subjected MetLife to a “stress test” should put to rest any thoughts that the insurance industry has repulsed intervention by federal regulators into their business, a concern that was raised by the near-failure of American International Group.
Chad Hemenway
In their assessments of the likely losses the Tohoku earthquake caused to Japanese non-life insurers, prognosticators revealed the companies had accumulated significant residential catastrophe reserves—something that could not be said of insurers in the United States should a similar event happen here.
Robert Regis Hyle
What do baseball and insurance have in common? Quite a lot, according to Robert Regis Hyle, Editor in Chief of Tech Decisions, our sister publication.
Chad Hemenway
Chartis, the property and casualty unit of American International Group Inc. (AIG), says it has reorganized the structure of its management team, with Peter D. Hancock replacing Kristian P. Moor as CEO.
Michael A. Costonis
Predictive analytics can be a powerful weapon in the battle against fraud. By modeling past incidences of fraud, and pairing those results with social-network analysis, predictive analytics can help insurers understand what it is about a claim, claimant or insured party that correlates with a higher propensity for fraudulent behavior.
Jeff Snyder
How can smaller insurance companies compete against slick ad campaigns? Through superior service and word of mouth, says Jeff Snyder, an agent with Farmers Mutual Insurance Company.
Chad Hemenway
Foreign reinsurers may be permitted to post less collateral when doing business in New Jersey with legislation signed by Gov. Chris Christie that gives regulators the ability to cut previous full-collateral requirements.
Mark E. Ruquet
Last year was a costly one in terms of dollars and human life as insurers saw catastrophe losses increase by 59 percent from the previous year, according to a Swiss Re report.
William F. Stewart
A climate nuisance liability case to be heard by the Supreme Court may be the environmental case of the decade, according to William F. Stewart, a coverage attorney, who details the implications of Conn. vs. AEP.
Caroline McDonald
Lloyd’s says its 2010 before-tax profits dropped nearly 42 percent to £2.19 billion ($3.44 billion at current exchange rate) compared to £3.87 billion ($5.9 billion) in 2009.
Arthur D. Postal
The Federal Reserve Board says it has rejected American International Group’s offer to buy back a package of securities it had sold the Fed when it needed cash in November 2008.
Mark E. Ruquet, Phil Gusman
Standard and Poor’s has revised its outlook on nine Japanese insurers due to the March 11 earthquake and tsunami, while Moody’s says current loss estimates by two reinsurers are credit negative for that sector.
Caroline McDonald
With a mega-disaster such as the recent Japan earthquake and tsunami, recovery occurs on many levels, much of it dependent on the culture and community of the inhabitants, according to an author and researcher.
Thomas Mulvey
Over the next five years, we should expect dramatic changes in insurance underwriting, claims handling and fraud detection. What are the key trends, and what will be their impact on the claims-handling and fraud-fighting workflow between now and 2016? Here are some predictions.
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