News

Cutting-edge technology and evolving business strategies will be revealed to insurers, reinsurers, producers and other insurance industry-related professionals attending the 2009 ACORD LOMA Insurance Systems Forum.

Pushed up by limited capacity, U.S. property-catastrophe reinsurance rates for April 1 renewals had increases up to 14 percent for national programs, a reinsurance brokerage reported.

Although declining industry surplus would normally spur a hard market, last year's 12 percent plunge is a less potent driver of insurance market conditions than a demand falloff resulting from depression-like economic conditions, some experts say.

A four-year-old legal battle in Michigan over the state regulator's attempt to ban insurer use of credit scoring may be headed to the State Supreme Court after a judge's recent ruling in favor of carriers that oppose the prohibition.

The UK Financial Services Authority announced last week that a tribunal upheld its decision prohibiting the former chief executive at a General Reinsurance Group unit from working in financial services.

Even as some insurance industry bonuses draw criticism, Jack Windolf, the chief executive officer of Bollinger Insurance Solutions brokerage, is drawing national acclaim for dishing out $1,000 to all 434 company employees from his own pocket.