News

Many insurers are overlooking a system to capture, manage and store unstructured data that can ease information workloads, help them deal with regulatory compliance and improve operational accountability, a recent survey has found.

As some companies begin eliminating or playing down the significance of annual mileage as a rating factor, a new study reports a "strong correlation" between miles driven and auto insurance claim costs.

The Real Time/Download Campaign, an effort by a confederation of agents, insurance companies and independent agent trade groups to find speedy workflow systems, said it has increased the number of its webinar offerings.

Moody's Investors Service, citing the impact of stock market declines yesterday, downgraded the insurance financial strength rating of National Indemnity Company and the long-term issuer rating of its ultimate parent, Berkshire Hathaway Inc.

Larger insurance brokers are expected to see improvements in earnings as the market cycle begins to turn, but middle market brokers may still suffer from the effects of the economic downturn, according to a financial analyst's report.

U.S. property-casualty insurers in the 2008 fourth quarter chalked up a $1.69 billion loss compared with a $12.9 billion profit the year before, Insurance Services Office and the Property Casualty Insurers Association of America (PCI) reported.