New Jersey Gov. Chris Christie’s decision to toughen guidelines for rebuilding following Superstorm Sandy is drawing praise from the insurance industry. The governor announced Thursday the state was immediately accepting new and more stringent building standards for flood zones. They …
ACORD, the nonprofit global data standards organization for the insurance industry, and DISA, the organization for development of healthcare and cross-industry e-commerce business interchange standards, said that the two organizations will consolidate under the ACORD banner. “This merger allows us …
The National Glass Exchange (NGE) has launched its Windshield Protection Plans in markets across the nation. The plans supplement existing auto insurance and provide for repair or replacement of the covered vehicle’s windshield. “This is a completely new product in …
The Connecticut insurance sector plays a vital role in the global insurance landscape and the state’s economy, according to a new report from the Connecticut Insurance and Financial Services (IFS) Cluster and PwC US. The 2012 Connecticut Insurance Market Report …
Continued economic pressure will force the insurance industry to take a more innovative approach to the role technology plays in their decision-making and operations, according to a new report from Ovum. A focus on mobile solutions, advanced analytics and near-realtime …
As aging personnel begin to leave the insurance industry in record numbers, the industry is developing strategies to counteract the shrinking workforce. With 15 years of property/casualty experience working as a claims supervisor and defense litigator under his belt, Kevin …
Less than a year after a series of tornadoes caused some of the worst insured losses in U.S. history, the insurance industry is likely facing substantial costs again after storms killed at least 33 people on Friday. Friday’s system has …
Travelers Companies Inc reported a smaller profit for the fourth quarter, as it released less money from its reserves than a year earlier, though it also reported its biggest rate increases in eight years as the industry returned to pricing …
Damaging hailstorms in Australia. Unprecedented tornadoes in the southeastern United States. Constant windstorms in northern Europe. Sound familiar? This year is starting a lot like last year in terms of unexpectedly severe weather, to the consternation of the insurance industry, …
Insurance industry damage claims from natural disasters like the earthquakes in Japan and New Zealand reached a record $105 billion in 2011, said Munich Re, the world’s biggest reinsurer. The cost to insurers from the earthquake and tsunami in Japan …
