Blog | Regulations/Financial Systems

FIO and NYDFS: A Tale of Two Reports
June 13, 2013 @ 14:25 PM | By Anthony O'Donnell

New York Insurance Commissioner Ben Lawsky's criticism of captive reinsurance deals appears sensationalist in light of the yesterday's FIO report and industry-side statements.

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Agile Financial Management: Re-visioning the Budget Process
May 15, 2013 @ 10:36 AM | By Peter Witham- UNIT4 Business Software

To create an accurate budget you need visibility into a single set of data and the ability to see clear across your organization – regardless of geographic locations, currencies, and other barriers.

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Insurer Group: Sharing Telematics Data Must Be Opt-In
May 03, 2013 @ 11:25 AM | By Nathan Golia

The Association of British Insurers tells its members that getting "explicit consent" from policyholders is a best practice when sharing telematics data outside core insurance practices.

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4 Health Insurance Reform Concerns Technology Can Address
April 26, 2013 @ 10:27 AM | By Martyn Christian- Kofax

Technology will offer the healthcare industry a means to fast-track the Affordable Care Act by delivering customer-driven processes that leverage information capture and smart process technology, cloud access and mobility, making compliance affordable to insurers.

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FIO Modernization Report 13 Months Late, Along With Other Deliverables
February 15, 2013 @ 10:48 AM | By Anthony O'Donnell

HFSC urges FIO to deliver "long overdue" reports and says it will work to limit the FIO from imposing unwarranted or excessive data collection burdens on the insurance sector or on small insurers in particular.

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UK Also Grapples with Wisdom of Government Flood Insurance
November 28, 2012 @ 10:12 AM | By Nathan Golia

In the wake of devastating flooding in England and Wales, the UK government is considering what it should do to insure losses.

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Impact of 2012 Election on Insurance: More of the Same?
November 09, 2012 @ 16:51 PM | By Kathy Burger

Regardless of the implications for the insurance industry of the reelection of Barack Obama as U.S. president, insurers are still facing an increasingly complex and tech-driven competitive environment.

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Regulators Remind Insurers of CAT-related Duties
October 30, 2012 @ 11:51 AM | By Anthony O'Donnell

Wolters Kluwer's Kathy Donovan reports that some East Coast regulators issued bulletins and alerts to give insurers guidance on their responsibilities related to Hurricane Sandy.

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Insurance Investment Rules Are Changing -- Ready or Not
September 11, 2012 @ 10:10 AM | By Dennis Lebar- SunGard

The fixed-income investment landscape has changed dramatically over the past 15 years, yet investment guidelines set out by the NAIC have stayed largely the same. Now, state regulators are starting to catch up, which means insurers must update their investment policies, compliance procedures, and the technology that supports them.

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Report: More Than Half of States Have No Health Insurance Exchange Plan
August 08, 2012 @ 10:26 AM | By Nathan Golia

Even though the Supreme Court gave the Affordable Care Act the green light, 29 states still have no plan for one of its central components, an Oklahoma newspaper reports.

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Now What? Figuring Out the Impact of the Supreme Court's Surprising Ruling on the Affordable Care Act
June 28, 2012 @ 13:13 PM | By Kathy Burger

For health insurers, the potential implications or the High Court's ruling upholding most of the ACA could affect everything from premium rates to fraud detection efforts to stock performance.

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Regulatory Certainty Should Facilitate Health Insurance Innovation
June 28, 2012 @ 13:02 PM | By Nathan Golia

Now that the Affordable Care Act has survived the Supreme Court, insurers can focus on their compliance efforts without nagging doubts.

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Health Insurance Mandate Constitutional — Early Reactions
June 28, 2012 @ 11:42 AM | By Anthony O'Donnell

The Court held that the mandate within the Affordable Care Act to purchase health insurance is constitutional as long as states would only lose new federal funds if they fail to comply with the new requirements, rather than existing sources of healthcare-related funding.

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Survey: Insurers Expect Most Health Insurance Sold Via Exchanges in 5 Years
June 22, 2012 @ 11:54 AM | By Nathan Golia

And only four percent of respondents say they believe the country is on the right track when it comes to health insurance.

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How to Meet Solvency II Requirements and Improve Decision Making Through an ERM Platform
May 23, 2012 @ 12:12 PM | By Glenn Lottering- Oracle Insurance

Insurers that replace their existing legacy technology solutions can not only achieve compliance and cost control goals, but also ultimately be able to make more informed business decisions across a range of functions — including strategy development, product pricing, profitability, reinsurance, and performance management.

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Will Reform-Driven Innovations Continue if Law is Struck Down?
March 28, 2012 @ 10:51 AM | By Nathan Golia

Health insurers have embraced modernization of the healthcare system since the Affordable Care Act was passed.

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Geithner on Late FIO Reports: Sorry, But We Want to Get It Right
March 21, 2012 @ 10:05 AM | By Anthony O'Donnell

Treasury Secretary Timothy Geithner says he doesn't think there's a lack of resources at the FIO, just a desire to work "carefully."

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NAIC: Oklahoma Insurance Commissioner Doak Didn't Speak for the Organization
March 07, 2012 @ 12:21 PM | By Anthony O'Donnell

Oklahoma Insurance Commissioner's assertion that the Federal Insurance Office is unconstitutional was his opinion, not that of the NAIC.

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NAIC Member Strikes Back: FIO "Unconstitutional"
March 06, 2012 @ 10:43 AM | By Anthony O'Donnell

At the NAIC's spring meeting in New Orleans, Oklahoma Insurance Commissioner John Doak called the FIO an unconstitutional usurpation of states' rights.

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Attorney Suggests Royce Wants FIO to Supplant NAIC
March 02, 2012 @ 10:57 AM | By Anthony O'Donnell

Since the NAIC acts in an advisory rather than a compulsory role toward the state insurance regulators, it does not act as a regulator, says Michael Nelson, chairman of law firm Nelson Levine de Luca & Horst.

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