News Archive from October 30, 2012
- Sandy Unlikely to Sink Catastrophe BondsOctober 30, 2012Investors who have put their
money into specialist financial bonds which cover insurance
companies from huge natural disasters are unlikely to be hit
with big losses from monster storm Sandy even though it is one
of the biggest ever to hit the United State
- Sandy "Worst Possible Category 1 Storm" for N.Y. City: CoreLogicOctober 30, 2012Dr. Tom Jeffery, chief hazard scientist for CoreLogic, says the only way to get a bigger storm surge in Manhattan is with a Category 2 storm.
- Hurricane Sandy Insured Losses Widely Outstrip IreneOctober 30, 2012Hurricane Sandy appears to have easily
caused more losses than last year's Hurricane Irene, but final
totals will be hard to come by for some time because of the
scale of the disaster, catastrophe forecasting companies said on
- Business Insurers Face Tangle of Sandy ClaimsOctober 29, 2012The varied size and needs of clients represent a challenge for their insurers.
- What’s Sandy Going to Cost?October 29, 2012FEMA says Sandy could cause $3 billion in wind damage alone; others place Sandy in the company of Irene, Ike and maybe beyond.
- Magna Carta's CIO Reports Remotely on Carrier's ReadinessOctober 29, 2012CIO David Lawless reports that the NYC-headquartered company's Northeast employees are working safely from home, thanks to virtualization, and that Oregon-based claims staff are at the ready.
- CURE "Beefed Up" Reinsurance After Irene: COOOctober 29, 2012The New Jersey-based auto insurer also plans hyper-local storm outreach for future storms, according to COO Eric Poe, who envisions these major events hitting the company's home state much more often than they have historically.
- PURE Prepared for Sandy Using Cloud Based CapabilitiesOctober 29, 2012PURE will be able to maintain uninterrupted processing, communications and remote work through cloud-based policy administration, claims, telephony and call center.
- Capital Markets Shut After Sandy Strengthens OvernightOctober 29, 2012Hurricane Sandy, the monster
storm bearing down on the U.S. East Coast, strengthened on
Monday after hundreds of thousands moved to higher ground,
public transport shut down and the U.S. stock market suffered
its first weather-related closure in 27 years.<
- Insurers Put Finishing Touches on Hurricane Sandy PrepOctober 28, 2012Insurers say they are making the
usual preparations for a hurricane - activating claims teams,
staging adjusters near the locations most likely to be affected
and generally getting ready to pay for a potentially huge volume
- Sandy Leaves 31 Dead in CarribeanOctober 26, 2012Slow-moving Hurricane Sandy, a
late season Atlantic storm unlike anything seen in more than two
decades, slogged toward the U.S. East Coast on Friday after
killing at least 31 people on a trail of destruction across the
- East Coast Prepares for Unprecedented "Frankenstorm" SandyOctober 26, 2012Virginia declared a state of
emergency on Friday, neighboring states readied utility crews
and New York City said it may shut down mass transit as
authorities along the U.S. East Coast prepared for a potential
pounding from Hurricane Sandy.
- Aflac Creates CTO Role in New Investments DivisionOctober 25, 2012Former Deutsche Bank technology executive J. Peter Kelso takes the reigns of the new position, which is in a recently created office tasked with managing Aflac's investment portfolio.
- Blue KC Builds Private ExchangeOctober 24, 2012The insurer partnered with Benefitfocus on a retail platform for exchange-based distribution.
- Core Systems Are Not Enough: CEO Ryu Introduces Guidewire Live NetworkOctober 23, 2012The vendor has pooled data shared within its user community, combined it with external content, and developed apps to deliver meaningful insights.
- Could Prudential be "Too Big to Fail?"October 22, 2012The new U.S. risk council has
moved closer to deciding whether Prudential Financial is
"systemically important," a Prudential spokesman said on Friday,
a tag that would translate into greater regulatory scrutiny for
the second-largest U.S. life insurer.
- United Insurance Names First Claims HeadOctober 19, 2012This is the second holding company to name an enterprise-wide claims leader this week.
- ING Sells off Asian Insurance Units to Repay State DebtOctober 19, 2012Hong Kong businessman Richard
Li, the younger son of Asia's richest man, is buying ING's
Hong Kong, Macau and Thailand insurance units for $2.14
billion in cash, bringing the Dutch financial services company a
step closer to paying off its state bailout.<
- New York Life Names New Long-Term Care HeadOctober 18, 2012Troy Glover is currently the COO of the unit, where he oversees among other things tech strategy for long-term care.
- Favorable Pricing, Weather Send Travelers to Record ProfitOctober 18, 2012Travelers posted a record
quarterly operating profit as prices rose and losses from
natural disasters fell sharply, the property insurance company
said on Thursday.
- AXA Equitable Names New Distribution HeadOctober 17, 2012David Kahal is made SVP of life distribution management.
- Alterra Appoints First Chief Claims OfficerOctober 17, 2012Nick Conca has previously worked at Liberty International.
- Trustmark Voluntary Benefits Taps Sapiens ALIS for Speed to Market, ServiceOctober 16, 2012The benefits solutions-focused company selected Sapiens offering best met the company's long-term strategic objectives after an extensive evaluation process.
- Esurance Delivers on Ease of Doing Business OnlineOctober 16, 2012The insurer's recently announced Express Lane capability allows applicants to pre-fill data and speed the application process.
- UnitedHealth Reports Higher Enrollment, EarningsOctober 16, 2012UnitedHealth Group Inc. reported
a 23 percent rise in third-quarter earnings on Tuesday as
enrollment in its plans increased and spending declined, and the
largest U.S. health insurer raised its full-year forecast.See more news