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February 11, 2013

  Top Story 
 
  • Outlook remains stable for personal-lines insurance, A.M. Best says
    The stable outlook for personal-lines insurers continues as auto insurance results help compensate for weather-related volatility in property insurance, A.M. Best says. "Although property line volatility continues to be a drag on overall results, it has not materially weakened the segment's overall capital position, and auto results continue to be stable despite some margin compression," A.M. Best said. PropertyCasualty360 (2/8) LinkedInFacebookTwitterEmail this Story
Transformational Journeys: Modern Business Planning
Harvard Business Review explores why CFO's and their finance organizations must adapt to the changing landscape of their markets and how big data, organizational collaboration, and new cloud-based planning and analysis technologies are driving successful change.
Click here to access the report.

  Industry News 
 
  • Execs may face greater D&O liability risks, experts say
    Confirmation of Mary Jo White as chairwoman of the Securities and Exchange Commission would add to the liability exposures for directors and officers, experts said. The SEC should "stop wrongdoing when they see it," but "when they try to collect money, they do a bad job of it, and it puts courts in a position of having to apply rules as to whether the monetary settlement is just," said lawyer David Siegel of Irell & Manella. Business Insurance (tiered subscription model) (2/10) LinkedInFacebookTwitterEmail this Story
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  Catastrophic Risk 
 
  • Mayor: San Francisco buildings need more protection against quakes
    San Francisco Mayor Ed Lee is proposing tougher earthquake-safety rules for apartments and office buildings. The city's Board of Supervisors is largely supportive of the proposal to require building improvements. "We've been talking for years and years about doing something, and our voluntary retrofit program doesn't seem to work for everyone because the work is not getting done," Supervisor Scott Wiener said. ClaimsJournal.com/The Associated Press (2/8) LinkedInFacebookTwitterEmail this Story
  • National summit is needed to address climate change, groups say
    Groups that include the Society for Conservation Biology and the Society for Ecological Restoration have written a letter urging President Barack Obama to organize a summit on federal policies and local initiatives to address risks associated with climate change. "Such a national summit on climate change should be informed by science and could bring your administration together with leaders in the fields of climate research and modeling, mitigation, adaptation, and ecosystem restoration and resilience," the letter states. The Hill/E2 Wire blog (2/8) LinkedInFacebookTwitterEmail this Story
What's hiding in your data silos? Maybe organized crime.
Organized crime sees plenty of opportunities in insurance fraud. They go where the money is, and there's billions to be made here. In this paper, Chris Swecker, a former FBI agent and Head of Security for Bank of America, goes over the steps insurance companies should take to protect their data - and themselves.

  Policy and Law 
  • Mont. Senate bill targets workers' comp fund debt
    The Montana Senate's Finance and Claims Committee will review legislation that would put the surplus of the state compensation fund toward paying down the fund's debt, a measure that initially was endorsed by the Senate. Opponents have said the bill would lead to an increase in premiums, but supporters say the proposal would free taxpayers from paying down the debt. "This has nothing to do with premiums on any insurance policy that will be sold now. This bill will not raise premiums, but it will solve a problem," said Sen. Jim Keane, who sponsored the bill. Missoulian (Missoula, Mont.) (2/9) LinkedInFacebookTwitterEmail this Story
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  SmartQuote 
The only man I know who behaves sensibly is my tailor; he takes my measurements anew each time he sees me. ... The rest go on with their old measurements and expect me to fit them."
--George Bernard Shaw,
Irish playwright


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