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February 19, 2013

  Top 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 
 
  • Tractor-trailers need better under-ride guards, group says
    Under-ride guards on tractor-trailers are not effective in preventing vehicles from going beneath such trucks during a collision, resulting in about 400 fatalities and 5,000 injuries every year, the Insurance Institute for Highway Safety says. The National Highway Traffic Safety Administration is researching how to enhance the standards for under-ride guards, and the IIHS is encouraging requiring stronger guards such as those used in Canada. WBBH-TV (Fort Myers, Fla.) (2/18) LinkedInFacebookTwitterEmail this Story
  • Research center on automated cars opens in Calif.
    Nissan says a new facility in California will be used for research on automated vehicle systems. "We're going to focus on this technology really in the heart of where it lies today. We are going to be shifting work that’s being done in our Nissan Advanced Technical Center in Atsugi, [Japan], and moving that work over to the heart of the industry," Nissan's Carla Bailo said. Bloomberg Businessweek (2/18) 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.

  Catastrophic Risk 
 
  • Ill. city to offer buyouts for homes at risk of flooding
    As much as $10 million in federal, state and local funds could be used in Des Plaines, Ill., for a program aimed at buying out homes in flood-prone areas. At least 28 homes may be eligible for the program. "The nice advantage to our program is that it's voluntary. There is no eminent domain involved. You can get an appraisal and if you don't like it, you can walk away," said Ron Davis of the Illinois Emergency Management Agency. Chicago Tribune (tiered subscription model) (2/21) LinkedInFacebookTwitterEmail this Story
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  Policy and Law 
  • Bill on medical-error mediation advances in Ore. Senate
    An Oregon Senate committee has endorsed a bill that would allow mediation for patients injured by mistakes during a medical procedure. The bill "will benefit hundreds if not thousands of individuals," said Gov. John Kitzhaber. Insurers could face higher administrative costs, while physicians may have to pay higher premiums under the bill, said Jim Dorigan of The Doctors Co. "I support the efforts that went into the development of Senate Bill 483, but I don't want it to foreclose on addressing the issues of liability reform," Dorigan said. Insurance Journal/The Associated Press (2/17) LinkedInFacebookTwitterEmail this Story
  • Editorial: Md.-backed insurer should allow payment in installments
    Maryland's General Assembly should support legislation to allow the state's auto insurer of last resort to accept premiums in installments rather than enable finance companies to charge high interest rates for customers to pay their premiums in advance, according to this editorial. The proposed installment payments could result in savings of $300 for motorists, the editorial says. The Baltimore Sun (2/18) LinkedInFacebookTwitterEmail this Story
  • Kan. workers' comp bill gets Senate panel's support
    A Kansas Senate committee has endorsed a bill to update medical guidelines for workers' compensation cases so that injury-impairment criteria from the American Medical Association are used. The bill faces criticism from labor and trial lawyers, and state Sen. Tom Holland said he is concerned "that there are classes of workers out there who will no longer qualify for work disability" under the measure. Lawrence Journal-World (Kansas)/Capitol Report blog (2/18) LinkedInFacebookTwitterEmail this Story
  • Other News
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  SmartQuote 
Everything that lives, lives not alone, nor for itself."
--William Blake,
British poet and painter


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