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  Top Story 
  • Report: Insurers replace core systems to boost business agility
    A majority of insurers say they replace their core systems chiefly to improve their business agility, according to a report from Celent. Although carriers face difficulty in determining monetary gains from replacement of core systems, addressing legacy systems is crucial for insurers to remain flexible, according to the report. "Current engines may allow the insurer to speed up, but not too fast, and certainly not to execute any emergency braking," the report says. Insurance Networking News (12/24) LinkedInFacebookTwitterEmail this Story
  Industry News 
  • Experts: New workplace risks result from demographics, technology
    Changing demographics and the increasing use of personal devices and social media in the workplace have resulted in new cyber-risks, experts say. "Maybe the changing demographics of the workplace doesn't so much affect who's using social media, because many people of all ages are using it, but perhaps the approach as to what is acceptable in the workplace, or acceptable use in the workplace, may vary from group to group," Proskauer Rose's Marc Mandelman said in a webinar. Business Insurance (tiered subscription model) (12/23) LinkedInFacebookTwitterEmail this Story
  Catastrophic Risk 
  • Severe weather causes property damage in several states
    Severe weather that moved across the U.S. on Tuesday caused property damage as at least 15 tornadoes were reported in states including Texas and Alabama. The storm system dumped heavy snow and rain in other states. It was moving east with the possibility of producing more tornadoes in Georgia and the Carolinas, the National Weather Service said. ABC News (12/25) LinkedInFacebookTwitterEmail this Story
  • Environmental groups suggest uses for N.J. areas at risk from storms
    Officials in New Jersey may need to consider a "strategic retreat" from flood-prone areas as well as a program to convert these areas for parks, wetlands and other alternative uses, according to environmental groups. "If this is the new normal now, then we need to seek out some different solutions than what we have right now," said Joe Reynolds of the Bayshore Watershed Council. For Gov. Chris Christie's administration, "without doubt, rebuilding the shoreline is a critical environmental priority" for the year ahead, said Larry Hajna of the Department of Environmental Protection. Asbury Park Press (Neptune-Asbury Park, N.J.) (12/26) LinkedInFacebookTwitterEmail this Story
  Policy and Law 
  • Okla. may look to Ark. in potential workers' comp revamp
    Oklahoma lawmakers may use Arkansas' workers' compensation system as a reference as they consider doing away with workers' comp courts, according to this article. Workers' comp rates in Arkansas are third lowest in the U.S., while Oklahoma ranks sixth among states with highest premiums, according to a report by Oregon's Department of Consumer and Business Services. "There's too much litigation in Oklahoma. ... In Arkansas, the incentive is for employers to put employees back to work, and for employees to go back to work," said Allyn Tatum, former chairman of the Arkansas Workers Compensation Commission. Tulsa World (Okla.) (12/25) LinkedInFacebookTwitterEmail this Story
  • Other News
  SmartQuote 
Never get so fascinated by the extraordinary that you forget the ordinary."
--Magdalen Nabb,
British author


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