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UnitedHealthcare, the nation’s largest insurer, has begun to offer new policies to midsize employers that reward individuals for health results. These new policies are currently available to employers in Rhode Island, Pennsylvania, Ohio and Colorado, and the company may launch them nationwide in 2008.     “We’re going to reward individuals for health results, not… Continue reading Insurer Looks to Reward Healthy Employees

The Solvency II proposal that would bring new risk-based capital regime for European insurers and reinsurers was accepted by the European Commission yesterday. The regime is expected to be fully implemented by 2012. The Comité Européen des Assurances, which represents European insurers and reinsurers, said it welcomed the initiative which it said would modernize solvency… Continue reading European Commission Adopts Solvency II Proposal for EU Insurers

At an industry conference held in Berlin on Monday, PartnerRe CEO Patrick Thiele announced that U.S. catastrophe reinsurance prices held up better than had been expected during critical contract renewal discussions. The renewal discussions were held in May and June, when many insurers with exposures in the hurricane-prone southeastern United States renew their annual risk… Continue reading Disaster Reinsurance Prices “Better than Expected”

Certified Financial Planner Board of Standards, Inc. (CFP Board) has strengthened the ethical standards for financial planners who are authorized to use the CFP® certification designation, in an effort to ensure that consumers have access to competent and trustworthy financial advice. According to the CFB, Americans face increasingly complex financial choices, and they can rely… Continue reading CFB Board Raises Ethical Bar for Financial Planners

New European legislation to be unveiled today could spark a wave of merger and acquisition activity in the insurance industry, experts predict. Known as Solvency II, the legislation will overhaul the rules that determine how much buffer capital insurers must hold. Its goal is to better match the capital the risks insurers face today, and… Continue reading Legislation Proposed in Europe May Result in More M&As

According to a recent on-line survey about P/C insurance technology conducted by Fiserv, Inc., a provider of information management systems and services to the insurance and financial industries, nearly all insurers acknowledge the need to improve their underlying technology to compete more effectively and better serve their customer base. Although many insurers already serve customers… Continue reading Carriers Acknowledge Need to Improve IT Services

A survey recently released by AIG SunAmerica and conducted by Harris Interactive shows that securing a significant source of retirement income guaranteed for life is a top financial goal for almost all boomers.       Participants of the “America Speaks Out on Retirement: 2007 Investor Research Study” stated that guaranteed lifetime income, protection against investment… Continue reading Retirement Needs for Boomers Opens New Opportunities for Insurers

Minnesota-based Travelers Cos. Inc. has entered into a settlement to completely rsolve all current and future asbestos-related coverage claims against Travelers and its subsidiaries relating to ACandS Inc. According to the settlement agreement, Travelers will contribute $449 million to a trust to be established pursuant to ACandS’ plan of reorganization. Travelers stated that it expects… Continue reading Travelers to Resolve Asbestos-Related Claim

In response to comments made by Governor Charlie Crist in the July 3 edition of the “South Florida-Sun Sentinel” regarding insurance rates, the Property Casualty Insurers Association of America (PCI) issued statement below by William Stander, assistant vice president and regional manager for PCI.    “It is important to clarify a comment made by Gov.… Continue reading PCI Responds to Florida Governor’s Statements

According to Dallas-based electronic insurance exchage, MarketScout, rates for all lines of commercial Property/Casualty insurance continued to decline in June, with an overall average decline of 14% compared with a year earlier. Umbrella/excess coverage experienced the largest rate reduction at 16%. Fiduciary and surety experienced the smallest decline, with decreases of 5% each. In general,… Continue reading Commercial P/C Rates Decline in June