Tag: us insurance industry

Catastrophe insurance market recommendations made by RIMS

H. Cutner
Insurance News on catastrophe insurance losses

A letter sent to the U.S. Treasury has made a number of natural cat coverage marketplace suggestions. The Risk Management Society (RIMS) has now issued a letter to the United States Treasury in order to share its recommendations regarding potential improvements to the way that the natural catastrophe insurance market operates throughout the country. The organization had been asked to submit this letter as an element of a study conducted by the FIO. The Federal Insurance Office (FIO), a part of the U.S. Department of the Treasury, is performing a…

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Insurance industry execs in U.S. recognize upgrade need

Julie Campbell
insurance industry modernizing

These leaders have stated that the core systems are in need of modernizing across the board. According to the results of a recent survey, two out of every three insurance industry executives – among the 200 who participated – said that they were dealing with aging legacy systems. This issue could result in a wide reaching barrier to being able to reach new markets. SAP AG has indicated that the current issue of aging legacy systems in the insurance industry could make it harder for insurers to reach new markets,…

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Insurance industry study shows leadership positions lack gender diversity

G. Turner
Insurance industry gender diversity

The research indicated that despite the fact that there are many women employed, they are not in these roles. According to the results that have recently been released from a study in the United States, the insurance industry is lacking in gender diversity across all leadership levels, even though there are a high number of women who have positions in the field. The study involved the data of 91 publicly traded companies as well as 9 mutual companies. The study was conducted by the team of primary author Mike Angelina,…

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Insurance industry report finally delivered by the Federal Insurance Office

Logan B.
Insurance Industry

Federal Insurance Office released long-awaited insurance industry report The U.S. Department of the Treasury‘s Federal Insurance Office has released a highly anticipated report concerning the insurance industry. The report was initially scheduled for release in January of 2012, but this release was delayed in order for the Federal Insurance Office to take better account of emerging trends in the insurance industry and provide better insight on how the industry has evolved over a relatively short period of time. The agency is tasked with providing these types of reports on an…

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Insurance industry in N.A. sees Canadian insurer sold to American company

Julie Campbell
insurance industry news

Travelers has announced that it will be making the purchase for $1.25 billion in cash. The North American insurance industry has seen another major acquisition as an American insurer, Travelers Companies Inc. has just revealed that it is making a purchase of the Dominion of Canada General Insurance Co. This purchase is being made for a total investment of $1.125 billion to buy the company outright. The acquisition is being made as a part of the attempt Travelers would like to make to expand its presence in the Canadian insurance…

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