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Daily NewsFlash : March 13, 2013

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Wednesday, March 13, 2013

Moody's: 2012 P&C Net Income Increases 50%

P/C increases

Net income for P&C insurers increased almost 50 percent in 2012 compared to the year prior, driven by higher earned premiums and slightly-lower, but still high, catastrophe losses, according to a special comment from Moodys Investor Service. For most insurers, investment income increa...

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U.S. Steps Up Alarm Over Cyberattacks

Cyber securityThe nation's top spies warned Tuesday of the rising threat of cyberattacks to national and economic security, comparing the concern more directly than before to the dangers posed by global terrorism. 

U.S. in...

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Google Concedes that Drive-by Prying Violated Privacy

Google and privacyGoogle on Tuesday acknowledged to state officials that it had violated people's privacy during its Street View mapping project when it casually scooped up passwords, e-mail and other personal information from unsuspecting...

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ACE Survey: Wealthy Individuals and Families Frequently Overpay to be Underinsured

ACE USAMost wealthy individuals and families who insure their assets with carriers geared primarily for the average U.S. household overpay for coverage that leaves their wealth unnecessarily exposed to the risk of ...

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Oklahoma Senate Votes to Privatize CompSource Agency

Oklahoma Workers CompThe Oklahoma Senate has approved legislation to privatize the state's nonprofit workers' compensation agency.

The Senate passed the measure Tuesday by a vote of 36-11. It heads to the House, where ...

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Iran Plans to Sue Hollywood Over Oscar-Winning Movie "Argo"

ARGOIran is planning to sue Hollywood over the Oscar-winning "Argo" because of the movie's allegedly "unrealistic portrayal" of the country, Iranian media reported Tuesday.

Several news outlets, including the pro-reform Shargh daily, said French lawyer Isabelle Coutant-Peyre is in Iran for talks with officials over ho...

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Aon and Berkshire Hathaway Deliver Groundbreaking Insurance Sidecar Facility

AonAon Risk Solutions, the global risk management business of Aon plc, has signed a unique co-insurance agreement with Berkshire Hathaway International Insurance Limited (Berkshire Hathaway) that provides clients fast and efficient access to AA+* rated capacity for all eligible business placed by Aon Risk Solutions where the Lloy...

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NAIC Chief Executive Urges State Action on ORSA, Principles-Based Reserving

NAICBen Nelson, the new National Association of Insurance Commissioners chief executive officer, wants state lawmakers to adopt model rules he sees as beneficial to protect insurer solvency.

Speaking at the National Conference of Insurance Legislators meeting in Washington, D.C., Nelson sought to develop a working rel...

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