Efforts by the Financial Accounting Standards Board to change accounting for insurance contracts deviate from an established, well-tested and reasonable norm, and essentially amount to a solution in search of a problem, according to comments by ACE Chairman and CEO Evan Greenberg.

Efforts by the Financial Accounting Standards Board to change accounting for insurance contracts deviate from an established, well-tested and reasonable norm, and essentially amount to a solution in search of a problem, according to comments by ACE Chairman and CEO Evan Greenberg.

While the term legacy is frequently thrown around as an attempt to motivate insurers to update aging platforms, decision-makers would be better served to make the case for change based on whether their systems are able to keep pace with their goals, rather than how old those systems may be,...

While the term legacy is frequently thrown around as an attempt to motivate insurers to update aging platforms, decision-makers would be better served to make the case for change based on whether their systems are able to keep pace with their goals, rather than how old those systems may be,...

Insurance telematics likely will go mainstream within five years, will have a medium-to-large impact on the auto-insurance market, and even though privacy concerns remain an obstacle, consumers are willing to have telematics devices installed in their cars if they can save enough on insurance, according to a recent survey.

Insurance telematics likely will go mainstream within five years, will have a medium-to-large impact on the auto-insurance market, and even though privacy concerns remain an obstacle, consumers are willing to have telematics devices installed in their cars if they can save enough on insurance, according to a recent survey.

The property and casualty industry posted its first half-year underwriting profit since 2007 and saw net income and pretax operating income increase by 65 percent and 40 percent respectively compared to 2012s first half, a new report states.

In auto insurance, the direct model is winning, the value of independent agents is diminishing and the proof is in an examination of the continued rise of Geicothe only major pure direct modelversus challenges at Progressive Corp. due to a legacy agency business, according to an analysis released today.