Risk Management

Cutting-edge technology and evolving business strategies will be revealed to insurers, reinsurers, producers and other insurance industry-related professionals attending the 2009 ACORD LOMA Insurance Systems Forum.

A four-year-old legal battle in Michigan over the state regulator's attempt to ban insurer use of credit scoring may be headed to the State Supreme Court after a judge's recent ruling in favor of carriers that oppose the prohibition.

The UK Financial Services Authority announced last week that a tribunal upheld its decision prohibiting the former chief executive at a General Reinsurance Group unit from working in financial services.

Two property-casualty insurance trade groups have argued to Congress that American International Group is off the mark in saying that its bankruptcy would pose a "systemic risk" to the property-casualty insurance industry.

Coral Insurance Company, a Florida residential property insurer with 11,750 homeowner policyholders, has been put in receivership, the Florida Department of Financial Services announced yesterday.

Reasons for supporting state regulation of insurance voiced by some governors don't withstand detailed scrutiny, officials at several Washington conservative think tanks said in a letter to congressional leaders.

A spokesman for the Florida Office of Insurance Regulation said that many insurers have expressed interested in providing coverage for policyholders with suspended home insurer Coral Insurance Co.

An insurance executives' think tank, in advance of the London G-20 meeting last week, wrote to finance leaders advising them that any regulatory moves to fix the economic crisis should recognize the difference between banks and insurers.