The Risk and Insurance Management Society Inc. praised the Department of Homeland Security for its recent adoption of private sector preparedness standards.
The soft market continues to challenge reinsurers, and although 2010 has seen disasters, the events will not be enough to harden pricing, according to a panel of senior reinsurance executives.
With so many reports of insurance companies choosing new systems or service providers, it appears that companies are constantly engaging in major projects to improve their systems capabilities.
The property and casualty insurance industry continued to have sufficient reserves through 2009, though adverse development of older-year losses and a downward trend in premium growth could reverse favorable reserve strengthening trends in the future.
Before Congress and the administration turned their attention to health insurance reform, it was possible to believe insurers could escape rate regulation if they had the option of choosing federal insurance regulation over state regulation.
Agent associations joined the National Crop Insurance Services in criticizing the Obama administration's decision to cut the federal crop insurance program by $6 billion over the next 10 years.
Final action on the insurance section of financial services reform legislation has been delayed as conferees work through an impasse over a federal insurance office's scope of authority in international matters.