Insurance Operations Enhancements

Top Benefits of a Claims and Underwriting Procedures Review

As insurers, you understand just how difficult it can be to keep up with everything that’s changing in the industry. In 2018, technology is playing an even bigger role than before; reinsurance rates are rising thanks to the natural disasters that plagued our country last year, and cyber insurance is something we are all trying to wrap our heads around.

Top Enterprise Risk Management Misconceptions

When it comes to Enterprise Risk Management (ERM), many believe the effort needed to gain buy-in, implement and manage, outweigh the potential benefits. While it can be challenging, the benefits to the organization are substantial and continue to grow as the program is refined and optimized. Perception is often reality, and there are several misconceptions about ERM that tend to dissuade insurance companies from considering this increasingly important management strategy.

Game Changing Insurance Regulations

May 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-09 “Disclosures about Short Duration Contracts.” The FASB was looking to (1) increase the decision usefulness of the information about an insurance company’s insurance ….

Texas Trial Lawyer Storm Chasing May Finally Get Its Due

Is it possible Texas property and casualty insurers might finally get some relief from unscrupulous Texas trial lawyer storm chasers? The Texas House Insurance Committee has recently made inroads into the trial lawyer hail chasing tradition.

Accounting Standards Update: ASU 2016-01

On January 5, 2016, the Financial Accounting Standards Board issued Accounting Standards Update: ASU 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Liabilities. The amendments in this update are intended to address certain aspects of recognition, measurement, presentation and disclosure of financial instruments.