Insurance Journal - In response to global insurance industry software needs, Oracle has formed a new business unit, Oracle Insurance, and unveiled Oracle Application Integration Architecture (AIA) Foundation Pack for Insurance at the San Francisco Oracle OpenWorld. Oracle Insurance is designed to serve more than 2,000 insurance customers worldwide and help the insurance industry manage the entire software enterprise from technical infrastructure to core insurance processing, the company said.
National Association of Mutual Insurance Companies (NAMIC) - The presidential election isn’t the only one that will affect the insurance industry, especially for North Carolina residents who must elect a new insurance commissioner in November. “It’s important that employees and agents become educated about the commissioner candidates and their positions,” say Liz Reynolds, NAMIC’s Southeast state affairs manager.
Insurance Journal - The American Institute for CPCU and the Insurance Institute of America have replaced the SMART CD-ROM, which contained practice exams, with new SMART Online Practice Exams for 2009. The new online practice exams are available for all courses in these programs: General Insurance (INS), Associate in Claims (AIC), Associate in Commercial Underwriting (AU), Associate in Risk Management (ARM), and Chartered Property Casualty Underwriter (CPCU).
Florida Department of Financial Services - Florida Chief Financial Officer Alex Sink announced today that an investigation by the Department of Financial Services’ (DFS) Division of Insurance Fraud, has led to more than 110 criminal charges against Christiano Leonardo Gloria, the operator of one of the largest check-cashing operations in Broward County, for allegedly conspiring in a major money-laundering and workers’ compensation fraud scheme. Attorney General Bill McCollum’s Office of Statewide Prosecution will be prosecuting the case.
Risk & Insurance - Insurers need consistency, quality and speed--not whiz-bang application features they don’t use. They need efficiency: eliminating wasted time, effort and tasks. To help prevent a million-dollar mistake from happening, they need to uncover inconsistencies and other "red flags."
workerscompensation.com - The California Division of Workers’ Compensation (DWC) officially launched the Electronic Adjudication Management System (EAMS), its new electronic case management and calendaring system, at its headquarters and 24 district offices on Monday, Aug. 25, 2008. DWC employees actually began using the application on Friday, Aug. 22. EAMS, a $36 million, multi-year technology project, is where all new cases filed with DWC will be stored and calendared electronically.
Risk and Insurance - Similar to a triage nurse in an emergency room, claims professionals must evaluate the severity of each claim that comes their way and quickly identify the appropriate next step. The better the diagnostic tools they have and the more treatment options available, the more likely they will be able to provide the best treatment for each claim.
Business Insurance - A coal miner is entitled to permanent total disability benefits under Wyoming’s “odd lot doctrine,” which considers the education level of claimants limited to performing physical labor, the state’s Supreme Court ruled.
Business Insurance - Liberty Mutual Holding Co. and several of its subsidiaries filed a lawsuit in a New York federal court last week challenging some amendments made to New York’s workers compensation law. The suit, filed Aug. 13 in U.S. District Court for the Southern District of New York, targets the New York State Insurance Fund, its commissioners and the New York State Workers Compensation Board.
Insurance Journal - The Wyoming Supreme Court has upheld workers’ compensation death benefits for the widow of a man who was paralyzed by a workplace injury and who died years later of pneumonia. David Fisher was paralyzed by an accident while working for a sugar company in 1993.