Insurance is necessary for the survival and growth of any free market economy. Because of this necessity, insurance practitioners are expected to practice applying a high ethical standard; they are expected to know their profession. Education is one part of …
Two major organizations that supply standard forms, rating information and policies to the property/casualty insurance industry have agreed to work more closely together. The American Association of Insurance Services (AAIS), and ACORD (Association for Cooperative Operations Research and Development) have …
Global standards development organization ACORD announced that a coalition of major Russian insurers, including subsidiaries of Allianz and Zurich, have agreed to work together to implement its standards. “When completed, this will become the first documented ACORD implementation in the …
A global accounting rule rushed through after pressure from politicians during the financial crisis may have to be tweaked, sparking disruption for investors and companies. The International Accounting Standards Board (IASB) had long planned a revamp of its “fair value” …
While the European Union is primarily focused on the approach of the Solvency II regulations in 2013, there are two additional regulatory bodies who are also considering some new rules that will affect not only the EU, but also the …
Insurers and brokers are beginning a pilot of ACORD Standards in South Africa. “Piloting is the stage after development efforts where participants utilize the Standards in real-world situations to ensure all needs are met,” the announcement explained. “This effort focuses …
There is much talk in every industry about Best Practices. So what are Best Practices? One definition says: Best practice is a management idea that asserts there is a technique, method, process, activity, incentive or reward that is more effective …
