In the insurance industry, trust is more than a shared concept; its a goal tied to business development, strategy and execution. Yet, according to a recent study, only 48% of consumers in the U.S. and the UK trust their insurance provider.
The Treasury Departments Federal Insurance Office has issued a formal notice and request for comment on its study, mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act, looking into how to modernize and improve the countrys insurance regulatory system.
EDGAR Online Inc., a global provider of XBRL (eXtensible Business Reporting Language) software, services and data, reports that it experienced a 280% year-over-year increase in XBRL filings in the third quarter.
As insurers begin to digest the information released this week by the Financial Stability Oversight Council of the U.S. Treasury Dept. qualifying and clarifying systemic risk, the SEC issued guidelines that laid out the kind of information companies should disclose regarding cyber events that could lead to financial losses.