Putting risks on the map

Article Abstract:

Geographic information systems (GIS) offer potential benefits to property and casualty insurance companies. Insurers turn to computer resellers that provide technical services in order to adapt the GIS technology to various insurance applications. For instance, some companies apply geographic data in claims adjustment and underwriting procedures, while others integrate GISs into their sales and marketing programs. GISs can also enable insurers to complete the underwriting process in real time and therefore enhance efficiency.

Prepackaged software, Property & Liability Insurance, Direct Property and Casualty Insurance Carriers, Surety insurance, Usage, Telecommunications systems, Property and casualty insurance, Geographic information systems, Property and casualty insurance industry

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Accountants face risks doing estate planning

Article Abstract:

Accountants may gain estate planning business as the baby boom generation inherits an estimated $10.4 trillion, but it will be risky business. Claims from insureds for estate planning can be significant. Accountants should be familiar with estate planning issues or refer clients to someone who is. Tax planning for estates is different for each client, and accountants need to understand the plans and intentions of the client, the relevant assets and liabilities, and keep track of the client's life changes.

Trust, Fiduciary, and Custody Activities, Estate & Tax Planning, Column, Practice, Accountants, Estate planning

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Guard checks against tampering and forgery

Article Abstract:

There are several methods that can discourage check forgery and tampering. ABM Industries Inc. uses a desktop system with security cross-checking and other controls that help them track 2,500 claim checks per month and reduces costs. There are paper-based methods, such as color-treated check stock and watermarks that can not be copied. Some screens and designs are too intricate for copiers to reproduce, and void pantograph backgrounds read 'void' on the check face only when copied.

Commercial Banking, Business Checking, Methods, Safety and security measures, Insurance industry, Prevention, Checking accounts, Forgery, Corporate banking, Check truncation

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