When Steve Evans devised of a plan to launch a social media site for reinsurance professionals, he may not have anticipated the popularity of the medium. But the site, reinsurancetweets.com, is proving that a business culture assumed to be slow to adopt new technologies is stepping up and using the medium as a way to improve business.

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ReinsuranceTweets.com is designed to engage all individuals interested in reinsurance.

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Spending on cloud computing in global financial services will grow from $4 billion in 2010 to more than $27 billion by the end of 2015, a compound annual growth rate (CAGR) of nearly 47%, according to a new report released by research consultancy TowerGroup.

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Yet despite rapid growth, cloud-based services will represent only about 6% of IT spending by2015 due to challenges of changing delivery models, the need to recover sunk costs, regulation, and reticence.

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U.S. life insurers’ 2010 commercial mortgage loan performance favorably exceeded Fitch Ratings’ http://www.fitchratings.com expectations. Approximately 99.6% of mortgage loans held by U.S. life insurance companies were in good standing at Dec. 31, 2010, a level similar to year-end 2009. The loans posted actual realized losses of $1.36 billion (0.5% of total adjusted capital) in 2010, which was below the rating agency’s expectations of up to $3 billion in losses and was a modest decline from $1.41 billion in losses realized in 2009. Fitch believes that mortgage loan performance has benefited from increased liquidity and continued low interest rates.

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International travel insurance plans are designed to meet the health insurance needs of travellers who are visiting foreign countries and residing there for a specific period. Foreign citizens are not eligible to purchase domestic health insurance plans of any countries. Also, staying uninsured in a foreign country can be a nightmare for the travellers. The health care system is very expensive and can lead to bankruptcy if the travellers are not covered under a proper medical insurance policy.

International travel insurance plans are designed by some of the prominent insurance companies worldwide. The plans are carefully tailored to help travellers who belong to different age groups and their period of staying in a foreign country.

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