Patent ID: 8914299

Claim:
A system for identifying at least one legal authority related to the insurance industry and tracking procedures responsive to the identified at least one legal authority while monitoring compliance with changed procedures, the system comprising: a processor configured to: identify at least one insurance related legal authority that relates to at least one insurance business area; determine the scope of the at least one insurance related legal authority; and assess the impact of the at least one insurance related legal authority to the related at least one insurance business area, wherein the assessed impact at least includes organizational impact and priority of procedure modification; a memory device configured to store information in a central record that includes: entries indicating information about the at least one insurance related legal authority and the assessed impact on the at least one insurance business area by the at least one insurance related legal authority; and modified procedures of at least one insurance business area that comply with the at least one insurance related legal authority based on the scope of the at least one insurance related legal authority and assessed impact; a display device configured to display communications regarding the modifications to the at least one insurance business area; and a communications interface to record and communicate the modifications to the at least one insurance business area, wherein the at least one insurance related legal authority includes one of an insurance related legislation, an insurance related regulation, a court holding, and a ruling for or against companies and a fine incident, and wherein the modifications to the at least one business area are tracked and monitored for compliance with the changed procedures by comparing the modifications to procedures being performed by the at least one insurance business area.