Security risk

Zurich announced the release of Zurich Pro Plus, an enhanced Errors & Omissions (E&O) coverage to address the needs of a broad range of business professionals, including consultants, and media and information technology customers.

A.M. Best http://www.ambest.com, Fitch Ratings http://reports.fitchratings.com, Moody’s Investors Service http://v3.moodys.com/Pages/default.aspx and Standard & Poor’s (S&P) http://www.standardandpoors.com/home/en/us released ratings updates. The following are some of the most recent:

Christopher Swift, previously vice chairman and CFO at American Life Insurance Co. (ALICO), an operating company of American International Group (AIG) with $89 billion in assets and operations in 54 countries, will join The Hartford Financial Services Group Inc. as EVP and CFO. Effective March 1, Swift, a 27-year insurance industry veteran, will replace Lizabeth Zlatkus, who will assume the chief risk officer role at The Hartford.

Toronto-based Manulife Financial Corp. announced that it has decided to establish separate audit and risk committees that will be populated by board members.

The Risk and Insurance Management Society Inc. (RIMS) says pay-disclosure rules created by the New York Insurance Department are insufficient to protect consumers and urged the department to reopen a period of public comment on the proposal.

Much has changed in the use of standards and technology during the past four years, and the Association for Cooperative Operations Research and Development, (ACORD), Pearl River, N.Y., intends to confirm how those changes are affecting efficiencies in the insurance industry.

At a time when drivers and their habits—especially in regard to cell phone usage—are under a microscope, The Allstate Foundation released information regarding the behavior and attitude of teenage drivers.

Google Buzz users went nuts when their contacts were assembled without their consent, but other social media users are only too happy to air every piece of dirty laundry in their baskets to anyone who will listen.

Forrester report finds insurance providers among top industries in ranking of customer service interactions.

Insurers look to new crop of quality mortgages to offset losses on loans made during the bubble years, but dealing with tougher underwriting standards.

Celent recognizes carrier’s use of analytics technology to identify cases of fraud that may be abnormal, or too hard to spot with the human eye.

The Independent Insurance Agents & Brokers of New York says it will not “sit back idly and let the department impose an unnecessary rule that will only serve to add another time-consuming and costly requirement for our members.”

Insurer to offer free identity theft consultation and restoration services after hard drives containing protected health information on at least 521,761 members were stolen.

Sen. Bob Corker, like Sen. Shelby, opposes letting consumer protections trump safety and soundness, and objects to creating a separate protection agency.

A.M. Best revises CNA Insurance Co.’s outlook to stable from negative and upgrades Farmers Mutual Insurance Co.’s financial strength rating.

A new study from IBM suggests that data governance is critical, but actions based on data are unique.

Priorities through 2012 include a focus on underwriting discipline, risk management and gearing up for Solvency II.

The Property Casualty Insurers Association of America and the Insurance Information Institute were among the organizations urging reform.

Complaint alleges recently departed workers conspired to misappropriate Liberty’s trade secrets.

S&P cites acquisition of Burlington Northern Santa Fe Corp. in downgrade.