Security risk

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.

Elementum will utilize CATRADER and ALERT to manage risks associated with its portfolio of cat bonds and other insurance-linked securities.

Experts say the best way to address systemic risk is by providing the regulatory community with direct access to a database that contains all firms’ networks of financial information.

Lawmakers set to unveil bill that will strip some insurers of protections enjoyed under McCarran–Ferguson Act.

Both federal and state governments are looking to crack down on unsafe practices.

A panel of four C-level insurance executives agree: the economic crisis has changed the competitive landscape. Just what they intend to do about it is another matter.

Statements made last week during congressional testimony rekindle debate about insurance regulation.

TARP-driven BI discourages behavior that focuses on short-term results at the expense of value creation and innovation in the long run.

Of the many cuts included within the Obama administration’s proposed annual budget, terrorism risk insurance remains a hot button issue, as the insurance industry reacts to news that changes to the Terrorism Risk Insurance Act would include lower subsidies and higher deductibles and co-payments. Additionally, the proposal would remove any coverage for attacks by domestic terrorists, according to the Wall Street Journal (www.wallstreetjournal.com).

XL Insurance, a unit of Bermuda-based XL Capital Ltd., reports that Patrick Tannock, a veteran Bermuda-based insurance executive, will assume the role of president effective Feb. 22.

A trio of risk managers weigh in on creating a culture of risk awareness.