Security risk

Jason Cole will join MetLife as VP of federal government relations as of Aug. 22, 2013. He will report to Heather Wingate, head of federal and state lobbying.

The vast majority of financial institutions do not believe their data technology is very effective, according to a global risk survey from Deloitte.

AIG and Principal are making moves to limit their proprietary trading and investments, attempting to appease regulators just as MetLife, The Hartford and Allstate have done before them.

By a wide margin, California led in luxury car thefts from 2009 to 2012, according to the National Insurance Crime Bureau.

Steven Zabel, former SVP of long-term care insurance, CFO of insurance products and SVP of audit for Genworth, will oversee Unum's enterprise risk management program.

Lack of confidence comes from not understanding their company’s exposure to operational, regulatory/compliance or financial risk, according to recent survey results.

As fraud prevention technologies become more sophisticated, insurers need to invest at every customer touch point to achieve increased revenue growth, according to new research from Ovum.

The second quarter of 2013 saw $2.2 billion of non-life catastrophe bonds issued through 14 tranches (representing 10 deals), compared with $2.1 billion issued in the same period last year, with 12 tranches (representing 7 deals), according to Willis Capital Markets & Advisory (WCMA), part of Willis Group Holdings.

New Enterprise 12.2 software includes iPad app and Risk Goggles, which are used to assess the risks and damages of various weather conditions.

Insurers included on the Financial Stability Board's list of global systemically important insurers (G-SIIs) could see a modest improvement in their credit profiles due to the higher risk and capital management standards imposed on them, according to Fitch Ratings.

American International Group Inc. and Allianz SE are among insurers deemed systemically important by global financial rule makers, meaning they may face tougher capital standards and tighter regulation.

Minnesota Department of Commerce finds agents’ dismissal for failing to achieve sales quota violates state laws.

Cognizant, a provider of IT, consulting and business process outsourcing services, and XL Group, a global P&C, professional and specialty insurer, announced a mobile-enabled risk-engineering platform for Global Asset Protection Services (GAPS), XL Group’s property loss prevention services business.

Aetna, Empire BlueCross BlueShield and 15 other insurers set to participate in New York’s Health Benefits Exchange.

The decision announced last week by the Financial Conduct Authority (FCA) to conduct a market study of add-on financial products is raising one or two eyebrows within the industry.

New capabilities designed to enable an improved view of risk, regulatory requirements, and assist companies in investment decision-making.

Sixty-eight percent of financial services firms say that their industry is now riskier or just as risky as it was in 2007, according to the “2013 Makovsky Wall Street Reputation Study,” which was conducted by Echo Research.

Despite recent crash of Asiana B777 aircraft, rating levels continue to decline and premium levels are down 5 percent on the year.

Clients and brokers are being provided with access to ACE's platform for electronic delivery of policies.

Continued pressure on underwriting results and a low interest rate environment motivated underwriting management to seek these higher rates, according to the “2013 RIMS Benchmark Survey.”