Cyber Risk News

N.J. Gives Green Light to Credit Scoring

New Jersey insurance officials, after reviewing their own test and the results in other states, have decided to permit the use of credit scores in the rating of private passenger auto policies by all insurers. Last year, the Department of …

ACE USA Unveils International Kidnap, Ransom Coverage for Companies Operating Overseas

ACE USA, the U.S.-based retail operating division of The ACE Group of Companies, has introduced Kidnap & Ransom coverage for companies that have international operations, as well as those that have employees who travel overseas. The new coverage provides companies …

FLORIDA CFO PROMOTES LEGISLATION TO PREVENT ID THEFT:

Florida Chief Financial Officer Tom Gallagher recently unveiled a proposal to require financial institutions, brokerages, insurance companies and agencies to use greater care when they dispose of consumer records containing personal, financial and medical information. In the past year, the …

COLORADO SENATE PASSES NCOIL INSURANCE SCORING LEGISLATION:

The Colorado Senate passed legislation, SB 216, that follows the National Conference of Insurance Legislators (NCOIL) credit-based insurance scoring model act. “This legislation provides lawmakers a positive alternative to banning insurers’ use of credit information in personal lines insurance,” said …

Worker Pleads Guilty in Work Comp Case

A 25-year-old Central Washington man, Fernando Palestino, has pleaded guilty in Chelan County Superior Court to first-degree theft, second-degree perjury and first-degree identity theft after he was caught working at a variety of jobs while he was collecting workers’ compensation …

NAIW Dallas to Present Cyber Crime Class

NAIW Dallas Inc. announced they are sponsoring NAIW’s newest education programβ€”Cyber Crime: The Hidden Exclusions. The program was developed exclusively for NAIW, will take place May 28 in Dallas at the Wyndam Garden Hotel. NAIW Dallas said it is the …

Colorado Senate Passes NCOIL Scoring Legislation

The Colorado Senate passed legislation (SB 216) on April 5 that follows the National Conference of Insurance Legislators (NCOIL) credit-based insurance scoring model act. “This legislation provides lawmakers a positive alternative to banning insurers’ use of credit information in personal …

Fla. Arrests Four for Identity Theft, Racketeering; Final Tally Could Surpass $1 Million

Florida Attorney General Charlie Crist and Kissimmee Police Chief Mark Weimer announced the arrests of four individuals following an investigation into an identity theft ring. Michael Townsend and Gregory Gaffney, both of Kissimmee, Karen Looney of Davenport and Eugenia Kennedy …

Fla. CFO Promotes Legislation to Prevent ID Theft

Florida Chief Financial Officer Tom Gallagher on Monday unveiled a proposal to require financial institutions, brokerages, insurance companies and agencies to use greater care when they dispose of consumer records containing personal, financial and medical information. In the past year, …

Florida Agents, Residents Grow; Workers’ Comp System Seeing Reforms

With both agents and residents flocking to Florida, the Sunshine State is on the move. Florida Chief Financial Officer Tom Gallagher, who oversees insurance matters in the state, recently set aside time to talk with Insurance Journal Southeast regarding some …