Cyber Risk News

Security Breach Notification Laws Reinforce Need for Cyber Insurance

With more than 40 states now enforcing privacy and security breach notification laws, underwriters are working hard to scoop up the business this niche creates, while also tweaking their policy forms to provide the broadest and most comprehensive coverage. Over …

CNA Enhances its College and Universities Program

CNA has expanded education appetite with several product enhancements to its program for colleges and universities. The insurer’s appetite now includes for-profit private schools, universities and community colleges with an enrollment of 10,000 students or less. This expansion comes six …

Insurance Agents Fined for Not Having Written Security Plans

Recent headlines underscore the importance of agents having written security plans to protect the privacy of their clients’ personal information. In the first case, the Virginia Bureau of Insurance fined an agent $1,000 in September for not having a written …

Travelers Construction Insurance Offers Wrap+ Fidelity and Crime

Travelers Construction Insurance and Travelers Bond & Financial Products have teamed together to offer the Wrap+ Fidelity and Crime coverage to the construction industry. The policy will help protect construction contractors’ assets from internal theft. According to the 2008 Report …

It Figures

$35,200 The reduced fine issued to Walt Disney World by OSHA for a serious violation that contributed to the death of a 21-year old worker during a summer monorail accident last July. 11.7% The latest rate increase on homeowners policies …

Louisiana Agent Accused of Insurance and Bank Fraud

The Louisiana Department of Insurance says a Baton Rouge agent has been served with two cease and desist orders, and two fine notices, for alleged insurance fraud, bank fraud, issuing worthless checks, filing false public records, felony theft and identity …

Main Street America Launches New Business Owners Policy

The Main Street America Group launched its new Main Line Business Owners Policy (BOP) property and liability product. The insurer also launched Main Street Station for commercial lines quoting and policy issuance system in Maine, Rhode Island, Vermont and South …

Hard Drive Thefts Cost Tennessee Insurer $7 Million

BlueCross BlueShield of Tennessee says the theft of computer hard drives containing personal information on hundreds of thousands of members has already cost the insurer more than $7 million. The insurer has already contacted 220,000 members in Tennessee and elsewhere …

U.S. Businesses Face Increasing Threats From Chinese Cyber Attacks

U.S. businesses and government agencies are facing increasing risks of potential cyber attacks from China, according to a recent report. And IT departments that react defensively to such attacks may not be doing enough to prevent a “long term, sophisticated …

New Markets

The following markets were selected from the MyNewMarkets database of 25,000 coverages and programs. To find additional markets, or to submit markets, go to www.MyNewMarkets.com. Home Builders & Artisans Contractor’s GL Market Detail: Northern Star Management offers access to a …