Cyber Risk News

It Figures

$1 Million Amount earned by participants in an alleged Philadelphia insurance fraud scheme involving former police officers, doctors, lawyers and others. Police say the scheme, which involved staging auto accidents, used six claimants per vehicle to maximize claim and settlement …

HSB Offers Data Compromise Coverage for Small to Mid-Size Firms

The Hartford Steam Boiler Inspection and Insurance Co. has a new data compromise insurance coverage that helps businesses respond to data breaches by covering the cost of client notifications and supplying services such as credit monitoring and identity restoration for …

Connecticut Labor Agency Reports Losing Unemployment Files

Connecticut labor officials say records with confidential information on about 2,100 people have been lost and might have been mistakenly shredded. The files contained copies of letters informing applicants that they were ineligible for the unemployment insurance. They were dated …

Bank of N.Y. Works with Connecticut on Security Breach

Connecticut Attorney General Richard Blumenthal asked the Bank of New York Mellon Wednesday to explain how it lost computer tapes containing the information of more than 4 million customers. The bank told the state that a box with back up …

Howden Launches U.S. Wholesale Brokerage Division in Miami

Miami-based Howden, specialist liability broker and part of the global insurance group Hyperion, launched a new wholesale brokerage division. Howden Broking Group’s Miami office will offer brokers a global network of offices and specialist liability and crime products including: professional …

N.J. Mandates Safety Reviews for Facilities with Hazardous Chemicals

For many visitors, the first glimpse of New Jersey is a string of industrial plants and refineries in a sea of yellow light along the Turnpike. With the state’s most hazardous chemical facilities so close to its most traveled routes …

Fraud Roundup

Auto Fraud Suspect Arrested A Desert Hot Springs, Calif., resident was arrested for allegedly defrauding his insurance company of $26,000, the California Department of Insurance reported. Robert Andrew Nelson was arrested in Cathedral City, Calif., on charges of filing a …

ACE USA Expands Professional Insurance Products to Public Officials

ACE USA reported that it has expanded its professional risk insurance product offerings to include a stand-alone, admitted (in 40 states) policy for elected and appointed officials at various levels of government. The ACE Municipal Advantage Public Entity Liability Policy …

Oklahoma AG Warns of Fraud in Storm-Damaged Areas

Oklahoma Attorney General Drew Edmondson’s office is warning consumers in areas battered by recent storms to beware of fraudsters seeking to take advantage of storm weary property owners. Investigators in the AG’s Consumer Protection Unit are in northeastern Oklahoma offering …

NAS Insurance Services Offers Network-Related Coverage

Encino, Calif.-based NAS Insurance Services is introducing a new NetGuard Plus Insurance that covers network-related exposures. NetGuard Plus now includes network security liability insurance covering allegations of breach of privacy, libel, identity theft, slander, defamation, etc. In addition, the policy …