Cyber Risk News

Business Moves

Texas Farmers Insurance Company Texas Farmers Insurance Company filed a rate increase for its “Texas Family Home Policy” with the Texas Department of Insurance. The increase would impact 200,000 customers or approximately 35 percent of Farmers’ homeowners customers in the …

ACE Launches DataGuard plus for UK Business

The ACE European Group announced the launch of Dataguard plus, an insurance solution for UK businesses which fully reflects the diversity of risks associated with e-commerce and the Internet. ACE said the Dataguard plus policies provide “coverage for both first …

Willis CEO: ‘Price is an Issue in the Absence of Value’

Willis Chairman and CEO Joe Plumeri concluded a series of discussions on mega-trends in the insurance industry sponsored by the Insurance Institute of London (IIL) at Lloyd’s last week. He told his audience that “one of the biggest challenges facing …

Washington Legislators Address Identity Theft

Washington’s Legislature ended its regular session last week, passing, among others, bills that affect identity theft. SB 5878 Assisting ID theft victims requires police to file police reports for victims of identity theft to help them clear their names and …

Lloyd’s on ‘Cyber Risks’

Tom Sheffield, Technical Director at Aon, pointed out that businesses are typically at ease with physical security systems, but when it comes to online matters there appears to be a lack of knowledge. Companies must think outside the box and …

State Auto Rolling Out Personal Insurance Products in Texas

The State Auto Insurance Companies said it will begin offering personal insurance products in Texas on March 15, less than a year after the Columbus, Ohio-based insurer acquired Beacon Insurance Group of Wichita Falls. State Auto’s personal insurance products include: …

Identity Theft, Privacy Addressed in Bill Passed by Okla. Senate

Legislation aimed at preventing identity theft and protecting the privacy of Oklahoma’s citizens has passed the Oklahoma Senate. Senate Bill 1745, sponsored by Sen. Randy Bass, D-Lawton, won unanimous approval. The legislation seeks to end the practice of electronically swiping …

Insurance Among Washingtonians’ Top 20 Complaints

Washington consumers filed 19,686 complaints with the Attorney General’s Office in 2007, with insurance ranking among the top 20 complaints. Complaints about collections agencies climbed to the No. 2 spot, bumping retailers, who held that ranking since at least 2001, …

Federal Agencies Still Lacking Identity Theft Protections, Says Report

Nearly two years after an embarrassing flap in which veterans’ personal information was put at risk of identity theft, federal agencies are still not doing all they can to prevent further lapses, investigators have found. Most of the two dozen …

$500K Grant Goes to Assist Maryland ID Theft, Crime Victims

A crime victim’s assistance group will help those harmed by identity theft and fraud under a $500,000 grant announced Thursday. The Maryland Crime Victims Resource Center plans to use the money to provide direct assistance to victims, work with law …