Cyber Risk News

BOPs deliver more now than in the old days

The business owner policy (BOP) of today is not the BOP of yesterday, industry experts agree. When the first BOP coverage was introduced in the late 1970s, it was mostly utilized by direct writers whose niche in the insurance market …

Data breaches expose businesses while highlighting need for coverage

New data compromise coverage helps businesses respond when data loss occurs The breach of personal data stored in business files and computers is a serious risk for any company that controls the information. Customers and employees may become the victims …

LAAA Leaders Launch Lawsuit Against Choicepoint

Two insurance producers, also board of directors for the Latin American Agents Association (LAAA), have filed a class action lawsuit against Choicepoint Inc. alleging, among other things, that the company routinely sells customer data despite assuring that privacy will be …

TJX Security Breach Settlement Includes ID Theft Insurance

The TJX Companies has agreed to a settlement of class action lawsuits filed after a massive security breach involving customer data. A statement on the company Web site says the proposed settlement includes three years of credit monitoring along with …

Identity Theft Concerns Continue with Computer Tape Stolen in Ohio

A computer backup tape stolen from a state worker’s car in June contained the personal information of more than 500 county workers from Minnesota. Insurance Journal reported on the theft earlier this year. It was learned that information from out-of-state …

Making the case for Internet liability coverage

There has been very little in the history of the world that has revolutionized society so greatly and as quickly as the Internet. The Internet has allowed anyone and everyone with access to a computer to obtain information from anywhere …

Fraud Roundup

Everett man gets three years for arson A man who admitted torching a friend’s grocery store in Everett, Wash., in a plan by the two to collect insurance has been sentenced to three years in prison. Naveed Khan, 25, of …

Making the case for Internet liability coverage

There has been very little in the history of the world that has revolutionized society so greatly and as quickly as the Internet. The Internet has allowed anyone and everyone with access to a computer to obtain information from anywhere …

Fraud Roundup

Everett man gets three years for arson A man who admitted torching a friend’s grocery store in Everett, Wash., in a plan by the two to collect insurance has been sentenced to three years in prison. Naveed Khan, 25, of …

Lloyd’s Dinner Features Lord Levene, NATO Head on Global Concerns

Lloyd’s held its fifth “Annual City Dinner” on Wednesday night, Sept. 5. A cross section of business and government leaders in attendance heard from Lloyd’s Chairman Lord Levene and the Secretary General of NATO Jaap de Hoop Scheffer. In his …