Cyber Risk News

A single security breach can trigger multiple coverages

Security breaches are becoming more frequent as businesses increasingly rely on technology to store and transfer assets and sensitive information, such as customer names and credit card numbers. With each security breach, there is the risk that a lawsuit or …

Texas AG Cites RadioShack for Failing to Protect Customers from ID Theft

Texas Attorney General Greg Abbott has taken legal action against Fort Worth-based RadioShack Corporation for exposing its customers to identity theft. According to documents filed by the AG on April 2, 2007, RadioShack violated a 2005 law requiring businesses to …

Euclid’s BusinessWare Packages Liability for Service Professionals

Euclid Managers, LLC, an underwriting manager based in Kansas City, announced a new insurance product for service professionals. This new product, BusinessWare, packs a variety of professional liability coverages into one policy form. Some of the built-in protections include errors …

Declarations

Auto No Fault “This bill would benefit a small group of citizens and a large group of attorneys, while driving up the costs for many.” Rep. Fulton Sheen, a Republican from Plainwell commenting on a bill that would change who …

The New Frontier

Information technology companies may explore the new frontier everyday, but do they know where their exposures lie? Will they be ready for the next big liability risk close encounter? “Owners and or creators of IT companies are inherently creative and …

The New Frontier: Hidden exposures and brewing claims in the tech liability field

Information technology companies may explore the new frontier everyday, but do they know where their exposures lie? Will they be ready for the next big liability risk close encounter? “Owners and or creators of IT companies are inherently creative and …

My New Markets

Motorcycle Program Nuts & Bolts: Arrowhead General Insurance Agency Inc.’s Personal Lines Division has expanded its motorcycle program to Pennsylvania. Coverage is being provided by a carrier rated “A-” by A.M. Best. Coverages range from $15,000/$30,000 to $100,000/$300,000. There is …

Workers’ Comp, Identity Theft Bills Pass Texas House

Texas State Rep. Helen Giddings announced that four bills she sponsored that deal with workers’ compensation and identity theft passed the House of Representatives and will proceed to the Senate. The first of the four bills to pass, HB 886, …

ACE Survey Shows Data Loss is Top Operational Risk Threat

One in three global businesses see loss of data as a significant threat and the key issue to address in operational risk management planning, according to the latest global risk briefing report conducted by the Economist Intelligence Unit (EIU) and …

Fireman’s Fund Introduces Data Compromise Coverage

Fireman’s Fund Insurance Company has introduced Data Compromise, a coverage and service solution for businesses that provides legal consulting, customer notification services and credit monitoring as well as identity restoration for customers, employees and others affected by a data breach. …