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Most Read Specialty Risks News

Farmers Insurance to cover rideshare drivers between fares

Published January 16, 2015 CST

Farmers Insurance Group of Cos. has rolled out a rideshare drivers coverage endorsement in Colorado that addresses the state's new insurance requirements for rideshare services.

Falling oil prices place new emphasis on risk management in energy sector

Published January 18, 2015 CST

The ongoing drop in oil prices is putting new emphasis on risk management in the energy sector as insurers brace for potential market changes.

ADA accommodations go beyond cubicle, ergonomic adjustments

Published January 04, 2015 CST

Employers are used to thinking of ergonomic accommodations under the Americans with Disabilities Act, but an ADA leave of absence is also considered an accommodation. Kevin Curry, national practice leader and senior vice president of sales and marketing at Reed Group Ltd., offers guidance for firms to evaluate employee requests for such leave, as well as how to comply with their obligations under …

Wearable technology boom creates employment liability risks

Published December 21, 2014 CST

Wearable technology already is taking root in the workplace, and experts agree these new devices will have a vast and long-lasting effect on how companies conduct business. Tracy L. Moon Jr., a partner in the law firm of Fisher & Phillips L.L.P., discusses how businesses can be proactive in establishing use and training protocols as this new technology quickly becomes more common.

Risk managers should step up as SEC targets cyber security

Published January 18, 2015 CST

The U.S. Securities and Exchange Commission has sharpened its focus on cyber security preparedness, says Daniel Garrie, co-head of the cyber security practice at Zeichner, Ellman & Krause L.L.P. law firm in New York. Risk managers now have the opportunity to help guide their organizations as they seek to address the vast legal liabilities that are arising from cyber risks.

JLT Specialty Insurance Services adds to energy risk team

Published January 05, 2015 CST

Former energy specialists at Aon P.L.C., Marsh L.L.C. and Lockton Cos. L.L.C. are joining JLT Specialty Insurance Services Inc.’s energy risk team in Houston, the Jardine Lloyd Thompson Group P.L.C. unit said Monday.

Sony hack serves as wake-up call, boosts interest in cyber security protocol

Published January 18, 2015 CST

The cyber attack on Sony Corp. has been a wake-up call for many senior managers nationwide who were not already motivated by earlier hacking events.

Catastrophe modelers developing cyber risk technologies to assess exposures

Published January 04, 2015 CST

In the wake of major cyber breaches that defined 2014, technologies to help risk managers, brokers and insurers better assess and model cyber risks are in their infancy.

Allianz lead reinsurer of missing AirAsia plane

Published December 29, 2014 CST

(Reuters) — Allianz S.E. could be exposed to claims of at least $100 million linked to the AirAsia Bhd. jet missing off the Indonesian coast, which would be the third major airline accident it has been exposed to this year.

Data breach loss capped at $500,000

Published January 27, 2015 CST

A St. Louis-based supermarket chain has a $500,000 cap on how much it must pay for a data breach it suffered in 2012 and 2013, says a federal court in a case filed by the retailer against its payments processor and merchant bank.

Court says misleading manual provides FMLA coverage

Published January 26, 2015 CST

A Michigan county road commission employee was entitled to coverage under the federal Family Medical Leave Act, even though the commission was not obligated to provide the coverage, because of a misleading statement in its employee manual, says an appellate court.

Target’s data breach liabilities mount as credit card issuers’ suit proceeds

Published January 04, 2015 CST

A federal judge's refusal to dismiss litigation brought by credit card issuers against Target Corp. in the wake of 2013's massive data breach is significant and could influence other courts to hold retailers liable in similar cases.

Malaysia Airlines website targeted by hacker group 'Cyber Caliphate'

Published January 26, 2015 CST

(Reuters) — A group calling itself “Official Cyber Caliphate” said it hacked on Monday the official website of national carrier Malaysia Airlines, but the airline said its data servers remained intact and passenger bookings were not affected.

Burns & Wilcox Canada acquires Avec Insurance Managers

Published January 15, 2015 CST

Managing general agent Burns & Wilcox Canada Inc., a unit of Kaufman Financial Group, has acquired Toronto-based MGA Avec Insurance Managers Inc.

Big banks must face currency rigging lawsuit

Published January 29, 2015 CST

(Reuters) — A federal judge on Wednesday said U.S. investors may pursue a nationwide antitrust lawsuit accusing 12 major banks of rigging prices in the $5.3 trillion-a-day foreign exchange market.

D&O liability insurance market remains competitive with ample capacity

Published January 04, 2015 CST

The directors and officers liability insurance market remains a buyers' market, with competitive prices and ample capacity.

Commercial property/casualty market poised for soft cycle: MarketScout

Published January 05, 2015 CST

The commercial property/casualty insurance market could be about to turn soft, according to the CEO of Dallas-based electronic insurance exchange MarketScout.

House passes bill to extend terrorism insurance backstop through 2020

Published January 07, 2015 CST

Moving quickly after the federal terrorism insurance program expired on Dec. 31, 2014, the House of Representatives on Wednesday overwhelmingly approved a bill to extend the terrorism insurance backstop until the end of 2020.

Data breach costs not assessed at most law firms: Survey

Published January 16, 2015 CST

The vast majority of law firms view cyber security as one of the top 10 risks in their overall risk strategy but still have not assessed the potential cost of a data breach, says a survey.

EEOC workplace harassment task force to include employers, worker advocates

Published January 14, 2015 CST

Equal Employment Opportunity Commission Chair Jenny R. Yang announced the creation of a task force to address the issue of workplace harassment during a public hearing on the issue Wednesday.

Fidelis, subsidiary Continental Underwriters form ocean cargo division

Published January 14, 2015 CST

Marine insurance provider Fidelis Group Holdings L.L.C. and its subsidiary Continental Underwriters Ltd. have formed an ocean cargo division, Continental Underwriters said Wednesday.

HIIG acquires Elite Underwriting Services

Published January 16, 2015 CST

Houston International Insurance Group Ltd. has acquired Malvern, Pennsylvania-based Elite Underwriting Services.

Target tries to pin breach costs on credit card issuers in latest legal move

Published January 16, 2015 CST

Credit card issuers themselves are responsible for any losses they sustained as a result of the Target Corp. breach, says the retailer, in a court filing Thursday in response to litigation filed by the financial institutions.

JPMorgan settles foreign exchange price-rigging lawsuit

Published January 05, 2015 CST

(Reuters) — JPMorgan Chase & Co. has become the first bank to settle an antitrust lawsuit in which investors accused 12 major banks of rigging prices in the $5 trillion-a-day foreign exchange market.

EEOC to focus on hiring barriers, pregnancy bias, ADA and wellness in 2015: Report

Published January 05, 2015 CST

Hiring barriers, pregnancy discrimination, required accommodations to the Americans with Disabilities Act, and the question of voluntary participation in wellness programs will be among significant developments related to the U.S. Equal Employment Opportunity Commission in 2015, a law firm analysis says.