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Most Read Specialty Risks News

'Moving beast' of cybercrime will provide insurers challenges in 2015

Published December 16, 2014 CST

Insuring cyber risks will be one of the biggest challenges facing insurers next year, says Ernst & Young L.L.P., in an analysis issued by its London unit Tuesday.

Electronic payment intermediary Charge Anywhere reports data breach

Published December 15, 2014 CST

Charge Anywhere L.L.C., a firm that operates as an intermediary between retailers' point-of-sale systems and their payment processors, has reported that an unauthorized hacker may have had access to its consumer data.

Construction trade group loses appeal on Labor Department disability rules

Published December 15, 2014 CST

The federal appeals court in the District of Columbia has refused to agree with a construction trade group's objections to U.S. Department of Labor regulations that call for strengthening affirmative action programs to hire disabled workers, labeling the group's challenge “arbitrary and capricious.”

Alliant acquires New York employee benefits provider

Published December 11, 2014 CST

Specialty insurance broker Alliant Insurance Services Inc. on Thursday announced it has acquired New York-based employee benefits provider The Camps Group L.L.C.

Obama vows U.S. response to North Korea over Sony cyber attack

Published December 19, 2014 CST

(Reuters) — President Barack Obama vowed that the United States will respond to the devastating cyber attack on Sony Pictures Entertainment Inc. blamed on the North Korean government.

Alaska tech firm to pay $2.5M in bribery and kickback scheme

Published December 16, 2014 CST

An Alaska technology firm has agreed to pay $2.5 million to settle False Claims Act and Anti-Kickback Act charges that two of its units submitted false claims to the U.S. Army Corps of Engineers, the Justice Department said Monday.

Drone downer: Will new FAA rules ground recreational fliers?

Published December 15, 2014 CST

(Reuters) — Americans shopping for toy remote-controlled airplanes or helicopters may find, sometime in the near future, that they come with unexpected accessories: A raft of new regulations.

New England pharmacists face murder charges over meningitis outbreak

Published December 17, 2014 CST

The head and supervisory pharmacists at New England Compounding Center Inc. have been indicted on second-degree murder charges in seven states.

XL expands D&O cover for investigation expenses

Published December 15, 2014 CST

XL Group P.L.C. on Monday launched a directors and officers liability coverage form that extends coverage to include expenses related to regulatory and law enforcement investigations.

Sony cancels N. Korea movie in apparent win for Pyongyang hackers

Published December 18, 2014 CST

(Reuters) — Sony Pictures has canceled the release of a comedy on the fictional assassination of North Korea's leader, in what appears to be an unprecedented victory for Pyongyang and its abilities to wage cyber-warfare.

U.S. weighs response to Sony hacking attack blamed on North Korea

Published December 18, 2014 CST

(Reuters) — The United States was considering possible options on Thursday in response to a major cyber attack on Sony Pictures blamed on North Korea, amid calls for tougher sanctions on Pyongyang to cut it off from the global banking system.

Ex-Sony employees sue, claim company failed to protect personal data

Published December 17, 2014 CST

(Reuters) — Sony Pictures Entertainment Inc. has been sued by two former employees who accuse the studio of failing to protect Social Security numbers, salaries and other data from computer hackers who attacked it last month.

Deere to sell crop insurance business to Farmers Mutual Hail

Published December 18, 2014 CST

Deere & Co. said Thursday it has reached a definitive agreement to sell its crop insurance business to West Des Moines, Iowa-based Farmers Mutual Hail Insurance Co. of Iowa.

Ransomware hacks an emerging risk for companies

Published December 19, 2014 CST

SINGAPORE — “Ransomware,” a type of hack whereby a company's employees innocently click on a malware link that apparently originates from inside the company and a message appears saying all of a company's data will be encrypted and inaccessible unless a ransom is paid, has so far been confined to a large extent to Australia, a Microsoft Corp. security executive said.

N.Y. extends fracking ban after health report

Published December 17, 2014 CST

(Reuters) — New York state will ban hydraulic fracturing after a long-awaited report concluded that the oil and gas extraction method poses health risks, Gov. Andrew Cuomo’s administration said on Wednesday.

Staples says breach may have affected 1.16 million payment cards

Published December 19, 2014 CST

(Reuters) — Office equipment supplier Staples Inc. said the investigation of a data security breach showed that malware may have affected about 1.16 million payment cards.

How the NLRB may expand responsibility for labor violations

Published December 17, 2014 CST

(Reuters) — The National Labor Relations Board is expected to rule soon on if, and how, companies can be held responsible for labor violations carried out by their contractors or franchisees — a move that could have far-reaching implications for businesses.

Seattle police investigating threat close to Amazon.com HQ

Published December 15, 2014 CST

(Reuters) — Seattle police are investigating an unspecified threat close to Amazon.com’s headquarters in the South Lake Union neighborhood of the city, authorities said on Monday.

OFF BEAT: Heavy machinery mishap can’t stop love

Published December 17, 2014 CST

While some people fall head over heels in love, a man in Amsterdam toppled over in a construction crane while attempting an extreme wedding proposal.

Sony Pictures warns staff on fraudsters misusing stolen data

Published December 16, 2014 CST

(Reuters) — Sony Pictures Entertainment advised its current and former employees to be on the alert for fraudsters looking to use their stolen data, which included detailed personal information.

OFF BEAT: Bank gets the message after hundreds of robocalls

Published December 15, 2014 CST

An ill-timed robocall can foul anyone’s mood, but for one couple, there was a pleasant payoff in the end, albeit hundreds of calls later.

U.S. fears Sony hackers may never be caught: law enforcement official

Published December 17, 2014 CST

(Reuters) — Government investigators fear the hackers behind the unprecedented attack on Sony's Hollywood studio may never be caught if they are under the protection of North Korea, a U.S. official said on Wednesday.

E.U. urged to use automation to protect underground Internet systems

Published December 17, 2014 CST

European Union member states should consider the benefits of automated information systems to prevent damage to their underground Internet infrastructures, the European Union Agency for Network and Information Security said in a report.

Hiscox USA expands professional liability insurance products

Published December 03, 2014 CST

Hiscox USA has expanded its Hiscox Pro package of professional liability products to include admitted policies, stand-alone general liability coverage and extended home health care coverage, the insurer announced Tuesday.

XL offers insurance for risks from chemical, nuclear and other weapons

Published December 19, 2014 CST

XL Group P.L.C. has launched a liability insurance product covering chemical, biological, radiological and nuclear weapons events.