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Most Read Specialty Risks News

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.

United Airlines attendants claim fired over their security concerns

Published January 08, 2015 CST

(Reuters) — A group of 13 flight attendants say they were illegally fired by United Airlines after refusing to fly on a Hong Kong-bound plane last July that had a “threatening” message scrawled under its tail engine, according to a complaint filed with the U.S. Department of Labor.

McDonald's faces civil rights lawsuit from former workers in Virginia

Published January 22, 2015 CST

(Reuters) — Former McDonald's workers in Virginia filed a civil rights lawsuit Thursday against the fast-food chain and owner of restaurants where they worked in the latest bid to hold it legally responsible for the actions of its franchisees.

Marsh, Hiscox executives to join Swiss Re cyber team

Published January 22, 2015 CST

Swiss Re Corporate Solutions on Thursday said it has named former Marsh L.L.C. and Hiscox Ltd. executives to its cyber and technology team.

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.

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.

Drone regulation would create need for liability insurance

Published November 23, 2014 CST

Civilian use of unmanned aerial systems, or drones, is transforming certain industries but current aviation regulations don't effectively address the technology, says Jonathan S. Ziss of law firm Goldberg Segalla L.L.P. Once regulations are in place, a liability framework should emerge that will lead to an increased need for insurance.

Wal-Mart settles with family of comedian killed in Tracy Morgan crash

Published January 23, 2015 CST

Wal-Mart Stores Inc. has reached a settlement with the family of the comedian killed in the crash that seriously injured comedian Tracy Morgan, the retailer said.

XL offers excess professional liability follow-form policy in U.S., Canada

Published January 21, 2015 CST

XL Group P.L.C. has launched an excess professional liability follow-form policy in the United States and Canada.

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.

Seat belt price fixing charges brought against auto parts exec

Published January 22, 2015 CST

(Reuters) — An executive with the Japanese auto parts maker Takata Corp. was indicted on Thursday for conspiring to fix the prices of seat belts sold to carmakers, the U.S. Justice Department said.

S&P settles ratings fraud charges over mortgage-backed securities

Published January 21, 2015 CST

Standard & Poor’s Corp. has agreed to pay a total of about $77 million to settle charges of fraudulent misconduct in its ratings of certain commercial mortgage-backed securities, the U.S. Securities and Exchange Commission said Wednesday.

Johns Hopkins physics lab settles racial discrimination charges

Published January 22, 2015 CST

Johns Hopkins University's Applied Physics Laboratory will pay $359,252 to settle discrimination charges made by two African-American women who worked at its Laurel, Maryland, facility, the U.S. Department of Labor's Office of Federal Contract Compliance Programs said Thursday.

Bank of England calls for lenders to shore up cyber defenses

Published January 23, 2015 CST

(Reuters) — Britain's banks must do more to protect themselves and the wider financial system from growing and evolving cyber crime, the Bank of England said Friday.

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.

Chief risk officers' broad cyber challenges outlined in report

Published January 13, 2015 CST

Companies’ chief risk officers should promote a culture of open communication, increased awareness of cyber risk at senior firm levels, and facilitate discussions and understanding of cyber risk at both the business and board level, says a report on cyber resilience issues.

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 …

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.

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.

Integro acquires bloodstock broker Howard Global Insurance Services

Published December 17, 2014 CST

New York-based Integro Ltd. has acquired London-based Howard Global Insurance Services Ltd., a Lloyd's of London broker that specializes in bloodstock, Integro announced Wednesday.

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.

Better risk management results in cheaper cyber insurance

Published December 07, 2014 CST

Applying a methodical approach to identifying cyber strengths and vulnerabilities at all levels of a company — from administrative to technical — will give a risk manager a strong hand when the time comes to purchase cyber insurance, an increasingly complex endeavor, says attorney Christopher Brubaker of Clark Hill P.L.C.

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.

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.

FTC probe of Verizon holds valuable lessons in cyber security protocol

Published December 07, 2014 CST

Companies can glean valuable guidance from the Federal Trade Commission ending its investigation into the security of Verizon Communications Inc.'s routers should they face such a probe.