Business Insurance

Login  |  Register Subscribe



Most Read Specialty Risks News

Restaurant chain Jimmy John's reports data breach at 216 stores

Published September 24, 2014 CST

(Reuters) — Sandwich restaurant chain Jimmy John's said there was a potential security breach involving customers' credit and debit card data at 216 of its stores and franchised locations this summer.

Data breaches prompt insurers to boost cost of retailers' cyber coverage

Published September 28, 2014 CST

Major retailers should expect higher rates and retentions and lower coverage limits for their cyber insurance following several major data breaches since spring 2013.

Your medical record is worth more to hackers than your credit card

Published September 24, 2014 CST

(Reuters) — Your medical information is worth 10 times more than your credit card number on the black market.

Cyber security incident reports increased 48% this year

Published September 30, 2014 CST

The number of cyber security incidents has increased 48% this year, to 42.8 million, or the equivalent of 177,339 incoming attackers per day, according to a PricewaterhouseCoopers L.L.P. survey released Tuesday.

OFF BEAT: Golf teammates carry on toward Ryder Cup despite lawsuit

Published September 25, 2014 CST

Legal wrangling is threatening to drive a wedge between two famous golfers.

Chicago-area air traffic center fire grounds nearly 1,500 flights

Published September 26, 2014 CST

(Reuters) — A fire set by an employee at a Chicago-area air traffic control center led to the cancellation of nearly 1,500 flights at the city's two major airports, snarling air traffic across the nation and globally.

Northeast National Brokers launches Lloyd's underwriter for petroleum industry

Published September 23, 2014 CST

Wholesale broker Northeast National Brokerage L.L.C. said Tuesday it has launched a Lloyd's-registered underwriting facility specializing in excess liability for the petroleum distribution industry that will offer $5 million in capacity for both lead and excess positions.

Software CEO must repay $2.5M under Sarbanes-Oxley clawback rules

Published September 24, 2014 CST

The CEO of Silicon Valley software company Saba Software Inc. has agreed to repay $2.5 million under the Sarbanes-Oxley Act's clawback provision, in a case in which two company vice presidents were charged with running a scheme to falsely record hours worked by its consultants, the U.S. Securities and Exchange Commission said Wednesday.

More companies forming data breach plans, but effectiveness questioned: Study

Published September 24, 2014 CST

While more companies have data breach response plans and teams in place, only 30% of executives rate their firms as effective in developing and executing them, says a study issued Wednesday by Ponemon Institute L.L.C.

Taiwan government investigates Chinese smartphone firm

Published September 24, 2014 CST

(Reuters) — The Taiwanese government is investigating whether Xiaomi Inc., China's leading smartphone company by domestic shipments, is a cyber security threat and will make a decision within three months.

Underwriters seek in-depth information before covering retailers’ cyber risks

Published September 28, 2014 CST

Underwriters are requesting more in-depth information from retailers before agreeing to underwrite cyber risks in light of the recent massive data breaches at The Home Depot Inc. and Target Corp.

Judge rejects settlement over Abercrombie & Fitch CEO pay

Published September 29, 2014 CST

(Reuters) — A federal judge rejected a settlement of a lawsuit challenging longtime Abercrombie & Fitch Co. Chief Executive Michael Jeffries’ pay, saying it offered little benefit to shareholders despite “serious” allegations of wrongdoing.

OFF BEAT: Taxing situation for Jersey Shore celeb Sorrentino

Published September 26, 2014 CST

Mike “The Situation” Sorrentino, star of MTV’s hit TV show Jersey Shore, has found himself in a precarious situation after being accused of failing to pay taxes on $8.9 million in earnings.

EEOC sues two employers over fired transgender employees

Published September 25, 2014 CST

The U.S. Equal Employment Opportunity Commission said on Thursday it has filed gender discrimination lawsuits in Michigan and Florida against employers it says discriminated against transgender employees.

New 'Bash' software bug may pose bigger threat than 'Heartbleed'

Published September 25, 2014 CST

(Reuters) — A newly discovered security bug in a widely used piece of Linux software, known as “Bash,” could pose a bigger threat to computer users than the “Heartbleed” bug that surfaced in April, cyber experts warned on Wednesday.

Wal-Mart blames Tracy Morgan for not wearing seat belt in fatal crash

Published September 30, 2014 CST

Injuries sustained by comedian Tracy Morgan when his limousine was hit by a Wal-Mart Stores Inc. truck were at least partially if not wholly caused by his failure to wear a seatbelt, Wal-Mart said in court papers filed Monday.

Aon sales exec staying put at firm instead of jumping to rival

Published September 30, 2014 CST

John L. Peterson now plans to remain at Aon Risk Solutions as part of its senior leadership team, the broker announced.

Court tosses EEOC suit over equal attorney pay at Port Authority

Published September 29, 2014 CST

The Equal Employment Opportunity Commission claimed that male and female attorneys working at the Port Authority of New York and New Jersey were paid unequally, but failed to analyze their different job duties, says an appeals court, in upholding dismissal of the agency's lawsuit.

GM ignition-switch victims' families to accept compensation offer

Published September 25, 2014 CST

(Reuters) — The families of two victims killed in a General Motors Co. vehicle with a faulty ignition switch will accept offers from a program set up to provide compensation for crash injuries and deaths, a lawyer for the family said on Thursday.

Excess and surplus lines overcapacity drives prices down, diversifies offerings

Published September 28, 2014 CST

ATLANTA — Overcapacity in the excess and surplus lines market is pushing rates down and prompting insurers and brokers to diversify their product and service offerings.

Health care provider settles N.Y. charges of substandard care for $200,000

Published September 25, 2014 CST

A health care company has agreed to pay $200,000 in fines to settle charges of providing substandard care to New York prison inmates, New York Attorney General Eric T. Schneiderman said Thursday.

Auto parts maker Toyoda Gosei settles U.S. price-fixing charge

Published September 29, 2014 CST

(Reuters) — A Japanese auto parts maker, Toyoda Gosei Ltd., has agreed to plead guilty to price-fixing and pay a $26 million fine, the Justice Department said on Monday.

Real estate firm Essex Property reports data breach

Published September 30, 2014 CST

Essex Property Trust Inc., a Palo Alto, California-based real estate investment trust, said that certain of its computer networks containing personal and proprietary information have been breached.

Ames & Gough acquires specialized New England insurance agency

Published September 30, 2014 CST

Specialty broker Ames & Gough has acquired Providence, Rhode Island-based Bixby Insurance Agency Inc., which serves architects and engineers throughout New England, for an undisclosed amount.

General Motors appoints its first cyber security chief

Published September 24, 2014 CST

(Reuters) — General Motors Co. on Tuesday named an engineer to serve as its first cyber security chief as the No. 1 U.S. automaker and its rivals come under increasing pressure to better secure their vehicles against hackers.