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BROKER BEAT Video: Woodruff-Sawyer & Co.

Published October 21, 2014 - 4:42pm CST

Business Insurance Associate Editor Bill Kenealy speaks with Priya Huskins, Senior Vice President of Woodruff-Sawyer & Co., about Bay area D&O buyers, big data and regulation.

China-backed hackers target Apple's iCloud users: Blog

Published October 21, 2014 - 3:16pm CST

(Reuters) — Apple Inc.'s iCloud storage service in China was attacked by hackers trying to steal user credentials, a Chinese web monitoring group said, adding that it believes the Beijing government is behind the campaign.

Starr Cos. expands cyber insurance offerings

By: Judy Greenwald

Published October 21, 2014 - 3:04pm CST

Starr Cos. is introducing primary cyber insurance that provides coverage for both first- and third-party costs, the New York-based insurer said.

Ace excludes Ebola claims for some new and renewal general liability policies

By: Douglas McLeod

Published October 21, 2014 - 2:55pm CST

Ace USA confirmed Tuesday that it will exclude coverage for Ebola claims under new and renewal general liability polices issued to companies that have exposures to certain African countries.

Appeals court clears Nationwide of age and race bias charges

By: Judy Greenwald

Published October 21, 2014 - 2:55pm CST

A federal appeals court has overturned a jury verdict and ruled Nationwide Mutual Insurance Co. is not liable for age and race discrimination charges in connection with its termination of two sales managers.

Product helps small and midsize firms measure cyber attack readiness

By: Joanne Wojcik

Published October 21, 2014 - 2:29pm CST

Information technology solutions provider eManagement Inc. has developed a new tool to help small and midsize businesses measure their readiness to respond to and recover from cyber security attacks.

Staples says probing possible payment card data breach

Published October 21, 2014 - 2:14pm CST

(Reuters) — Staples Inc. is investigating a possible breach of payment card data and has contacted law enforcement about the matter, making it the latest U.S. retailer to become a possible victim of a cyber attack.

Number of risk retention groups falling amid continuing soft market

By: Jerry Geisel

Published October 21, 2014 - 2:05pm CST

Affected by the soft market, the number of risk retention groups continues to fall, according to an industry newsletter.

Possible sunset of federal terrorism coverage backstop concerns insurers

By: Sheena Harrison

Published October 21, 2014 - 1:58pm CST

CHICAGO — The federal terrorism insurance backstop set to expire at the end of this year likely will be replaced or extended, but insurers are worried about workers compensation exposures that could stem from a terrorism event if the backstop goes away, a panel of insurance industry experts said Tuesday.

Property and casualty rates soft, but aviation rates could soar in 2015

By: Matthew Lerner

Published October 21, 2014 - 1:46pm CST

Commercial property and casualty rates will continue to be soft during 2015 as other lines like commercial aviation and in some cases cyber coverage could show strength.

California's Prop 46 could boost medical professional liability rates

By: Mark A. Hofmann

Published October 21, 2014 - 12:18pm CST

Passage of California’s Proposition 46 could result in higher medical professional liability insurance rates, according to a study released by A.M. Best Co. Inc. on Tuesday.

Record claims to boost price of insuring airplanes against attack

Published October 21, 2014 - 11:46am CST

(Reuters) — Insurers worldwide are going to have to pay up to a record $800 million to cover the damage done by attacks on airplanes this year.

OFF BEAT: Art’s value in eyes of the beholder

Published October 21, 2014 - 11:17am CST

Ever wonder who is worth more — the world’s most famous portrait or one of the showbiz world’s power couples?

Two more lawsuits filed against Honda, Takata for air bag defect

Published October 21, 2014 - 11:11am CST

(Reuters) — The recall crisis involving Takata-made air bags exploding with too much force and spraying occupants with metal shrapnel continues to grow, with two more lawsuits filed concerning accidents in older Honda cars.

Western World CEO to retire upon takeover by Validus

By: Matthew Lerner

Published October 21, 2014 - 11:05am CST

Thomas Mulligan will retire as president and CEO of Western World Insurance Group Inc. effective Jan. 1, 2015, following the completion of the firm’s acquisition by Validus Holdings Ltd., on Oct. 2, Western World said in a statement Tuesday.

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