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Most Recent Specialty Risks News

Insurance sector falls short on addressing climate change: Report

By: Judy Greenwald

Published October 22, 2014 - 1:45pm CST

The insurance industry has shown a “profound lack of preparedness” in addressing climate-related risk and opportunities, says a report on a survey conducted by an advocacy group.

Justice Department to increase focus on cyber threat, economic espionage

By: Judy Greenwald

Published October 22, 2014 - 12:33pm CST

The Justice Department is making strategic changes to put additional focus on the protection of national assets from the threat of state-sponsored economic espionage and proliferation, including through cyberspace.

U.S. government probes medical devices for possible cyber flaws

Published October 22, 2014 - 10:49am CST

(Reuters) — The U.S. Department of Homeland Security is investigating about two dozen cases of suspected cyber security flaws in medical devices and hospital equipment that officials fear could be exploited by hackers, a senior official at the agency told Reuters.

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.

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.

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.

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?

Russia ruled out as culprit in Chase cyber security breach, U.S. officials say

Published October 21, 2014 - 10:57am CST

(Reuters) — The Russian government has been ruled out as sponsor of a cyber attack on JPMorgan Chase & Co. disclosed in August, U.S. law enforcement officials said Monday.

Wall Street urges U.S. regulators' joint cybersecurity approach

Published October 20, 2014 - 4:30pm CST

(Reuters) — Wall Street’s top trade group is calling for the creation of a new inter-agency working group of regulators and the White House that would be tasked with developing consistent cybersecurity rules for the financial industry.

Ironshore expanding into agriculture sector

By: Judy Greenwald

Published October 20, 2014 - 2:07pm CST

Ironshore International, a unit of Hamilton, Bermuda-based Ironshore Inc., said Monday it plans to enter the agriculture sector, offering capacity limits of up to $10 million, with the appointment of a divisional director.

Employee delivery drivers can’t be reclassified as contractors, court rules

By: Stephanie Goldberg

Published October 17, 2014 - 2:10pm CST

Delivery drivers who went from being classified as employees to independent contractors can rely on the California Industrial Welfare Commission's definition of “employee” for claims that fall within the scope of its wage orders, California's 2nd District Court of Appeal ruled.

NAS offers coverage for Ebola-related business closures

By: Stephanie Goldberg

Published October 17, 2014 - 12:46pm CST

NAS Insurance Services Inc. is offering a new insurance program for businesses facing the possibility of government-mandated closure because of the presence of Ebola.