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Most Recent Specialty Risks News

Financial institutions identify cyber risk as major concern: Survey

By: Judy Greenwald

Published October 23, 2014 - 1:15pm CST

A total of 84% of global financial institutions identified cyber risk as one of their top five concerns in a third-quarter survey by Depository Trust & Clearing Corp.

Dialysis firm to pay $350M to settle physician kickback charges

By: Judy Greenwald

Published October 23, 2014 - 12:43pm CST

A national dialysis services provider has agreed to pay $350 million to settle a whistleblower lawsuit involving charges that it violated the False Claims Act by paying kickbacks to induce physicians to refer patients to its clinics.

OFF BEAT: ‘Simpsons’ lawsuit claims cartoon imitates ‘Goodfellas’ character

Published October 23, 2014 - 12:13pm CST

If gangster “Louie” on “The Simpsons” cartoon reminds you of someone, you’re not alone.

Japan prosecutors set to rule on possible Fukushima indictments

Published October 23, 2014 - 11:03am CST

(Reuters) — Japanese prosecutors must decide this month whether to charge Tokyo Electric Power Co. former executives for their handling of the 2011 Fukushima disaster, in a process that could drag the wrecked nuclear plant's operator into criminal court.

U.S. Court hears arguments on sex discrimination at Goldman Sachs

Published October 23, 2014 - 7:50am CST

(Reuters) — The Goldman Sachs Group Inc. on Wednesday attacked expert evidence offered by attorneys for former female employees in a U.S. federal sex discrimination lawsuit, arguing there was no pattern of gender-based pay and promotion disparities at the bank.

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?