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Most Recent Specialty Risks News

Canadian charged in 'Heartbleed' attack on tax agency

Published April 16, 2014 - 2:17pm CST

(Reuters) — Canadian police have arrested a 19-year-old man and charged him in connection with exploiting the "Heartbleed" bug to steal taxpayer data from a government website, the Royal Canadian Mounted Police said Wednesday.

ISO online pricing tool caters to excess and surplus market

By: Bill Kenealy

Published April 16, 2014 - 1:25pm CST

Jersey City, N.J.-based Insurance Services Office Inc. on Wednesday unveiled ISO Rapid Valuator, a new pricing tool for commercial excess and surplus insurance underwriters.

Starr Indemnity & Liability added to Treasury list of surety companies

By: Bill Kenealy

Published April 16, 2014 - 12:39pm CST

New York-based Starr Cos. on Wednesday said its Starr Indemnity & Liability Co. has been added to the list of approved surety companies by the U.S. Treasury Department.

Cyber risks lurk far beyond organizations' own walls: Report

By: Mark A. Hofmann

Published April 16, 2014 - 11:39am CST

WASHINGTON — Current cyber risk management does not give much consideration to “digital distant perfection” — the aggregation of cyber risks that can lie far beyond an organization's own four walls.

Patent firm RPX gets OK to act as Lloyd’s of London coverholder

By: Sarah Veysey

Published April 16, 2014 - 9:44am CST

Patent risk management solutions company RPX Corp. has received approval to act as a coverholder at Lloyd’s of London, RPX announced Wednesday.

Hull and liability aviation rates down 10% at renewals: Aon

By: Sarah Veysey

Published April 16, 2014 - 9:23am CST

Rates for lead hull and liability aviation insurance fell by an average of 10% during renewals that took place in 2013, according to a report published Wednesday by Aon P.L.C.

OFF BEAT: Elvis estate all fired up over firearms marketing ploy

Published April 15, 2014 - 9:52am CST

A gunmaker’s new Elvis-based marketing campaign has left the King’s heirs all shook up.

Canada taxpayer data stolen in Heartbleed breach

Published April 14, 2014 - 2:57pm CST

(Reuters) — Canada's tax-collection agency reported on Monday that the private information of some 900 people had been stolen from its computer systems as a result of vulnerabilities caused by the Heartbleed bug.

U.S. retailers plan to share cyber threat data after Target attack

Published April 14, 2014 - 2:40pm CST

(Reuters) — U.S. retailers are planning to form an industry group for collecting and sharing intelligence about cyber security threats in the wake of last year's big attack on Target Corp.

Northwestern NLRB student-athlete ruling spotlights school employment practices

By: Matt Dunning

Published April 13, 2014 - 6:00am CST

Northwestern University's exposure to employment practices liability could broaden significantly even as it battles with the National Labor Relations Board over whether scholarship student-athletes qualify as employees.

Private colleges' employment policies pressured by Northwestern NLRB ruling

By: Matt Dunning

Published April 13, 2014 - 6:00am CST

Private universities worried that their scholarship student athletes might follow Northwestern University football players' lead should re-evaluate their policies, experts say.

Marine insurers prepare to cover huge cargo shipments as Panama Canal expands

By: Sarah Veysey And Bill Kenealy

Published April 13, 2014 - 6:00am CST

The ongoing multibillion-dollar expansion of the Panama Canal carries a host of risks for the marine insurance industry as larger and higher valued ships will travel the 50-mile waterway with much bigger loads.

COMMENTARY: Companies must be wary of too much disclosure via social media

By: Gavin Souter

Published April 13, 2014 - 6:00am CST

As a regular viewer of the TV show “Downton Abbey,” I was interested to read a couple of weeks ago about series writer Julian Fellowes upbraiding the cast for careless use of social media.

NLRB keeps an eye out for employer backlash on workers' social media posts

By: Judy Greenwald

Published April 13, 2014 - 6:00am CST

Unionized and nonunionized employers alike must avoid disciplining workers for any social media postings that touch on general work conditions or risk an adverse ruling from the National Labor Relations Board.

SEC warns firms to be cautious about disclosing information over social media

By: Judy Greenwald

Published April 13, 2014 - 6:00am CST

The U.S. Securities and Exchange Commission and the Federal Trade Commission are among the federal agencies that pay particular attention to businesses' use of social media.

Social media can provide hackers with access to corporate computer systems

By: Bill Kenealy

Published April 13, 2014 - 6:00am CST

Social media, which already pose a series of risks for companies, have become the darling of hackers trying to gain access to corporate computer systems.

Using online information against employees and applicants carries legal risks

By: Judy Greenwald

Published April 13, 2014 - 6:00am CST

Employers that use information obtained from social media to discipline an employee or evaluate a job applicant run the risk of violating state and federal laws, yet there are circumstances in which employers' use of such information is legally defensible.

Online privacy violations fall under employment practices liability coverage

By: Judy Greenwald

Published April 13, 2014 - 6:00am CST

Most litigation that alleges employers have breached workers' or job applicants' privacy by accessing or using online information about them would fall under firms' employment practices liability insurance, experts say.

School district would have to lay off teachers to comply with EEOC: Attorney

By: Judy Greenwald

Published April 11, 2014 - 2:56pm CST

A school district would have had to lay off school teachers to comply with U.S. Equal Employment Opportunity Commission demands in an age discrimination charge filed against it because of its early retirement incentive plan, says the district's attorney.

U.S. charges 9 in international hacking conspiracy; 2 extradited from U.K.

Published April 11, 2014 - 2:49pm CST

(Reuters) — Nine people have been charged in an alleged international conspiracy that used malicious software to gather bank account details and use the information to steal millions of dollars, including from accounts held at a Nebraska bank, the Department of Justice said on Friday.

FedEx has $5M in primary coverage for deadly California truck-bus crash

By: Judy Greenwald

Published April 11, 2014 - 2:17pm CST

FedEx, whose tractor-trailer reportedly crossed a center divide on Thursday, slamming into a chartered bus carrying high school students and killing 10 people, has a $5 million combined single limit policy with Protective Insurance Co.

OFF BEAT: British cops warn drivers to keep their pants on

Published April 11, 2014 - 2:10pm CST

Police in the English county of Surrey are citing a recent case in warning motorists about the risks associated with what might be the ultimate example of distracted driving: sexual activity behind the wheel.

U.S. government says hackers trying to exploit Heartbleed bug

Published April 11, 2014 - 12:26pm CST

(Reuters) — The U.S. government warned banks, infrastructure operators and other organizations on Friday to be on alert for hackers who may take advantage of the Heartbleed bug to steal data from vulnerable networks.

OFF BEAT: Kim Dotcom's Megaupload up against U.S. court system

Published April 10, 2014 - 4:18pm CST

Hollywood titans go up against Internet giant Megaupload in an epic copyright battle in the U.S. courts.

Hiscox expands insurance offerings for higher education institutions

By: Kate Shepherd

Published April 10, 2014 - 3:49pm CST

Hiscox Ltd. has expanded protections in its insurance coverages for higher education institutions to meet their increasing risks.