cyber liability News

Expect P/C Insurance Price Stagnation in 2016: Kroll

After a banner 2015 for the U.S. property/casualty insurance sector, pricing pressures will lead to stagnation or rate declines in 2016, Kroll Bond Rating Agency Inc. predicted. Pricing will either be flat or down over the next 12 to 18 …

HSB Engineering Insurance Launches Cyber Insurance Cover for UK SMEs

HSB Engineering Insurance has launched a new cyber insurance product aimed directly at small to medium-sized businesses in the U.K. In response to the growing demand for insurance solutions to cover cyber risks, HSB’s Cyber Insurance product provides computer, data …

The Hartford Expands Liability Coverage For Asset Managers

The Hartford has expanded its management and professional liability insurance for asset management firms of all sizes, offering a blended liability policy with new and extended coverage to address key cyber and regulatory risks. “Today’s asset management firms operate in …

CFC Launches Cyber Policy for U.S. Healthcare Providers

Specialist lines underwriting agency, CFC, has extended its cyber product suite with the launch of a new policy developed specifically for U.S. healthcare providers. According to CFC’s Cyber Practice Leader, Vicky Paxton, “Healthcare companies have arguably become the largest target …

Beazley Launches Enhanced Management, Cyber Liability Policy for Law Firms

Beazley has launched “Beazley Practice Protect,” an enhanced management liability policy for law firms, designed to confront a rapidly evolving market for counsel and legal services. Beazley Practice Protect covers both law firm partners and non-partner officers such as CEOs …

Use of Captives Rises for Non-Traditional Risks: Marsh

Captive insurance vehicles are increasingly being used by businesses to provide cover for non-traditional risks, according to a new benchmarking report published by Marsh. Marsh’s report, “The World of Captives: Growth and Opportunities Without Borders,” states that the number of …

Sony, Zurich Reach Settlement in PlayStation Data Breach Case in New York

Sony Corp. of America and Zurich American Insurance Co. have reached a settlement in a commercial general liability (CGL) policy coverage case stemming from the April 2011 hacking of Sony’s PlayStation online services, according to court documents filed Thursday. The …

Executives Examine D&O Claim Trends, Cyber Exposure

A number of industry executives spoke with Insurance Journal recently to share their observations on the current directors and officers liability insurance claim trends. Executives also spoke about a new potential D&O exposure that’s been getting a lot of attention …

Obama Executive Order to Encourage Cybersecurity Information Sharing

President Barack Obama is set to announce a new cybersecurity executive order on Friday designed to encourage companies to share information about cyber threats, White House cybersecurity coordinator Michael Daniel told reporters. The executive action will kick off a process …

California Consumer Sues Anthem Over Data Breach

Anthem Inc. faces what may be the first of many consumer lawsuits a day after disclosing that hackers obtained data on tens of millions of current and former customers and employees. A California woman on Thursday accused the health insurer …