cyber liability News

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 …

ACE Launches Cyber Risk Unit for Continental Europe

ACE Group announced the launch of a new, independent cyber risk business unit as it continues to strengthen its local underwriting and risk management capabilities across Continental Europe. The announcement follows research by ACE which indicates that cyber is a …

Swiss Re Corporate Solutions Strengthens Cyber & Technology Team

Swiss Re Corporate Solutions has strengthened its Cyber & Technology team with the addition of two new senior executives. Francois Brisson and Richard De Piero have been appointed Global Head and North America Head, respectively, for this key line of …

Technology Dominates Texas-Based Group’s Fraud Predictions for 2015

Technology will give fraudsters an edge in 2015, but it will also provide new tools for organizations and investigators, according to three experts from the Austin, Texas-based Association of Certified Fraud Examiners (ACFE) who were asked for their top fraud …

Lawmakers Seek Details on Financial Services Firms’ Data Breaches

Leading Democrats in both houses of Congress sent letters on Tuesday to 16 major banks and other financial firms requesting detailed information about recent data breaches and briefings from corporate data security officials. Among the companies targeted in letters sent …