March 6, 2017

Cybersecurity Safeguards

“These strong, first-in-the-nation protections will help ensure this industry has the necessary safeguards in place in order to protect themselves and the New Yorkers they serve from the serious economic harm caused by these devastating cyber-crimes.”

— New York Governor Andrew Cuomo, announcing cybersecurity regulation that takes effect in March and is aimed at protecting New York’s financial services industry and consumers from cyber attacks. The regulation requires banks, insurance companies and other financial services institutions regulated by the New York Department of Financial Services to establish and maintain a cybersecurity program.

Stuff Happens

“But we live in a world of risk. Stuff happens and we respond.”

— California Gov. Jerry Brown said public officials depend on the recommendations of their engineers and that he had not known of the warnings about the risk of catastrophic flooding below a major Northern California dam.

Hail Claim Litigation

“With the majority of our policyholders who filed litigation, we were never notified of a dispute before the lawsuit was filed. That is certainly an indication to us that attorneys rather than homeowners are driving the large increase in hail claim litigation across the state. A number of homeowners who we insure have told our adjusters they were solicited at their home to sign documents to have someone assist them with an insurance claim.”

— Greg Farnik, litigation counsel for the Republic Group affiliates in Texas. The insurance industry in Texas is seeking legislation that would deter attorney-driven property lawsuits against insurers.

A Grassroots Effort

“In the smaller communities, it’s hard to get volunteers in the door. … It’s a grassroots effort.”

— Minooka (Illinois) Fire Chief Al Yancey speaks to the problems that small Illinois communities are having with recruiting and retaining volunteer firefighters.

From This Issue

Insurance Journal West March 6, 2017
March 6, 2017
Insurance Journal West Magazine

Hospitality Risks Directory; Homeowners & Auto; Business Interruption

Add a Comment

Your email address will not be published. Required fields are marked *


More News
More News Features