reputational risk News

Hacked Adulterers’ Website Faces Reputation Risk; 36M Users Fear Being Outed

Hackers claiming to have stolen data from AshleyMadison.com, a website that facilitates hook-ups between would-be adulterers, have released information they say includes details of more than 36 million user accounts. The data dump appears to be “legit” and includes full …

IRS Scrutiny of Offshore Tax Avoidance Repels Bids for Bermuda Reinsurers

The IRS’s scrutiny of tax avoidance in offshore locations has discouraged bidders from taking over reinsurers, potentially reducing the companies’ value. Montpelier Re Holdings Ltd. and Platinum Underwriters Holdings Ltd., both based in Bermuda, have each said in recent regulatory …

College Sexual Assault Charges Hard to Prove

An anonymous college student said in a media report that she had been gang-raped at a fraternity house. She told the reporter that she was drugged and beaten around the face, legs and vagina, yet a university dean ignored her …

Negative Comments Lead Michigan Marketing Firm to Sue Client

A Hartland Township marketing and Web design firm sued a former client over comments it made about the company online and in a letter to a business networking group. Five Sparrows filed the defamation suit against James Beasley and his …

Church Investor Sues Wal-Mart Over Sale of Guns, ‘Offensive’ Music

Wal-Mart Stores Inc.’s sale of sexually charged music and high-capacity weapons hurts the company’s image, an historic Wall Street church said in a lawsuit seeking to force a shareholder vote on tightening board oversight of products that offend “family values.” …

Best Places S.A.C. Re Ratings under Review/Negative

A.M. Best Co. has placed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Bermuda-based S.A.C. Re, Ltd. under review with negative implications. Best explained that the rating actions reflect its “concern with the business …

ACE Study: Reputation the Hardest Risk to Manage

Ninety-two percent of companies believe that reputational risk is the most challenging category of risk to manage, according to a major new study from ACE Group conducted across 15 countries within its EMEA (Europe, Middle East and Africa) region. ACE’s …

Marsh Cites ‘Lessons Learned’ from Bangladesh Factory Collapse

A report from Marsh on the recent Rana Plaza factory collapse in Bangladesh that killed more than 1,100 people cites the “serious risks that labor conditions can pose not only to workers, but also to organizations’ reputations, supply chains, and …

CFC Underwriting Upgrades Cyber Policy

Lloyd’s underwriting agency, CFC has made a major upgrade to its flagship cyber and privacy product policy in order to protect customers against the changing face of cyber crime and react to the constant changes in the legal and regulatory …

ACE USA’s Excess Casualty Unit Expands Catastrophe Management Coverage

ACE USA, the U.S.-based retail operations of the ACE Group, has expanded its catastrophe management insurance products with the introduction of the ACE Cat Management 2.5 endorsement by its ACE Excess Casualty Unit. This endorsement is designed to supplement ACE’s …