Yahoo Data Breach Lawsuit Can Proceed, US District Court Rules

Yahoo users can proceed with their data breach lawsuit, according to a recent court order that allowed the plaintiffs to pursue negligence and breach of contract claims against the internet giant and its now-parent company Verizon.

US District Court Judge Lucy Koh agreed that plaintiffs had shown that they would have behaved differently with regards to their Yahoo email accounts.

Read more at https://www.advisenltd.com/2018/03/15/yahoo-data-breach-lawsuit-can-proceed-us-district-court-rules/

Erin Ayers, Yahoo data breach lawsuit can proceed, US district court rules (March 15, 2018).

This story in an excerpt of the original. The content originally appeared in Advisen Cyber Front Page News.

What the Insurance Industry Can Learn From Historical Hospital Losses

Hospital losses are not only a concern for the risk professionals at hospitals, but also for the carriers writing the risks and brokers and agents placing them. Today, the biggest challenge facing healthcare establishments and organizations may not be fatal diseases, but a broad spectrum of risks.

While some types of liability are unique to hospitals and healthcare organizations, others are similar to those troubling other industries. A case in point: A Catholic healthcare ministry agreed to pay a total of $358.4 million in 2014 to settle allegations that it violated the Employee Retirement Income Security Act of 1974 (ERISA). According to the complaint, the hospital failed to fully fund their workers’ retirement plan, depriving more than 70,000 employees of critical protections designed to ensure their security in retirement.

Advisen’s loss data experts published [Hospital Losses Doc Name Here] to illustrate losses the insurance industry has experienced in the past decade.

Read more at https://www.advisenltd.com/blog/2018/03/26/hospital-losses-insurance-industry-lessons/

Charlene Farside. (March 2018). What the insurance industry can learn from historical hospital losses [Blog].

This blog post in an excerpt of the original. The content originally appeared in Advisen's Blog page.

Commercial Insurance Prices Show Slight Rise in 4Q 2017

Commercial insurance prices edged upward slightly for most lines of coverage during the fourth quarter of 2017, a likely impact from rough weather-related claims in the last few months of last year, according to Willis Towers Watson’s latest Commercial Lines Insurance Pricing Survey (CLIPS).

Read more at https://www.advisenltd.com/2018/03/13/commercial-insurance-prices-show-slight-rise-4q-2017/

Erin Ayers, Commercial insurance prices show slight rise in 4Q 2017 (March 13, 2018).

This story in an excerpt of the original. The content originally appeared in Advisen Professional Front Page News.

Looking the Wrong Way Through a Telescope at Strategic Ghosts

Cyber and strategy adviser T. Casey Fleming stood up in front of a group of insurance professionals here and told them, “We’re fighting ghosts.”

He introduced the audience at Advisen’s Cyber Risk Insights Conference in London to a concept called “Asymmetrical Hybrid Warfare.” Yes, it sounds like a bold-font title on a manila file folder with hastily pressed red-ink “top secret” stamp, briskly carried into a room for which you do not have clearance.

“Our adversaries are a lot better at intelligence than we are,” Fleming said. We—places like the UK and US—are operating in tactical, maybe operational mode. Our Chinese, Russian and North Korean opponents are operating at the strategic level. He called what is happening now the “Cold War on steroids.”

Read more at https://www.advisenltd.com/2018/03/08/looking-wrong-way-telescope-strategic-ghosts/

Chad Hemenway, Looking the wrong way through a telescope at strategic ghosts (March 8, 2018).

This story in an excerpt of the original. The content originally appeared in Advisen Cyber Front Page News.

Sexual Harassment in the Headlines Means More Attention on EPL Insurance

A rolling wave of sexual harassment accusations swept the nation during 2017, taking down major household names in entertainment, politics, and beyond. The focus on harmful behaviors, power dynamics in professional relationships, and long-hidden cultures of harassment has had wide-reaching impacts, launching the #MeToo movement and creating what is now being called “the Weinstein Effect.”

It has also prompted the question of whether increased attention would have an impact on the employment practices liability insurance space, as organizations realize that harassment and discrimination claims aren’t isolated to the rich and famous. Insurance professionals say that although the high-profile cases have brought some focus to the risk of workplace sexual harassment claims, they have not seen a corresponding flood of new applications for EPL coverage or higher limits bought by existing customers.

Read more at https://www.advisenltd.com/2018/02/28/sexual-harassment-headlines-means-attention-epl-insurance/

Erin Ayers, Sexual harassment in the headlines means more attention on EPL insurance (February 28, 2018).

This story in an excerpt of the original. The content originally appeared in Advisen Professional Front Page News.

Advisen Releases the Second Edition of the Most Comprehensive Guide to Cyber Service Providers

Advisen announced the release of the 2018 Cyber Guide: The Ultimate Guide to Cyber Service Providers. This second edition of the Cyber Guide is twice the size of the 2017 edition featuring 161 companies across 10 categories.

Considered to be a one-stop shop for making cyber-partner decisions, this free interactive e-PDF offers buyers of cyber services the most comprehensive, independent guide to the service providers available in the market and the products each offer.

Read more at https://www.advisenltd.com/2018/03/06/advisen-releases-the-second-edition-of-the-most-comprehensive-guide-to-cyber-service-providers/

Advisen Ltd. (March 2018). Advisen releases the second edition of the most comprehensive guide to Cyber service providers [Press Release]. Retrieved from Advisen Press Releases.

Vote NOW to decide Advisen’s 2018 Cyber Risk Awards

Voting is now open for Advisen’s 2018 Cyber Risk Awards, which recognizes the P&C insurance industry’s most influential cyber risk professionals. This year’s list of nominees includes 20 new individuals and 27 new companies not included in last year’s ballot. Winners will be announced on June 6, 2018 at Gotham Hall in NYC.

34 cyber risk professionals and 66 companies have been shortlisted across 10 categories.

Read more at https://www.advisenltd.com/2018/03/06/vote-now-to-decide-advisens-2018-cyber-risk-awards/

Advisen Ltd. (March 2018). Vote NOW to decide Advisen’s 2018 Cyber Risk Awards [Press Release]. Retrieved from Advisen Press Releases.

Reputational Harm Rises as Priority for Insurance Industry

Measuring the financial reputational harm from of cyber events may be difficult, but insurers will need to develop a product to meet the market demand for the risk, according to experts speaking during Advisen’s Cyber Risk Insights Conference, held Feb. 13 and 14 in San Francisco.

Unfortunately, the industry has far to go before being able to effectively underwrite and price reputational risk. Some strides have been made on insuring against business interruption and contingent business interruption, but reputational risk provides a different challenge.

Read more at https://www.advisenltd.com/2018/02/26/reputational-harm-rises-priority-insurance-industry/

Erin Ayers, Reputational harm rises as priority for insurance industry (February 26, 2018).

This story in an excerpt of the original. The content originally appeared in Advisen Cyber Front Page News.

GDPR Again? No, really, it’s time to pay attention

Businesses might be tired of hearing about the European Union’s General Data Protection Regulation (GDPR), but make no mistake – it’s a really big deal, according to speakers at Advisen’s Cyber Risk Insights Conference in San Francisco.

GDPR, now just under 100 days from being implemented on May 25, dramatically raises the financial and operational stakes for any organization handling the personal information of EU citizens. Panelists agreed that most organizations are not ready for the approaching mandate.

Read more at https://www.advisenltd.com/2018/02/22/gdpr-no-really-time-pay-attention/

Erin Ayers, GDPR again? No, really, it’s time to pay attention (February 22, 2018).

This story in an excerpt of the original. The content originally appeared in Advisen Cyber Front Page News.