Insurance News

Insider Sentenced for Sabotaging PPE Shipments

Prosecutors: Actions Disrupted Deliveries of Critical Supplies During Pandemic A former vice president of a personal protective equipment packaging firm has been sentenced to prison and ordered to pay restitution for sabotaging the company’s electronic shipping records during the COVID-19 pandemic – causing delays in deliveries – after he was terminated from his job. Source: Info Risk Today Insid…

Even in Test Mode, New Mirai Variant Infecting IoT Devices

Researchers: ‘Katana’ Features Many Enhancements A greatly enhanced variant of the powerful Mirai botnet is already infecting IoT devices even though it’s operating in a test environment, according to researchers at cybersecurity firm Avira Protection Lab. Source: Info Risk Today Even in Test Mode, New Mirai Variant Infecting IoT Devices

Calls for insurance incentives for farmers reducing fire risks

“The Federal Government must take the lead on building a more resilient Australia”

Source: Insurance Business Online Calls for insurance incentives for farmers reducing fire risks

ASIC deputy chairman resigns following expenses scandal

A review looks into his alleged use of taxpayer funds to cover rent expenses

Source: Insurance Business Online ASIC deputy chairman resigns following expenses scandal

AIG appoints Peter Zaffino as chief executive officer

Current CEO Duperreault will become executive chairman

Source: Insurance Business Online AIG appoints Peter Zaffino as chief executive officer

Firms urged to revisit emergency response and business continuity plans

Spotlight shines on risk consulting and engineering

Source: Insurance Business Online Firms urged to revisit emergency response and business continuity plans

Westpac takes huge insurance charge against earnings

Charge is the latest blow for country’s oldest bank

Source: Insurance Business Online Westpac takes huge insurance charge against earnings

Two Key Decisions Regarding COVID-19 Related Business Losses

Law360 reports that more than five thousand civil lawsuits have been filed by businesses seeking to recoup pandemic-related losses under their commercial policies. This new wave of litigation has called upon courts across the country to determine whether commercial policyholders have a right to recover for business losses in light of the COVID-19 pandemic. Just last month, two federal courts…

The racial reckoning of recent months has raised the bar for business leaders. It is no longer enough for them to simply understand that a diverse group of employees, managers, executives and board members creates better results. They need to have the commitment and motivation to act as well as the fortitude and patience to improve the work environments they oversee. Whether it is diversity in…

Tesla Insurance Could Potentially Be America’s Biggest Auto Insurer

Tesla Insurance – the auto insurance offshoot of Tesla Inc. – could become one of the largest auto insurers in America, if the unit’s valuation by chief executive Elon Musk is to be believed. In a recent quarterly earnings call, Musk dropped hints that he sees Tesla Insurance taking up a good portion of the company’s car business. “Obviously, insurance is substantial. So, insurance could very…

Cybersecurity Data Sharing: A Federal Progress Report

Audit Finds Agencies Still Have Plenty of Work to Do Certain federal agencies, especially units within the Department of Defense, still have plenty of work to do when it comes to sharing cybersecurity information and threat intelligence among themselves as well as with the private sector, according to a report recently sent to Congress. Source: Info Risk Today Cybersecurity Data Sharing: A…

Malware Infects Small Hospital's Medical Imaging Server

Data on 29,000 Patients Potentially Exposed A breach stemming from malware infecting a medical imaging server at a small, rural New Mexico hospital serves as a reminder of medical equipment data security and privacy vulnerabilities and risks faced by facilities of all sizes. Source: Info Risk Today Malware Infects Small Hospital’s Medical Imaging Server

AFCA offers dedicated support for bushfire victims

An online support information hub has been established

Source: Insurance Business Online AFCA offers dedicated support for bushfire victims

US Conflict With Iran Sparks Cybersecurity Concerns

Homeland Security Reminds CISOs to Protect Critical Systems After an Iranian general was killed in a U.S. drone strike in Baghdad late Thursday night, security experts and the Department of Homeland Security warned of possible retaliatory cyber strikes from Iran that could target critical infrastructure, government agencies as well as private businesses. Source: Info Risk Today US Conflict With…

IAG ups catastrophe reinsurance cover to $10 billion

The insurer also provides perils update

Source: Insurance Business Online IAG ups catastrophe reinsurance cover to billion

This week’s top insurance jobs – January 06, 2020

Kickstart the year with a new career in Commonwealth Bank, EY, and Westpac Group

Source: Insurance Business Online This week’s top insurance jobs – January 06, 2020