September 28, 2011
AgencyTexas Wildfire Insured Loss Estimate Climbs; Could Hit $500M
While it was thought earlier this month that Texas wildfires this year would cause insured losses of around $250 million, it is now estimated that losses could be twice that amount. Mark Hanna, public relations manager for the Insurance Council of Texas says losses from the Bastrop fire alone are thought to be around $250 […]
October 12, 2011
AgencyTravelers Expands Special Event Insurance
The Protector Plan for Events, underwritten by Travelers, has expanded beyond weddings to deliver specific coverages for private special events including parties for anniversaries, birthdays, sweet sixteen celebrations, baby showers, holiday parties, and retirements. The plan provides coverage for certain severe weather causing event cancellation or postponement, transportation shutdowns, lost deposits, and other losses. Policyholders […]
October 28, 2011
AgencyTexas Website Operator Indicted for Streaming Copyrighted Sporting Events
The operator of a website that allegedly streamed live, copyrighted sporting events on the Internet illegally was indicted on Oct. 22, 2011, for criminal infringement of a copyright. According to the indictment, between 2005 and Jan. 31, 2011, Bryan McCarthy, of Deer Park, Texas, operated channelsurfing.net and provided links on that website to various live […]
November 1, 2011
AgencyCyber Attack Targets Chemical, Defense Firms
At least 48 chemical and defense companies were victims of a coordinated cyber attack that has been traced to a man in China, according to a new report from security firm Symantec Corp. Computers belonging to these companies were infected with malicious software known as “PoisonIvy,” which was used to steal information such as design […]
November 8, 2011
AgencyEvaluating Injury Causation in Low Speed Automobile Collisions
Low speed motor vehicle collisions are a common occurrence. The use of cellular phones, text messaging, and e-mailing while driving has only increased the frequency of low speed motor vehicle collisions. A collision where there is only minor damage to the vehicles may result in personal injury claims for substantial sums. An approach that can […]
November 16, 2011
AgencyBanks Having to Defend Credit Card Insurance
When Mariya Kruseck broke her tailbone snowboarding and lost her part-time job five years ago, the then 19-year-old college student was relieved she had bought payment protection to go with her credit card. But she said the product failed to kick in and her debt ballooned to more than $2,100, destroying her credit rating. It […]
November 18, 2011
AgencyTop Three States for Thanksgiving Day Cooking Fires
PRNewsFoto/State Farm More cooking fires occur on Thanksgiving than any other day of the year, according to data provided by State Farm. In fact, grease and cooking-related claims more than double on Thanksgiving Day compared to an average day in November. With the popularity of turkey frying increasing, more people than ever are at […]
November 28, 2011
AgencyInsured Loss Estimate from Hurricane Irene Rises to $4.3 Billion
An insurance industry service that tracks catastrophe losses has sharply raised its estimates for August’s Hurricane Irene, projecting insured property damage of $4.3 billion from the first hurricane to hit the United States in three years. Property Claim Services, which bases its estimates on confidential insurer surveys and its own database of houses across the […]
December 2, 2011
AgencyProperty Insurance Rates on the Rise: Marsh
Nearly half of the U.S. property insurance policies renewed in the current quarter have been at higher prices, brokerage Marsh said on Friday, adding fuel to an industry turnaround after years of declining rates. Marsh said 48 percent of property policies renewed in the fourth quarter have been at a rate at least 1 percent […]
December 8, 2011
AgencyWant to Reduce Cyber Risk? Avoid These 25 Worst Passwords of 2011
One way to help lower personal and business cyber risk is to avoid using easy-to-crack passwords. SplashData, a password management application maker, recently compiled a list of the 25 worst passwords for the year 2011. The research results were based on millions of actually stolen passwords that were made available online. Having tough-to-guess passwords may […]