Bank heist may have lasting impact on insurance industry

May 15, 2013May 25, 2013 Logan B.

Insurance industry may feel the impact on recent heist The insurance industry may be set for a shock in the wake of one of the world’s largest bank heists. Late last week, a global cyber crime syndicate successfully stole $45 million from two banks in the Middle East. This was accomplished by hacking into the credit card processing firms that were used by the banks. The funds were withdrawn from numerous ATMs in 27 countries, including the U.S. While this money is typically insured by the governments associated with banks…

U.S. Justice Department joins appeals Supreme Court to hear case concerning federal insurance mandate

September 30, 2011September 30, 2011 Marc

The U.S. Justice Department has joined the call from 26 states and the National Federation of Independent Business for the Supreme Court to take up the issue of the federal insurance mandate that will be enacted in 2014. The mandate is part of the Affordable Care Act health care law brings major changes to the nation’s health care system. Now that the Justice Department has involved itself, the Supreme Court is likely to hear the case and reach a conclusion on the matter by the middle of 2012. The health…