Chubb commercial insurance for cyber liability endorsed by American Bar Association

Chubb homeowners Insurance

Company also adds new cargo theft protection products. The nonprofit American Bar Association (ABA) affiliate, the American Bar Endowment, has chosen the Chubb Group of Insurance Companies as their primary cyber liability commercial insurance provider for the association’s members. The coverage for law firms extends beyond standard professional liability protection for lawyers. This product includes many other forms of coverage, such as those for cyber breach notification costs, as well as “billable lost hours” through business interruption protection. It also helps to decrease coverage overlaps by third parties by allowing…

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The safety of online storage remains unsure as thousands of insurance documents are left unprotected

As states continue to labor toward health insurance exchanges, there have been concerns raised regarding the safety of medical and insurance documents stored online. These concerns stem from a provision of the Affordable Care Act that has health care and insurance professionals store consumer information electronically to allow quick and easy access. Electronic storage will be a major part of the coming online insurance exchanges, as it will allow doctors to access important medical information when treating patients. The safety of these documents has been questioned as hackers continue to…

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Zurich American takes Sony to court over data breach claims

A new court case between the Zurich American insurance company and Sony – its client – may set a precedent for future decisions made regarding an organization’s liability and coverage at the time of a data breach. The insurer has stated that it will not cover Sony’s costs for the many class-action lawsuits that have occurred following the massive database breaches it experienced earlier in 2011, and is seeking the support of the courts for its decision. Sony has already reported that it anticipates that the direct financial cost of…

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