As cyberattacks become more frequent and costly, it’s crucial for organizations to maximize their financial protection against related losses by purchasing sufficient insurance. Cyber coverage, also known as cyber liability insurance, can help organizations pay for a range of expenses that may result from cyber incidents—including (but not limited to) data breaches,ransomware attacks and phishing scams.
In recent years, cyber incidents have surged in both cost and frequency. That’s why it’s vital for businesses of all sizes and sectors to understand their digital exposures and take steps to minimize damages that may result from cyber incidents. In particular, businesses should consider their reputational risks.
Many medical devices contain configurable embedded computer systems that can be vulnerable to cyber security breaches. In addition, as medical devices are increasingly interconnected via the Internet, hospital networks, other medical devices or smartphones, there is an increased risk of cybersecurity breaches, which could affect how a medical device operates.
Shale gas exploration represents vast economic opportunity and an environmental advantage over other fossil fuel sources. However, the extensive use of horizontal drilling and multi-stage hydraulic fracturing means that there are specific, unique risks involved in this type of drilling that are not present in low-pressure, low-volume drilling.
Project owners or general contractors must carefully vet contractors to ensure job site safety and financial security. A critical factor in this selection process is verifying that contractors carry adequate insurance. Hiring uninsured contractors can expose a project to significant risks, including safety hazards, liability issues and potential financial losses.
Profitable underwriting results have generated favorable conditions across the workers’ compensation insurance market for nearly a decade. According to the National Council on Compensation Insurance (NCCI), the segment produced combined ratios of 84.5 and 84.9 in 2022 and 2023, respectively, demonstrating continued profitability.
In what is being called “the most important cyber accumulation loss event since NotPetya,” the July 19, 2024, global technology outage (CrowdStrike) will produce scores of insurance claims across a range of policies, test cyber policy wordings,and sharpen the industry’s focus on single points of failure.
The health and safety of your residents should be your top priority, so it is important that your facility is proactive in ensuring that the proper fire safety precautions are in place.
In October 2020, the University of Vermont (UVM) Health Network—a six-hospital health care organization that serves over 1 million patients throughout Vermont and upstate New York discovered that its systems had been compromised by cybercriminals in a ransomware attack.
The Commercial Vehicle Safety Alliance (CVSA) recently scheduled this year’s Brake Safety Week for Aug. 25-31, 2024. This annual event aims to emphasize the importance of ensuring sufficient brake systems in commercial motor vehicles (CMVs).
