The Weekly Wrap: White House pushes for data breach reporting

Plus: Expatriates may not be required to purchase health insurance, and a new D&O product from ACE is available.



The White House called on Congress Thursday to pass legislation creating a national standard for alerting consumers when their data has been breached. Given the patchy nature of the country’s mismatched data breach laws, the White House hopes to create a more uniform process that will guide businesses more effectively.

“As organizations store more information about individuals, Americans have a right to know if that information has been stolen or otherwise improperly exposed,” said the White House report.

The report follows a 90-day review of data and privacy standards in the US, ordered by President Obama following the revelations of ex-NNA employee Edward Snowden.

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ACE Group is expanding its D&O offerings with ACE 2488, a product for multinational organizations. The proposition is backed by Lloyd’s, and allows ACE to issue policies on behalf of ACE’s Syndicate 2488 directly in the US and Bermuda.

ACE 2488 Global E&O is said to complement the insurer’s existing suite of products, providing organizations with options for placing multinational D&O programs and offering consistent coverage regardless of location.

Zurich North America appointed Peter Hahn as Head of Predictive Analytics. Hahn, who assumed the new role in March, is responsible for building Zurich’s analytics capabilities.

“One of the cornerstones of Zurich’s strategy is to create a competitive advantage through distinctive risk insights for risk selection and pricing that promotes profitable growth and helps our customers better understand and protect themselves from risk,” said Mary Merkel, chief underwriting officer at Zurich North America.

“We are investing to build our Predictive Analytics Center of Excellence to deliver on this strategic priority, and Peter’s appointment is an important step in our multi-year investment,” Merkel added. “This capability is consistent with the Zurich strategy presented in December 2013 of prioritizing investments in distinctive positions, particularly in the corporate and commercial mid-market segments in North America.”

Some expatriates may be exempt from the requirement to purchase health plans, after a bill cleared the House on a 268-150 vote Tuesday.

Analysts say the bill is unlikely to be signed into law, however, given White House concerns that the proposal could unintentionally allow plans sold to legal immigrants to avoid ACA coverage requirements.

There is also worry that the bill lacks any protections to ensure health plans sold to expatriates will provide adequate levels of coverage.

Rep. Henry Waxman, a democrat from California, said the House plans on "fixing" those issues as the bill progresses.

"We should have fixed both of those issues before it was brought up on the House floor," Waxman said.

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