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Health insurer hacked…. Is your workplace making you sick?... Canadian insurance bureau concerned about Uber… Willis Re introduces industry first…

Risk Management News

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Health insurer hacked
Health insurance firm Anthem has been targeted by cyber hackers and the personal information of tens of millions of customers could be at risk. In statement the firm said: “Cyber attackers executed a very sophisticated attack to gain unauthorized access and have obtained personal information relating to consumers and Anthem Blue Cross employees who are currently covered, or who have received coverage in the past.” The announcement was made late Wednesday and further details are sketchy although the firm says it is not likely that medical records are among the documents that have been accessed.
 
Is your workplace making you sick?
Workplace stress in America may cost as much as $190 billion in healthcare expenses and 120,000 deaths each year according to a new study. Harvard Business School and Stanford’s Graduate School of Business research estimates that stress factors such as inadequate health insurance, being overworked and not managing a work-life balance are the three top concerns. Those in low-income jobs are among the most stressed as their financial pressures are increased by poor (or no) healthcare benefits making treatment for stress less of an option.
 
Canadian insurance bureau concerned about Uber
The Insurance Bureau of Canada has expressed concern about the level of insurance protection afforded to users of Uber in the country. Although Uber as a commercial entity has commercial policies in place it is unclear whether individual drivers have, or should have, commercial policies. While licensed taxis in Toronto for example are required to have $2 million of liability insurance there are concerns that Uber drivers may be carrying passengers on a private vehicle policy. Although the firm says it has a robust and comprehensive policy in place in Canada and the other countries in which it operates the concern is whether its model would stand up to challenge. Businesses that use taxi services for employees or visitors may need to reassure themselves that they are only using services that are adequately insured to avoid being held liable in the event of an incident.
 
Willis Re introduces industry first
Willis Re has introduced a new cyber threat modelling tool, believed to be an industry first. The new tool, PRISM-Re, will enable insurers to work out their portfolio exposure to data breach. The firm says that the product is a major breakthrough in the industry’s ability to manage cyber-risk. It uses analysis of cyber attacks to predict and quantify the frequency and severity of attacks. 

 

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