Colonial Pipeline Paid Hackers Nearly $5 Million in Ransom
Colonial Pipeline Co. paid nearly $5 million to Eastern European hackers on Friday, contradicting reports earlier this week that the company had no intention of paying an extortion fee to help restore the country’s largest fuel pipeline, according to two people familiar with the transaction.
May 13, 2021
Excess & Surplus Lines
Fuel Pipeline Hack Spurs Emergency Order from White House
The federal government issued a rare emergency declaration on Sunday after a cyberattack on a major U.S. pipeline choked the transportation of oil to the eastern U.S.
The Colonial Pipeline, responsible for the country’s largest fuel pipeline, shut down all its operations Friday after hackers broke into some of its networks.
May 10, 2021
Excess & Surplus Lines
The Colonial Pipeline, responsible for the country’s largest fuel pipeline, shut down all its operations Friday after hackers broke into some of its networks.
Allstate Reveals 17,000% Unemployment Fraud Increase
Identity theft specifically linked to unemployment jumped to astronomical levels last year during the COVID-19 pandemic, according to data from Allstate Identity Protection (AIP), Allstate Insurance’s identity theft insurance business.
May 7, 2021
Excess & Surplus Lines
Fraud
Sexual Harassment and Discrimination Claims Pock the D&O Landscape
Directors and officers face a slew of challenges on all fronts as businesses emerge from the COVID-19 crisis into a new risk environment.
May 4, 2021
Excess & Surplus Lines
Liability
Litigation
Cyber Insurance Claims Explode In Severity
Ransomware is a dominant source of concern in the cyber insurance community today. In recent years, there has been a significant uptick in the frequency and severity of ransomware attacks, impacting businesses of all sizes and in all sectors.
April 27, 2021
Excess & Surplus Lines
Technology
Four Companies Face California Trial Over Claims They Fueled Opioid Epidemic
Four drugmakers are set to face trial on Monday in a lawsuit by several large counties in California that are seeking more than $50 billion over claims the companies helped fuel an opioid epidemic by deceptively marketing addictive painkillers.
April 19, 2021
Excess & Surplus Lines
Liability
Litigation
California
Cyber Attacks On Microsoft Servers Likely To Generate Thousands Of Insurance Claims
Insurers are being warned of the potential for a large volume of claims following recent cyber attacks on Microsoft’s email servers.
April 1, 2021
Excess & Surplus Lines
Technology
How To Combat The Surge In Ransomware
The threat of a cyber-attack is far more dangerous now than it has been in the past, yet knowledge of the threat prevention systems necessary to protect oneself remain widely unknown.
March 24, 2021
Excess & Surplus Lines
Technology
Nebraska Auto Repair Shop Blaze Destroys Classic Cars
For six long hours on the night of February 20 firefighters in Auburn, Nebraska battled a blaze which destroyed at least 2 dozen cars at dealership Auburn Auto, many of them classics.
March 17, 2021
Auto
Excess & Surplus Lines
Liability
Subrogation
Nebraska
3 Dead After Small Plane Crashes In South Florida
Two people were killed when the small plane they were in crashed in a Pembroke Pines neighborhood Monday afternoon, hitting a car as it went down and leaving the adult inside injured while a child inside later died, officials said.
March 16, 2021
Excess & Surplus Lines
Florida
What Helped Save Some Sports From Financial Ruin May Not Happen Again
Event cancellation insurance is a specialized realm. But during the coronavirus pandemic, it has shored up the balance sheets of sporting events around the world.
March 1, 2021
Excess & Surplus Lines
Report Tracks Rise In Cargo Theft From Storage Facilities
In-transit cargo thefts decreased in 2020 while thefts from warehouses and other storage facilities grew worldwide, according to a 2020 annual cargo theft report from logistics insurance company TT Club and supply chain intelligence firm BSI, released this week.
February 26, 2021
Excess & Surplus Lines
BNSF Fuel Train Collision With Semi Creates Fireball Near Cameron, Texas
There were no injures reported after an 18-wheeler hit the side of a train carrying liquid petroleum Tuesday morning in Milam County, causing a huge explosion.
February 24, 2021
Excess & Surplus Lines
Texas
Texas Mother Whose Son Died In Freeze Sues Power Companies For $100M
The mother of an 11-year-old boy who died after they lost electricity and heat in their Texas mobile home during last week’s freeze has filed a $100 million lawsuit against two power companies for gross negligence.
February 22, 2021
Excess & Surplus Lines
Litigation
Texas
Texas’ Energy Pride Goes Out With Cold
Anger over Texas’ power grid failing in the face of a record winter freeze mounted Tuesday as millions of residents in the energy capital of the U.S. remained shivering with no assurances that their electricity and heat — out for 36 hours or longer in many homes — would return soon or stay on once it finally does.
February 17, 2021
Excess & Surplus Lines
Property
Subrogation
Texas
