Safety First: Major Recall of Kidde Portable Fire Extinguishers

Earlier this month, the Consumer Product Safety Commission (CPSC) announced the recall of roughly 40.5 million Kidde portable fire extinguishers sold in the U.S. (37.8 million units) and Canada (2.7 million units).  The recall involves 134 different models manufactured between Jan 1, 1972 and August 15, 2017, including models that were previously recalled in March 2009 and February 2015. Kidde extinguishers are commonly sold for residential, vehicle and sometimes commercial use.

Background

This recall involves two styles of Kidde extinguishers – plastic handle and push-button Pindicator portable fire extinguishers.  The CPSC notes that these fire extinguishers can become clogged or require excessive force to discharge and can fail to activate during a fire emergency.  In addition, the nozzle can detach with enough force to pose an impact hazard.

There have been nearly 400 reports of failed or limited activation or nozzle detachment, including a 2014 fatality involving a car fire following a crash where emergency responders were unable to get a recalled Kidde fire extinguisher to work.  Extinguisher failure has also resulted in approximately 16 injuries including smoke inhalation, minor burns and approximately 91 reports of property damage.

Replace your Extinguisher

Consumers can immediately contact Kidde to request a free replacement fire extinguisher and to obtain instructions on returning the recalled unit, as it may not work property in a fire emergency.

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New Driver Injury Protection Program

OneBeacon Accident & Health has recently launched a new product specifically for Uber driver-partners. The first-of-its kind driver injury protection program, available through Aon Affinity and underwritten by Atlantic Specialty Insurance Company, provides up to $1,000,000 in benefits for covered injuries.

Leveraging their experience and expertise in the transportation space, the Accident & Health group developed an occupational accident insurance solution in partnership with Aon and Uber. The program is designed for Uber drivers, who are independent contractors, while they are online with the Uber app and transporting passengers or goods.

Occupational accident has traditionally been used in the trucking marketplace to provide independent contractors with financial protection in the event they are in an accident while under dispatch.  In the traditional transportation model, the driver pays a monthly rate.  In this innovative approach, the driver pays a fixed rate per mile—or a usage-based pricing model—that aligns with the on-demand nature of this gig economy rideshare model.

Coverage is available in 30 states, with a continued national rollout planned throughout the year.

For further information on the product/program please contact A&H’sTedd Merrill at 781.332.8391 or tmerrill@onebeacon.com.

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Printing for Life

When 3D printing technology emerged, there was immediate excitement within the life science community, which quickly imagined the many possibilities. Fast forward to 2017 and 3D printing has expanded to “bioprinting,” or the practice of manufacturing tissue and organs with materials that incorporate viable living cells. This almost unbelievable technique has enabled practitioners to test advancements in the area of reconstructive surgery, transplantation and more.

We are pleased to announce our OneBeacon Technology group’s newest whitepaper, which addresses this topic. Titled “3D Bioprinting – Printing for Life” and co-authored by our technology risk control specialists Tushar Nandwana and Steve Morkovsky, this reference piece defines bioprinting, discusses various current technologies and emerging applications, along with the associated risks and exposures.

To access of our full inventory of technology-focused whitepapers, visit our website.

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MedTech Insights: What’s your gut telling you?

We’re pleased to share OneBeacon Technology’s most recent whitepaper titled, “Microbiome: What is your gut telling you?” authored by Risk Control Medical Technology Specialist Elizabeth Marazzo. As you’ll read, Elizabeth explains the study of microbiomes, their impact on our individual well-being and how the life science and healthcare industries are harnessing these insights to improve medical treatments and preventive care.

Please visit our Technology Insurance website to view our complete library of technology-focused whitepapers.

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Sharing Expertise: Tech-Talk at ECIA

After-hours networking for Technology Risk Control Manager Tushar Nandwana recently meant sharing insights on the fast-developing state of artificial intelligence. Tushar was among several speakers featured at the Electronic Components Industry Association (ECIA) Regional Series in Phoenix. His technology underwriting colleague Denise Oppelt was also there, along with Nate Call from USI Phoenix (pictured below). Visit the ECIA website for insights on this association and the Regional Series.

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Intelligence 2.0: Where Artificial Gets Real

There are days when we’d prefer for someone else to do the thinking for us – and these days, that wish is not so far-fetched! One of the more opportunistic developments has been the field of artificial intelligence (“AI”). With the overwhelming amount of data available to help us assess and evaluate matters, using AI to rapidly digest information presents a potential sea change in many industries. From language translation to diagnosing and treating cancer, it’s applications are far-reaching.

We’re excited to share our most recent whitepaper titled “The reality behind Artificial Intelligence” authored by Technology Risk Control Manager Tushar Nandwana. In this paper, Tushar explains the various forms of AI and how they function, describes several examples of AI and offers a view of risks and concerns.

To view our entire technology-focused whitepapers library, visit our dedicated technology insurance website.

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Cyber Risk Claims: An Inside View

As the interest in cyber insurance products escalates, getting a clearer view of claims trends is critical. NetDiligence, a cyber risk assessment and data breach services company, recently published a comprehensive analysis of reported data breach and other cyber event losses. Titled, 2016 Cyber Claims Study, the report was sponsored by OneBeacon Technology among others. Topics include the types of data exposed, causes of loss, business sectors involved, sizes of affected organizations, insider involvement, and third-party involvement. New analyses include:

  • Cloud involvement
  • Cyber extortion/Ransomware
  • Phishing
  • Phishing and wire transfer fraud
  • POS-related/common point of purchase/CPP investigations

Additionally, the costs associated with crisis and recovery services (e.g., forensics, notification, credit/ID monitoring, legal counsel and miscellaneous other), legal damages (defense and settlement), regulatory action (defense and settlement) and PCI fines are highlighted.

We invite you to download this whitepaper and to review our technology and life science library of whitepapers, visit our website resource library.

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