As you know, the Annapolis Capitol Gazette building was the scene of a tragic incident on Thursday afternoon. Our IMU Yacht Center is located in that building and thankfully, everyone on our team is safe. Our thoughts and prayers are with the Capital Gazette community and their families during this difficult time.
Our office reopened on Monday, July 2.
As we near the official start of summer, it’s also the start of the Atlantic hurricane season, which runs June through November. Last year the United States and its territories saw major devastation, as hurricanes Harvey, Irma, Jose and Maria blew through and made landfall.
This month’s boating tip from National Marine Underwriters and International Marine Underwriters provides a forecast from the Insurance Industry Institution (I.I.I.) into the 2018 hurricane season, in addition to statistics from past hurricane seasons. Read the full article here, and visit nmu.com and imu.com for more tips and insights.
Julie Bobak and Christy Vago are in San Francisco this week for the second annual Hint Summit. This event brings together those pioneering the Direct Care movement, and provides a platform to share thoughts and experiences with attendees from a variety of fields through a combination of presentations, breakout sessions and networking opportunities.
We are looking forward to attending this event, learning more and meeting those already working with this model.
The Healthcare Group’s Sarah Logue, SVP and Medical Facilities Division Leader, is in New Orleans this week for the annual Drug & Alcohol Testing Industry Association (DATIA) Conference. This conference provides a great forum to hear about the latest information on regulatory affairs, ethics, safety and the business practices critical to the success of these types of organizations. If you’re headed there this week, the latest issue DATIA Focus magazine will be available, which features the article titled, “Enterprise Risk Management Strategies for Drug and Alcohol Testing Organizations” written by Patricia Hughes, SVP of Healthcare Risk Management.
OneBeacon Healthcare Group is excited to exhibit this week at the 28th Annual New England Regional Healthcare Risk Management Conference hosted by the Northern New England Society for Healthcare Risk Management (NNESHRM). In addition to the educational and networking opportunities available, this conference brings together healthcare risk managers, insurance professionals, attorneys and others in the medical field to talk about emerging issues in healthcare and ways to minimize their potential liability.
The 2018 PLUS Healthcare & Medical PL Symposium is taking place in Chicago this week, bringing hundreds of industry practitioners to one place to network and connect. OneBeacon Healthcare Group is pleased to be a silver sponsor for this year’s conference. Our team members look forward to meeting with brokers and connecting with colleagues to talk about our enhanced Physician Group product, as well as updates to the Managed Care and Medical Facilities products. We look forward to seeing you there!
OneBeacon Financial Services is excited to be in Las Vegas this week attending the ICBA Live 2018 convention. Held annually, this national event is one of the largest gatherings of community bankers. The educational opportunities keep bankers up-to-date on latest trends affecting their banks. Stop by booth #315 to see Barbara Winsor, Craig Collins and Becky Riekofski – they are ready to talk insurance solutions for community banks!
Barbara Winsor, Craig Collins and Becky Riekofski stand at the Financial Services book at the annual ICBA conference.
The 2018 PLUS D&O Symposium begins today in New York City. This event brings together industry thought leaders who will discuss the issues impacting the D&O insurance marketplace today, and what can be expected in the coming years. Members of the OneBeacon Management Liability team will be there, and look forward to the educational sessions, as well as connecting with colleagues. We hope to see you there!
The American Bankers Association (ABA) Insurance Risk Management Forum is taking place this week in Austin, TX. This conference is designed specifically for members of the financial services risk management community to help them better understand the challenges the banking industry faces, and how to meet those challenges head on.
OneBeacon Financial Services’ Craig Collins and Gary Tannenbaum are attending this week, and looking forward to the learning and networking opportunities. We hope to see you there!
Wondering what the average cost of a breach incident was this year? Or which industry was the most affected by cyber events? We’re pleased to share the 2017 Cyber Claims Study authored by NetDiligence.
The 2017 Cyber Claims Study is pivotal with extensive data-driven analysis distilled and modeled in three distinct measures: numbers of records, costs of breached, and per record costs. Notable in this year’s study, we have contrasted and compared datasets aggregated over the last four years.
The data graphics provided distinguish the rich and complex statistical material, successfully organizing a large collection of numbers and making comparisons between different parts of the data narrative.
In coming years, we will closely follow costs associated with exposures for companies that have a presence in the EU. The General Data Protection Regulation (GDPR) goes into effect in May 2018. This regulation applies to all EU member countries and companies based in those countries and any non-EU companies that process the data of EU citizens. The maximum fines for lack of compliance could be enormous—up to 4% of overall turnover/revenues or €20M, whichever is greater.
To download this whitepaper and to review our technology and life science library of whitepapers, visit our website resource library.