In this article written by OneBeacon Government Risks’ Joe Garcia, he highlights the importance of fleet safety policies, and how every community emergency department should place significant emphasis on their policies. Expect the unexpected while heading to the emergency scene, because accidents happen. Read the full article here, which was published in this month’s issue of PRIMA.
OneBeacon Financial Services’ Tammy Placzek and Dave Neumann are in Wichita this week for the Kansas Bankers Association 2018 Bank Technology Conference & Showcase. This conference is designed to help banks lead and manage their technology efforts, and provides a great opportunity to connect with members of the banking community. Tammy and Dave are exhibiting at booth 49, and look forward to talking about your insurance needs.
It’s February! And that means Insurance Careers Month has officially begun. This initiative aims to collaborate with the industry’s community to raise awareness and inspire young professionals to choose insurance as a career. All month long, we’ll be sharing our experiences working in the insurance industry, and posting Insurance Careers content to our social media.
To learn more about this movement, visit their website and find out how you can get involved!
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!
Due to the winter storm throughout the North East today, several of our offices will be closed including:
- Connecticut- Farmington office
- Massachusetts- Boston, Canton and Quincy offices
- New Jersey- Holmdel office and Morristown
- New York- New York City office
Employees able to work from home should be reachable by phone and email. All offices are anticipated to be open for business as usual tomorrow, Friday, January 5.
Recently, our OneBeacon Government Risks team attended, sponsored and exhibited at the PRIMA conference in Baton Rouge, Louisiana. Joe Garcia, Risk Management Specialist, also presented one of the sessions during the conference “Drone Fever—How to Treat It.” Drones have increasingly become a hot topic. During Joe’s session, he discussed the types of drones, how they’re used and how to implement the usage of drones into communities. It was a great opportunity for the team to network with their agents and clients.
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.
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.
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.
What’s the coolest part of your insurance job? Insurance journal wants to know!
Insurance Careers Movements has partnered with Insurance Journal to launch a careers contest aimed at insurance professionals who are 40 years old and under. Contestants are encouraged to be creative in submitting photos and short videos to share their experiences!
Participants will be entered to win a prize drawing for a one-year all-access Insurance Journal Academy Membership and an Amazon Echo. The deadline is November 16 and winners will be announced on December 4.