Archive for the ‘Property & Casualty’ Category

Report cites criminal attacks as primary cause of healthcare data breaches

healthbreachIn the fifth annual Ponemon Institute privacy and security report, cyber attacks were listed as the top cause of healthcare breaches. Officials studied privacy and security trends for healthcare covered entities and their business associates. Over the course of the five years Ponemon has been publishing its annual breach report, criminal activity has grown 125 percent. Officials at the institute discovered 69 percent of healthcare organizations uncovered the breach via an audit or assessment. Forty four percent were discovered by an employee, while another 30 percent were found after a patient complained.

Ponemon stated, “Historically, the main cause of the data breach was the negligence or incompetence or system glitches within the organization, not necessarily criminal activity. This year, criminal activity was the number one cause.” Forty-five percent of respondents in the report claimed criminal attacks were directly responsible for Read more…

The inherent risk surrounding nutraceuticals

May 20, 2015 Leave a comment

pills2Nutraceuticals, a $30 billion industry in the United States, come in the form of capsules, bars, drinks, lotions, pills, and powders. The medical and therapeutic benefits they claim to offer vary from renewed sexual drive, to enhanced athletic performance, to fewer wrinkles. Many are nutritional supplements which, according to JAMA Internal Medicine, were taken by 45 percent of people to “improve” and 33 percent of people to “maintain” overall health. However, only 23 percent of products were recommended by a healthcare provider.

When taking dietary supplements, bear in mind that they are not required to be tested or registered with the United States Food and Drug Administration (FDA). The FDA’s job in oversight is primarily registering facilities, confirming those facilities are operating within proper manufacturing practices, and investigating products after they hit the shelves. Nutraceutical companies may assert that their product has been Read more…

The significance of U.S. wind power in the present and future

wind_turbinesAccording to data released in March by the U.S. Department of Energy’s (DOE) Energy Information Administration (EIA), wind energy produced 4.4 percent of all of the U.S.’s electricity in 2014, and retained its position as the fifth largest source of electricity in the country. Renewable energy sources, including hydropower, now produce over 13 percent of the U.S.’s electricity, with wind power contributing a third of that amount. Wind power is also proving to be a cost-effective solution for states and utilities to limit pollution, as the American wind fleet has reduced carbon dioxide pollution by approximately 125 million metric tons, which is equivalent to 26 million cars worth of carbon emissions.
Read more…

Balance risk and reward in the medical marijuana business

You are an entrepreneur engaged in an emerging industry dominated by people who know how to start, run, and grow a successful business. Initiative, passion, and accepting risk are on display in your world every day. Without risk – rewards are diminished.

Part of accepting risk is assessing what you can control, and what is beyond your control. Risks related to finances, operations, reporting, compliance, governance, strategy, and so on may be more in your control and allow for greater risk assumption based on greater understanding. Other risks related to the actions of partners and employees, regulators, customers, and a myriad of unknown elements may be completely out of your control, and must be considered in a different way. Read more…

Exploring the risk of electric vehicles

The benefits of electric cars may be widely known, but the risks are often not talked about. There have been a few areas worth exploring when it comes installing charging equipment, how homeowners policies respond to charging stations and more importantly how drivers are treated following an accident.

With the increase of electric vehicles on the road over the past few years, the National Fire Protection Agency (NFPA) has begun to train firefighters across the U.S. on how to approach and handle these unique cars when they are involved in accidents. Electric vehicles are tricky because it is difficult for emergency responders to hear whether the engine is on or off. Attempting to free a person who is trapped within a running electric vehicle could potentially cause electrocution. Read more…

Takeda Pharmaceutical agrees to settlement concerning diabetes drug Actos

gavel_pillsOn Tuesday April 28, Japan’s Takeda Pharmaceutical agreed to a $2.4 billion settlement involving thousands of lawsuits from patients and their family members claiming that the company’s diabetes drug Actos was responsible for causing bladder cancer. Takeda stated that this settlement would resolve the majority of product-liability lawsuits linked to Actos, but a $2.7 billion charge against earnings will be necessary to cover the settlement and costs for defending the outstanding cases.

Takeda, however, did not admit liability. The company’s reason for settling was to “reduce the uncertainties of complex litigation,” and stated that the claims brought forth in the lawsuit were without merit. Takeda also added that Actos’ benefits offset any risks caused by the drug, which is sold in the United States and other countries. Read more…

Insurance industry leads the way for cyber best practices

April 27, 2015 Leave a comment

computers_techIt was reported earlier this month in the Wall Street Journal that many Corporate Information Security Officers (CISOs) are turning to the insurance sector for assistance and guidance when it comes to understanding cyber security.

Normally late to the party, insurance carriers tend to thoroughly examine years and years of loss experience in order for actuaries to set the rates for new areas of risk. But it is not the case when it comes to the rapidly developing area of cyber threats. Instead it is the insurance sector that many are turning to for guidance on how to deal with the uncertainty of cyber security. Read more…


Get every new post delivered to your Inbox.

Join 209 other followers