Criminals steal financial data using IRS website
The Internal Revenue Service confirmed Tuesday that its website had been used by a “sophisticated” gang of criminals to steal data on 104,000 American taxpayers. The breach used a feature of the site called “Get Transcript” which allows users to download multiple tax forms which can be required when applying for a mortgage for example. CNN reports that the thieves attempted to download 200,000 forms and succeeded with around half; 15,000 were then used to apply for tax refunds. IRS Commissioner John Koskinen believes that the main purpose of the attack was to gain financial information that could be used to open lines of credit and bank accounts.
Are Canada’s workplaces damaging our mental health?
Workers in Canada are suffering mental health disorders more than the population as a whole, leading to increased claims on insurance policies and costing businesses in lost productivity. A report from the Conference Board of Canada, sponsored in part by Sun Life, found that prevalence rates are more than 60 per cent higher for workers. Women, young workers and those in the services sector are at particular risk.
Carole Stonebridge who co-authored the report says that although campaigns have helped general awareness of mental health, in workplaces it is still a stigma: “Employers are often ill equipped to deal with employee mental health issues. Given the impact on working Canadians and costs for businesses, this is cause for concern.”
According to the Mental Health Commission of Canada, mental illness accounts for about 30 per cent of all short-term and long-term disability claims in Canada and it is has been estimated that the value of these claims ranges from $15 to $33 billion annually.
Increased terror threat to western nations say risk experts
Aon Risk Solutions is warning that nine western nations are facing an increased threat from terrorists. In its latest Terrorism and Political Violence Map the firm, in conjunction with The Risk Advisory Group, says that Australia, Belgium, Canada, Denmark, Estonia, France, Germany, Ireland and Norway all face greater risk from the rise of Islamic State and Al-Qaeda affiliates. Aon’s Scott Bolton commented: “Businesses need to understand how they can mitigate against this risk in affected countries as well as build terrorism insurance programmes that align more closely with their exposure.”
Insurers express concern over obesity in UAE
Obesity in the UAE has increased to levels that are worrying the insurance industry. A study by Zurich International Life found that 46 per cent of applicants for life or critical illness insurance were deemed overweight while an additional 13 per cent were obese. The insurer’s data showed that 48 per cent of the cash value of claims in the last three years was for heart-related issues, often linked to high body mass index.
European insurance president re-elected
The president of Insurance Europe has been given a further three years in his role after a unanimous vote by the federation’s general assembly. The mandate of Sergio Balbinot, who is a member of the management board of Allianz SE had been due to expire this year.
