Cantor Insurance Group, a unit of Cantor Fitzgerald, has signed a deal with the creators of Wellnet's Point2Point service to develop a buying tool for corporate health insurance. Cantor (no relation to Republican Congressman Eric Cantor) signed the deal with HealthCare Interactive, a Maryland software developer, which promises a HIPAA-compliant platform like the one it delivered WellNet, a fast-growing Maryland-based benefits company which supports employers controlling employee health care data. WellNet owns a majority of HCI. Cantor Insurance, founded in 2005, says it "operates a number of companies that broker insurance products, trade and service life settlements, and advise clients on insurance-related financial products" but has no page of its own on the Cantor.com Web site. HealthCare Interactive claims its application can save companies 15% on their health care costs using "predictive modeling, information sharing, and intelligent Web services." Among its services is … [Read more...] about Cantor Insurance expands benefits counseling with Wellnet unit
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If your company were hit with a cyber attack today, would it be able to foot the bill? The entire bill, including costs from regulatory fines, potential lawsuits, damage to your organization's brand, and hardware and software repair, recovery and protection? Slideshow: Quiz: Separate Cyber Security Fact From FictionIt's a question worth careful consideration, given that the price of cyber attacks is rising at an alarming rate.The second annual Cost of Cyber Crime study, released last August by the Ponemon Institute, reported that the median annualized cost of detection of and recovery from cyber crime per company is $5.9 million -- a 56% increase from the 2010 median figures. The costs of cyber crime range from $1.5 million to $36.5 million per company.A growing number of insurance companies are offering cyber protection in the event of breaches and other malicious data attacks. But so far, they're having some difficulty making their case. Surveys show companies have yet to embrace … [Read more...] about Cyber Insurance Offers IT Peace of Mind — Or Maybe Not
The Electrical Reliability Council of Texas earlier this year decided to make double sure that the data network behind the power grid serving Texans stays up.In February, the company put in a data replication system that allows sites in Austin and Taylor to back up each other around the clock over two different high-speed paths.ERCOT represents the Texas portion of the three U.S. power grids and administers the flow of electricity across 37,000 miles of transmission lines serving up to 7 million customers."Responsibility for the reliability of 85% of the Texas power grid is a task we take seriously," says Lynn Wyatt, manager of systems engineering and administration. "To ensure this, we feel it's necessary to have redundant sites with enough physical separation so that any one contingency or disaster is unlikely to impact both locations."ERCOT also has redundancy built in within each location "so that a localized issue, such as hardware failure for a server, does not take that site out … [Read more...] about Electricity group puts charge into net backup
Heartland Payment Systems figured it was in pretty good shape when it took out a $30 million cyber insurance policy. Unfortunately, the credit card transaction processor was the victim of a massive data breach in early 2009 that resulted in losses estimated at $145 million. The insurance company did pay Heartland the $30 million, but the company was on the hook for the remaining $115 million. The data breach quizSo, is cyber insurance worth it? Is it right for your company? What type of coverage should you get? How much is enough? And what are the gotchas to watch out for?The first point to understand is that standard business insurance does not cover data breaches or almost any other loss involving data. Standard insurance covers tangible losses and damage. Data isn't tangible.For that distinction you can thank American Guarantee & Liability Insurance Co. vs. Ingram Micro Inc., a U.S. District Court ruling in Arizona in 2000. The court said that a computer outage caused by a … [Read more...] about Got Cyber Insurance?
In addition to milk, bread and aspirin, consumers may soon be purchasing their health insurance at a nearby store, according to industry experts.That's because the federal government is mandating that by 2014 states set up public health insurance exchanges (HIX) to create more industry competition and consumer choice.And to get ahead of the public exchanges, private insurers are looking to set up their own private ones -- in the form of in-store kiosks and online sites where consumers and businesses can compare plans based on price and coverage.The Congressional Budget Office estimates that 12 million consumers will buy health insurance in the exchange market in 2014, with that figure rising to nearly 28 million people by 2019.Every state must build and operate an HIX with multiple points of contact, including paper-based systems, phone lines and and online channels where any qualified individual can shop for and buy health insurance. People will also be able to use the exchanges to … [Read more...] about Coming to a Store Near You: Health Insurance Exchanges
The Patient Protection and Affordable Care Act (ACA), which the Supreme Court found constitutional last month, requires all states to roll out health insurance exchanges where consumers can compare in one place plans based on price, deductibles and benefits.Two central elements of the ACA affect states: they have to set up the health insurance exchanges (HIXs) and take part in a Medicaid expansion.Massachusetts was the first state, and it is still only one of a handful, to have already implemented a HIX. The commonwealth created its HIX -- called HealthCare Connector -- six years ago, so it has had plenty of time to refine it.And yet, Scott Devonshire, CIO at HealthConnector, knows federal guidelines for HIXs will require a significant IT upgrade, even for a mature system such as his."There are a lot of nuances involved in the ACA-compliant exchange," he said. "We're really working closely with the federal government to get guidance on policies. We've had a functioning exchange over … [Read more...] about States Now Under the Gun to Implement Health Insurance Exchanges
Salesforce.com recently celebrated its 15th year in existence, and as the SaaS (software-as-a-service) vendor races toward US$5 billion in revenue its influence on the industry is being felt more than ever. At the same time, some signs indicate that Salesforce.com is having a few growing pains, as well as showing some trappings of the mega-vendors it once mocked with its "End of Software" marketing campaign.Fifteen years is a significant length of time, and Salesforce.com has certainly kept itself busy so far. Here's a look back at the company's long-term influence on the software industry, a snapshot of where it stands now, and a look into what its future may hold. [ Get the scoop on the state of the cloud with InfoWorld's "Cloud Computing Deep Dive" and "Cloud Applications Deep Dive" special reports. | Cut to the key news for technology development and IT management with the InfoWorld Daily newsletter, our summary of the top tech happenings. ] The PastDefining the cloud: … [Read more...] about Salesforce at 15: Industry disruptor wards off midlife crisis
It's common knowledge that raising kids costs money, but a new report by several leading health care organizations in the U.S. suggests that the high cost of delivering a baby is too high for individuals and employers. The report argues that the high rate of cesarean section births in the U.S. is driving up the cost of birth for those with private insurance as well as those insured through Medicaid. “Not only do unwarranted C-sections create great health risks for women and babies, this study shows that they also dramatically increase costs for employers and, through Medicaid programs, state and federal budgets,” said Maureen Corry, executive director of Childbirth Connection, a national not-for-profit focusing on maternal health care. The findings were issued by several organizations, including the Childbirth Connection, Catalyst for Payment Reform, and the Center for Healthcare Quality and Payment Reform. Corry noted that of the 4 million babies born each year in the … [Read more...] about Childbirth’s Cost Too High, Groups Say
Perhaps the most terrifying part of starting a new business is wondering how and if you’ll be able to provide health insurance for yourself and your employees. New health care legislation is expected to make it easier for small businesses to afford health insurance for the short term. However, finding the right insurance company can still be a challenge.If you decide to purchase small group health insurance , the first thing you should do is check with your state to determine the laws regarding what you are required to offer to your employees. While you are most likely not obligated to offer health insurance if you have fewer than 50 employees, you may find that having a health insurance package allows you to attract higher caliber employees.Offering health insurance does not mean that you are required to pay for it in its entirety.Most small businesses share the cost of health insurance with their employees and deduct the employees’ contributions from their … [Read more...] about How Do I Buy Health Insurance for My Small Business?
Quitting your job to start a new business can be exciting, but it's also a huge financial burden if you don't have a lot of money saved up. Taking on a part time side business could help ease the strain on your wallet, and help you gain some other skills while you transition into entrepreneurship. If you're passionate about your business idea and willing to do the necessary research (including obtaining any necessary certifications), you can make your entrepreneurial dreams a reality. Here are 15 business ideas perfect for aspiring part-time entrepreneurs. Living in an area with a lot of bars, restaurants and nighttime activities can be beneficial to someone looking to make a few extra bucks. If you have a valid driver's license, proof of registration and car insurance, your car may be Uber-eligible. For those looking to spend some of their extra time driving others around, and make extra money while doing it, this should be … [Read more...] about 15 Part Time Business Ideas