Ok as a company, you think have insurance to cover you with privacy issues? Not in this case or at least we are waiting for a judge to decide as the lawyers are calling uncle. They want out. You read them all the time, the privacy statements and this kind of says one thing is that one group of lawyers doesn’t want to mess with the legal mumbo jumbo another group created. This is interesting as now we have our real first challenge of the bull shit that we read on on these websites. People are getting tired of it and oh boy I cannot wait for a big suit to come out on this topic as banks and companies are making billions selling our data.
Everybody talks about de-identified data and there’s some value there with what they do but that’s the key, what do they do and what’s left for a sharp query master to work with, a lot more than you think…
Re-Identifying Medical Records All Depends on the Query Master and How Much Money Can Be Saved or Made With Adjusting Risk, Up or Down
I’m glad people some information out there about this too and we had the case with medical records matching on zips and other small bits of information. Now there are some that just use zip codes that are not mining but there was story out to where a store was taken to task there too assuming they were doing the same thing and why would a consumer not be nervous…we have a huge profitable data selling epidemic in the US and it’s starting to crunch portions of the economy.
It’s easy money and the only way to regulate it is to start with an IT infrastructure, called buying a license to #1 find out who they all are and #2 to excise tax them and use the tax money for the FDA and NIH for one. Every day on the web I see article after article with someone crying about the lack of funds, well here’s your answer to help. Now this insurer’s attorneys want out but look what happens with other types of insurers…like your health insurance companies who can’t get enough.
Insurance Companies Are Buying Up Consumer Spending Data-Time is Here to License and Tax the Data Sellers-As Insurers Sell Tons of Data, Gets Flawed Data When Data Buyers Uses Out of Context Too
I just wonder how much money the insurer here, OneBeacon American is making off of their data selling efforts…look at what they underwrite… This sector in particular caught my eye, Technology Insurance. They underwrite medical devices for insurance and Data Privacy. I wonder how profitable that area is today (grin) and what’s required on a claim to cover a breach…nope..didn’t have the right risk management in place, sorry…who knows. Anyway, they want no part of this case with the zip codes being recorded. They said their policies don’t cover this kind of action.
This will be interesting and maybe a warning to those who sell data with their crappy privacy statements as it sounds they will be challenged sooner or later as consumers get mad having to spend more time fixing their flawed data on their own dime while and corporations make billions selling it. BD
OneBeacon American Insurance Company doesn’t want to defend Urban Outfitters Inc. and Anthropologie Inc. in a string of customer privacy lawsuits.
Consumers are suing in California, Massachusetts and Washington, D.C. over the company’s practice of collecting zip codes during credit card transactions — a practice they say is forbidden in those jurisdictions.
In a lawsuit filed Tuesday, OneBeacon said the retailers’ insurance doesn’t cover those privacy issues.
A general coverage policy covering both Urban Outfitters and subsidiary Anthropologie has a $1 million personal and advertising limit and a $2 million general aggregate limit.