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Blog

Posted: February 22, 2016

 The Must-Have Coverage for Plan Sponsors Fiduciary Liability InsuranceEmployee benefit plan vendor selection and compensation arrangements made by an employer or union, association or other employee benefit plan sponsors, fiduciaries and service providers are coming under increasing scrutiny by the Employee Benefits Security Administration (EBSA). While the Employee Retirement Income Security Act of 1974 (ERISA) technically grants plan sponsors and fiduciaries wide latitude to execute these choices, the exercise of these powers also comes with tremendous responsibility. ERISA, …



Tags: Fiduciary Duties fiduciary liability Plan Sponsor Coverage

Posted: February 17, 2016

Cyber Liability Insurance Where You Turn When a Data Breach OccursThe Ponemon Institute, an independent research organization on privacy, data protection and information security policy, estimates that between 2014 and 2015 the cost of data breaches due to malicious or criminal attacks has increased from an average of $159 to $174 per record. With the continuing rise and frequency of attacks and this surge in response expenditures, the potential damage to brand reputation, class-action lawsuits and costly downtime is becoming …



Tags: Cyber Attacks Cyber Liability/Privacy & Network Security Insurance Preventing Cyber-Attacks
Posted in: blog, Cyber Liability

Posted: February 15, 2016

Insuring A Tech Company’s Management Liability ExposuresInformation Technology (IT) firms have a number of management liability exposures that, without the proper insurance coverage, can result in serious financial damage. Management liability lawsuits range from workplace-related issues such as discrimination and wrongful termination, to business practices issues such as misappropriation, financial mismanagement and negligence. Lawsuits can be lodged by employees, customers, lenders, vendors and suppliers, competitors and shareholders.

Unfortunately, many smaller tech companies, including start-ups, mistakenly believe …



Tags: Employment Practices Liability Insurance policy EPLI Management Liability Exposures Tech Company Management Liability

Posted: February 10, 2016

Employment Practices EEOC Takes On Gender Pay Gap with New Proposed RuleLast month, the Obama Administration called for the Equal Employment Opportunity Commission (EEOC) to begin gathering data from federal contractors and other employers with 100 or more workers on pay based on gender, race and ethnicity. The data will be used to identify employers that may be engaging in pay discrimination so that the EEOC can target its enforcement resources where problems may be likeliest to exist. The plan, which …



Tags: Employment Practices Liability Gender Pay Gap Pay Discrimination

Posted: January 27, 2016

Cyber Liability Small Businesses Increasingly Targeted by HackersSmall businesses are increasingly the target of hackers. In fact, according to figures by a major insurance carrier, in 2014, 60% of all online attacks targeted small and mid-size businesses. The reason: Limited security budgets, outdated security and lax employees, which can leave holes easily exploited by ever-more-sophisticated digital criminals.

Indeed, according to many experts in the cyber security field, smaller companies are easier to hack, as they don’t have …



Tags: Cyber Liability Insurance liability Risks small business
Posted in: blog

Posted: January 25, 2016

 

Cyber Crime Telephone TollIn our previous blog, we discussed the need to review your Cyber insurance policy to fully understand the coverage you have and close any potential gaps that may exist. The insurance market, as innovative and responsive as it has been over the years in addressing the emerging risk of cyber and the nefarious and creative ways hackers get at data, is still evolving in this area and continually …



Tags: Crime Policy Cyber Liability Insurance
Posted in: blog, Cyber Liability

Posted: January 22, 2016

Are There Holes in Your Cyber Insurance CoverageIncreasingly more firms are realizing the true value of Cyber Liability insurance to address their exposures to computer fraud or attacks. This goes beyond just large corporations who rank cyber among the top risks they face today. Small and mid-sized businesses in fact are now beginning to understand the extent of their risk and how a cyber incident can not only affect their bottom line but also their reputation among …



Tags: Coverage cyber Gaps in Coverage Holes Insurance liability Security
Posted in: blog, Cyber Liability

Posted: January 21, 2016

Choosing the Right Fit for Your Board of DirectorsIf you’re a private or non-profit company, you may be looking to add to your Board of Directors. This important body sets annual budgets, operational goals, ensures funds are available for those operations, and evaluates the job performance of the CEO. Most boards of directors have several top-level positions responsible for various aspects of the overall operation of the company. The CEO is the highest-ranking member of the board and …



Tags: board of directors D&O Directors and officers Insurance
Posted in: blog, D&O Insurance

Posted: January 13, 2016

 Empowering Employees in the Age of Cyber SecurityCyber security has taken center stage among the issues employers must face head on, including developing policies and procedures to protect themselves against the risk of a data breach. This involves taking a more proactive approach including empowering employees to do more to beef up a firm’s cyber security.

In addition to implementing the latest firewalls, anti-virus software and data encryption, security awareness and training among employees are critical …



Tags: cyber security Employee Empowerment Employee Morale
Posted in: blog, Cyber Liability

Posted: January 11, 2016

Employment Practices Pay Close Attention to California’s New Fair Pay ActCalifornia’s new Fair Pay Act, in effect as of January 1, 2016, requires equal pay, regardless of gender, for employees performing “substantially similar” work – not just “equal” work, as previously was the case. The requirement also extends to different locations run by the same company, not just “the same establishment,” as under the earlier law. In addition, the law protects employees from retaliation if they seek information on wages …



Tags: California Employment Practices Fair Pay Act

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