Tag Archives: Coverage

Are There Holes in Your Cyber Insurance Coverage?

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 …

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Who Should Be Buying an Errors and Omissions Policy?

Providing Professional Services Means E&O Insurance is EssentialProviding Professional Services Means E&O Insurance is Essential

Errors and Omissions (E&O) insurance, which also goes by different names depending on the profession and industry (such as Medical Malpractice or Lawyers Professional Liability or Legal Liability), is essential coverage for physicians, lawyers, architects, insurance agents, real estate agent, mortgage brokers and many other “professionals” and their professional practices. It’s also must-have protection for companies that are not professional practices but …

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External Cyber Security Risks Gain Traction Over Internal Threats

External Cyber Security Risks Gain Traction Over Internal ThreatsHackers, Criminal Syndicates, State-Sponsored Attackers Top Cyber Threats

A new report recently issued by Ernst & Young LLP (EY) reveals that companies increasingly view external cyber security risks as a likely source of threat. This is a shift in viewpoint over previous years when insider threats were seen as the biggest risk. Mind you, employees are still viewed as a significant risk to cyber security but, according to the report, …

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D&O: Shareholders File Suits in More than 90% of M&A Deals

D&O Shareholders File Suits in More than 90% of M&A DealsLawsuits Underscore Importance of Board’s Fiduciary Adherence

A new report released by Cornerstone Research looked at shareholder litigation involving mergers and acquisitions deals from 2007-2013. The report cites that for the fourth consecutive year, shareholders filed suit against public companies in more than 90% of M&A deals valued over $100 million. Moreover, just last year, shareholders challenged 94% of these deals for a total of 612 lawsuits. Also, for the …

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Directors & Officers Liability: A Rise in Whistleblower Complaints

D&O Liability A Rise in Whistleblower ComplaintsReview Directors & Officers Policy Language for Coverage

The U.S. Securities and Exchange Commission (SEC) in its annual report to Congress revealed that the number of whistle-blower tips and complaints under its program increased 7.9% from the previous year to 3,238 in fiscal year 2013. The SEC’s Office of the Whistleblower, mandated by the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, was established in August 2011 and since …

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EPLI: Avoid Common Mistakes that Can Lead to Employment Lawsuits

EPLI Avoid Common Mistakes that Can Lead to Employment LawsuitsEPLI: Shore Up Your Employment Practices Strategy

We often write about employment practices and how new rulings and federal legislation, along with a proactive stance by the EEOC to ensure companies are in compliance with employment laws, have made this area a top concern of all employers. In fact, in a survey conducted by HR Specialists, HR professionals say that “staying abreast of employment laws and regulations” is their biggest …

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Real Estate Agents Reviewing Professional Liability Insurance as Property Market Takes An Upward Turn

Real Estate Agents Reviewing Professional Liability Insurance as Property Market Takes An Upward Turn

Real Estate Agents Reviewing Professional Liability Insurance as Property Market Takes An Upward Turn

As the economy begins to see improvement so does the real estate industry, which experienced a severe downtown when the housing market imploded in 2007. Today, things are beginning to shift, with the U.S. housing market showing signs of sustained recovery. According to a Merrill Lynch Outlook report, housing prices in 2013 are expected to see …

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New Cyber Liability Study Reveals Risk Management Trends, Insights

New Cyber Liability Study Reveals Risk Management Trends, InsightsNew Cyber Liability Study Reveals Risk Management Trends, Insights

An insurer-sponsored study conducted of risk managers, insurance buyers, and other risk professionals across an array of industries for 2012 revealed that board members and those in executive management positions are increasingly recognizing the risks of a wide range of cyber exposures. These exposures include lost or stolen data, violation of privacy laws, intellectual property infringement, social media, mobile devices, …

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Small Business Must Step Up Security Measures for Handheld Technology

Small Business Must Step Up Security Measures for Handheld TechnologySmall Business Must Step Up Security Measures for Handheld Technology

The majority of small business owners allow their employees to use their smart phones and tablets to work, but as we have pointed out in previous blogs, many don’t take actions to keep these devices safe from cyber threats. In fact, in a recent survey conducted by AT&T and the Polytechnic Institute of New York University of 623 small businesses, …

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What is Directors and Officers Insurance

What is Directors & Officers Insurance

What is Directors and Officers Insurance?

Directors and Officers insurance (D&O) is designed to protect a company and its leadership (directors and officers and key executives) against the potential consequences of alleged wrongdoings, such as financial mismanagement, misappropriation of funds, and negligence. A directors and officers policy can pay legal fees, damages, agreed-upon settlements, and some civil penalties. Depending on the policy, you may also get help for investigative costs.…

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