September 22, 2021
The answer is yes, which is why it’s important to practice good cyber risk management. Cyber thieves love employee personnel records. With the information they steal from Social Security numbers, birth dates, work history, bank account information and health information, they can do a lot of harm and “earn” a lot of money. As an […]
September 10, 2021
Insurance companies have been denying COVID-related business interruption claims unless the policy specifically includes damage from viral contamination. Attempts in Congress and state legislatures to pass legislation forcing insurers to cover COVID-related losses have been resisted by insurers who point out that paying such claims would make many companies insolvent. The National Association of Insurance […]
August 25, 2021
Commercial surety bonds can generally be divided into five types of bonds: License and Permit Bonds: Required by federal, state, or local governments as a condition for obtaining a license or permit for various occupations and professions. License and permit bonds include auto dealer bonds, mortgage broker bonds, contractor license bonds, and surplus lines broker […]
August 13, 2021
When insurance companies started offering cyber insurance a few years ago, it was to take advantage of what seemed like mostly just a marketing opportunity. In exchange for taking on a minor risk, the principal aim was to capture premium dollars. That was then. A new report from insurance credit rating agency A.M. Best calls […]
July 26, 2021
Surety premiums are only a fraction of property/casualty premiums ($8.6 billion versus $633 billion in 2019), but sureties play a critical role in our economy. According to the Surety & Fidelity Association of America (SFAA), surety contracts protect over $9 trillion in assets. Surety bonds and insurance policies both provide financial security, but in very […]
July 15, 2021
Latest EEOC guidance aims to help employers and employees understand how federal employment discrimination laws apply to mandatory vaccinations … and the rights and responsibilities of employers and employees at work during the pandemic. The U.S. Equal Employment Opportunity Commission (EEOC) on May 28th posted updated and expanded guidance related to the COVID-19 pandemic. It […]
June 24, 2021
More U.S. motorists are getting worried about possible cyber-attacks on their connected vehicles, a survey by HSB, part of Munich Re, reported recently. Some even believe a hacker could confront them over their car audio systems or disable automotive safety features. The HSB poll by Zogby Analytics found that 37 percent of consumers who responded […]
June 10, 2021
A majority of the claims involve an allegation of wrongful termination. Since the beginning of the pandemic, well over two thousand employment complaints have been filed as of April 7, 2021. Most claims involve disability leave, accommodation, discrimination/harassment, retaliation/whistleblowing, and wage and hour claims, according to the COVID-19 Employment LitWatch from Jackson Lewis, P.C. LitWatch […]
May 21, 2021
Millions of counterfeit masks have been seized by federal agents and millions more are likely still in use. Liability and health risks from counterfeit PPE (personal protective equipment) masks is a growing problem. Federal agents and others have seized more than 11 million counterfeit masks, including the N95 masks used in hospitals. According to the […]
May 7, 2021
Current federal law makes access to insurance products by cannabis businesses illegal. The Clarifying Law Around Insurance of Marijuana (CLAIM) Act of 2021 has been reintroduced by U.S. Senator Bob Menendez of New Jersey, a senior member of the Senate Banking Committee and chairman of the subcommittee that oversees the insurance industry. The CLAIM Act […]
