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Socially Unacceptable: Social Engineering Crimes Changing Cyber Coverage

Socially Unacceptable: Social Engineering Crimes Changing Cyber Coverage

In an increasingly connected world, many cyber insurers are reporting a significant increase in social engineering claims — particularly at organizations involved in real estate and other financial services. That means retail agents and their insureds can expect to see some changes in the marketplace. As social engineering scams increase, some insurers are reducing cybercrime limits, raising premiums for cybercrime coverage, requiring policyholders to take risk mitigation steps or withdrawing from covering cybercrime altogether.

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Blindsided: Website Accessibility Suits Hitting Businesses

Blindsided: Website Accessibility Suits Hitting Businesses

Businesses in many industries are becoming targets in a wave of liability litigation. Since 2017, courts have considered more than 3,000 lawsuits around the country alleging that defendants’ websites violate the accessibility requirements of the Americans with Disabilities Act and other civil rights laws. Many businesses facing such suits have been unaware that their websites prevent individuals with disabilities from accessing all of their sites’ features, such as job applications or lists of physical locations, as in the case of retail stores or restaurants.

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Do Contractors Have the Coverage They Think They Do?

Do Contractors Have the Coverage They Think They Do?

Do-overs can be good after making a mistake, but for construction contractors, there are a lot of downsides to redoing work. “Ripping and tearing out” construction materials after identifying an error can be costly, delay the completion of a project and damage the contractor’s business relationships. Even worse is the unpleasant discovery that such rework may not be covered by the contractor’s professional liability policy.

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Preparing Clients for Increased Frequency and Severity of Cyberattacks in 2019

Preparing Clients for Increased Frequency and Severity of Cyberattacks in 2019

Week after week, hackers and cybercriminals crank out new phishing campaigns, launch creative digital extortion threats and continue expanding payment card scams. Cyberattacks remain the top concern of businesses, yet, only about 55% of Fortune 500 companies and 35% of small to midsized companies (SMEs) buy cybersecurity insurance, according to PC World. And, recovery from such an attack is costly according to Cisco’s 2018 Security Capabilities Benchmark Study: 54% of all cyberattacks result in financial damages of more than US$500,000, including, but not limited to, lost revenue, customers and opportunities, as well as out-of- pocket expenses.

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State of the Market: Energy

State of the Market: Energy

Much like energy resources themselves, the insurance marketplace for energy-sector businesses has abundant capacity. There is, however, upward pressure generally on rates in 2019, and some tightening in excess liability coverages specifically. To obtain the broadest coverage at optimal pricing, retail agents and their insureds should approach the marketplace in a strategic way and explore options for structuring their energy insurance programs.

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How to Avoid the Uncertainty Mark-up for Catastrophe Coverage
How to Avoid the Uncertainty Mark-up for Catastrophe Coverage
New Florida Law Strengthens Apartment Safety Regulations
New Florida Law Strengthens Apartment Safety Regulations
Cyber Loss Control: Security Scans Have Pros and Cons
Cyber Loss Control: Security Scans Have Pros and Cons
2022 Excess Habitational State of the Market
2022 Excess Habitational State of the Market
Representations & Warranties Coverage Protects M&A Deals
Representations & Warranties Coverage Protects M&A Deals
Possible Insurance Implications of Roe v. Wade Overturn
Possible Insurance Implications of Roe v. Wade Overturn
2022 Energy State of the Market
2022 Energy State of the Market
Private D&O REDY® Index June 2022
Private D&O REDY® Index June 2022
Excess & Umbrella REDY® Index June 2022
Excess & Umbrella REDY® Index June 2022
Cyber REDY® Index June 2022
Cyber REDY® Index June 2022
Property REDY® Index June 2022
Property REDY® Index June 2022
Senior Living Market Easing but Reprieve May be Brief
Senior Living Market Easing but Reprieve May be Brief