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Your business probably has the same cybersecurity vulnerabilities that Equifax did when they were hacked

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Another major data breach at an American company worth billions of dollars has served to heighten cyber security concerns in businesses of many sizes in many countries. Equifax announced in September 2017 that a massive theft of data from their system had occurred. The failures of Equifax's cybersecurity team resulted in hackers obtaining the personal information of over one hundred and forty-five million of the people whose credit history Equifax tracked.

Bad Faith Breaches And Their Penalties Look Different From State To State

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Insurance companies have a duty to their policyholders to attempt to settle litigation that might exceed policy limits in good faith. This duty means that insurance companies must act honestly, intelligently, and objectively in deciding whether to accept a settlement offer that stays within the policy limits. Failure to do so may result in the insurance company being liable for the entirety of the judgment against the policyholder, even if the verdict exceeds the policy limits.

President Trump Extends National Flood Insurance Program, But Concerns Remain

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In the wake of an aggressive hurricane season doing extensive damage to the southeast part of the United States, many homeowners are realizing that their basic homeowner’s policy does not cover flood damage.  Instead, flood damage insurance in the United States has to be purchased separately.  Most people who have flood insurance policies purchase their policies through the National Flood Insurance Program.  That Program faces a number of challenges moving forward that may affect the affordability of its offerings.

Businesses Need To Be Protected In Many Ways Due To ERISA-Related Risk

As more and more companies face litigation related to their retirement plans, executives naturally wonder how they can best protect themselves and their company from expensive and time-consuming litigation.  Over the past few years, total settlements from retirement plan related litigation have averaged approximately one billion dollars a year.  While this number may pale in comparison to the almost twenty seven trillion dollars held in various retirement assets within the United States, it represents a substantial threat to bottom line of many businesses.

Why You Should Ask Your Roofer For A Certificate Of Insurance

When you are planning to hire a roofer, there are a few things you need to find out about them, and their company, before forging ahead with the work you need done. Your roof is the most important part of a home or business and as such, needs to have a reliable roofing contractor who is licensed and insured handle all work that needs to be done to it. Hiring a bad contractor, or one who is not licensed or insured, can end in having to spend far more than necessary or hiring someone else to fix the mess the first contractor made. Before you hire anyone, be sure you understand the insurance

NSA Leaks are making U.S. Businesses Vulnerable

In the popular imagination, major cybersecurity events involve an elite hacker (or a group of them) employing a singular genius to crack complex computer codes and steal vital secrets or millions of dollars.  The reality is that most hackers use a set of tools available for sale for shockingly small amounts of money.  “Hacker schools” in places like Brazil and Russia can train someone who is relatively computer illiterate to use those simple tools to exploit vulnerabilities and gain access to sensitive information, whether it be trade secrets or personally identifiable information useful for committing identity theft. 

Does Your Policy Lack Coverage Due To Prior Publication Exclusions?

Standard commercial general liability policies and umbrella policies cover what is known as “advertising injury.”  This coverage applies where a company causes damages to a third party through its advertising, either by defamation, violation of copyrights or trademarks, or violations of privacy rights.  As with many types of coverage, however, companies need to understand the exclusions applied to these types of claims to best address their loss exposures.

PA Supreme Court Ruling Changes Future For Workers Comp Cases

In June of 2017, the Pennsylvania Supreme Court overturned a long-standing worker’s compensation law on what seemed like a technicality to many legal outsiders. The decision had the potential to overturn an important part of disability determinations aimed at keeping costs for employers reasonable and will lead to higher insurance premiums for Pennsylvania employers.

[Archive Post] When It’s Broke, Don’t Fix It?! How Constructive Total Loss Changes Common Practice

An older tractor trailer jackknifes on a federal interstate. A qualified mechanic estimates the cost of repairing the tractor trailer at $17,000. Unfortunately, an appraisal on the market value of the vehicle estimates it at $15,500. The insurance company declares the vehicle a total loss and only pays the $15,500 for the estimated value of the truck.

What Is Constructive Total Loss?

When Misaligned Priorities Between Your Business And Insurance Company Leads To A Failure To Settle

Insurance litigation can put commercial businesses in a number of complicated binds.  Often times, the interests of the policyholder and the insurance company providing their defense do not align perfectly.  This part of the reason insurance companies will often provide their policyholders with independent counsel, commonly referred to as Cumis counsel.  These misaligned interests can also present themselves as part of efforts to settle a case.