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PERSPECTIVES: Transatlantic Trade and Investment Partnership must include insurance markets

By: Steve Simchak

Published October 12, 2014 - 6:00am CST

It would be a big missed opportunity if the final agreement of the Transatlantic Trade and Investment Partnership excludes a sector as significant as financial services, says Steve Simchak, director of international affairs at the American Insurance Association. Doing so could leave U.S. insurers in a neutral or even worse position than they are in now. In the months ahead, financial services...

PERSPECTIVES: Businesses should lead disaster resiliency nationwide

Published September 28, 2014 - 6:00am CST

Predicting the weather is a job best left to the professionals, but being prepared for the next storm, wildfire or extreme temperatures can be part of everyone's responsibility. The business community has a unique opportunity to be a linchpin in the nation's resilience against the uncertain challenges accompanying severe weather threats, says Julie Rochman, president and CEO of the Insurance...

PERSPECTIVES: BP coverage dispute tests ‘additional insured’ obligation

By: Christopher C. Loeber and Kelly A. Lloyd

Published July 25, 2014 - 11:27am CST

A Deepwater Horizon-related coverage dispute highlights the need for corporations to square their commercial contracts with their insurance policies. Christopher C. Loeber and Kelly A. Lloyd with the law firm Lowenstein Sandler L.L.P. discuss the interplay between indemnification agreements and “additional insured” provisions and the importance of retaining insurance coverage counsel...

PERSPECTIVES: Data breach notification rules also affect insurers

By: Marc S. Voses and Scott Paris

Published June 24, 2014 - 9:41am CST

Most states require companies to notify potentially affected customers following a security breach that may involve the loss of personally identifiable information, or PII. Several state insurance departments also require they be informed of data breaches at insurance companies they regulate. Marc Voses and Scott Paris of law firm Nelson Levine de Luca & Hamilton L.L.C. discuss the additional...

PERSPECTIVES: Ongoing Ukrainian crisis highlights role of political risk insurance

By: Kirk Pasich and John Heintz

Published June 19, 2014 - 3:19pm CST

The crisis in Ukraine and Russia highlights both the role of political risk insurance and the need to evaluate securing such insurance for companies doing business in other hot spots around the world. Kirk Pasich and John Heintz of Dickstein Shapiro L.L.P. discuss the benefits of buying political risk insurance, as well as the types of coverage available.

PERSPECTIVES: Don't bank on a general liability policy for protection after a cyber attack

By: Timothy D. Kevane

Published June 19, 2014 - 2:00pm CST

As the cyber market continues to grow, the range of insurance options is expected to expand. Now is a good time to move beyond any reliance on a general liability policy for a data breach and look into a cyber insurance product suitable for your business, according to Timothy D. Kevane, special counsel for law firm Sedgwick L.L.P.

PERSPECTIVES: Lawyers need to put cyber security policies in place

By: Richard J. Bortnick

Published June 18, 2014 - 9:30am CST

With the wealth of customer data that they manage, law firms are at risk for data breaches. Richard J. Bortnick, senior counsel at law firm Traub, Lieberman, Straus & Shrewsberry L.L.P., discusses the importance of mitigating data breach risks and the role cyber insurance plays for the legal profession.

PERSPECTIVES: New risks emerge for public entities

By: Joe Caufield

Published June 08, 2014 - 6:00am CST

As the U.S. economy begins to bounce back, and communities across the country start to consider new emerging issues, local governments must shift their focus to include key risks that potentially bring new liabilities and exposures. Joe Caufield, chief underwriting officer with OneBeacon Government Risks, discusses these new public-entity risks.

PERSPECTIVES: Cross-border data breaches create complex regulatory landscape

By: Michael Bruemmer

Published May 12, 2014 - 8:54am CST

Cloud-based data storage and an international economy have combined to make global data breaches a genuine risk. In the U.S., companies face numerous separate state laws regarding how to address a breach, and the international arena becomes even more treacherous. Even multinational companies that have a plan for U.S. breaches often lack an international response plan. Having a reliable response...

PERSPECTIVES: Today’s digital risks require broad cyber insurance coverage

By: Lon Berk

Published April 27, 2014 - 6:00am CST

On the market since the late 1990s, cyber insurance is nothing new. But as the Internet spreads deeper into people's lives, cyber risks continue to grow and evolve well past simple data loss or compromise. Insurance buyers should try to find an insurance form to address their specific cyber needs, including the potential of business interruption, loss of reputation, and even bodily injury and...

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