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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...

PERSPECTIVES: Policyholders can use captives to broaden terrorism coverage

By: Matthew J. Howard

Published April 13, 2014 - 6:00am CST

Although policyholders can buy terrorism insurance backed by TRIA, the coverage does not include nuclear, biological, chemical or radiological attacks. To broaden the coverage, policyholders can use their captive insurers to take on the risks; however, careful attention needs to be paid to premiums charged and how the IRS will treat the coverage for tax purposes, says attorney Matthew J. Howard, ...

PERSPECTIVES: 2014 is a pivotal year for reassessment of benefits strategy

By: Amy Bergner and Michael Thompson

Published March 30, 2014 - 6:00am CST

Employers should re-evaluate their role in providing health care coverage and better define the value in their benefits strategy, say Amy Bergner and Michael Thompson of PricewaterhouseCoopers L.L.P.

PERSPECTIVES: Assessing the insurance risks of global warming and climate change

By: James Waller

Published March 02, 2014 - 6:00am CST

With the scientific consensus agreeing that global warming is happening, policyholders, insurers and reinsurers must assess the risks, the most pervasive of which is coastal flooding, and confront the challenges of climate change, says James Waller, research meteorologist at reinsurance brokerage Guy Carpenter & Co. L.L.C.

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Perspectives Guidelines

Business Insurance accepts articles from experts in commercial insurance, risk management and employee benefits management for publication in its Perspectives section. The section is intended to be a forum for readers’ opinions and a forum for the discussion of technical topics that do not lend themselves to news stories. Interested in submitting a Perspective article for publication? Download our Perspective guidelines.