Insurance News
-
Are Employers Responsible for Employee Identity Theft?
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 […]
-
COVID-19 Business Interruption Lawsuits Move Through the Courts
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 […]
-
5 Types of Surety Bonds You Might Need
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 […]
-
The Rising Threat of Cyber Risk and How to Control It
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 […]