Industry News

COVID-19 Insurance ​​​​Coverage Cases are Hitting Appellate CourtsBusinesses have filed nearly 1,700 lawsuits for business interruption coverage claims following lockdowns in 2020 and there are now 120 cases on appeal, in both state and federal courts, that allege insurance companies wrongfully denied coverage for pandemic-related business interruption claims. Colonial ​​Pipeline Hack: How a Cyber Policy May Have RespondedNew reports indicate that Colonial did have cyber insurance, but how does a cyber policy work in the event of a cyberattack? Learn how important cyber coverage really is by reviewing this current cyber attack.NCCI report: Workers' C​omp System 'Stronger Than Ever'When excluding COVID-19, total workers' comp claim…

​Does Government Seizure of Prop​​erty Constitute a 'Theft' Claim?Question: We have an insured with a homeowners insurance (HO3) policy, and she recently filed a theft claim for 350 pounds of hemp that she had stored in her home. She claims that the state's Department of Agriculture, state police, and the local sheriff conspired to steal her hemp worth a large amount of money that she had been growing to sell. How do you think the policy would respond?  Workers' Compensation N​​umbers Indicate Strong Performance During 2020 PandemicBecause of job losses and shrinking payrolls during the pandemic recession, the workers' compensation industry's net written premium dropped…

New York Warns of Supply Chain​ Attack Dangers in Recent SolarWinds ReportThe next great financial crisis could come from a cyber attack. At least, that's according to New York State Department of Financial Services (DFS) Superintendent Linda Lacewell in a statement regarding DFS' recent report outlining its investigation into the SolarWinds attack. The report summarizes the attack, the response by DFS-regulated companies and key measures to prevent future events of a similar nature.​Insurance 'The Final Safety Net' in Cyber​ Risk ManagementCyber insurance can serve as “the final safety net" for your agency in the worst-case scenario that something happens to you. It cannot act as…