The need for robust cybersecurity coverage has never been greater as businesses of all sizes find themselves increasingly dependent on technology and the vulnerabilities of a remote workforce. To help meet the challenge, SterlingRisk Programs, a division of SterlingRisk Insurance, has partnered with the cybersecurity insurance company Elpha Secure to launch Sterling New Age Cyber. […]
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE – Assistant Vice President/Media Editor The insurance industry has long had an image problem. Even though insurance is essential to life as we know it, too often the negative stories, such as claims being denied or delayed, make the headlines. Insurance providers are not always […]
A Channel Harvest Research survey of U.S. independent insurance agencies reveals about half expect to make no permanent transition to working at home when the pandemic is over, and all staff would return to the office. However, 27% said at least some staff would continue to work from home, and 10% said that all employees […]
By Joe Chvasta, JD, CPCU The Insurtech market’s global revenue reached $5.5 billion in 2019 and is projected to double by 2025. (1) Insurtech products are mainly being purchased by individual consumers. Life insurance represents the largest segment with nearly one-half of all 2019 global written premiums for Insurtech, followed by accident and health at […]
Brand Medical Supply v. Unitrin Advantage Ins. Co., 2020 NY Slip Op 50687 (App Term 2d Dept) Many kinds of lawsuits require, or at least employ, expert witnesses on a wide variety of topics, and indeed it seems that for every topic there is an expert somewhere who is willing to testify (and another one […]
Lie on Application Causes Beneficiary One Million In Erin Peterson v. USAA Life Insurance Company, No. 18-1447, United States Court of Appeals Tenth Circuit (May 22, 2020) Ms. Peterson appealed from the district court’s grant of summary judgment to USAA Life Insurance Company (“USAA”). The district court granted USAA’s motion for summary judgment on the […]
By Jane M. Orient, M.D. The dictionary definition of “hype” is a deception or put-on, or promotional publicity of an extravagant or contrived kind. But regarding medical advances, it might be used to refer to hope. Hope, or “false hope,” is something doctors are not supposed to give patients regarding a non-established treatment for a […]
The National Association of Mutual Insurance Companies (NAMIC), the American Property Casualty Insurance Association (APCIA), and the Independent Insurance Agents & Brokers of America, Inc. (Big “I”) unveiled a new customer-focused proposal for a federal program tailored specifically to help businesses meet the financial challenges from future pandemics. The industry-backed Business Continuity Protection Program (BCPP) would provide revenue replacement assistance for payroll, employee benefits, and operating expenses following a presidential viral emergency declaration.
Whether or not a particular policy contains an explicit exclusion for pandemics or some similar condition, misses the point: there is no federal pandemic backstop, as there is for Terrorism. And, by the way, if you follow the early line from the White House, it may have been purposefully motivated, i.e. terroristic in nature.. This […]
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