Many government agencies are turning to cybersecurity liability insurance to help mitigate their IT security risks. As you prepare your insurance representations, it’s key to remember that your answers impact the level of coverage and available policy features…
Key Points:
USI takes a holistic approach to insurance Data and transparency are vital to identifying what impacts businesses Globalization and natural disasters shifted insurance from transactional to holistic
Brian Hunt is a Texas native whose…
We’ve all seen it. Your organization has a contract in place with a key customer, but your obligations don’t necessarily make sense to the people responsible for achieving them. This is especially common with IT-related obligations, and is typically caused by the volume of verbiage addressing IT…
Both “essential” and “non-essential” businesses are experiencing the impact of COVID-19 on their operations and bottom line. Business owners are looking to their commercial property insurance policy as a means of minimizing or recovering revenue shortfalls by filing COVID business interruption…
A severe drop in oil and gas prices, occurring at the same time as the COVID-19 pandemic, has hit the U.S. oil and gas industry with a one-two punch.
Many companies struggling during the current economic slowdown want to know whether their commercial property insurance policies will…
In the wake of the coronavirus (COVID-19) pandemic, many companies want to know whether their commercial property insurance policies will cover losses resulting from business interruptions as a result of the COVID-19 crisis. While there is no conclusive answer at this time, business owners…
Even though changes in Form SF-SAC (Data Collection Form) from the Federal Audit Clearinghouse (FAC) may not sound significant, there are some potential “gotchas” entities should be aware of. Most importantly, you must now include text describing audit findings, the associated corrective action…
On October 16, 2019, the FASB unanimously voted to finalize a set of split deferrals on new accounting rules for credit losses on loans, leases, hedging and long-term insurance contracts. These are four of the most significant new accounting standards introduced in decades. This vote comes amid…
Many companies pay interest on variable rate loans, based on the London Interbank Offered Rate (LIBOR). In response to a series of scandals in which regulators uncovered banks colluding in an attempt to manipulate LIBOR and profit from financial instruments supported by LIBOR, LIBOR will phase…
Most manufacturers, distributors and retailers spend a considerable amount on salaries and bonuses, which means that federal and state unemployment insurance can represent a substantial cost of doing business. Fortunately, although there may be variations depending on the states where you have…
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