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Non-Profit

Directors and Officers Liability (D&O)

Directors and Officers Liability (D&O)Directors and Officers Liability (D&O) is often confusing for buyers and insurance brokers alike. The marketplace is characterized by a large number of insurance carriers underwriting this coverage, and each of their forms has different terms, conditions, and most importantly, exclusions. Since an “all risk” D&O policy does not exist, there aren’t obvious perils listed and covered like you might find in a property policy. For that reason, it is normally easier to explain the intent of the coverage as opposed to reading the policy line by line.

D&O: A Brief Overview

Here is an oversimplification of what D&O insurance is supposed to do. Read More »Directors and Officers Liability (D&O)

Cyber Liability Coverage for Non-Profits

News of cyber-crime and instances of massive data breaches are increasing each year. The headlines have been grabbed by major data breaches at discount retail chains, restaurant chains, financial institutions, video game developers, health care providers, government agencies and more. The Pew Research Center estimated this year that 18 percent of adults who engage in online activities have been the victims of stolen information, including Social Security numbers, addresses, or banking information – an increase from 11 percent in 2013.

And with each instance comes increased awareness of the need for cyber liability coverage, a painful but important lesson in the ways 21st century crime can infiltrate a business – and its customers’ wallets. These infringements are happening with increasing regularity, breeding mistrust among consumers and wreaking havoc with companies that are left scrambling to pick up the pieces from these financial (and public relations) disasters. As a result, some estimates indicate that cyber liability insurance sales will double in 2014 from $1 billion just last year.Read More »Cyber Liability Coverage for Non-Profits