Specialty Insurance Blog

The Cyber Risk Insurance Market

There has been significant commentary on the market for Cyber Risk insurance (see our prior post here), some positive and some commentary not so much. We provide Cyber Risk insurance to a wide range of small to medium sized organizations utilizing a range of insurance markets, and we see a very robust market for coverage. It does take some effort and expertise to navigate the market, and as a wholesale broker we support our retail insurance agency clients in providing cyber risk insurance. Our key points on the current market: Many insurers provide Cyber Risk Insurance Coverage is reasonably priced Cyber Risk Insurance can be comprehensive, but not all forms are Forms vary considerably and can be tailored to a... Read more →

Cyber Risk Insurance – Evolving, Complex

Cyber Risk Insurance is a critical coverage for attorneys, and the American Bar Association has a Guide to Cyber Coverage (see here). While the Guide acknowledges the active market for Cyber Risk Insurance, that comprehensive coverage is available, and that coverage changes constantly, the article claims that no one understands the coverage. The article also claims that polices are “too unnecessarily complex for their own good.” We have a different perspective. While cyber exposures are relatively new and changing quickly, and the application of coverage is, in many cases, untested, there are experts in the cyber risk area. And the policies are complex, and for good reason. In some cases they are very comprehensive. Cyber policies cover a wide range... Read more →

EHR Malpractice – Records Risk

The advent of electronic records has established a new opportunity for errors, which some have called Electronic Health Record (EHR) malpractice, and a new exposure for both medical malpractice insurance underwriters and for Cyber Risk Insurance underwriters. Health records are a critical component of any medical malpractice case, and can be beneficial or detrimental depending on how well the records are maintained. And these health records are all going electronic. Medical practitioners utilize and rely on electronic health records to provide care, and inaccuracies in the records can have significant consequences, both legal and operational. Health records are critical in medical malpractice litigation (see here): In the overwhelming majority of cases, health records are the “single-most important piece of evidence”... Read more →