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"Specialty Insurance Blog" - 5 new articles

  1. Update: Investment Firms & Cyber Crime
  2. Investment Firms & Cyber Risk Exposure
  3. Surplus Lines Market – Valuable
  4. Dentists Threatened by Malware
  5. Trustee Liability & E&O Insurance
  6. Search Specialty Insurance Blog
  7. Prior Mailing Archive

Update: Investment Firms & Cyber Crime

Investment related firms should purchase Cyber Risk Insurance including coverage for loss of money and including social engineering fraud, and practice good risk management.
     

Investment Firms & Cyber Risk Exposure

Investment firms such as Registered Investment Advisors (RIAs) and Broker Dealers (BDs) need compliance and risk management measures to include Cyber Risk exposures and a comprehensive Cyber Risk Insurance policy.
     

Surplus Lines Market – Valuable

The Surplus Lines insurance market provides an alternative for unusual or higher risk insurance unavailable to purchasers from the standard market.
     

Dentists Threatened by Malware

Cyber Risk Insurance is important for dentists: The American Dental Association (ADA) mailed 37,000 thumb drives to members, and some of those drives may have inadvertently included malware.
     

Trustee Liability & E&O Insurance

Trustee liability claims are on the upswing, and trustees should have E&O insurance (professional liability or errors & omissions insurance) for protection. Trusts can be formed for many different purposes (see here, here and here), and the assets held can vary from liquid securities to fixed assets such as real estate. Trustees have a duty to the trust and its beneficiaries, and in some cases to third parties, increasing the magnitude and complexity of the exposure. According to Hinshaw & Culbertson, lawsuits against trustees are up (see here): Trust, probate and estate planning attorneys are charged with legal malpractice and breach of fiduciary duties more than any other single practice area… This escalation in litigation is likely to continue and...
     

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