The New Threat to Your Officers and Directors: Cyber

| posted in Blog

The top brass at companies are increasingly being held accountable by partners and shareholders for cyber attacks that occur under their watch, putting their directors’ and officers’ personal assets at risk when lawsuits ensue. While actions by officers and directors have always been held under scrutiny, the cyber threat expands their potential liability significantly, according to a new report by Fitch Ratings. And with new regulations that hold organizations accountable for cyber breaches and responsible for remediation, mitigation and recovery from cyber attacks, the onus is even greater now on your directors and officers if they are deemed negligent for…
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Small Firms Increasingly Need Directors and Officers Coverage

| posted in Blog

While directors and officers liability has been traditionally thought of as insurance for publicly traded companies, increasingly it’s smaller companies that account for the largest share of exposure among top decision-makers. A study published by the news website Advisen found that over the past 10 years, small businesses accounted for 70% of all D&O insurance claims. And during that time, these claims increased 300% for small businesses, compared with 200% for large companies and 150% for mid-sized operations, according to the study. Although privately held businesses don’t risk exposure to securities class-action suits, a business doesn’t have to have shareholders…
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