Below is a collection of important news and reports vital to protecting your company from risk.
Please check back frequently to stay abreast of all the current industry news..
Real estate and construction company principals are invited to join us on June 22 in Boston for an analysis of risk vs reward – how to protect and preserve your company while gaining growth and market share.
The program, to be done in conjunction with law firm Bernkopf Goodman and accounting firm Marcum, will begin late afternoon and will conclude with a cocktail reception. The venue will be the Boston College Club, 100 Federal St.
Please check back for additional details, or call Brent Trethewey at (617) 312-7289.
Coverage in an insurance policy: is it known and agreed upon by the insured at time of issuance?’
The premium due on a policy is known and agreed.
A more important question is whether the coverage in the policy is known and agreed?
The answer to that question is ‘not always’.
A case in point involves use of what is known as a ‘protective safeguards’ endorsement. This is form that insurers use when they want to be able to walk away from a loss when the client does not have ‘up and running’, prior to loss, specific safeguards such as automatic sprinkler systems.
We are involved in a case in which the broker proposed coverage to a client to include a protective safeguards endorsement, applicable to automatic sprinkler systems and fire losses at ALL of the client’s properties in the policy. Unfortunately only A FEW of the properties were sprinklered. Moreover, both the client and broker were not aware that such a provision was in the policy until we pointed it out.
Would a loss have been covered if it occurred at one of the unsprinklered properties? It would likely need to be sorted out between client, broker and insurer in a costly legal battle.
The only way you know your coverage is to read and understand the language.
— Bob Allaire, RAllaire@LicataRisk.com
CYBER RISK –EVOLVING SOLUTIONS
Cyber risk is the reality. Say no more about the threat – now we’re about the solutions!
LicataRisk examines exposures and solutions at the CFO level – the big picture involving assets at risk, liability flows in contracts, and protection via insurance. We also advise and recommend re professionals to engage for hands-on IT security. CFOs want a roadmap for the cyber security effort.
Security Management Partners is an information security and IT assurance consulting firm, selling no product and having no conflict of interest.
Let’s get down to business with two of the most trusted advisors in the cyber risk space:
- Cyber insurance — getting your claim covered
- The insider threat – how to prevent and cover
- Isolating your company from harm while still carrying on your business
- Latest knowledge on password security and other access controls
- Social engineering schemes are everywhere – what to watch, etc.
This event is part of the Risk Advisory Breakfast series. Join a small group of fellow CFOs, board members, legal counsel & other executives for a complimentary breakfast and an in-depth discussion about the risks that face corporations today.
Thursday, March 31st 7:30-9:30 am
The Boston College Club – 100 Federal Street, 36th Floor, Boston, Massachusetts
Seating is limited, and is by invitation
Please RSVP to Brent Trethewey:
BTrethewey@LicataRisk.com or 617.312.7289