News & Analysis as of

Insurance Industry Risk Mitigation

Hinshaw & Culbertson - Privacy, Cyber & AI...

NYSDFS Issues Final Circular for Insurers on Artificial Intelligence and External Data Use

On July 11, 2024, the New York State Department of Financial Services (NYSDFS) adopted a final circular about the "Use of Artificial Intelligence ("AI") Systems and External Consumer Data and Information Sources in Insurance...more

DRI

The Jenga Effect: Avoiding Traps in Policy Limit Demands & Balancing Liability Excess Insurance Towers

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In the intricate landscape of catastrophic trucking cases and the interplay of multiple layers of liability insurance can resemble a precarious game of Jenga. Each move carries the potential to destabilize the structure,...more

DRI

Young Lawyers: Raising the Bar - Preventing and Defending Bad Faith Lawsuits

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Bad Faith in Context - Bad faith most commonly arises in one of three different contexts: (1) in a claim that an insured brings against its own insurer; (2) in a claim that a third-party makes against a policyholder that...more

K&L Gates LLP

PFAS and Other Emerging Alleged Contaminants Litigation: Mitigating Risk Through Insurance

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The United States (US) has seen an explosion of litigation in recent years relating to perfluoroalkyl and polyfluoroalkyl substances (PFAS), referred to by some as “forever chemicals” because they are slow to degrade and can...more

Flaster Greenberg PC

Eight Steps to Recovering Under Your Florida or New Jersey Hurricane Insurance Policy

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The threat of hurricanes is very real for southern states from Texas to Florida and eastern states from Florida to New Jersey, New York, and even Maine during the six-month long Atlantic hurricane season, which runs from June...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Mitigating Risks in Generative AI Integration: The Importance of Indemnification Provisions

In today’s rapidly evolving technological landscape, the integration of generative AI (“GAI”) has become increasingly prevalent across various professions and industries. From enhancing customer experiences to streamlining...more

ASKramer Law

Weather & Climate Risk Management Part II: Weather Risk Management Products

ASKramer Law on

In Part I of this series on weather and climate risk management, I reviewed the context within which organizations seek to manage climate and weather-related risks. With extreme weather events becoming more common, there are...more

Woodruff Sawyer

[Virtual Event] Managing Media Risk in the Age of Social Media Influencers: Risk Mitigation and Insurance Considerations - March...

Woodruff Sawyer on

Influencer marketing has become one of the fastest growing trends in marketing, yet it comes with a growing set of media liability claims. In this webinar, we will contextualize some of the legal liability issues in using...more

Hinshaw & Culbertson - Privacy, Cyber & AI...

A Surge in Illinois Genetic Information Privacy Act (GIPA) Claims Poses Threat to Employers

The Illinois Genetic Information Privacy Act (“GIPA”) was enacted in 1998, and although minimal litigation followed in the years following its enaction, we are now seeing a significant surge in litigation similar to that...more

J.S. Held

2024 J.S. Held Global Risk Report: Weather and Natural Disasters

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The growing frequency and ferocity of major weather events and natural disasters have pushed the climate change discussion to the forefront of governments and businesses. Droughts, floods, wildfires, earthquakes, and volcanic...more

J.S. Held

2024 J.S. Held Global Risk Report: New Laws Addressing the Risks and Rewards of Artificial Intelligence (AI)

J.S. Held on

The race to develop AI and calls to regulate it are heating up around the world. In November 2023, 28 countries, including the United States, United Kingdom, China, and the European Union, met and pledged to work together to...more

Adams and Reese LLP

Operation Litigation: Top Tips if Your Business is Threatened with a Lawsuit

Adams and Reese LLP on

We continue to provide legal resources for our military veterans returning to the workplace in our monthly “Vets to Ventures” series. Previously, we have discussed how skills acquired in the military translate into becoming a...more

J.S. Held

Disaster Reduction: Key Insights for Risk Managers & Corporate Executives

J.S. Held on

The need for comprehensive disaster risk management has never been more evident. In recent years, major storms, earthquakes, wildfires, tornados, derechos, and other destructive large-scale events have been significant....more

Skadden, Arps, Slate, Meagher & Flom LLP

The Standard Formula: A Guide to Solvency II – Chapter 2: Reinsurance and Risk Transfer

The primary function of an insurer is the assumption and management of insurance risk. Very commonly, this will involve an insurer passing (or ceding) risk to other (re)insurers or protection providers in the relevant market....more

Foley & Lardner LLP

Navigating the AI Frontier: Legal and Operational Insights Into Generative AI

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In our ever-changing technological environment, artificial intelligence (AI) is beginning to exert its influence on numerous sectors, revolutionizing our approach to work. As businesses and organizations worldwide adopt...more

Lowenstein Sandler LLP

Call Me, Maybe? The Stealth Disappearance of Social Engineering and Fraudulent Instruction Coverage

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Today on Don’t Take No for an Answer, Lynda A. Bennett and Eric Jesse discuss the stealth disappearance of social engineering and fraudulent instruction coverage, and what you can do to make sure you have insurance coverage...more

Seward & Kissel LLP

"An Ounce of Prevention"...How to Reduce the Risk of Litigation and Enforcement Proceedings

Seward & Kissel LLP on

To paraphrase what Ben Franklin may have been alluding to nearly 300 years ago in his famous quote, often the best approach when it comes to reducing the risk of litigation and government enforcement proceedings is to take...more

Clark Hill PLC

[Webinar] Insurance Considerations for Deploying AI/ML Tools and Technologies - July 12th, 9:00 am PT

Clark Hill PLC on

The use of Artificial Intelligence and Machine Learning technologies can improve operational efficiencies and enhance business innovation. But AI/ML tools also present certain use-case-specific risks, such as copyright and IP...more

Goldberg Segalla

[Webinar] Product Liability Series: Containing Nuclear and Thermo Nuclear Verdicts - May 30th, 12:00 pm - 1:00 pm EDT

Goldberg Segalla on

As jury verdicts across the country are on an upward trajectory into the hundreds of millions and in some cases billions of dollars, this calls for a different litigation and trial strategy to contain the awards and minimize...more

Woodruff Sawyer

Property and Casualty Risks Faced by Data and Analytics Service Providers

Woodruff Sawyer on

With the explosive growth of data over the last decade, a new industry has emerged: data and analytics services. In an article published in December 2022, Acumen Research and Consulting estimated the global size of the...more

Mitchell, Williams, Selig, Gates & Woodyard,...

National Association of Insurance Commissioners (NAIC) 2022 Summer Meeting Summary

The Mitchell Williams Insurance Regulatory team of lawyers recently attended the National Association of Insurance Commissioners (NAIC) 2022 Summer National Meeting which was held in Portland, Oregon on August 9-13th. We have...more

Eversheds Sutherland (US) LLP

The Task Force on Climate-related Financial Disclosures: Emerging climate change disclosure principles for the insurance industry

As concerns about the ecological and financial impacts of climate change have grown in recent years, so has the interest of insurance regulators in the exposure of the insurance industry to the risks raised by climate change...more

Miller Nash LLP

[Webinar] Cannabis, Insurance, and Risk Management: Tools to Prevent Loss and Make Insurance a Profit Center - March 29th, 12:00...

Miller Nash LLP on

Cannabis operators and ancillary service providers face mounting losses and liabilities from theft, cyber-attacks, natural disasters, product recalls, text marketing, and employment wage and hour issues. In 2022, risk...more

Lowenstein Sandler LLP

How Patching log4J Can Mitigate Regulatory and Insurance Issues

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A major software vulnerability (known as Log4j or Logshell) continues to have a major impact on many industries, causing insurance carriers and regulators to take notice. In the latest episode of Lowenstein Sandler’s...more

Eversheds Sutherland (US) LLP

The Task Force on Climate-related Financial Disclosures: Emerging climate change disclosure principles for the insurance industry

As concerns about the ecological and financial impacts of climate change have grown in recent years, so has the interest of insurance regulators in the exposure of the insurance industry to the risks raised by climate change...more

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