Every day there is a new headline about a data breach, sophisticated hacker attack or computer virus. Global losses from cyber-crime are estimated to exceed $400 billion annually. Understanding how your insurance policies may respond, including CGL, property, crime, D&O and cyber liability insurance policies, will help ameliorate an otherwise chaotic environment where policyholders regularly are addressing multiple fronts involving regulators, class action claimants, angry investors, and other stakeholders claiming harm from the result of a breach. This session will outline a road map to navigating the claims environment and key insurance coverage disputes that emerge where cyber claims run the gamut.
5 Things Every Risk Manager Should Know about Representations and Warranties Insurance – Carrie DiCanio
April 30, 2019 from 9:15 AM – 10:15 AM
As representations and warranties (R&W) insurance moves beyond the private equity world into the mainstream, risk managers must become involved in purchasing the right coverage and effectively pursuing claims under these policies. We will discuss essential points risk managers need to know about R&W insurance, including what coverage is available, pitfalls to avoid in purchasing the insurance, and top claims issues, including valuation of loss, the claim investigation process, and litigation essentials, in the event a coverage dispute does develop.
Financial Institutions Insurance – a 2019 Boston Minuteman’s Guide to D&O and E&O Exposures – William G. Passannante
April 30, 2019 from 1:15 PM - 2:30 PM
Are you comfortable with cutting-edge issues that risk professionals face in the insurance market and claims environment for E&O, D&O and related financial services insurance? In a Boston Minute we will cover the liability exposures, the nature of these insurance policies, important exclusions and popular arguments being used when claims are made. We will use an interactive format to permit peer-to-peer learning and address misrepresentation and rescission arguments, as well as the disgorgement defense, coverage for regulatory investigations and penalties, the hammer clause and the cooperation clause.
Reading the Tea Leaves – Ensuring the Fruitful Mediation of Disputed Claims – Peter A. Halprin
April 30, 2019 from 1:15 PM -2:45 PM
Disputed insurance claims are increasingly resolved by mediation. Mediation is a non-binding process involving a neutral who guides the parties to a negotiated resolution. Unlike arbitration or traditional litigation, mediation offers the parties an opportunity to create their own solutions in an informal and collaborative environment. This highly interactive session, involving a mock mediation, is designed to help risk managers understand the mediation of disputes involving professional services. Through the use of a simulated mediation and active audience participation, the “parties” and the mediators will work together in an attempt to resolve a hypothetical claim. Panelists will present a number of roadblocks that are often encountered in the mediation of insurance-related matters, and offer practical solutions for risk managers to utilize. Risk managers will come away from the session with an understanding of mediation, mediators, the advantages and disadvantages of mediation, as well as a primer on mediation strategy. Helping to facilitate the session, the panel will consist of a risk manager, coverage counsel, and professional mediators with insurance backgrounds.
Chinese Tea, American Ships, British Merchants, Native American Disguises: Analyzing Insurance in the Case of the Boston Tea Party – Allen R. Wolff
April 30, 2019 from 1:30 PM – 2:30 PM
On the night of December 16, 1773, more than 40 tons of Chinese tea belonging to the British East India Company was dumped from three American ships into Boston Harbor. While some may think the event was an important stepping stone to American independence, we all know that there were complicated insurance issues that had to be addressed. This session will entertain, inform, and educate. A panel of experts including lawyers and risk managers will analyze the insurance coverage issues arising from the Boston Tea Party and show what it teaches us about risk management and insurance coverage today. Don’t miss this entertaining and valuable session that will explore coverage issues from many different perspectives: the tea owner, the ship owner, the harbor operator, the tea retailer.
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