Company Literature

Feb 3, 2021

2021 Cyber Market Update

In 2020, the cyber insurance market was met with continued negative loss trends, particularly with respect to ransomware as well as the sheer number of records exposed. As a result, in 2021, Insured can expect market reactions to include additional information required in the application phase, increased premiums increased retentions and/or co-insurance requirements, reduced capacity […]

Jan 27, 2021

2020 Hospital Workers’ Compensation Benchmark Study

This is Beecher Carlson’s 9th edition study of workers’ compensation claim trends for hospital organizations across the country. Beecher Carlson launched these benchmark studies for the hospital industry in 2009 working with leaders from the risk management and employee safety community. The objectives were to analyze loss and exposure data from workers’ compensation losses to support an effort […]

Jan 13, 2021

SolarWinds Hack: A Perfect Storm Cyber Hurricane or a Wake-up Call of What Could Come?

While the full details and broader impact of the SolarWinds Orion hack are still unfolding, one thing is known for sure; the impact of this wide-spread and potentially devastating attack by a highly sophisticated adversary could have easily become the worst-case scenario. Without regard to industry, geography, organization size, or any other discernable commonality, other […]

Dec 17, 2020

Ransomware and Market Reaction

The increase in ransomware attacks over the last two years has been dramatic. Costs of attacks and payments have increased significantly, and the sophistication of the malware has increased. Ransomware claims increased 239% from 2018 to 2019 Cost of ransomware payments increased 228% from 2018 to 2019 Average ransomware payments increased 31% from Q2 2020 […]

Nov 18, 2020

A COVID-19 Vaccine and the Role of Employers

As COVID-19 clinical trials move closer to FDA approval, and the nation readies itself for a vaccine(s), employers are starting to think through how to best prepare operationally and support their employees from both an education and access perspective. This paper examines at a high level the science and process associated with vaccine development and approval and identifies the areas employer plan sponsors will need to contemplate as the vaccine becomes widely available. It is important to note that the data and the opinions reflected in this paper are captured in a point in time and could change rapidly based on the environment. For example, there could be some surprise vaccine entrant to the marketplace that is approved ahead of current projections, or there could be clinical trial data released next week that could change the course of vaccine development and timing.

Jul 31, 2020

Corporate Diversity and Inclusion Initiatives: Can Failure Lead to Litigation?

In light of recent racial-justice protests, many companies have shared their diversity and inclusion initiatives and policies to help address the underrepresentation of women and minorities in corporate leadership positions. In doing so, however, many companies have also found themselves subject to litigation for failing to enact meaningful change. Following a similar pattern, Qualcomm was recently named in a shareholder derivative lawsuit for failing to follow through on its diversity initiatives. The action against Qualcomm mirrors lawsuits filed against other companies such as Oracle and Facebook, where shareholders are demanding accountability in a company’s diversity and inclusion policies among its senior leadership and board members.

Jul 6, 2020

COVID-19 Workplace Safety

Section 5(a)(1) of the Occupational Safety and Health Act of 1970 is commonly known as the General Duty Clause. The General Duty Clause is intended to give the Occupational Safety and Health Administration (OSHA) authority to address workplace hazards for which no occupational safety standard currently exists. Examples include heat-related illness, workplace violence, and most recently, airborne transmissible disease (COVID-19). The General Duty Clause requires that “Every employer shall furnish to each of his employees employment and place of employment which are free from recognized hazards that are causing or are likely to cause death or serious physical harm to his employees.” Certainly, recent events of the coronavirus pandemic have introduced new recognized hazards across many workplaces and employers are moving into new areas for safety programs and measures to effectively protect workers in this new environment of business re-opening and recovery.

Jun 25, 2020

Proactive Preparation for Civil Unrest and Rioting

The ability to gather and peacefully protest is a long-standing and treasured American tradition. License for citizens to express dissent and call for actual or perceived wrongs to be remedied is among the cornerstones of the American democratic system. Occasionally, emotion and fervor may escalate the peaceful protest into civil disorder and chaos. Any number of events can prompt civil disorder and the ensuing violence and damage to property is, in many cases, significant. Riot, vandalism, looting, and arson can result in catastrophic level insurance losses for individuals, property owners, and business operators.

Jun 22, 2020

Navigating Hurricane Season with Beecher Carlson

As of mid-June 2020, three named storms, Arthur, Bertha, and Cristobal, have formed in the Atlantic. The first two occurred prior to the official June 1 start of the annual Atlantic hurricane season, and the third became a named storm shortly thereafter. With these early season storms and predictions for an above-normal hurricane season, it is important to prepare. According to the National Oceanic and Atmospheric Administration’s Climate Prediction Center, we can expect “13 to 19 named storms (winds of 39 mph or higher), of which 6 to 10 could become hurricanes (winds of 74 mph or higher), including 3 to 6 major hurricanes (category 3, 4 or 5; with winds of 111 mph or higher).”

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