Company Literature

May 20, 2020

Driving Safety

Driving safely requires a driver’s full and undivided attention. Activities that divert attention from driving impair the driver’s ability to observe dynamic traffic and road conditions and react to potential hazards. Distracted driving may not directly cause an accident, but it can slow reaction time and cause a driver to miss important visual cues – greatly diminishing a driver’s ability to avoid or prevent a crash.

May 19, 2020

Preparing for a Hurricane

As hurricane season approaches, it’s important to be prepared. Use this checklist to help make sure you’re ready.

May 13, 2020

An Actuarial Response to COVID-19

A fundamental tenet of actuarial work is that past experience is predictive of future outcomes. Standard actuarial methods rely on historical loss data to tell us information on how we expect claims to develop; we rely on historical exposures to inform us about yearly volume of operations. When there is a shift in claims handling, exposures, or business operations, actuaries need to know how to respond.

May 13, 2020

COVID-19 Frequently Asked Questions: Wellness Program Incentives

The COVID-19 situation is dynamic and rapidly evolving. The development of a contingency plan for your wellness program incentives can help you and your employees avoid additional changes or last-minute decisions and reduce future challenges that your organization may be facing. Whether your incentive program requires completion of biometrics and labs, physician visits, or completion of certain activities/outcomes, here are a few FAQs to consider as you develop your plan.

May 12, 2020

Brown & Brown Stop Loss Survey for COVID-19 Expenses

Employer stop loss underwriters do not expect that in-force 2020 employer stop loss insurance coverage will be adversely affected by the unexpected COVID-19 expenses. Nevertheless, as COVID-19 impacts covered services, benefit plans, and enrollments, employers and brokers must pay close attention to documenting these changes and notifying their stop loss insurers as required by their policies to ensure that the 2020 stop loss policies respond as expected. Currently, stop loss underwriters do not expect increases in 2021 rates for specific excess or individual stop loss insurance, but they do anticipate that the rates, aggregate retention factors, and benefit limits may be adversely impacted. Unlike larger employers, small group employers and/or those purchasing employer stop loss insurance with lower deductible and attachment points may experience some benefit from stop loss in 2020 but may be materially impacted by any 2021 increases.

Apr 24, 2020

Private Equity Looks to Insurers to Cover COVID-19 Losses

One of the most intensely studied and scrutinized coverage questions arising from the COVID-19 crisis has been whether typical property insurance policies provide coverage for the economic losses, known in insurance parlance as “business interruption” losses, suffered by insureds in the wake of the novel coronavirus pandemic. “Business Interruption” coverage is intended to compensate business owners, including Private Equity portfolio companies, for lost profits that result from covered losses that impact their businesses. Naturally, Private Equity firms, like other insureds, are looking to this provision of their insurance policies for relief in the wake of significant income losses that have resulted from COVID-19 and the government’s efforts to contain it. While insureds have looked to this coverage with hope, insurance companies have taken the position that the Business Interruption coverage found in most policies is simply not designed to indemnify insureds in the current situation. They argue that the coverage typically contains specific elements that make COVID-19-related claims ineligible for coverage.

Apr 23, 2020

Implications of COVID-19 on Your D&O Policy

As a result of the challenges presented by the COVID-19 pandemic, many companies have been tasked with adapting their businesses in order to stay operational. With the economy, society, and virtually all facets of life at a standstill, boards of directors should prepare for the anticipated increase in COVID-19-related wrongful death, business interruption, wrongful disclosures, and mismanagement lawsuits. How the insurance industry will respond is yet unknown, thus leading to a renewed focus on the scope of D&O policies and the protection they provide. Aside from the speed of developments transpiring from this outbreak, one of the biggest challenges for public companies is contending with the evolving COVID-19-related disclosure responsibilities. Disclosure-related COVID-19 D&O claims have already been filed due to allegedly false and/or misleading statements (see Douglas v. Norwegian Cruise Lines and McDermid v. InovioPharm, Inc.). It is reasonable to presume that subsequent D&O claims could potentially involve allegations of mismanagement in the wake of this public health crisis, and it is not difficult to envision allegations for failing to respond sufficiently or appropriately to changing operating conditions.

Apr 10, 2020

COVID-19’s Impact on Representations and Warranties Insurance

How does COVID-19 impact representations and warranties coverage and the associated underwriting process? Generally speaking, insurance carriers have started including exclusionary language in every policy and noting it on every proposal. Certain carriers are attempting to take a more commercial, case-by-case approach when considering exclusionary policy language for COVID-19, even tailoring language for each specific transaction.

Apr 9, 2020

COVID-19 Homemade Face Masks Frequently Asked Questions

To reduce the spread of COVID-19 by asymptomatic or pre-symptomatic individuals, the CDC now advises individuals to wear homemade cloth face masks while in public spaces such as supermarkets and pharmacies, especially in geographic areas of high risk.

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