The marketplace for Kidnap and Ransom (K&R) insurance remained stable and competitive through 2018. Premiums are as low as $400 per million limit for companies with limited foreign exposure (locations or travel). For companies with higher exposures including foreign travel and locations, premium is around $1,000–$3,000 per million of coverage limit. Coverage is broad, but broker expertise is needed to ensure the policy contains all applicable enhancements, such as Workplace Violence, Child Abduction and Cyber Terrorism.
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As we head into 2019, the current state of the R&W insurance market remains very strong. Over the past twelve months, we witnessed continued growth in the use of R&W insurance as it has moved from commonplace to the norm in M&A transactions.
The private and nonprofit D&O marketplace for 2019 has continued the trends of 2018 and can best be described as fragmented. Most insureds experienced flat renewals in 2018, as evidenced in graph 1, with rate changes from -9% to +9%.
2018 was another year of continued consolidation and turbulence in the U.S. healthcare industry. M&A continues at a very brisk pace; maintaining the aggressive trend of over 220 M&A deals per quarter, as has been the case for the past several years, according to Health Research Institute at PricewaterhouseCoopers. This pace of transactions has resulted in an uptick of both new growth opportunities and heightened risk in all areas of the U.S. healthcare industry.
In September 2015, then-Deputy Attorney General Sally Yates announced revised Department of Justice (DOJ) standards relating to individual accountability for corporate wrongdoing.
A year after the #metoo movement began; we are just starting to see some change in overall Employment Practices Liability (EPL) exposure. The statistics point to a trend of potentially increasing exposure that we could see expand over the next few years.
Complex real estate transactions gone awry can produce lengthy litigation. Even low value, frivolous situations can quickly become protracted litigation with large dollars being spent on what seems like endless defense.
Privately held real estate companies often have structures that don’t fit the traditional corporate mold. Understand professional liability in the world of real estate and hospitality.
A few years ago, merger objection suits were the subject of highly charged press. In some cases, merger objection suits resulted in large sums changing hands, a fact not often found in articles about this subject. No matter what the outcome, however, the “wave” of merger objection suits rarely derailed the transaction.
Recently, the U.S. Court of Appeals for the Second Circuit, applying New York law, and the U.S. Court of Appeals for the Sixth Circuit, applying Michigan law, respectively, agreed with an insured that the computer fraud provisions of a crime policy covered the loss incurred when the company’s employees transferred funds in response to a spoofed email.