Today’s blog post is from CAC’s Cyber team. Enjoy! Hard Market The cyber market is officially hard. Having a strong and comprehensive cyber renewal strategy, and a broker with the ability, relationships, and expertise to achieve your goals in a hard market, has never been more important. We saw steady but incremental rate adjustments throughout 2020, and the cyber market has kicked off 2021 having fully transitioned to a hard market; where we might have
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It is 2021, and we are off to an interesting start. I’m going to leave it at that, and not focus on the negative. I’m looking for some good news. And I found a piece of it! Securities Class Action Filings Decrease Securities class action filings were down year over year. According to the Stanford Class Action Clearinghouse, 324 SCAs were filed in 2020 as compared to 402 filings in 2019. I know what you’re
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Bankruptcy and D&O Insurance We have to talk about the “B” word. No one wants to go there. But as COVID-19 continues to wreak havoc throughout the world, we are seeing more companies headed that way. Although the stock market continues to soar, the underlying US economy is sputtering. Bill collectors are still open for business, and certain companies, especially those that were in precarious financial positions before the pandemic (think certain retail chains and
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Property-Related COVID Claims Update: I promised an update on the property-related COVID claims. It is coming! I’ve been focused on SPACs, the deSPAC process, and their respective interplay with D&O insurance. Do you know what all those letters stand for? An Update on one of the Gig Economy’s Thorniest Issue: As mentioned in an earlier post, one of the biggest conundrums facing businesses in the gig economy is the classification of their workers; are they
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We’re taking a break from COVID (but not from social distancing and wearing our masks!) to dig into D&O coverage considerations when it comes to the SPAC/deSPAC transactions. I am honored to have co-authored this article with Doru Gavril and Boris Feldman of Freshfields Bruckhaus Deringer. Introduction: As this article goes to print, there have been over 170 SPAC IPOs in 2020. To say that SPAC transactions are “the hot thing” would be an understatement.
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