‘Business as usual’
Interconnected risks continue to influence how companies adapt to the new business landscape. Severe weather, cyberattacks, the regulatory environment, and more present exposures that boards of directors must address to protect their companies’ reputations and finances. We’re watching these evolving trends closely to help guide you through these ‘new normals.’
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From cybersecurity exposures and ransomware attacks to M&A volatility and securities litigation, a variety of evolving risks are affecting the professional and management liability market in this post-COVID economy.
We’ve plotted ten critical risks facing businesses today based on the severity and frequency.
Courts have experienced a slowdown in securities-related lawsuits since the beginning of the pandemic, with only 29 cases filed since the initial shutdown. But there could be a rise in COVID-19-related securities litigation on the horizon.
Many believe that shareholders are waiting until the market levels off to litigate in order to have a clearer picture of long-term impact. Although there are so few cases in court today, experts are predicting a rise in COVID-19-related litigation and D&O claims. Here are four factors that may lead to an influx of securities lawsuits in the future.
As ransomware and other cyber-attacks continue to plague businesses, it has become clear that cybersecurity is no longer just an IT function. As the risk of cyber-attacks increases, it is up to the board of directors to ensure that enough time, money, and talent is dedicated to cybersecurity—especially when evaluating how to best protect critical business functions.
Here are five ways the board of directors can support your company’s cyber security program.
Since March 2020, the Small Business Association (SBA) has given out more than $800 billion in PPP loans to help businesses stay afloat during the pandemic. Of the more than $1 trillion in loans the SBA distributed as part of the PPP and Economic Injury Disaster Loans (EIDL), an estimated 5 percent of transactions were fraudulent. Now, as the initial wave of the global pandemic is starting to subside, the Department of Justice (DOJ) is beginning to look more closely at how these funds were being used.
Here are four things businesses should know about the DOJ’s loan fraud investigation and the parameters of D&O coverage.
Healthcare systems vulnerable to cyber-attacks
Ransomware and other cyber-attacks continue to plague business across all industries. However, when it comes to the healthcare industry, often these events affect not only business operations, but patients’ health and well-being.
Medical facilities need to become aware of the interconnected liability risks that ransomware attacks leaves them vulnerable to and what are some of the steps they can take to protect their facilities and patients.
What to know
Keep an eye on these emerging trends
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