<![CDATA[Blog]]> https://www.risk-strategies.com/ en info@risk-strategies.com Copyright 2020 2020-11-28T05:35:02-05:00 <![CDATA[MARKET OVERVIEW: Directors & Officers Liability (D&O) Insurance]]> https://risk-strategies.com/knowledge-center/article/market-overview-directors-officers-liability-do-insurance#When:20:24:34Z In this blog we examine the current market conditions and how best to navigate Directors & Officers Liability (D&O)


Buyers of Directors & Officers Liability (D&O) Insurance should be aware that pricing continues to increase, limits may be further reduced, retentions increased, and some coverage extensions may be removed at renewal.

COVID-19 financial challenges has been the tipping point for D&O insurers. This comes after years of price decreases and increasing frequency and severity of claims – both of which negatively affected insurer loss ratios. These market trends over the past several years, meant we were in a buyers’…]]> 2020-11-24T20:24:34+00:00 <![CDATA[Can You Save Your Art Collection from Climate Change?]]> https://risk-strategies.com/knowledge-center/article/can-you-save-your-art-collection-from-climate-change#When:15:39:53Z This year has been full of major challenges for the fine art world. The global pandemic has forced some galleries and museums to close their doors, art fairs have been canceled internationally, and auctions and exhibitions have moved online. The biggest challenge facing the industry, however, predates COVID-19 and may prove harder to mitigate.

Climate Change and Fine Art

Museums have been worried about the impact of climate change on their collections for several years. Hurricane and wildfire seasons start earlier and produce even more violent storms and infernos than the years previous. Other natural disasters are worsened…]]> 2020-11-12T15:39:53+00:00 <![CDATA[Hurricane Alert - Time to Prepare]]> https://risk-strategies.com/knowledge-center/article/hurricane-alert-time-to-prepare#When:13:56:16Z The 2020 Hurricane Season is extremely active. If you’re in the path and haven’t already taken prep steps, it’s time to get busy. Here are a few ideas and resources to guide your efforts for this and any subsequent storm:

  • Track the forecasts – You’ll need the latest information to know when to act. Improved forecasting technology makes following storm movements and anticipated track easy. The National Weather Service and The National Oceanic and Atmospheric Administration’s National Hurricane Center should be your primary resources.

  • Prepare for wind AND water – Wind speeds get the…]]> 2020-11-08T13:56:16+00:00 <![CDATA[Event Cancellation Coverage Is Available]]> https://risk-strategies.com/knowledge-center/article/event-cancellation-coverage-is-available#When:12:49:30Z No one knows what will happen in the next six to 12 months with the COVID-19 pandemic. Will there be an effective vaccine? Will we see more waves of outbreaks? Will there be a tightening of restrictions limiting public gatherings? Will your event be cancelled?

    In part 1 of our event cancellation blog, we looked at how COVID-19 has been particularly devastating to the trade association industry, where conventions and conferences make up the vast majority of revenue, because of the unprecedented number of event cancellations. Canceling an event equates to huge financial and business costs from lost revenue…]]> 2020-11-06T12:49:30+00:00 <![CDATA[Alert: Coordinated Ransomware Attacks Targeting Hospitals]]> https://risk-strategies.com/knowledge-center/article/alert-coordinated-ransomware-attacks-targeting-hospitals#When:19:52:55Z Cyber threats are looming over the health care industry even as the Coronavirus pandemic is resurging. As noted in this Reuters News story, “Eastern European criminals are targeting dozens of U.S. hospitals with ransomware, and federal officials on Wednesday urged healthcare facilities to beef up preparations rapidly in case they are next.”

    If you click through to the story, you can see the threat is severe – with some hospitals reverting to operating paper.

    The FBI and the Cybersecurity and Infrastructure Security Agency (CISA) did release an advisory this week warning of a wide scale ransomware attack targeting…]]> 2020-10-30T19:52:55+00:00 <![CDATA[The 2020 ballot: What Matters for Insurance?]]> https://risk-strategies.com/knowledge-center/article/what-matters-for-insurance-on-the-2020-ballot#When:14:58:21Z With Election Day just around the corner, Risk Strategies is keeping a close eye on several state ballot initiatives unrelated to the presidential election that could have far-reaching implications for several key industries.

    Cyberattacks have increased significantly in recent years, putting our personal data at risk. The impacts of climate change, and particularly wildfires, continue to become more destructive. And COVID-19, of course, has affected millions of Americans. The ballot measures we’re tracking reflect the changing concerns of voters in response to these conditions.

    Transportation & Workers’ Compensation


    Proposition 22 in California has been dominating headlines all…]]> 2020-10-29T14:58:21+00:00 <![CDATA[Yes to Prop 22? The Future of App-Based Services]]> https://risk-strategies.com/knowledge-center/article/yes-to-prop-22-the-future-of-app-based-services#When:15:54:57Z It’s rare that the future of an industry relies upon a vote in an election, but that’s what seems to be happening with the gig economy. Employers and workers are both anxiously waiting for November 3rd.

    Now considered the most expensive ballot measure in state history, California’s Proposition 22 is clocking in at $200 million after being bankrolled by gig economy powerhouses like Uber, Lyft and DoorDash. Coined “Prop 22,” this ballot initiative would override AB5 and classify app-based delivery drivers as independent contractors (IC) rather…]]> 2020-10-27T15:54:57+00:00 <![CDATA[A Better Mousetrap:  Reference Based Pricing]]> https://risk-strategies.com/knowledge-center/article/a-better-mousetrap-reference-based-pricing#When:19:47:21Z In the ongoing, seemingly never-ending, battle against rising medical costs, reference based pricing (RBP) may be a smart approach for self-insured health plans. Here, I’ll provide an overview looking at what I’ve found working with clients moving to this model: areas of concern, keys to success, and a blueprint of what you can expect when entering into a Reference Based Pricing model.

    Simply put, RBP is a cost containment model that limits what a health plan will reimburse providers for services. Typically, reimbursement rate criteria under an RBP model is a set percent of the Medicare price or the facility’s…]]> 2020-10-26T19:47:21+00:00 <![CDATA[The Risks Behind the Telemedicine Boom]]> https://risk-strategies.com/knowledge-center/article/the-risks-behind-the-telemedicine-boom#When:19:26:37Z The COVID-19 pandemic has placed enormous strain on health care delivery. As providers have scrambled to deliver patient care while meeting new sanitization and social distancing requirements, telemedicine consequently exploded into popularity as both patients and doctors gladly traded physical visits with virtual ones whenever possible. While, overall, this is a positive advancement for health care, it does come with additional and relatively new risks for providers.

    Risk vs. Reward

    Telemedicine is a great way for patients to follow up with doctors, consult about medications, keep up with regular therapy sessions and more. However, the sudden pandemic surge in demand…]]> 2020-10-26T19:26:37+00:00 <![CDATA[Ransomware Sanctions]]> https://risk-strategies.com/knowledge-center/article/ransomware-sanctions#When:18:44:37Z The Office of Foreign Assets Control (OFAC) has issued an advisory for businesses who may find themselves victims of ransomware attacks. The advisory warns that making payments to cyber criminals could violate anti-money laundering sanctions. It also applies to incident response and insurance companies that help facilitate ransomware payments.

    The sudden announcement from the U.S. Treasury department has alarmed some businesses who are now left wondering if they will face penalties for paying ransom demands and whether Cyber insurance is still viable. In truth, nothing has fundamentally changed. This advisory simply reiterates what we already knew.

    Longstanding Regulations

    OFAC…]]> 2020-10-22T18:44:37+00:00