Most companies have got their property, health, and liability insurance all sorted -
But many are overlooking the new types of insurance designed to manage emerging risks. In many cases, people don't even know these kinds of insurance exist!
Let’s talk about them:
1️⃣ Digital security threats are skyrocketing, yet many companies are still gambling without cyber insurance.
AI-driven attacks, ransomware, data breaches – each can financially cripple a business and destroy its reputation.
Imagine a cyberattack that leaks customer data or stops operations.
That's really important to be covered for, isn't it?
2️⃣ With autonomous tech on the rise, traditional car insurance doesn’t cut it.
When an autonomous vehicle or drone malfunctions, who’s responsible: the driver, the software developer, or the manufacturer?
For companies using this tech, not having the right liability coverage in place is like leaving the door open to huge lawsuits.
The reality is that these policies are becoming essential for protecting a business from what’s next.
The smart approach is proactive, not reactive.
#Insurance#RiskManagement#BestAdvice
Run-off cover is insurance that continues to provide protection after significant changes to a business, such as a sale, merger, or restructuring. It is crucial for policies like Professional Indemnity (PI), Directors & Officers (D&O), and Public/Products Liability (PL). These policies often operate on a claims-made basis, meaning they only cover claims made during the policy period. After business changes, without run-off cover, past claims may no longer be covered. Run-off cover is particularly necessary when selling, restructuring, or closing a business, or when there are changes to the corporate structure, ensuring continued protection from claims arising from past actions.
PEACEMAKER -- Founder of Schulwolf Mediation, PLLC, AAA Arbitrator, Chair-Elect of ABA TIPS Dispute Resolution Committee, Council member of SBOT, President ADR Section of Austin Bar, former law firm managing partner
Yesterday I had a great chat with an attorney in DC against whom I had litigated some large, complex cases awhile back. I was pleasantly surprised that much of my ADR work comes from former "adversaries."
We discussed resolving RWI claims. While a prior post about Rep and Warranty insurance generated little interest, I am undeterred! The attached complaint and policy illustrate some of the common issues. Historically, RWI policies contained arbitration clauses so there are few reported cases. I had been tracking this case, but it recently settled. Without taking sides, let's walk through the complaint and policy:
The policy at issue is a "buy-side" policy, which means the purchasing company in an M&A transaction has insurance in the event the Seller misrepresented the nature of its business. Here the insured argued the seller "had knowledge of serious material performance issues with certain customers that it failed to disclose." The insured sought the full $10M limit under the policy seeking "the difference between what [it] paid the Sellers based upon incorrect information and what [it] would have paid if it knew the truth about [Seller's] business, its Material Contracts and its Major Customers" as damages.
As I noted, the case settled this week although there is an upcoming hearing.
These cases create interesting incentives. Often, RWI, is crucial to getting a deal done. However, these claims are very fact specific and typically involve sophisticated entities and quality attorneys with the billing rates to match.
The policy (Exh. A) sits above a retention that typically "drops down" to a lower number after time. So, in this case the insured alleged the retention had dropped down from $1M to $500K.
The policy cover defines actual knowledge as "an actual conscious knowledge and awareness of fact" and does not include implied or constructive knowledge. The policy clearly places the burden on the insurer to prove both actual knowledge and any breach.
The definition of "Breach" contains a materiality scrape, which says that the determination of breach is done by deleting all "materiality qualifiers" from the rep and warranty. This provides broad coverage to the insured although you can see there are some exceptions in the definition of materiality qualifiers.
The interplay between potential recoveries from the seller (the breaching party) and the RWI insurer are interesting. Any amounts recovered from the Seller can still be used to satisfy the retention and shall be for the sole benefit of the insured. Furthermore, the insured is not required to seek recovery from the Seller.
The policy contained an optional arbitration clause and also increases the risks of any dispute by noting that the prevailing party is entitled to attorneys' fees.
Insurance for deal-makers often lead to disputes that can be resolved by making another deal! I don't know whether I will be retained in this case, but it is interesting stuff.
Understanding Public Liability Insurance: Extensions of Coverage
As a business owner, you understand the importance of protecting your company from unforeseen events that could lead to financial losses. One way to achieve this is by investing in Public Liability Insurance. This type of insurance provides coverage for damages or injuries caused to third parties, including customers, suppliers, or members of the public, while they are on your business premises or as a result of your business operations.
However, a standard Public Liability Insurance policy may not provide adequate coverage for all the risks your business may face. This is where extensions of coverage come in. Extensions are additional coverage options that can be added to your Public Liability Insurance policy to provide broader protection against specific risks.
Types of Extensions
Extensions of coverage can be categorized into several types, including:
1. Time-related extensions: These
extensions provide coverage for events
that occurred before the policy inception
date or after the policy expiry date.
Examples include prior acts coverage, tail
coverage, retroactive cover, and extended
reporting.
2. Liability-related extensions: These
extensions provide coverage for specific
types of liabilities, such as care, custody,
and control, property owner's liability,
personal liability, cross liability, and
wrongful arrest and detention.
3. Specific-risk extensions: These
extensions provide coverage for specific
risks, such as pollution, defective
workmanship, defamation, libel, and
slander.
4. Miscellaneous extensions: These
extensions provide coverage for various
other risks, such as court attendance
costs, leased and rented premises, tool of
trade, pure financial loss, first aid, food
and drinks, car park liability, and
sub-contractors and agents.
Benefits of Extensions
Extensions of coverage can provide several benefits to businesses, including:
1.Broader protection: Extensions can
provide coverage for specific risks that
may not be included in a standard Public
Liability Insurance policy.
2.Increased peace of mind: With
extensions, businesses can have greater
confidence that they are protected
against a wider range of risks.
3.Reduced financial risk: Extensions can
help reduce the financial risk associated
with unforeseen events, allowing
businesses to focus on their operations.
Conclusion
Public Liability Insurance is an essential component of any business's risk management strategy. By understanding the different types of extensions available, businesses can tailor their insurance coverage to meet their specific needs. Whether you're a small business owner or a large corporation, extensions of coverage can provide the additional protection you need to safeguard your business against unforeseen events.
13 Things Your Insurance Broker Didn't Tell You
Until it was too late
If you’ve ever stood in the rain watching your crew scramble to pack down an event that just got cancelled, you know the feeling: frustration, disbelief, and that sinking moment when you realise your insurance might not cover it.
I’ve been there too many times alongside promoters who thought they had the right cover, until the fine print kicked in.
In 35 years of live events, I’ve learned this the hard way: insurance is meant to be a safety net, not a trapdoor.
Here are 13 things you deserve to know before it’s too late:
1️⃣ Cancellation cover comes with strict thresholds
↳ Your policy might only pay out if rain exceeds a set level in a specific timeframe. Have heaps of rain the day before, and the site is too wet to use? This might not be enough to trigger a claim even with rain during the event.
2️⃣ General liability might not cover your entire event
↳ You might be covered for the main event, but not the sponsor dinner, the fringe acts, or the pre-launch preview.
3️⃣ Exclusions are buried deep
↳ Everything from pandemics to ash clouds might be written out of your policy, and no one highlights that upfront.
4️⃣ “Additional insured” doesn’t mean fully covered
↳ Just because your vendors are listed doesn’t mean they’re protected in every scenario.
5️⃣ Rising water? Often not included
↳ Blocked drains, pooling, or flash floods often need separate flood cover.
6️⃣ Rented gear? Check who’s liable
↳ Rental gear damage or tech faults? Don’t assume your policy covers it.
7️⃣ Cybersecurity isn’t standard
↳ If your registration system gets hacked or data leaks, most base policies don’t touch it.
8️⃣ Business interruption is your lifeline
↳ If you can’t trade because the venue’s power goes out, this can save your bottom line, but only if you’ve added it.
9️⃣ Umbrella policies fill dangerous gaps
↳ One lawsuit can exceed your liability limit. Umbrella cover protects your future.
🔟 Your policy limits may not reflect your risk
↳ What felt like a safe number last year might not touch this year’s production value.
1️⃣1️⃣ Volunteers might need employee-level cover
↳ If someone twists an ankle during a bump-in, and you didn’t know the legal definition of “staff,” you’re exposed.
1️⃣2️⃣ Waivers won’t save you
↳ Useful, yes, but not a replacement for proper liability cover.
1️⃣3️⃣ Policies are not set-and-forget
↳ Your events change. Your risks change. Your insurance should keep up.
The lesson? Ask more questions. Push for clarity. And never assume your broker is thinking about every corner of your production.
Which of these caught you off guard?
If you’ve had your own near miss or costly mistake, I’d love to hear how you handled it.
🔔 Follow Iain Morrison for more Event Leadership, Design, and Pre-Visualisation Advice
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Cyber Risk Insurance for Corporates: Key Considerations for Comprehensive Protection
In today’s digital-first world, cyber risk insurance is essential for protecting corporate assets from the growing threat of cyberattacks.
Here are 10 key considerations to ensure your business chooses the right cyber insurance policy:
1. Assess your risk exposure by identifying vulnerabilities in your IT systems, data storage, and third-party vendor relationships.
2. Ensure the policy covers common cyber threats, such as ransomware attacks, phishing scams, and data breaches.
3. Look for policies that include business interruption coverage for downtime caused by cyber incidents.
4. Verify that the policy addresses legal and regulatory compliance, including fines and penalties for data breaches.
5. Evaluate whether the policy covers third-party risks, including liabilities associated with customer and vendor data.
6. Consider the scope of coverage for remediation costs, including data recovery, system restoration, and forensic investigations.
7. Check if the policy includes access to cybersecurity services, such as incident response teams and risk management tools.
8. Align coverage limits and deductibles with your business's financial capacity and risk tolerance.
9. Collaborate with experienced brokers or insurers to tailor policies to your industry-specific risks and requirements.
10. Regularly review and update your cyber risk insurance policy to adapt to evolving threats and compliance requirements.
#CyberInsurance#RiskManagement#DataSecurity#CorporateInsurance#BusinessProtection#CyberRisk#DigitalTransformation#BusinessResilience#InsuranceMatters#CyberThreats
𝟱 𝗠𝘂𝘀𝘁-𝗛𝗮𝘃𝗲 𝗖𝗼𝗿𝗽𝗼𝗿𝗮𝘁𝗲 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗣𝗼𝗹𝗶𝗰𝗶𝗲𝘀 𝗳𝗼𝗿 𝗘𝗺𝗲𝗿𝗴𝗶𝗻𝗴 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀𝗲𝘀
As the founder or business leader of a young, fast-growing company in India, you're juggling an endless to-do list - from scaling operations to optimizing cash flow.
Amidst your day-to-day demands, consider : have you taken the time to ensure your organization is properly insured? Comprehensive corporate insurance coverage is not just a regulatory requirement - it's a strategic imperative that can make or break the long-term success and sustainability of your business. Here are 5 essential policies every emerging firm should have in place. I've kept the focus for this piece assuming you're running a services business. Asset (Fire etc) insurance can also be added to the list below if you are into manufacturing or handling inventory, and transit (marine) insurance additionally may be relevant. But first, lets examine the top 5 :
𝟭. 𝗚𝗿𝗼𝘂𝗽 𝗛𝗲𝗮𝗹𝘁𝗵 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲: Attract and retain top talent by providing your employees and their families with access to quality, affordable healthcare. This benefit can reduce absenteeism, boost productivity, and demonstrate your commitment to employee wellbeing.
𝟮. 𝗗𝗶𝗿𝗲𝗰𝘁𝗼𝗿𝘀 & 𝗢𝗳𝗳𝗶𝗰𝗲𝗿𝘀 𝗟𝗶𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲: Protect your company's leadership team from the financial burden of lawsuits and claims arising from their business decisions and actions.
𝟯. 𝗖𝗼𝗺𝗺𝗲𝗿𝗰𝗶𝗮𝗹 𝗚𝗲𝗻𝗲𝗿𝗮𝗹 𝗟𝗶𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲: Safeguard your organization from third-party claims of bodily injury or property damage, which can otherwise result in costly legal battles.
𝟰. 𝗣𝗿𝗼𝗳𝗲𝘀𝘀𝗶𝗼𝗻𝗮𝗹 𝗜𝗻𝗱𝗲𝗺𝗻𝗶𝘁𝘆 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲: For businesses providing advisory or consulting services, this coverage shields you from financial losses due to negligence, errors, or omissions in your work.
𝟱. 𝗖𝘆𝗯𝗲𝗿 𝗟𝗶𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲: In our increasingly digital world, this policy is crucial for safeguarding your company's sensitive data and protecting against the crippling costs of cyber incidents.
Your company's long-term success depends on proactively managing its risks. Take the first step today by ensuring you have the essential insurance policies in place. I'll be detailing each of the above insurance products in forthcoming articles.
Our team at Securenow (https://securenow.in) has expertise in designing tailored corporate insurance solutions to meet the unique needs of emerging businesses. Visit securenow.in or connect directly!
Regional Manager-Gujarat || Cholamandalam MS General Insurance Co. Ltd || PSU Bank Relationships-BOB, UBI, PNB, Indian Bank, SIB,TMB,GGB || 10 Million+ Post Impressions || 22K+ LinkedIn Family
#AcchaKiyaInsuranceLiya
IPL paused. Millions lost. One shield stands tall: Event Insurance.
The unexpected suspension of IPL 2025 due to rising Indo-Pak tensions has once again brought the spotlight on a silent protector in the world of mega-events—Event Insurance.
The financial scale of this disruption is massive. Every cancelled IPL match is estimated to cost between 100–125 crore. The ripple effects hit not just broadcasters and franchises, but also vendors, cab drivers, security staff, hoteliers, and thousands of livelihoods built around the tournament. While safety and national security rightly come first, this crisis reminds us how vital risk preparedness is in today’s uncertain environment.
Event Insurance acts as a financial shield against such unpredictable disruptions—be it due to war, political unrest, natural disasters, or even pandemics.
Remember these moments?
👉Tokyo 2020 Olympics: Postponed due to COVID-19, insurers faced claims worth billions. Only those with robust cancellation policies could recover losses.
👉Wimbledon 2020: The All England Club reportedly received over £100 million through its pandemic insurance clause, thanks to pre-emptive risk planning.
👉Delhi Commonwealth Games 2010: Faced massive cost overruns and last-minute delays; event insurance helped mitigate part of the financial risk.
In the case of IPL, while broadcasters and the BCCI are likely insured, the smaller ecosystem players may not be, highlighting the need for wider coverage awareness.
As professionals in the financial and insurance sectors, we must recognize that event insurance is not just a cost—it's a strategic necessity. It enables continuity, cushions economic shocks, and ensures that when the unexpected strikes, the recovery is faster and more stable.
As we hope for peace and cheer for our soldiers, let’s also strengthen the financial armor that supports our sports and entertainment industries.
Be prepared. Be protected. Because the game must go on—when the time is right.
#EventInsurance#IPL2025#RiskManagement#BusinessContinuity#InsuranceAwareness#CricketAndCountry#JaiHind
Event cancellation insurance is an important but often misunderstood line of coverage. Part of that is driven by the relative lack of reported decisions on event cancellation claims, most of which are resolved outside of litigation.
In the latest edition of the ABA Litigation Section's Insurance Coverage newsletter, my colleagues Latosha M. Ellis and Yosef Itkin provide an excellent overview of the basics of event cancellation policies, common areas of dispute (like adverse weather and terrorism and war exclusions), the small but growing body of event cancellation cases, and practical takeaways for policyholders to consider as they procure policies or navigate claims. https://lnkd.in/ertmgBvf
Feel free to reach out for a copy of the article!