Cyber insurance has been valuable in covering non-physical losses in commercial contracts. Significantly, as cases of cyber threats continue to proliferate, many contracts now contain a sub-clause on cyber coverage which protects businesses from damages brought by data breaches and computer attacks. Cyber insurance also provides coverage for regulatory investigations as well as for third-party claims.
In this LIVE Webcast, a panel of thought leaders and professionals brought together by The Knowledge Group will provide and present an in-depth analysis of the fundamentals as well as recent developments in Bad Faith Insurance Practices: Exploring Legal Risks and Post-COVID-19 Implications. Speakers will also present all important issues surrounding this significant topic. Join us for this Knowledge Group Webinar!
While the essence of insurance is to hedge against financial losses caused by unexpected damages, there are instances when an insurance company fails to fulfill its obligations and duty of good faith. This instance, more commonly known as insurance bad faith, can happen in several ways, including an insurer’s misrepresentation of the contract or its failure to disclose specific policy scopes.
There are many types of cases that may constitute the filing of a bad faith claim. The varying jurisdictions surrounding this area of law also pose additional uncertainties making it harder for insurance companies to devise effective litigation tactics. Thus, it is of vital importance for practitioners to be in the know of the common red flags and pitfalls to avoid potential liability claims and other financial damages.
The ever-changing landscape of insurance coverage litigation has always posed several challenges to insurance companies. Because of this, complex coverage issues and risks of bad faith claims have also notably increased and insurers are left with the important task of effectively handling and preventing such claims.
The current global health crisis brought by COVID-19 continues to radically modify important economic activities across the world. In response to the pandemic, the representations and warranties (R&W) insurance landscape has also started to witness notable developments, specifically in relation with COVID-19-related exclusions and due diligence expectations.
The construction industry has been hounded by unprecedented threats and other legal pitfalls. Various claims for damage to property or persons arising from construction projects, often expose companies and individuals to the risk of costly litigation. In order to prevent or limit risks arising from such claims, general contractors, subcontractors, and owners must adopt an insurance program that will effectively mitigate the risks of claims and potentially provide a source for coverage and recovery.
