IN THE PUBLIC EYE

The "In The Public Eye" newsletter is dedicated to exploring risk management topics and challenges faced by today's Public Sector leaders.

The August issue of In The Public Eye has arrived! If you have any questions about the articles in this issue or have any other insurance-related questions, please contact us.

 

IN THE PUBLIC EYE PODCAST

 

The Latest Regulations Around Cyber Risk Management and Cyber Incident Response

Alliant

 

Ron Borys and Ryan Farnsworth are joined by David Finz, Alliant, to recap trending topics that surfaced during 2022 With Intelligence HFM Billion Dollar Leaders Summit. The Financial R&R team also addresses the latest regulations around cyber risk management and cyber incident response.

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IN THE BROKER'S CORNER

 

Law Enforcement Challenges

Alliant

 

Law enforcement liability has become increasingly difficult to insure in recent years.  Many factors, including the public’s perception of law enforcement, have exacerbated adverse verdicts against municipalities. This has made it harder for insurance companies to appropriately set limits and premium amounts.  

 

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NEWS

 

Social Inflation's Devastating Effects on Commercial Auto Claim Costs

Carrier Chronicles

 

The commercial auto liability industry continues to see pricing increases across the board due to extreme losses. Where $1 million used to be a large loss, $5-10 million is now commonplace. We dive into the causes associated with these rising costs.

 

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CYBER CORNER

 

Hacktivism Explained

Alliant

 

Hackers exploit virtual vulnerabilities to gain access to networks and devices illegally. While most engage in this activity for financial gain, others, called hacktivists, have different motivations. These threat actors typically engage in disruptive or damaging virtual activity on behalf of a political, social, or religious cause.

 

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PUBLIC ENTITY

 

Public Entities Reevaluate Liability Risks as More Plaintiff's Attorneys Bypass State Tort Protections

AMWINS

 

As insurers look to shield themselves from potential “nuclear” verdicts (large settlements and judgments from sympathetic juries), many carriers are either limiting the capital they deploy within certain classes of business or tightening terms and conditions around certain tort-based liability claims, for example, assault and battery (A&B), or sexual misconduct/molestation (SML).

 

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COMMERCIAL P&C

 

Active Shooter Liabilities and Insurance Coverages

Alliant 

 

According to the FBI report, 333 active shooter incidents meeting its definition occurred in the U.S. during this time. In 2022, the FBI reported that there were 61 active shooter attacks in the United States in 2021, up from 40 in 2020 and 30 in 2019. The new high number in 2021 is a 52.5% increase from the previous year.

 

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EMPLOYEE BENEFITS

 

Continued High Inflation Rates and Employee Compensation

Alliant

 

Inflation in the United States has seen its largest 12-month increase since 1981, creating a challenging economic environment for both organizations and employees. According to the Bureau of Labor Statistics’ (BLS) consumer price index, the U.S. inflation rate had increased by 8.6% as of May 2022.

 

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FINANCIAL SECURITY

 

Common Misconceptions About Your Insurance Coverage

Alliant Private Client

 

Major losses are hard enough to weather on their own. The last thing you need is the additional pain that comes from learning your coverage does not actually cover what you need it to. Further compounded by the fact that each policy is unique, and carriers have different options and requirements making it difficult to navigate the complexity of your personal insurance program. 

 

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ON A PERSONAL NOTE

 

August Fun Facts!

Alliant and Almanac.com

 

What do Caesar and Clowns have to do with August? Find out, with these August Fun Facts!

 

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Trends, Views & Topics

Ongoing Developments and Impacts of U.S. Supreme Court Ruling Against NCAA Student-Athlete Compensation

Alliant

 

On June 21, 2021, the United States Supreme Court handed down a unanimous landmark decision that has the potential to totally reform the current system of NCAA amateur student athlete compensation. However, because the Court’s decision acted as a repudiation of the NCAA’s entire approach to the application of antitrust law to its system governing student amateur athletics the case is very likely to have a much broader impact.

 

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EVENTS

Conferences, Speaking Engagements and Webinars

 

Alliant Public Entity attends and produces various events throughout the year. These events provide our team a chance to meet and network with members of the community, learn and present ideas. 

 

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CONTACT US

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