Cybercrime is a fast-growing threat to U.S. companies, with data breaches, phishing scams, ransomware and malware all now part of the corporate security vernacular. The COVID-19 pandemic has only made matters worse, causing more security threats now that more people are working from home on less secure networks. Security is not just an IT concern; it is an organization-wide risk with far reaching implications that also affects the operational and financial aspects of companies as a whole.
Countless businesses across the country have been forced to close their doors as COVID-19 continues to spread. As business owners seek to recover losses suffered due to shelter-in-place orders, many business interruption insurance claims are being denied under the assumption that closed businesses have not experienced a “direct physical loss of, or damage to, property.” In turn, business owners are taking insurers to court.
I am sure this headline has you thinking, what do a nice summer drink, a low humming sound and an insurance policy have in common? Absolutely nothing, but in this article, we’ll see how all three are changing the age-old insurance industry on a daily basis.
As Hurricanes Harvey and Irma have stormed through Texas and the Southeast, the aftermath may have left you still dealing with considerable physical damage to multiple units. Even if your business was spared from significant impact, you may have been affected due to power outages, road closures or mandatory evacuations.
In an article published recently in Insurance Journal, Chris Frederick provides insight to how the recent snow storms in the Northeast caused many businesses a loss of revenue they were not anticipating, and how businesses can better prepare themselves in the event of weather implications
Cybersecurity related incidents are on the rise and every individual or company, regardless of size, is at risk. According to the AICPA and Juniper Research, costs related to these incidents are expected to increase to more than $2 trillion by 2019.
Patrick Braley, Partner and Service Line Leader for Bennett Thrasher’s Disputes, Valuation and Forensic practice, co-presented a recent webinar on Understanding and Preventing Corporate Fraud.
While we are most always aware of large cyber attacks and/or data breaches such as the 2013 Target breach or the 2014 Home Depot breach, we often forget that attacks happen on a daily basis; big and small.
The 2015 hurricane season has officially started. This season’s first named Subtropical Storm is Ana, recently forming off the coast of Georgia. While she did not become a hurricane, she created strong rip currents and caused coastal flooding. Stay tuned to see how this year’s predictions hold up.
Allianz, one of the world’s largest financial services firms, recently conducted a survey which found business interruption (BI) and cybercrime to be major concerns for businesses in the near future.
Corporate Counsel turned to Justin Snell, Director at Bennett Thrasher, for expert insight in its article, “Accounting Fraud, Meet the SEC’s ‘RoboCop’.”
On May 28, 2014, Business News Daily turned to Chris Frederick, dispute resolution and forensics director, and Kyle Aldridge, senior manager, for expert commentary in their article, “Still Recovering From Winter?