Homeowner insurance rates have climbed 69% in the last 10 years.  At the same time, deductibles have increased, certain coverages have scaled back and new restrictions have been added to policies. Coverage varies widely between carriers and most consumers shop based on price and reputation.  Key decision drivers, of...

The directors and officers (D&O) liability insurance marketplace is in a state of transition, according to the recently released 2012 Directors and Officers Liability Survey by Towers Watson (NYSE, NASDAQ: TW), the global professional services company. The survey reflects D&O policy arrangements and purchasing patterns for public companies, private companies and not-for-profits. In...

According to a recent report issued by Marsh, Benchmarking Trends: More Companies Purchasing Cyber Insurance, not only are more first-time companies turning to cyber insurance to protect their organizations, but companies are also purchasing higher levels of cyber coverage to protect their organizations from the financial consequences of a...

 A draft proposal released last week from the Florida Legislature to reform Citizens Property Insurance could have costly repercussions for millions of property owners.  Some highlights of the proposed bill include: Changing the legal mandate that insurance in Florida be “affordable,” adding new language requiring premium prices to “reflect...

Today, employer’s of all sizes face even more stringent and complicated regulations and rules.  The result of non compliance is stiffer fines and penalties and potentially—lawsuits.  New regulations continue to be released by the government, putting further burden on employers who are already faced with the ever-present issues of...

The Office of Insurance Regulation (OIR) has approved annual rates, rules and form changes for Citizens commercial policies. The changes apply to commercial new and renewal policies with effective dates on or after 01/01/2013 for commercial residential and nonresidential multiperil, and 02/01/2013 for commercial residential and nonresidential wind-only. Rate...

Recent high-profile data breaches have many companies focused on protecting their corporate networks.  Even with the heightened awareness, attacks from/on mobile devices has been accelerating as cyber criminals (and “Hacktivists”) have turned their craft to mobile technology, creating a new set of security challenges. Mobile devices store massive amounts...

The U.S. Court of appeals rejected National Union Fire Insurance Co’s. – a subsidiary of American International Group Inc. (AIG) — ‘direct loss’ defense on a computer hacking claim that involved DSW Shoe Warehouse.  The ruling entitles the national retailer to recover $6.8 million for a computer hacking claim...

Even though we do not appear to be in a direct path for Tropical Storm Isaac flooding can occur. The National Flood Insurance Program offers wonderful Resources to Help with Your Flood Claim if it were to occur.  Worksheets, fact sheets and even an NFIP flood handbook for claims....

With the uncertainty of Tropical Storm Isaac, Connelly, Carlisle, Fields & Nichols (CCF&N) encourages all Floridians to establish and frequently revisit plans to deal with each phase of hurricane events — pre-storm, storm duration and post-storm. Pre-Storm, Storm Duration and Post-Storm Activities Each phase has distinct activities associated with...