Cyber Risk Insurance Coverage

“Everybody needs it, and most companies don’t realize they don’t have it until it’s too late.” This was a quote by Jacob Olcott, a principal with Good Harbor Consulting’s cybersecurity team, in a recent NY Times article, here.I don’t see the logic in this statement, but then, I am an insurance broker. If...
Posted: 2/2/2012 5:35:17 PM by MSI

Director and Officer Liability without Culpability

There has always been risk of personal loss to directors, even in absence of intent to harm. Such loss is usually financial loss and not criminal incarceration. However, even though this financial loss may be limited to legal fees incurred to achieve dismissal  or settlement (at least in the situation of absence of intent), such fees can be...
Posted: 9/30/2011 12:00:00 AM by Global Administrator

Employment Risk in Canada

Mitchell Sandham is again excited to have an article featured in Canadian Insurance Top Broker Magazine, called “Employment Risk in Canada” by Greg Shields.  Please click here to access the article featured in CI Top Broker. http://www.citopbroker.com/news/employment-risk-in-canada-2699Greg Shields is a D&O, Professiona...
Posted: 9/23/2011 12:00:00 AM by Global Administrator

Canadian Class Action Securities Claims: Legal Fees increase in Early Stage of Securities Claim

In Pennyfeather v Timminco Limited, here, the court determined that Plaintiff particulars can be compelled prior to the class action certification order, but, in turn, the statement of defence may be required prior to the order as well. In the Pennyfeather case the plaintiff did not provide particulars, and argued that defendant’s req...
Posted: 8/22/2011 12:00:00 AM by Global Administrator

Long Tail Liability for Canadian Directors and Officers

This new case, based on old alleged wrongful acts, hits home because it is a Canadian Company in the insurance industry that is active in the US but not listed on a regulated US exchange. The case involves a July 2011 class action securities suit against Fairfax Financial Holdings Limited (USA) and its Pink Sheet OTCBB trading,here. The all...
Posted: 8/4/2011 12:00:00 AM by Global Administrator

Bribery and the Board in the Insurance Broker Business

Between the FCPA, UK Bribery Act and the CFPOA there are many new cases in the bribery landscape. However, there is a very recent case involving a multinational insurance brokerage. This case is not categorized as a direct bribery issue, but rather a failure to prevent bribery. The Financial Services Authority (FSA) announced last week,here, tha...
Posted: 8/1/2011 12:00:00 AM by Global Administrator

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