Representations and warranties insurance (RWI) is designed to cover certain breaches of representations and warranties made in business merger and acquisition (M&A) agreements. RWI has emerged as a preferred tool by executive management to reduce transactional risks.  Policies can be purchased by either the buyer or the seller in an M&A transaction. Buyer-side RWI policies provide first-party liability coverage to protect buyers from financial loss due to misrepresentations by sellers—whether intentional or accidental—such as misrepresented…

Along with changing leaves, cooler temperatures, and shorter days, the fall season can bring new hazards to motorists. Adverse weather conditions, back-to-school traffic, and animals pose dangers that can result in vehicle damage or injury. The following are factors drivers should take into consideration as fall begins: Kids — Drivers should be extra cautious in school zones and be on the lookout for children, particularly those walking and biking to school. New, inexperienced student drivers…

Bonding companies use qualitative and quantitative factors to determine the credit they will extend to a contractor. They underwrite their book of business with the assumption that there will be no claims. Issuance of a bid or performance bond is a seal of their confidence in you. When a contractor has sufficient capital and liquidity, a reputation for quality, timely work, and capacity to complete the work, a surety will extend adequate credit. Weaknesses in…

As cyberattacks become more frequent and severe, it’s increasingly important for organizations to practice good cyber hygiene—habitual practices ensuring critical data and connected devices are handled safely—to minimize their digital exposures. Some consequences of poor cyber hygiene include: Security breaches Data loss Software vulnerabilities Antivirus weaknesses Here are some essential elements of cyber hygiene for organizations to consider: Passwords—Employees should be required to create strong and complex passwords and avoid sharing or using the same…

The commercial property insurance market has hardened in recent years, with consistent rate increases since the third quarter of 2017. These rate increases were evident in the beginning of 2022, with first-quarter rates rising by an average of 7.6%, according to industry data. Similar pricing trends occurred in the reinsurance markets during the same period through moderate, single-digit rate increases for most carriers. Yet, it’s important to note that some insureds may have encountered above-average…

Improving the fuel efficiency of a company’s fleet of vehicles can have many financial and environmental benefits, especially with fuel prices on the rise. Fuel can be one of the largest and most difficult expenses to predict and control. Vehicle fleet managers must conserve fuel, maximize efficiency and reduce vehicle emissions by implementing fuel-efficient policies, technology, and maintenance strategies. Best Practices Managing a fleet’s fuel usage—even for just a couple of vehicles—can feel overwhelming. The…