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Risk Insight
$160+M Vegas Hotel Nightclub Liability Verdict Shows How High the Stakes Are
When New York City billion-dollar hedge fund manager David Moradi decided to hang at The Cosmopolitan’s Marquee nightclub, he didn’t expect to end up suffering a traumatic brain injury. This is exactly what happened when an issue occurred over a $10,000 bill David racked up at the nightclub. According to his claim, the Marquee security…
A Look Inside: Risk Retention vs. Risk Purchasing
Alternative risk mechanisms are available to help businesses address and manage their risks. This includes setting up risk retention groups (RRGs) and risk purchasing groups (RPGs), which are often mistaken for being the same thing. While there are similarities between the two – both require members to be homogeneous and both provide liability insurance under…
Why Hotels Need a Cyber Insurance Policy
Having a separate Cyber insurance policy is vital to corporations that store any sort of customer data. Too often businesses mistakenly believe that their Commercial General Liability (CGL) insurance will respond in the event of a data breach. This isn’t so as reflected by the latest case involving a Florida hotel group looking to its CGL policy…
Addressing D&O Exposures of Nonprofit Board Members
D&O exposures of nonprofit board members include but are not limited to harassment, discrimination, wrongful termination, inefficient administration, financial mismanagement, negligence and acts beyond the granted authority. Employment practices liability claims are the most common D&O claim of nonprofits. For example, a nonprofit terminated one of its executives because of multiple complaints of sexual harassment by employees. In…
Hotels Under Cyber Attack: IHG Data Breach
The InterContinental Hotels Group (IHG), which owns thousands of hotels worldwide, disclosed earlier this month that a credit card breach impacted at least a dozen of its properties. This is just the latest cyber attack that has hit some of the largest hotel and hospitality chains over the past years – from Kimpton Hotels to…