Escalating lawsuits and costly settlements are driving up the price of critical insurance coverages for retirement plan sponsors and other fiduciaries. Nonetheless, ERISA law experts stress the importance of securing both fiduciary and cyber liability insurance, and encourage seeking...

Equifax! JP Morgan Chase! Capital One! Adobe…! Large companies, including these, are responsible for the massive security breaches of the past decade—impacting the personal data of hundreds of millions of customers. These stories make the news—impacting all of us in...

Under ERISA, fiduciaries are subject to the prudent expert standard of care, in which they have to act with diligence, care, and skill in their field. They also owe a duty of loyalty to plan participants. Fiduciaries, or those who...

A cyber-attack can not online bring your remote workforce to its knees, but damage your company for years to come. Operational continuity is paramount for establishments at the peak of fruitfulness, and during this pandemic, we are far from the...

In today’s digital climate, hackers are around every corner, waiting for the right moment to swipe your most valuable business and personal assets. Without adequate coverage, your financial account details, social security numbers, and other sensitive information could be stolen....

It’s taken catastrophes to make people realize that insurance is not just a form of gambling; it helps people and businesses endure. Fiduciary liability insurance and cyber liability insurance may seem like gambling on a fiduciary breach or cyber attack...

A vital concern sweeping businesses across the country is a term called “silent cyber”, or the coverage for cyber devastation under traditional property and casualty insurance policies, in contrast to purpose-built cyber insurance policies. A recent lawsuit details how a...

Fulfilling fiduciary obligations around cybersecurity requires plan sponsors to oversee a complex network of recordkeepers, payroll systems, and custodians. With so many partners involved, answering "who can access what data" is rarely straightforward. Toward improved oversight, ERISA experts suggest three...

Pointing out that the Department of Labor’s cybersecurity inquiries to employee benefit plans are “active and intensifying,” accounting professionals remind sponsors that inquiry letters are not love letters. How prepared are you with documented evidence of the steps you've taken...

What every small business owner sponsoring a retirement plan needs to know about personal risk If you run a small business and sponsor a 401(k) for your employees, you may assume that your modest plan size keeps you under the...