SPA PI scheme members will already be familiar with answering questions on the PII renewals about tax mitigation schemes. We have been in ongoing discussions with the insurers of the scheme, Zurich, who have confirmed that they will continue to underwrite existing SPA PI members in this respect.
News & Blog
Cyber liability continues to make the press, with examples of hacks into wifi systems, data leaks from Apple iCloud and alarming reports from PwC concerning British companies suffering in the region of 4,300 cyber-attacks each day. As companies become increasingly dependent on technology risk managers are becoming increasingly concerned about the possibility of cyber risk. Risks including computer fraud, accidental loss or theft of device, business interruption, operational error, data theft, hacking, viruses and violation of customer privacy are still being underestimated.
Corporates are gradually coming to terms with what was deemed an emerging risk less than four years ago but is now a major threat to businesses irrespective of their location or sector.
Underwriters have confirmed that those facing the biggest risk are the smaller businesses, where an incident could be catastrophic. At Arlington we are working closely with insurers to provide cost effective insurance solutions to this problem. For further information contact Rob Marriott on 020 7292 6014 / firstname.lastname@example.org
Directors and officers risk has been a key issue on the boardroom agenda for the past decade. Although hardly a new risk, D&O liabilities are constantly evolving against the backdrop of the global financial crisis, changing regulation and companies’ international footprint. Particular concerns include tax issues, breach of contract, actions from regulators, bribery, fraud and corruption, employee actions (eg wrongful dismissal suits, actions related to health and safety), shareholder lawsuits and creditors / liquidator actions in relation to bankruptcy procedures.