Cyber security is now more important than ever for manufacturers — especially as the impacts of the ongoing pandemic continue to be felt. A survey by McKinsey found that companies may have accelerated the digitization of supply chains and operations by three to four years due to Covid-19, while the…
The past year saw an extraordinarily hard insurance market, both nationally and locally. On the national level, cyber liability, D&O liability, employment practices liability, property risks and excess liability have seen continued hardening. Many industry watchers had forecasted that some increases would start to slow down in the second half…
Cyber security continues to be of critical concern for the manufacturing industry in particular. According to the NTT Global Threat Intelligence Report for 2021, it is the second-most targeted industry, with only financial institutions seeing a higher frequency of cyber attacks. The same report reveals a staggering 300% increase in…
If you have experienced a large business property loss, waiting for the insurance claims process to complete can feel like forever. Timelines may differ between insurers or claims, and the process can go faster in some cases than in others. Waiting can be frustrating, but it can be helpful to…
As many industry watchers have forecasted, the commercial insurance marketplace is now beginning to moderate. What does that mean? In short, smaller rate increases for most insurance—especially compared to the larger increases of the last couple of years. That isn’t to say that nobody is experiencing large increases. In many…
In the ninth episode of FOOD FOR THOUGHT, Foa & Son’s Michael Lieberman welcomed seafood industry thought leader and innovator, Richard Stavis for a discussion of sustainability and social responsibility in the seafood industry. “Sustainability used to be just about whether there was going to be enough fish,” Stavis recalled…
For Foa & Son V.P. Brian Murphy, knowing that he is helping his clients protect their business is the most rewarding part of the job. His background, which includes hands-on experience as a construction project manager, gives Brian unique insight into his industry specializations: trade credit insurance and construction/commercial real…
If you have experienced an incident affecting your systems, or an incident with IT service providers and other vendors affecting your operations, waiting for the insurance claims process to complete can feel like forever. Timelines may differ between insurers or claims, and the process can go faster in some cases…
“It’s fifty ships a day that pass through the canal,” said Don Murnane of Freehill Hogan & Mahar LLP during a recent episode of FOOD FOR THOUGHT. “We’re talking about a ship that’s got 20,000 total equivalent units,” he continued. “Everything that you see in the supermarket, everything that you…
If your moderate to medium-sized business has sustained a property loss, waiting for the insurance claims process to complete can feel like forever. Timelines may differ between insurers or claims, and the process can go faster in some cases than in others. Waiting can be frustrating, but it can be…
