Solving the Business Risk Puzzle: Linking Insurance Coverages to Avoid Gaps and Minimize Losses

Abstract

Increased regulations and class action suits over the last decade have resulted in a new and riskier corporate and management liability landscape—one in which as many as 60 percent of small to mid-size businesses close their doors following a major business event, like a data breach. This outcome is often attributable to businesses that have acquired, merged and expanded beyond their current scope of coverage, and in turn, may be playing catch up to match their existing policies with new and evolving risk profiles.

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