FINPRO Insurance Considerations in Light of COVID-19
Our expert financial and professional (FINPRO) team designs solutions to help safeguard your company and your staff, enabling you to focus on your business. Against the backdrop of the COVID-19 pandemic, there are a number of issues applicable to these specialist lines which need to be examined and we can advise further upon.
More remote working means cyber security will likely be stressed to a level never experienced before.
Higher propensity for social engineering fraud as people may be less likely to follow standard protocol given greater use of remote access.
Directors’ & Officers’ Liability
Given the volatility in the financial markets, the possibility of a stock drop after an announcement relating to the effect of COVID-19 is more than plausible.
Employment Practices Liability
Claims by employees alleging discrimination or harassment as a result of HR policies implemented in response to the COVID-19 outbreak are a growing risk.
Unfortunately the current high esteem and admiration for the sector is not without risk of being questioned when the crisis has passed.
Professionals and service providers will be responsible for errors or failure to deliver services they are expected to provide.