When a gas station is notified of a vapor leak, it turns to its insurer for aid. But the insurer says no dice, because the actual property the gas station is on received no damage.
In March, a large container ship blocked the Suez Canal for six days, costing nearly $400 million an hour in global trade losses. Now, cargo and vessel owners are asking, “Who foots the bill?”
Social inflation caused by a rise in lawsuits brought against businesses and disproportionate nuclear jury verdicts have forced insurers to stump up multi-million dollar settlements.
The telehealth task at hand for risk managers and their insurance partners is to help preserve the balance of patient privacy with all the good that has come — and will come — from telemedicine.
Though plaintiffs will have a tough time blaming businesses for exposure to the virus, carriers are nonetheless prepping defense strategies and emphasizing risk mitigation to clients.
As investors and the public put a greater focus on ESG issues, businesses need to make sure their practices align with their values statements lest they open themselves up to liability issues.
In this Risk Scenario, Risk & Insurance explores what might happen in the event a telemedicine or similar home health visit violates a patient’s privacy. What consequences await when a young girl’s tele visit goes viral?