Cyber-attacks remain a top business risk for all utilities and municipalities, increasing in frequency, severity, and sophistication. At the top of the cyber-attack list? Ransomware. The recent attack on the Colonial Pipeline is focusing heavy attention on the threat of ransomware on U.S. energy infrastructure. The bottom line: planning is everything. Learn the three best practices for preparing for a ransomware attack and how to create a detailed incident response plan that prevents paralysis should the worst happen.
Environmental perils rank among the highest in Marsh’s Global Risks Report 2021, specifically extreme weather, failure to address climate change, and environmental damage from human activity. These perils can lead to expensive clean-up measures and tort liability. U.S. municipalities and their community-owned utilities should adapt their business model to these realities and include environmental insurance coverage in their risk transfer strategy.
The COVID-19 pandemic raises many issues for both insureds and insurers. As events continue to unfold, organizations should work closely with their advisors and counsel to address their myriad concerns. In a new report, COVID-19: Evolving Insurance and Risk Management Implications, Marsh provides an overview of some of the key coverage, claims, and risk management areas related to the pandemic and also looks at how businesses can actively respond to current effects while continuing to plan and prepare for future ones.
Marsh Wortham Power Gen Insurance, in partnership with Claim Strategies, is offering an exclusive discount to members of the American Public Power Association on a unique Third Party Recovery Program. Marsh Wortham’s typical recovery rate of 20% is being reduced to just 15% exclusively for public power systems. This offer is only good through 12/31.
Marsh Wortham Power Gen Insurance is the official insurance partner of Hometown Connections, Inc., public power’s premier utility services organization. Read More about Improve Recovery of Assets Damaged by Automobiles with Exclusive Public Power Discount »