White Papers and Articles:

Disclosing medical errors to patients and apologizing for adverse outcomes is the right thing to do. That's the opinion of the American Medical Association, American College of Healthcare Executives, American Society for Healthcare Risk Management, and other patient safety experts. However, many healthcare organizations still struggle with the transparency issues surrounding medical errors. This healthcare white paper explores the basics of setting up a disclosure, apology, and early offer program and the promising results early adopters have experienced.

Over the last several years, the financial and healthcare industries have faced increasing exposure to privacy and data security breaches – both intentional and negligent. These exposures have also spurred increased governmental scrutiny and regulation to protect customers‘and patients’ sensitive financial and medical information. Now, the SEC, through a new set of corporate finance disclosure guidelines, requires all public companies, regardless of industry segment, to provide their investors with information on how they’re dealing with cyber security.

In this issue, we discuss the fastest growing cost segment in workers' compensation: prescription drug costs. What are these costs and what are the implications of employees working under the influence of prescribed medications? Also in this issue, workers' compensation issues continue to grow as the number of employees working remotely increases. Recent cases in Oregon and New Jersey highlight some of these issues. We discuss some sensible approaches to minimize risk in the remote work environment.

Integro’s Hurricane and Wind Checklist provides insight into preparing for the ongoing hurricane season.

Natural catastrophe events continue to drive the insurance marketplace, and disrupt business and people’s lives. The Virginia earthquake was a vivid reminder and serves to highlight the need to be vigilant even in areas that are less likely to face a significant earthquake or windstorm.

A hard market is less than desirable for insurance buyers. There are, however, planning steps that risk managers can take to help manage the expected market swing. Proactive steps now will yield a much better position if, or when, the wind does blow. This article previously appeared on Risk Management Monitor, the official RIMS blog. (www.riskmanagementmonitor.com)

In a long line of securities cases, the Supreme Court again clarified that in the ordinary course, secondary actors like bankers, lawyers, investment managers/advisors, and consultants are shielded from private securities litigation liability. In the recent decision in Janus, the majority ruled that an investment adviser would not be held liable in a private class action securities lawsuit for misrepresentations in a mutual fund prospectus since the advisor was not the “maker” of the statements. Financial advisors, consultants, lawyers, auditors, and other service providers regularly purchase errors and omissions insurance to protect against liability arising out of their professional services. In this article, we’ll discuss how Janus may help you present your risk profile to underwriters and improve your pricing and terms and conditions.

“Say on Pay" regulations, which implement provisions of the Dodd-Frank Act relating to shareholder approval of executive compensation, are now law. But what happens when shareholders say "no" on pay and the company approves the compensation anyway? In some cases, shareholders are taking companies and their directors and officers to court. Although it remains to be seen how these cases will progress, companies and their directors and officers should work closely with their broker and counsel in consideration of the breadth of D&O coverage afforded them for this unique brand of shareholder claim.

The week of May 6, 2011 is National Nurses Week, a time to recognize healthcare professionals. Unfortunately, after law enforcement, healthcare professionals have the highest rate of on-the-job assaults resulting in lost work days. Violence in the workplace happens everywhere. In this issue of our Workers’ Compensation newsletter, we share ideas and recommendations on minimizing and eliminating many injuries caused by violent behaviors.

Our March issue of the Integro Workers’ Compensation newsletter highlights some of the major issues facing employers in 2011. This includes questions concerning the use of prescription drugs when employees return to work from disability. We also look at how effective management of a PEO relationship takes work and an understanding of the issues.

The U.S. Supreme Court has issued an important decision for all companies who are subject to potential securities litigation, particularly in the pharmaceutical, bio and life sciences, nutraceutical and healthcare industries. In Matrixx Initiatives, Inc. v Siracusano, the Supreme Court refines two key critical elements of a securities case, i.e., materiality and scienter.

As the situation in Japan continues to unfold, the factors that will ultimately impact both the amount of loss and the extent of coverage are growing more complex. Prudence dictates that early measurement of any potential financial losses is required, but do you know what to look for and where you might have exposure to loss and coverage?

In October 2010, we published a guide to Medicare reporting issues and highlighted those areas where employers needed to be aware of changes from the Centers for Medicare & Medicaid Services (CMS). In November 2010, the reporting timelines changed again for some Casualty lines while others stayed the same. Given the changes and the complexities of the multiple reporting responsibilities for insureds, we have updated our October guide to provide a more comprehensive view of Medicare reporting obligations.

Goldman Sachs’s recent investment in Facebook brings to the forefront a not-so-recently enacted S.E.C. requirement that may affect D&O coverage for privately held companies. Section 12(g) of the Securities Exchange Act of 1934 provides that companies with over $10 million in assets and 500 or more shareholders must file public disclosures with the S.E.C. This creates an exposure for some private companies under federal securities laws that may not be covered by their D&O insurance policies. Learn more about this exposure, the potential coverage gap, and how changes in policy language and program structure may be your best strategy to address this risk.