A Comprehensive Guide to Successful Claims Outcomes (Part II of II) In this second of a two-part article, the authors discuss areas where outside expertise may be needed and policy exclusions. Read Part I here. Introduction: Navigating Claims Challenges and How Experts Can Help Throughout the fidelity claims handling process, issues or challenges may arise for which parties involved must reconcile. Here are some common issues that may be encountered: Proof of Loss: One of the primary challenges in fidelity claims is establishing the proof of loss. The insured party must provide evidence of the fraudulent or dishonest acts committed…
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The Dark Web Criminals Both the Financial Crimes Enforcement Network (FinCEN) and the U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) have issued recent advisories concerning ransomware payments. This article provides an overview of those advisories. Both the Financial Crimes Enforcement Network (FinCEN) and the U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) have issued recent advisories concerning ransomware payments.[1] Ransomware attacks occur when a cyber actor uses malicious software (“malware”) to block access to a computer network or data, and offers to restore access in exchange for payment of ransom. Ransom is generally demanded in…