This trend coincides with data privacy regulations in several states, including the California Consumer Privacy Act, which is expected to take e昀昀ect in 2023. Another litigation trend involves commercial the ripple e昀昀ects on technology companies, landlord-tenant disputes, which have become 昀椀ntechs, life sciences organizations, and other more frequent as businesses adapt to remote businesses or startups that rely on regional work and occupancy remains reduced. In addition banks,” writes Matt McLellan, D&O Product to private litigation, businesses are seeing Leader for Marsh. While this trend is not new regulatory enforcement actions by agencies such and shouldn’t be the cause of panic, it certainly as the Federal Trade Commission and Department warrants caution, observation, and careful review of Justice on matters from employment practices of your executive liability policies. “Organizations to antitrust to data security. should focus on reviewing their insurance coverages to understand fully the protections One litigation trend that is they have for liabilities resulting from such at the top of mind for many institutions, customers, or other possible losses,” is the looming threat of concludes McLellan. potential bank insolvency. Finally, the litigation over excessive fees has continued to increase. Excessive fee claims The turmoil surrounding Silicon Valley Bank and generally allege plan sponsors and/or plan Signature Bank is a stark reminder of the risks 昀椀duciaries breached their ERISA 昀椀duciary duties present in the 昀椀nancial industry. “Since March by requiring participants to pay excessive fees. 9, there has been a focus on other banks with comparable exposures, as well as concern over Business InsurBusiness Insurance Tance Trrendsends 1313