Benefits Blog – Remote Control: Telemedicine Offers Wider Care Options

You can call up a quote from Shakespeare in seconds, send a message to the other side of the globe immediately, and even buy a car, all from your smartphone, laptop, or tablet.  So why not get checked by a physician?  Why not, indeed.

Such is the attraction of telemedicine – the practice of health care from a remote location, which has proven to be quite effective as an attractive option for many health care providers and their patients, especially given the Covid-19 pandemic.

Using live video transmission, typically through an online app designated by the provider, doctors and patients can see each other and talk in real time about any health care concerns or questions – all without needing to be in the same exam room together.  Although telemedicine is not a complete replacement for direct patient care, it can be a useful tool for a variety of medical services, such as evaluation, diagnosis, and prescribing treatment.

Patients benefit from staying in the comfort of their own homes, oftentimes with a caregiver taking part in the telemedicine session to provide additional information and follow-up care.  The potential spread of germs and infection in clinics and hospitals is minimized.  Those patients living in rural areas, or who have difficulty arranging transportation, can access quality medical care in a much more convenient manner.  And those patients recovering from surgery or severe illness can be readily monitored through telemedicine visits.

For many patients, obtaining medical care represents a significant cost in time, resources, and money.  Telemedicine helps lower those barriers, while helping to enhance the value of regular visits with the doctor.  As access to electronic medical records expands, physicians can combine this technology with telemedicine to bring patients even higher quality care.

Check with your benefits provider to see how telemedicine fits into your medical coverage, potentially lowering costs while improving the doctor-patient relationship.  The Benefits team at The Reschini Group can help in this regard.

Copyright 2021 The Reschini Group

The Reschini Group provides these updates for information only, and does not provide legal advice. To make decisions regarding insurance matters, please consult directly with a licensed insurance professional or firm.

Telemedicine Resources from The Reschini Group

Contact The Reschini Group with your questions or concerns regarding D&O Coverage.

The Reschini Blog: The Ramifications of Ransomware

It’s one of the oldest plots in the movies.  A person or object of great value gets kidnapped.  A demand for money or some other form of tribute is demanded.  And either the ransom gets paid, or a rescue ensues.  The end, curtain down, talk about the film on the ride home.  Nice and tidy.

Until it happens in real life, and the true impact of ransomware – the infiltration of your computer system, complete with unwanted access to your most sensitive information – becomes all too clear.

And don’t think it couldn’t happen to your small business.  Ransomware strikes at systems large and small.  In fact, a small contractor servicing a large corporation can serve as one of the easiest “back doors” for a hacker to make an enormous score.

In 2019, the Internet Crime Complaint Center (IC3) received 2,047 complaints identified as ransomware, with losses in excess of $8.9 billion.  That’s billion.  With a “b.”  Even while citing those statistics, IC3 also insists that instances of ransomware remain vastly underreported, so the true total of losses is probably much higher.

Intricate, elaborate, expensive software systems designed to block sophisticated ransomware attempts can be effective, and have real value in the ongoing fight.  But it’s also important to remember that ransomware hackers can gain all the access they need by the simplest of methods, as well.  A targeted phishing attack that gains the credentials of top managers can parlay that information into a quick and substantial ransom payment.

So how to avoid the chilling and costly incidence of being held for ransom by outsiders capturing your proprietary data?  Establish a relationship with federal law enforcement authorities and trusted organizations like the non-profit National Cyber Forensics-Training Alliance (, conduct continuous employee awareness training that includes top officials of the company, increase knowledge of ransomware tactics and trends to stay ahead of the threat, and review your insurance coverage against losses attributable to ransomware attacks.

The professionals at The Reschini Group can work with you to audit your exposures and craft a policy package to provide the proper level of protection.  Because being held for ransom is not a plot device in a movie that you can walk away from.  It’s all too real.

Copyright 2021 The Reschini Group

The Reschini Group provides these updates for information only, and does not provide legal advice.  To make decisions regarding insurance matters, please consult directly with a licensed insurance professional or firm.

Property & Casualty Blog: Covid-19’s Impact on D&O Coverage

Among its many other ripple effects, the Covid-19 pandemic may impact Directors and Officers (D&O) liability insurance, as public and private companies fight to stay afloat amid calamitous economic conditions.  There is no assurance that shareholders, employees and customers will let companies – or their offices – off the hook, even for a worldwide health disaster.

Coronavirus-related “event-driven” litigation and shareholder derivative suits have begun to arise, alleging “a series of false and misleading statements and concealed material information” about its health and safety protocols and its alleged “role in facilitating the transmission of the virus” against cruise line provider Carnival Corporation.  Also, Sorrento Therapeutics and its officials have been accused of making misleading comments about a COVID-19 “cure” that led to a near-tripling of its share price, before the company recanted and modified its claims.

As a result, according to industry experts, both public and private companies will need to pay close attention to their D&O insurance.  Said one such expert, “Many small businesses have had to close their doors temporarily because of the coronavirus, and they lack the surplus of capital needed to sustain their operations through those mandatory closures.

“We’re seeing a lot of smaller retail businesses and restaurants suffering from economic hardships, which can lead to possible D&O lawsuits down the line. The larger publicly traded companies will likely weather this storm a bit better because they have a higher surplus of capital to see them through. However, if they fail to weather the storm and they end up closing some of their operations, we anticipate that there could be an uptick in D&O lawsuits related to mismanagement.”

Terms of D&O coverage may need to be adjusted, as well, with the proviso that – given the radical economic shifts that Covid-19 has introduced – companies may have to contend with higher premiums for similar coverage, or lower coverage at the same premiums.  The variables continue to multiply.

Yet regardless of how all of this plays out, companies still need to provide the best D&O coverage possible to protect their officers and top managers.  The professionals at The Reschini Group can expertly guide any public or private company through the forest of potential pitfalls and existing or new opportunities to meet this critical objective.  Contact us today to learn more.

Copyright 2021 The Reschini Group

The Reschini Group provides these updates for information only, and does not provide legal advice.  To make decisions regarding insurance matters, please consult directly with a licensed insurance professional or firm.