Bennett Thrasher LLP

Before the tectonic shift felt by businesses and industries across the U.S. due to the pandemic, our team was spending thousands of hours and budget on one task. Nine Bennett Thrasher associates monitored, manually opened, downloaded, logged and updated billing codes to confirm and initiate signed client engagement letters. This task was a 2-thousand hour per year job. BT’s Technology Services team digitally transformed one redundant task, and engagement letters are now processed in mere minutes, thanks to the implementation of Robotic Process Automation (RPA).

Countless businesses across the country have been forced to close their doors as COVID-19 continues to spread. As business owners seek to recover losses suffered due to shelter-in-place orders, many business interruption insurance claims are being denied under the assumption that closed businesses have not experienced a “direct physical loss of, or damage to, property.” In turn, business owners are taking insurers to court.

In an article recently published in Healthcare Risk Management, Bennett Thrasher Partner Chris Frederick discusses important factors healthcare organizations should pay attention to when dealing with cybercoverage and commercial insurance policies. Frederick explains that healthcare risk managers may mistakenly assume that damage from cyberattacks will be covered, but that is often not the case. Frederick says, “The insurance company will look at whether the network infrastructure was secure enough. They might say basically, ‘Yes, there was a data breach, but you didn’t take the necessary steps to prevent it.’”