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LION Specialty

Everything you need to know to navigate the financial institution insurance market in ≈ 5 minutes per week. Delivered on Fridays.

Three courts challenge coverage triggers this quarter. One broadened "direct loss." One stretched "security breach." One let bad faith hit a captive!
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Three Courts Rulings. Wild Challenges To Your Policy Language. And None of Us Were At the Table...

Reading scan time: 5 minutes Your Friday Five Every week our team rips through 200+ insurance, legal, regulatory, and market-risk articles so you don't have to! Three developments caught our attention this week: An Illinois federal court held that employee wire transfers triggered by fraudulent emails from a compromised CFO account constituted a "direct loss" from computer crime. Two additional courts stretched third-party cyber coverage beyond its intended scope this year. A North Carolina...

The risk 534 insurance CIO, CRO and Head Actuaries ranked #1 long-term wasn't climate, wasn't cyber, and wasn't geopolitical.

Reading scan time: 5 minutesListening time: 8 mins Your Friday Five Every week our team rips through 200+ insurance, legal, and market-risk articles so you don't have to! Three developments caught our attention this week: Over 100 C-suite insurance leaders now rank AI adverse outcomes as their #1 long-term emerging risk ahead of climate, armed conflict, and demographic shifts. The migration from geopolitical to technological risk is accelerating. The U.S. Treasury announced meetings with...

We audited six policy lines for silent AI gaps. Every definition assumed a human.

Reading time: 4 minutes A line-by-line audit of your Silent AI exposure This week we're launching a three-part Wednesday Intelligence series called The Six-Line Silent AI Audit. It maps the core policy lines in your financial institution's program against the AI exposures the forms were never written to address. Part 1 covers D&O and EPLI, where "wrongful act" definitions assume a human made the decision and algorithmic discrimination doesn't map to your form's coverage trigger. Part 2 covers...

AI lawsuits up 978% since 2021. Most policies never mention AI. One topic. Three articles. The full "Silent AI" picture.

Reading scan time: 5 minutesListening time: 8 mins Your Friday Five This week we're doing something slightly different. One topic, "Silent A.I." Three articles. All on the single most consequential coverage development facing financial institutions in 2026. Most boards haven't been fully briefed on it until now! AI-related lawsuits surged 978% from 2021 to 2025. Most of the policies covering those defendants never mention the word "AI." Silent AI coverage is disappearing from your program...

The NAIC's new carrier capital math. Mr. Greenberg on the cycle, AI, and litigation pressures. And a Texas court's ruling is a lesson for all MGAs!

Reading scan time: 5 minutesListening time: 8 mins Welcome to Your Pride's Friday Five after reviewing 200+ insurance, legal, and cyber-risk articles this week, like we do each week.. Here's the news that caught our attention: The NAIC's 2026 strategic priorities hit their first major milestones at the Spring National Meeting in San Diego. Three simultaneous shifts haven't moved at this scale since the post-financial-crisis solvency reforms. Chubb CEO Evan Greenberg's 2025 letter to...

Iran's MuddyWater infiltrated a financial institution before the first bomb dropped. 48 war exclusion wordings. Three channels conflicting...

Reading time: 8 minutesListening time: 8 mins Welcome to Your Pride's Friday Five / Eight Every Friday the team rips through 200+ insurance, legal, and cyber-risk articles into three signals your board can act on Monday morning. The news that caught our attention this week: Trellix published a comprehensive intelligence assessment of Iran's active cyber threat groups. MuddyWater infiltrated a financial institution in Egypt in November. CyberAv3ngers built custom malware for fuel management...

Our process wasn't complicated. That's the point. And why we won.

Reading time: 4 minutes The Renewal That Shouldn't Have Been This Hard We reconnected with a former client last year. A General Counsel we had worked with during our JLT days. She'd moved to a new institution, a sophisticated southeastern regional insurer. Publicly traded. Complex risk profile. Active regulatory exposure. We knew the CFO too. He'd become president. We had pitched him years before. When we reconnected, the GC already understood how we run our process. She'd lived it. What she...

Your 2026 bad faith roadmap, an AI claims reckoning, and two privilege rulings that can't coexist

Reading time: 5 minutesListening time: 8 mins Welcome to Your Pride's Friday Five Every week our team rips through 200+ insurance, legal, and risk articles to surface three events your board needs to hear about in its Monday morning brief. Freeman Mathis & Gary's 108-page annual "bad faith" report spans 26 states. We stripped the auto cases and focused on P&C: three patterns emerged around safe harbors, communication failures, and coverage drafting precision that every carrier and risk...

A landmark ruling weakened an exclusion used to deny board settlements post-deal. How to cover both sides of a transaction & a M&A cyber risk update.

Reading time: 7 minutesListening time: 11 mins Welcome to the Pride's Friday Five Every week our team rips through 200+ insurance, legal, and risk articles to surface three events your board needs to hear about in its Monday morning brief. For two decades, D&O carriers relied on the bump-up exclusion to avoid paying when shareholders didn't like the deal price. The Delaware Supreme Court just told AIG, Chubb, and Berkley that's not how it works, and the implications reach every FI board...

Claude Code Security Alert. And The Question Every FI Board Should Be Asking Right Now: What is Our New Security Standard of Care Threshold?

Reading time: 4 minutes Your New Security Standard of Care: There's a question plaintiffs' attorneys will ask after every data breach in 2027. Many institutions haven't even heard about the premise yet. Much less the answer they'll need post breach. Last week, Anthropic released one of the more interesting self-publications about an AI that scanned production codebases and found bugs that human experts missed for 20 years. The insurance and risk management implications are massive. AI just...