The Hunton Policyholder’s Guide to Artificial Intelligence: SEC’s Recent AI-Washing Claims Present D&O Risks, Potential Coverage Challenges
July 08, 2024 —
Geoffrey B. Fehling, Michael S. Levine & Alex D. Pappas - Hunton Insurance Recovery BlogWe have previewed in prior posts the ways artificial intelligence is rapidly changing the way business operate, including the many ways AI has influenced the insurance market, creating both opportunities and risks for policyholders. We later highlighted, based on a recent securities lawsuit, how corporate management may be at risk for the alleged use or misuse of AI and how companies should evaluate their directors and officers (D&O) and management liability policies to ensure that they are prepared to respond to and mitigate AI-driven risks, including claims alleging that a company or its officers and directors made misrepresentations about AI.
That potential risk now has regulatory teeth, as the US Securities and Exchange Commission recently charged the founder of an AI hiring startup with fraud based on claims about using AI to help clients find diverse and underrepresented candidates to fulfill diversity, equity, and inclusion hiring goals.
Reprinted courtesy of
Geoffrey B. Fehling, Hunton Andrews Kurth,
Michael S. Levine, Hunton Andrews Kurth and
Alex D. Pappas, Hunton Andrews Kurth
Mr. Fehling may be contacted at gfehling@HuntonAK.com
Mr. Levine may be contacted at mlevine@HuntonAK.com
Mr. Pappas may be contacted at apappas@HuntonAK.com
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Congratulations to BWB&O for Ranking #4 in Orange County Business Journal’s 2023 Book of Lists for Law Firms!
April 10, 2023 —
Dolores Montoya - Bremer Whyte Brown & O'Meara LLPBremer Whyte Brown & O’Meara, LLP is excited to announce that Orange County Business Journal has ranked our firm as a top 4 law firm in the 2023 Book of Lists!
BWB&O continues to grow and strives to provide a consistently excellent work product and solution-oriented approach to our clients’ legal issues, coupled with hiring, and retaining diverse and outstanding lawyers, all while providing an outstanding work life balance/integration. We foster a culture that embraces family, friendship, and fun while also supporting individual growth.
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Dolores Montoya, Bremer Whyte Brown & O'Meara LLP
New Report: Civil Engineering Salaries and Job Satisfaction Are Strong and Climbing at a Faster Rate Than Past Reports
October 16, 2023 —
The American Society of Civil EngineersRESTON, Va. – Civil engineering salaries continue to trend up and at a higher rate than recent years according to the
2023 ASCE Civil Engineering Salary Report today released by the
American Society of Civil Engineers (ASCE), which cites a median pre-tax income from all sources of $128,000. Base salaries have risen by approximately 7% from 2022 to 2023, up from approximately 6% from 2021 to 2022 and 5% from 2020 to 2021. The median primary income for those civil engineers with a Professional Engineers license was $132,000, nearly $30,000 more than those with no licenses or certifications.
"The current workforce crisis has created a great demand for civil engineers that the U.S. Bureau of Labor Statistics states will continue for the next decade," said ASCE 2023 President Maria C. Lehman, P.E., ENV SP, NAC, F.ASCE. "When you consider the age and condition of much of our infrastructure, along with the additional funding being brought to bear, the demand will continue."
The report also shows high job satisfaction and opportunities for career growth in 2023. Of the salary survey respondents, 66.3% reported being satisfied or very satisfied with their financial compensation, up from 63.3% in 2022. That number was even higher, though, when asked about overall job satisfaction: 86.7% said they were satisfied or very satisfied with their jobs. In a field that plays such a large role in giving back to and shaping communities, employees want to feel like their role is impactful and creating positive change for others.
The ASCE Civil Engineering Salary Report is released every fall, collected from responses of Society members about their jobs and financial compensation. This year's report is derived from over 3,200 member responses.
ABOUT THE AMERICAN SOCIETY OF CIVIL ENGINEERS
Founded in 1852, the American Society of Civil Engineers represents more than 150,000 civil engineers worldwide and is America's oldest national engineering society. ASCE works to raise awareness of the need to maintain and modernize the nation's infrastructure using sustainable and resilient practices, advocates for increasing and optimizing investment in infrastructure, and improve engineering knowledge and competency. For more information, visit www.asce.org or www.infrastructurereportcard.org and follow us on Twitter, @ASCETweets and @ASCEGovRel.
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Fence Attached to Building Covered Under Dwelling Provisions
March 01, 2017 —
Tred R. Eyerly – Insurance Law HawaiiThe Texas Supreme Court determined that a damaged fence attached to the insureds' dwelling was covered under the dwelling provisions, not the "other structure" portion of the policy. Nassar v. Liberty Mutual Fire Ins. Co., 2017 Tex. LEXIS 113 (Tex. Jan. 27 ,2017).
The insureds' owned six acres of property. Hurricane Ike caused significant damage to the property on September 13, 2008. The insureds submitted a claim to Liberty Mutual under their homeowners' policy. Liberty Mutual paid several claims, but disputes arose over the value of various items of damaged property, including the fencing on the property. The insured's fencing spanned over 4,000 linear feet, including a white picket fence at the northeast corner of the dwelling, an ornamental iron fence in front of the dwelling, numerous cross fences, garden fences, and a larger, perimeter fence.
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Tred R. Eyerly, Insurance Law HawaiiMr. Eyerly may be contacted at
te@hawaiilawyer.com
Hurdles with Triggering a Subcontractor Performance Bond
April 05, 2017 —
David Adelstein – Florida Construction Legal UpdatesThere have been a couple of decisions as of late, particularly in federal court, that have gone in favor of a performance bond surety and against a general contractor’s claim against a subcontractor’s performance bond. These decisions have been so unfavorable that they may be swaying certain internal decisions to move to subcontractor default insurance with, perhaps, subcontractors that pose less risk. From the general contractor’s perspective, if they have to stop the management of the job and progress to jump through hoops to trigger the performance bond’s obligations, rightfully or wrongfully, the bond may not provide them the value they need. Performance bonds are an appropriate product in many instances, but there should be more consistency regarding the actual trigger of a subcontractor’s performance bond obligations. Project teams need to absolutely understand what efforts they need to take, and how they need to take such efforts, in order to properly trigger a performance bond’s obligations. This is a must (and I have presented many seminars on this very issue). Or, the general contractor should move away from the traditional AIA /standard performance bond form, which is the direction I always go when I am involved in the drafting of a performance bond.
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David Adelstein, Florida Construction Legal UpdatesMr. Adelstein may be contacted at
dadelstein@gmail.com
The Construction Project is Late—Allocation of Delay
November 17, 2016 —
David Adelstein – Florida Construction Legal UpdatesThe construction project is late. Very late. The owner is upset and notifies the contractor that it is assessing liquidated damages. The contractor, in turn, claims that the project is late because of excusable, compensable delays and, perhaps, excusable, noncompensable delays. This is a common and unfortunate story between an owner and contractor on any late construction project. Now the fun begins regarding the allocation of the delay!
Through previous articles, I discussed that in this scenario the burden really falls on the contractor to establish that the liquidated damages were improperly assessed against it and, thus, it is entitled to additional time and/or extended general conditions as a result of excusable delays. Naturally, this requires the contractor to develop a critical path analysis (time impact analysis) allocating the impacts / delays (and the reasons for the impacts/ delays) to the project completion date. The reason the burden really falls on the contractor is because the owner’s burden is relatively easy – the project was not complete on time pursuant to the contract and any approved changed orders.
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David Adelstein, Katz, Barron, Squitero, Faust, Friedberg, English & Allen, P.A.Mr. Adelstein may be contacted at
dma@katzbarron.com
World Cup May Pull Out of Brazil because of Construction Delays
January 28, 2014 —
Beverley BevenFlorez-CDJ STAFFBack in October of last year, CNN reported that a judge suspended construction at one of the stadiums being built for this summer’s World Cup in Brazil. The judge stated that the dangers for construction workers included "being buried, run over, falling from heights and being hit by material, among other serious risks,” according to CNN.
Recently, the Los Angeles Times reported that FIFA is threatening to pull out of Brazil because of construction delays: “We cannot organize a match without a stadium,” Jerome Valcke, FIFA’s secretary general, as quoted in the Los Angeles Times. “This has reached a critical point.”
The deadline for completion of the 12 World Cup stadiums was January 1st, but various delays—including “fatal construction accidents at stadiums in Sao Paulo, Brasilia, and Manaus” as well as worker walk offs over pay—forced FIFA to “relax” the deadline.
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6 Ways to Reduce Fire Safety Hazards in BESS
January 02, 2024 —
The Hartford Staff - The Hartford InsightsRenewable energy sources, such as solar and wind, are projected to generate 44% of all power in the U.S. by 2050, which is increasing the need for battery energy storage systems (BESS).1
BESS are electrochemical devices that collect energy from a power grid, power plant or renewable source, hold it, and then discharge that energy later to provide electricity on demand.
“A BESS does not itself create or produce energy, it is a storage system. The energy is produced by other means, including different types of renewable sources. Think of a cellphone – you charge it overnight and then it runs throughout the day off that battery power,” says Stacie Prescott, head of energy for middle and large commercial at The Hartford.
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The Hartford Staff, The Hartford Insights