The work of a Government Contractor, whether operational, security, construction, or technology related, contains a unique set of risks. Those risks need to be closely reviewed to ensure the proper coverage is in place to help transfer risk and mitigate losses. The below areas of focus remain challenging for Government Contractors in securing the best insurance and risk management program unique to their operations.
Identifying and mitigating insurable risks arising out of a constantly shifting operating environment.Challenges associated with securing proper coverage is often difficult for small and mid-sized contractors without the help of an industry expert with access to markets and resources specific to Federal Government Contracting requirements/exposures.Working with seasoned contracts professionals to not only transfer risk, but also more accurately price bid proposals in light of a shift to lowest price technically acceptable procurement and fixed price contract vehicles. Cyber risk implications for US Government contractors, including compliance issues, cybersecurity, risk management solutions that go beyond insurance, and third-party cyber risks. Designing bespoke professional liability/professional indemnity and cyber/privacy liability programs to keep pace with diversifying business needs and more sophisticated threats. Risks of OCONUS contracting and contracting directly with foreign governments, including regulatory, political, and economic risks; contracting and legal risks; and financial risk as well as solutions for mitigating the exposures. Adopting a holistic view of international deployments to include global employee benefits, foreign workers’ compensation, defense base act (DBA) , personal accident and kidnap & ransom.Challenges associated with sending employees to into harm’s way, including strategies for ensuring safe transport as well as for maintaining their security once they are there. The COVID-19 pandemic challenges all aspects of work. As businesses attempt to return to work, there are many new liability risks and employer obligations to consider. How an employer assesses, implements, and communicates new policies and procedures will have a lasting impact on employee productivity, engagement, and commitment. The merger and acquisitions (M&A) landscape, including risk manager’s roles in M&A, due diligence and cyber and human resources issues, and the role of representations and warranties insurance.