How Cloud Computing Changes Cyber Risk Exposures

cyber-2120014_640Cyber risk and cloud computing is a topic that keeps evolving. In a recent study 40% of companies thought they did not need cyber liability insurance. Many thought cyber liability was covered under their business insurance policy. And others thought that if they used the cloud to store client’s information that they had no risk.

A recent example has been the Anthem Health data breach; here over 80 million people may have had their personal data compromised. If a large company like Anthem Health can have a cyber-breach, so can your company. See More Here

How Cloud Computing Will Change The Cyber Risk Landscape

There is no question that cloud computing changes the cyber risk landscape. But using the cloud does not reduce your risk. In fact, using the cloud may increase your risk. As more firms use the cloud, cyber criminals will increase their efforts to brake in, as there is more information for them to steel. Your risk will vary depending on the platform your firm uses. One benefit is that your business may require less in house technology which will reduce operating costs.

Cyber Risks Are Growing

Russian hackers recently stole over 2 billion online names and passwords. Home Depot had millions of customer credit cards stolen. A local restaurant recently had 1200 customer credit card numbers stolen, and finally a medical clinic had a lap top stolen that contained 5,000 patient’s names and confidential information. Every company is at risk for cyber theft and loss.

Cyber Insurance

We can provide your firm with the right combination of pricing and coverage. Cyber risk    insurance is available at very reasonable premiums. Many of our companies offer coverage to help protect your business from loss.

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Home Insurance Update

mf-564445gt66Many homeowners have experienced premium increases. Our agency works very hard to bring our clients the best possible combination of premiums, coverage and service.

What Can We Do To Help?

We are an independent agency.  This allows us to search the market for the best possible combination of premiums, coverage and service. We compare insurance company’s rates and use the competitive market to your advantage. Here are some ways to save on your premiums:

  • Purchase all your insure through our agency
  • Ask us about additional discounts
  • Consider increasing your deductible
  • Keep your home well maintained
  • Replace your roof, water heater and other equipment when needed
  • Review your policy regularly- you may not need the same kind of coverage you did a few years ago

Remember to call our office today. We will work hard for you.

How to Prepare Your Business for Holiday Risks

christmas-card-2945633_640A Business Insurance Update

The next few months are important for every business. The holidays are not just for retailers, as many businesses rely on a healthy last quarter to help them finish the year in the black.  Your business insurance plays an important role in this, as it protects you from un-planned losses.

Here are a few tips to help your business plan for the holiday, and year’s end.

  1. During the holiday shopping season, many businesses hire seasonal workers to help with the increased demand. Make sure all part-time and seasonal employees are properly trained, and understand the requirements of the job.
  2. Employee theft is a big problem during the holidays as well. However, more than just stock or equipment theft, employees have access to other major assets, like cash, too.  Make sure you have proper accounting processes in place.
  3. If your business has increased revenue during the last quarter, verify that your business income insurance will address the seasonal increase.
  4. When it comes to decorations around the office, you will want to ensure that none of them creates opportunities for accidents. This means being aware of extra lighting and candles that might be part of the holiday office décor, and making sure no decorations act as a trip and fall hazard.

Risk And Insurance Issues Faced By Most Businesses

Builders are building a wooden house.A 2018 Business Insurance Update

Risk management and insurance issues that your local business faces are not that much different from those faced by fortune 500 companies; fortune 500 companies’ risks are just larger and possibly more complex.  Making sure that you have the right kind of business insurance for protecting your operations is our number one goal.

Recently, PC360.com ran an article describing the top risks for large corporations.  We thought we would relate these risks to your local business, and suggest some insurance that your business should consider to cover these risks.

  • Business Interruption Insurance – This can include lost net income, continuing expenses, and even relocation expenses. This coverage is not always automatic, and needs to be added with specific limits.
  • Directors and Officers Liability – Directors and officer’s liability insurance helps protect your business, owners, executives, and managers if individuals, competitors, third parties or government regulators make claims.
  • Regulatory Compliance Issues – New regulations and contractual risks are increasing for all organizations. Issues include; contracted employee, healthcare, workers’ compensation laws, environmental issues, cyber reporting requirements, and more.
  • Employee Safety – Maintaining a safe working environment should always be a top priority for your business.
  • Cyber Liability – Did you know that the average business has a greater chance of having a cyber breach than it does of having a fire? It is true, and your business insurance policy most likely will not cover cyber liability losses. “This new world of connected devices promises insights on which companies can base strategic decisions. But the ability to obtain more information brings the responsibility to use that data appropriately, maintain customers’ privacy, and practice effective cybersecurity.”  com

 

How to Minimize Holiday Risks

Asanta-2933399_640 Personal Insurance Update

November is here and that means the holiday season has started.  Over the next number of weeks, holiday activities will consume much of our time.  This is also the season when homeowners have insurance claims for fire, burglary, theft from vehicles, and even auto accidents.

Now may be the best time to have us review your personal insurance in order to make sure you have the individual coverage you need.

Shopping Safety Tips

  • Always be aware of your surroundings.
  • Put your shopping bags in your trunk.
  • NEVER leave car doors unlocked or windows open.
  • ALWAYS park in lighted areas. Do NOT park in remote areas.
  • Shop with a friend.
  • Keep receipts in your wallet or purse.
  • Avoid carrying large amounts of cash.
  • As you return to your car, make sure to keep your car key in your hand.
  • If you make expensive purchases, like jewelry or guns, call our office, as we may need to add these to your policy.

Christmas Tree Safety (provided by the NFPA)

  • Make sure the tree is at least four feet away from any heat source, like fireplaces, radiators, candles, heat vents or lights.
  • Make sure the tree is not blocking any exit or door.
  • Add water to the tree stand daily.
  • Never use lit candles to decorate the tree.
  • Only used approved lights.
  • Connect no more than three strands of mini string sets and a maximum of 50 bulbs for screw-in bulbs
  • Replace any string of lights that has worn or broken cords or loose bulb connections.

Home Safety Tips

If you are planning a vacation during the holiday, here are few ideas to consider:

  • Get a security system.
  • Trim landscaping that is too close to your house.
  • Don’t advertise your vacation on social media.
  • Cancel mail and other deliveries.
  • Leave lights on when gone.
  • Have a neighbor check on your home.
  • Always lock your garden sheds and garages.
  • Use a variable light timer to activate lights inside your home.

How Your Business Can Recover From a Natural Disaster

fowey-268656_640A Business Insurance Update
Hurricane Harvey’s impact will be felt for the next three to five years, or even longer. Many affected businesses may not survive.  It is our hope that all the people and businesses impacted by Harvey will recover as soon as possible.  For those businesses that had flood insurance, the recovery will be helped through the insurance resources.  There are other kinds of disasters, or losses, which can cause your business to be shut down.  Now is the time to have us complete a business insurance review. We can offer many coverage and pricing options for your business.

Disaster Planning for Your Business

  • Review your commercial insurance. Being proactive can help in the end.  We can help you determine what coverage is best suited for your individual business needs.
  • Put together a crisis team and a plan. Design a plan for the kinds of disasters you are likely to have.  Have contingency plans for continued operations. This may mean developing agreements with other businesses for use of their facilities or locations for a short term.
  • Meet with your insurer as soon as possible. Developing a relationship with your claims adjuster is critical.  Be willing to provide all information required.
  • Request an upfront partial payment. This will help you fund your recovery.
  • Be prepared to document all expenses. It might even help to hire an accountant to help you with post loss expenses and documentation.

Home Insurance Update

WdfUakorkR1ZOFPrMany homeowners have experienced premium increases. Our agency works very hard to bring our clients the best possible combination of premiums, coverage, and service.  Homeowners insurance plays an important role in society. It protects your most important financial asset, your home. Remember, each homeowner’s insurance policy is different, and if you bought your homeowners insurance online, you may not have proper coverage.

What Can We Do to Help?

We have the benefit of being an independent agency.  This allows us to search the market for the best possible combination of premiums, coverage and service. We compare insurance companies’ rates and use the competitive market to your advantage.  Here are some ways to save on your premiums:

  • Purchase all your insurance through our agency.
  • Ask us about additional discounts.
  • Consider increasing your deductible.
  • Keep your home well maintained.
  • Replace your roof, water heater, and other equipment when needed.
  • Review your policy regularly. You may not need the same kind of coverage you did a few years ago.

Remember to call our office today.  We will work hard for you.