What Does Cyber Insurance Cover? 3rd party cyber liability overview (part 1 of 3)
Posted: July 27, 2021
What Does Cyber Insurance Cover? 3rd party cyber liability overview (part 1 of 3)When looking to transfer technology risks, your cyber insurance should have 1st party and 3rd party coverages along with other include coverages based on the industry you belong to. Insurance companies are constantly studying and updating the ever-changing cyber coverages based on claims and technology growth. Let’s look at what are the major 3rd party cyber liability coverages look like…. These are CLAIMS MADE LIABILITY COVERAGES:...
Business Income Coverage vs. Business Interruption Insurance: What's the Difference?
Posted: July 19, 2021
Business Income Coverage vs. Business Interruption Insurance: What's the Difference?Protecting your business with insurance is essential. It starts with understanding what each type of business insurance covers. Business income coverage and business interruption insurance are terms often used interchangeably – but is there a difference? All business insurance policies vary in what they cover. You may have access to a policy that protects repairs to a facility, damaged inventory, and lost income, or you...
Contractors Are Highly Vulnerable to Ransomware & Data breaches
Posted: July 15, 2021
Contractors Are Highly Vulnerable to Ransomware & Data breachesAll companies handle a certain degree of PII (Personally Identifiable Information). Digital vulnerabilities including poor email protection and remote access of company data are at high risk for contractors and small businesses. As a business owner and a contractor, it is imperative to understand how to identify and protect it. Threat actors are constantly working hard to hack into smaller contractors as it creates a...
Do I Need Business Insurance for my LLC?
Posted: July 4, 2021
Do I Need Business Insurance for my LLC?If you established a limited liability company (LLC), you chose that type of entity for the protection it provides to your personal assets, along with the tax benefits. Unfortunately, even an LLC cannot entirely protect you from some risks. While your personal assets are generally protected, in certain situations, you have almost zero protection. For example, without business insurance, a slip and fall injury accident...
Spotlight on CYBER INSURANCE ~ a critical digital coverage!
Posted: June 28, 2021
Spotlight on CYBER INSURANCE ~ a critical digital coverage!Every business is exposed to ransomware, cyber extortion and data breach. Phishing, Wire Transfer Fraud, ransomware, data breach are common cyber attacks and cyber crime. Since 2000, it’s been accelerated growth of technology. Malware and other small attacks have been a part of our digital platform soon after Internet started in the late 1960s. We all are highly aware and even get insurance protection for our...