L Squared Insurance Agency Blog: cyber insurance
View the latest blog posts from L Squared Insurance Agency.
Tuesday, November 16, 2021 This is from a recent e-mail from Prowriters. Good Advice for everyone: If renewing your Cyber insurance policies has become harder, it’s likely because carriers have become more vigilant about making sure organizations they cover have certain critical controls in place. READ MORE >>
Tuesday, November 16, 2021Business interruption insurance coverage is an essential coverage needed by all businesses. It is common that the costs of restoring a business’s operations can easily exceed the actual cost of repairing the damage that caused the business interruption. If the firm’s building has a fire, it can take months to repair the building. READ MORE >>
Wednesday, September 22, 2021Cyber Security is a must of all businesses. Cyber Insurance is a key piece of Cyber Security. Cyber Insurers are now starting to require the implementation of email authentication. The following are controls that with help of a cyber security vendor can be implemented within 24 hours. READ MORE >>
Wednesday, August 18, 2021With people working remotely data breach and intrusion protection are more important then ever. The frequency of Data Breaches and Ransomware Attacks has never been higher. Cyber Insurers continue to have an exponential increase in claim frequency and Ransomware payment amounts continue to increase. READ MORE >>
Thursday, February 18, 2021Here are a few examples of claims made. None of these law firms had a cyber policy: 1. Your client is about to close on a business deal that you and the client have been working on months. The money needs to be transferred by close of business on Friday. READ MORE >>
Wednesday, April 1, 2020Law firms tend to ignore the cyber threats until it is too late. Many are not carrying any cyber insurance unless a client requires it. Without carrying the proper insurance coverage actions or lack thereof to a data breach may cause more problems in the future. READ MORE >>
Monday, October 21, 2019According to one report over 75% of the Cybercrimes reported were from the “The Friday Afternoon Fraud”. This involves criminals modifying emails directly by hacking into the email system of an individual. By monitoring e-mails they can then determine when a deal is about to be closed. READ MORE >>
Thursday, June 6, 2019Did you know that there is a big difference time between when the data breach occurred and when it is discovered? According to the Ponemon Institute the average small business did not know that they were hacked until 197 days after it happened. You may think that your firm is secure, but survey results beg to differ. READ MORE >>
Wednesday, June 5, 2019Most firms believe that they will have a cyber-attack in the next year. According to Travelers 2018 Risk index over 52% of businesses consider it inevitable that they will be a cyber victim. What types of information do you store about clients, vendors and employees? READ MORE >>
Wednesday, April 24, 2019Hiscox is a leading provider of Cyber Insurance worldwide. This is their 3rd Cyber Report, which can give an interesting perspective in trends from prior years. The number of firms reporting a cyber-attack has increased from 45% in 2018 to 61% in the 2019 report. READ MORE >>
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