Thursday, July 28, 2022 Over the past few years, cyber insurance was cheap—low rates, high limits, more than enough coverage to go around, and flexible contracts with little to no underwriting. But today’s cyber insurance marketplace is quite different. With rising cyber risk and loss ratios, cyber insurers have raised premiums. READ MORE >>
Monday, July 25, 2022Business interruption coverage is an essential insurance needed by all businesses. The costs of restoring a business’s operations can easily exceed the actual cost of repairing the damage. The length of time a business is not in operation can put you out of business. READ MORE >>
Thursday, July 21, 2022With cyber claims continuing to skyrocket, in addition to insurers raising rates, insurers are also tightening underwriting. One of the critical questions now being ask is if the firm has multifactor authentication (MFA). We know of at least one claim where an insurer is denying coverage because the firm did not have MFA but answered on their application that they did. READ MORE >>
Tuesday, July 19, 2022 When a data breach or cyber attack occurs, IT forensics is an essential first step in the recovery process. IT forensic professionals can preserve evidence necessary for law enforcement, court proceedings, insurance claims, and restoring systems. READ MORE >>
Wednesday, June 1, 2022Here are examples of past cyber claims: 1. Your client is about to close on a business deal that you and the client have been working on months. The money transfer is scheduled by close of business on Friday. Unbeknownst to you and your client, months ago cyber-criminals hacked your client’s e-mail. READ MORE >>
Monday, March 14, 2022As you looked at that title, did you think, “There is no way I need this type of insurance?” After all, you aren't in the medical field or another field that keeps private information. Or are you? Ask yourself these questions: 1. Do you store non-public information about employees? READ MORE >>
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, October 6, 2021This is the time of year that many businesses put their affairs in order. Insurance agencies are not much different from every other type of business. At the end of the day, a well-managed business helps improve customer satisfaction and security. Most insurance agencies make heavy use of computer systems in their day-to-day business. 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 >>
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