Tag Archives: Insurance
Top Cyber Liabilities For Businesses
As technology has evolved, so have the ways in which it can be exploited. As October is National Cyber Security Awareness month, it’s important that every business take a look at their current cyber practices and the new trends in technology in order to be aware of potential sources for cyber attacks and to protect themselves accordingly. In addition to having Cyber Liability insurance to cover them in the event …
Cyber Liability: Small Businesses Increasingly Targeted by Hackers
Small businesses are increasingly the target of hackers. In fact, according to figures by a major insurance carrier, in 2014, 60% of all online attacks targeted small and mid-size businesses. The reason: Limited security budgets, outdated security and lax employees, which can leave holes easily exploited by ever-more-sophisticated digital criminals.
Indeed, according to many experts in the cyber security field, smaller companies are easier to hack, as they don’t have …
Cyber Crime: The Impact of Telephone Toll Fraud on Small Business
In our previous blog, we discussed the need to review your Cyber insurance policy to fully understand the coverage you have and close any potential gaps that may exist. The insurance market, as innovative and responsive as it has been over the years in addressing the emerging risk of cyber and the nefarious and creative ways hackers get at data, is still evolving in this area and continually …
Are There Holes in Your Cyber Insurance Coverage?
Increasingly more firms are realizing the true value of Cyber Liability insurance to address their exposures to computer fraud or attacks. This goes beyond just large corporations who rank cyber among the top risks they face today. Small and mid-sized businesses in fact are now beginning to understand the extent of their risk and how a cyber incident can not only affect their bottom line but also their reputation among …
Choosing the Right Fit for Your Board of Directors
If you’re a private or non-profit company, you may be looking to add to your Board of Directors. This important body sets annual budgets, operational goals, ensures funds are available for those operations, and evaluates the job performance of the CEO. Most boards of directors have several top-level positions responsible for various aspects of the overall operation of the company. The CEO is the highest-ranking member of the board and …
HIPAA Exposures Grow with the Use of Standard Messaging Apps in Healthcare Industry
Messaging applications over standard consumer communication platforms are increasingly being used to streamline and facilitate workflow among healthcare providers and organizations. But along with the benefits of these applications also come the risk of data breaches and other HIPAA liability exposures. These exposures include the loss or theft of devices with stored protected health information (PHI), the lack of encryption in the messages, the use of technology in public spaces …
Reducing Legal Malpractice Claims
Attorneys are on the frontline of lawsuits defending clients against allegations of malpractice or errors and omissions related to the performance and delivery of work. Equally, attorneys can also find themselves sitting in the defendant’s chair when an unhappy client turns the table on them and sues for legal malpractice.
Yet, when a legal malpractice claims is made, often they can be resolved early on. The key is not to …
Purchasing Fiduciary Liability Insurance in Today’s Market
A Fiduciary Liability insurance policy is designed to protect the personal assets of company fiduciaries (trustees, benefits administrators) in addition to the financial assets of the company and employee benefit plans against lawsuits alleging plan mismanagement, and improper investing, insufficient funding, among others. But today’s policies go well beyond breaches of fiduciary duty and administrative errors and omissions; they have been crafted to address the complex and ever-evolving modern risks …
EPLI Issue Highlighted As Former USC Coach Sues for Discrimination, Wrongful Termination
Just recently the University of Southern California (USC) made headline news when it was announced that former head football coach Steve Sarkisian is suing the school for more than $12 million, putting an important employment practices issue front and center. Sarkisian was fired in October for drinking on the job. He claims USC discriminated against him because he has an alcohol problem, which is considered a disability.
Under the American …
The Importance of Forensics in a Cyber Attack
On numerous occasions, we have discussed the importance of having a strong cyber plan in place that outlines the steps to take before and after a data breach or compromise occurs, including having a robust Cyber Liability insurance policy to respond to the various costs incurred in the wake of a incident. One of these costs involves forensic investigation by a security firm to determine the extent of a breach, …
