"cyber liability" Archives

  1. NEWS BRIEF: Equifax to Compensate Victims of Data Breach

    The Background In 2017, Equifax, one of the largest credit reporting agencies in the United States, was the victim of a massive cyber attack—an attack that compromised the personal information of approximately 147 million people. On July 22, 2019, the company agreed to pay at least $575 million—and up to $700 million—as part of a […]

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  2. Cloud Computing: Opportunities and Risks in the New IT Landscape

    by talessandra

    Cloud computing is transforming the IT landscape. It eliminates the need for businesses to invest in standalone servers and software that are capital intensive but not in use a majority of the time. It reduces overhead costs, such as management, IT personnel, data storage, bandwidth and power. And it can stretch or shrink to meet […]

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  3. A ‘Cybersecurity Bill of Rights’ for Insurance Consumers

    by talessandra

    The 2015 calendar year has seen more than its share of crippling data breaches. But the most reported and discussed are only a few of the epic and ever-growing number of breaches occurring each year. Some prime examples include the theft of: background checks of 22 million federal employees from the Office of Personal Management; […]

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  4. Know Your Numbers: Coverage Gaps Often Lead to Massive Unanticipated Costs

    Coverage gaps can often prove fatal to organizations of many shapes and sizes. While this is known to many business owners in an abstract sense, we’d like to make it more concrete. How much can it really cost to have gaps in your coverages? Which coverages are most often overlooked? Which are most costly? Two […]

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  5. Will Your Business Be Sued for Liability in 2016?

    by talessandra

    Millions of liability-related lawsuits are filed each year, costing businesses billions of dollars. With a median sticker price of over $50,000, each liability suit is like a ticking time-bomb. Though many may be settled outside of court, businesses around the country are crippled every year by the burden of paying legal fees, settlement costs, and […]

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  6. Top 5 Questions Businesses Should Be Asking about Cyber Liability

    by talessandra

    Cyber attacks are growing increasingly prevalent and menacing throughout California and across the country. Businesses of all shapes and sizes have proven susceptible, and massive quantities of data have been compromised. And while there are a number of steps that can be taken to reduce the likelihood that cyber attackers will be successful in penetrating […]

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  7. Insurance Solutions Resource Library

    Businesses in the 21st century face a variety of threats, new and old. Business insurance staples are as useful as ever, while newer coverages like cyber liability, employment practices liability, specialty gap coverage insurance, and more are becoming increasingly common and indispensable. Electronic data protection and management alone can open up small businesses to significant […]

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  8. Why Do CEOs Buy Insurance Like Their Grandfather’s Did?

    Many companies continue to buy insurance like they did over 30 years ago. Back then, there was no Internet, sales efforts began with the Yellow Pages and a Rolodex, and smart phones were only found in science fiction movies. Today, it’s time for CEOs to change this legacy approach. Giant brokers promise value added services […]

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  9. Cyber Liability – A Growing Threat

    by talessandra

    With each passing year, increasingly large quantities of sensitive and business-critical data are stored on computers – specifically networks. This data storage method is highly efficient for accessibility and sharing, and contributes greatly to modern levels of business productivity. Yet, by its very definition, this system can increase the likelihood of unauthorized access to your […]

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  10. Fatal Coverage Gaps Emerging for Business Owners

    by talessandra

    Fatal coverage gaps are now emerging for business owners. These come in many forms, shapes, and sizes, but the top 5 are: Employment Practices Liability Insurance Business Interruption Cyber Risk & Liability Product Recall Pollution Liability & Spill Planning Where does your business stand with these risks and coverages? Each business has its own unique […]

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