As an insurance company, it is crucial that you promptly pay valid claims and do not engage in games. Failure to do so can result in a snowball effect, causing a small claim to become much larger. This point is illustrated in this case, where an insurance claim for $500,000 initially started at $250,000. Due […]

Even government agencies are vulnerable to cyberattacks. For instance, in New York, a county’s real estate records or clerk’s office was attacked by a hacker who deleted files, and records and held them hostage. However, the cyberattack was traced back to a third-party records management vendor.  This is a common occurrence in cyberattacks – your […]

Nonprofit organizations face unique cyber risks, such as donor data breaches, that can threaten their financial stability and their reputation. As nonprofit organizations increasingly rely on technology to communicate with donors, manage donor data, and process donations, they become more vulnerable to cyberattacks. This blog will discuss how cyber insurance can help protect nonprofit organizations […]

In the world of business, there is one risk that is greater than any other: cyber risk. Despite being a relatively new type of threat, the potential damage caused by cyberattacks has been identified as the largest business risk that exists. This means that, if you are a business owner, the highest probability of suffering […]

As more small businesses conduct their operations online, they become increasingly vulnerable to cyberattacks. The cost of a data breach or cyberattack can be devastating for any business, but small businesses are particularly vulnerable due to limited resources and infrastructure. Cyber insurance for small businesses can provide much-needed protection and peace of mind in the […]

A data breach is when sensitive, confidential, or otherwise protected information is released to unauthorized parties. It can happen to any company and have severe consequences for the individuals whose personal information has been released. If your personal information has been compromised as a result of a data breach, it is crucial to take immediate […]

Working from home has become a common trend, with many businesses allowing employees to work remotely for various reasons, like saving money, being more productive, and having a flexible schedule. But this trend also brings new challenges, especially regarding cyber safety. Cyberattacks are becoming easier to carry out because of remote work. When employees access […]

For those in the cyber security industry, a troubling trend for cyberattacks is being projected. According to a chart from Statista, the estimated cost of cybercrime in the next five years is supposed to almost triple. If you look at 2022 at 8.4 trillion, by 2027, only five short years later, the cost of cybercrime […]

If you’re a business owner or an insurance company, this is a very important factor to keep in mind for being liable for attorney’s fees. Say you have a case where there are damages or liability and you sue another party, if you have insurance that would cover that potential loss. That insurance will kick […]

For business owners, here’s an extremely important detail to understand about your standard commercial lines policy. Most business owners have a business owner’s policy (BOP) or also known as a commercial package policy (CPP). In any event, your commercial insurance policy has several exclusions from coverage which is important to know for cyber events. Most […]