Did you know that average businesses located in the United States lost $200,000 a year as a result of cyber attacks?

Some studies have found that cyber attacks are the largest risks that European and North American companies face.

No matter what industry your company services or how large your organization is, your company has a cyber risk. That's why it's important for you to learn about cyber liability insurance and how it can protect your company.

Keep reading to learn more!

What Is Cyber Liability Insurance?

Cyber liability insurance will protect your company's liability for any data breaches. The type of breeches your company can cover can involve the leaking of customer information that is sensitive, such as health records, credit card numbers, Social Security numbers, driver's license numbers, and bank account numbers.

Cyber liability insurance is different than general liability insurance. This is because general liability insurance only covers property damage or injuries that have resulted from your company's operations, product, and services.

What Does It Cover?

Cyber liability insurance will cover legal expenses and fees. Also, this type of insurance will help your company with:

• Repairing any damaged computer systems
• Notifying your customers about the data breach
• Attempting to recover any compromised data
• Restoring the identities of any customers that have been affected

When your company begins to hold any personal data from your customers (or even your employees), your company may be legally obligated to follow data breach Laws that are state-specific. By using cyber liability insurance, you can help cover all of the costs that ensure your company complies with state laws, federal laws, and even international laws.

Why Your Company Should Consider Buying Cyber Liability Insurance

Keeping your customers safe isn't the only reason why you should consider buying cyber liability insurance. Your company will also benefit from the stipend of insurance if your cybersecurity ends up failing.

No matter how strong your network security is, there's still a chance that your security could be penetrated. If your security does end up failing, cyber liability insurance will act as a backstop to keep your company safe.

In addition, depending on the state you live in, it may be necessary for your business to purchase this type of insurance to comply with regulations. Some industries, such as finances and health care Industries, have to have this type of to keep up with current regulations.

Understanding the Importance of Cyber Liability Insurance

Whether your business is sending, receiving, or storing electronic data, cyber liability insurance will protect your company in the instance of a data breach.

Even records such as sales projections, phone numbers, tax records, and other types of information necessary for your business to run should be protected with cyber liability insurance.

Are you not sure what type of coverage your company needs? We're here to help you! Click here to learn more.

There is an increased number of exposures that a company's officers and directors have to face when it comes to the recent need for accountability and transparency on a corporate level.

No matter the mission of your company or how large your organization is, there is a chance that legal costs that are associated with a lawsuit could be potentially crippling both your company, as well as your officers and your directors.

One mistake the companies what can make as a sending that Directors & Officers insurance is only necessary for companies that are publicly traded. However, even if you have a privately-held organization, there is a chance that you are officers, and directors can be held responsible in a lawsuit. That is why D&O Insurance is essential for your company.

Are you interested in learning more about directors and officers insurance and why your company needs it? We've created a quick guide to help you better understand. Keep reading to learn more!

What Is Directors and Officers Insurance?

Directors & Officers liability insurance is a type of coverage that protects individuals that fill a leadership role in a company from losing any personal assets if they are sued as a result of serving their role in an organization or business. D&O insurance also protects individuals from any costs, such as legal fees, if an organization is sued.

Benefits of Directors and Officers Insurance

There are many unique benefits of Directors & Officers Insurance. Some of the benefits that a privately held organization can expect to see include:

Peace of Mind

Claims for Directors & officers can come from government bodies, contractors, clients, and even employees. If you are a privately held company, it's prevalent for competitors and creditors to make claims. Investing in Directors & officers insurance will ensure that the company's leaders are protected, no matter what type of claim is made.

Reimbursement for Any Related Legal Costs

If there ever is a claim that is made, a director and officer's insurance policy will keep your company covered against any legal costs that arise, no matter what type of claim is made. Your insurance policy will provide reimbursement to any company leaders that hire legal help following claims made for financial mismanagement, any allegations of inappropriate or wrongful acts, negligence, or errors in judgment.

Investing in Directors & officers insurance is essential, especially since these types of lawsuits can often appear without any warning. Also, these types of lawsuits can easily reach unimaginable figures, keeping your leaders protected with the right insurance policy.

Understanding Why You Need a Directors and Officers Insurance Policy

Many privately-owned organizations don't believe they need to front the cost for Directors & Officers insurance policy. Even just one Directors & Officers claim can drain all of the assets that are personally held by each of the leaders in your company.

If you're interested in learning more about how your company and the leaders in your organization can be protected by Directors & Officers Insurance, feel free to contact us today.

Did you know that 1 million employment discrimination complaints have been filed with the government since 2010?

When it comes to small businesses, a single lawsuit can bring the whole business burning to the ground. Besides, small business owners already wear a multitude of hats to operate their business.

They definitely don't have the time to keep up to date with the latest regulations. Unfortunately, this makes navigating the legal environment rather difficult. This is where EPL insurance comes in.

Read on for a thorough breakdown of what EPL insurance stands for, as well as the benefits it brings to small businesses.

What Is EPL Insurance?

Employment Practice Liability (EPL) insurance is a policy that protects business owners from lawsuits or claims. These claims can be filed by either current or former employees in regard to their employment.

There's a multitude of claims that fall under the employment relationship umbrella. For example, claims of harassment, wrongful termination, discrimination, and breach of contract.

In the simplest of terms, a work environment should be free of the following characteristics. If not, then an employee (or former employee) can file a claim against the business in question.

• Wrongful Termination - this can be filed when termination of service by the employer has occurred due to what can be seen as an "unnecessary" layoff or downsizing of a current salary package for no legitimate reason
• Breach of Contract - similar to wrongful termination, this applies when the terms of a contract are broken without a legitimate reason
• Discrimination or Harassment - any discrimination or harassment by an employer that's based on race, creed, age, disability, sexual orientation, health (both physical and mental), financial status and other socio-economic factors
• Violation of Laws - this is a case where employees conduct an operation following their employer's orders that happen to be in violation of federal laws, state laws, and/or civil rights
• Hostile Work Environment - when employers foster a toxic environment. This environment causes stress, the development of a mental condition or worsens an existing mental condition of their employees

The following regulations are a sample of what employees can claim against their employers. Of course, regulations will also depend on the state in question.

A solid EPL insurance would protect a business owner from all of the above.

The Benefit of EPL Insurance: Reducing Employee Liability Risk

This brings us to the main benefit of having a concrete EPL insurance in place for your business.

In short, it significantly reduces your employee liability risk. By having one in place, you can address the work environment issues we've discussed with the confidence that your business won't be negatively impacted.

Employment Practices Liability: Unlocked

Asking a small business owner to decipher their state's ever-changing employment regulations and rules can be a cruel and unusual punishment.

It's so important to have EPL insurance for your business since a lawsuit from your own employees can cause you untold amounts of grief.

Thankfully, now you know all about what EPL insurance covers and how it works. Yet, there is so much more to learn. Make sure to check out our site for other insurance policies like long-term disability insurance.

In addition, contact us now, as we'd be delighted to help you figure out what insurance policies you may need for your business.

Did you know that the average cost of inland marine insurance is $2,500 per year?

While you may not be interested in shelling out any more money for your business, you probably don't understand the importance of an inland marine insurance policy. If your company stores property away from your business or you're regularly transporting property, investing in inland marine insurance is essential for your company's longevity.

What is inland marine insurance and how can it benefit your company? If you're unsure, we've created a quick guide to help you better understand. Keep reading to learn more!

What Is Inland Marine Insurance?

Inland marine insurance is a type of insurance that you purchase for your business that will cover materials, products, and any equipment when it is being transported. This type of insurance will only cover you if you're transporting on land. The term "inland marine" is opposed to marine insurance, which insures items that are being moved on the water.

Using inland marine insurance will ensure that your company and your company's property is protected during transportation. You can invest in inland marine insurance as a type of add-on to any business insurance policy that is already existing. You can also purchase this policy as a separate insurance policy.

What Inland Marine Insurance Covers

The property that your company owns will be protected, no matter where it's currently located. This is unlike commercial property insurance, which only covers damage or property loss when your property isn't on the premises of your company.

Some of the items that are covered under inland marine insurance include:

• Property that is being transported
• Property that you're currently holding onto for another person or company
• Property that moves from place to place
• Property installed inside of a vehicle
• Property that's being used for communication
• Properties being used for transportation

Some of the most commonly covered perils include:

• Civil commotion
• Theft
• Vandalism
• Fire
• Damage from vehicles
• Damage from airplanes
• Windstorm
• Hail
• Smoke from an accidental fire
• Water damage
• Building collapse
• Sinkhole collapse

If you have any equipment that has a high value or expensive goods that are being transported, investing in inland marine insurance can be a great idea for your business.

Understanding How Your Company Will Benefit From Inland Marine Insurance

By investing in inland marine insurance, you're protecting all of your company's highly valuable assets, no matter where they' e located. If your company is looking to protect and insure your property, take the extra step up for caution and invest in inland marine insurance.

This will provide you with an extra layer of coverage aside from standard commercial property insurance policies. This is imperative if you have a property that isn't located on the premises of your business. Inland marine insurance will protect equipment, tools, goods, and inventory that are moved from different job sites or to a different location.

Are you interested in signing up for an inland marine insurance policy? Click here to contact us today if you have any questions or concerns.