Cyber Liability Insurance

On April 20, 2011, someone hacked the Sony Playstation Network. They found an opening in the online video gaming network’s password-reset system and penetrated the security protecting its customer database. Days later, the company admitted that the hackers had obtained personal information on 70 million or more subscribers. The hackers got names, physical and email addresses, birthdates, and other identifying information, and it’s possible that they got credit card numbers. Sony took the network offline to reinforce it, but within days of it coming back online, hackers broke in again. Playstation Network is a high-profile target with tens of millions of subscribers, making it attractive to criminals. However, even small businesses that do business over the Internet are vulnerable to 

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3 Steps to Controlling Workers’ Compensation Costs

Workers’ Compensation can be a large cost center for a business. The extent depends on the type of business and the state where the business is located. The cost to insure a single employee making $30,000 per year can range from less than $100 (for a clerical worker) to around $1,400 (for a restaurant worker) to more than $10,000 (for a roofing worker). For employers in industries that require dangerous work, limiting Workers’ Compensation costs is vital. Here are three things they can do. First, employers should prevent injuries from happening. There are as many ways to keep a safe workplace as there are workplaces. However, certain components of a safety strategy are universal:   Keep workspaces clean and free 

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Get Insurance for your Kids in College

Back in the day kids showed up to their college dorms with not much more than the clothes on their backs and a couple of suitcases, maybe a small stereo. A generation ago, laptops were nearly unheard of in college dorms. Obviously, those days are over. Today college students rely on a small arsenal of laptops, tablets, smart phones and other valuable electronic devices – all critical for socializing, as well as completing homework and studying. Access to a laptop isn’t a luxury for students anymore – it’s a must. Homeowners vs. Renter’s Insurance Fortunately, for parents with a homeowner’s insurance policy, most full-time students are covered against theft and other common hazards under that policy if their primary residence 

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Directors & Officers Insurance

For the last several years, stories of wrongdoing and bad judgment by corporate managers have filled the headlines. Enron, Worldcom, and Countrywide are just some of the companies that became household names because of mistakes or criminal acts their leaders committed. These stories became big news because they were exceptional; the vast majority of companies do not fail in such a spectacular fashion. However, all corporate managers have the potential to make mistakes, and some mistakes can lead to significant losses for the company, its shareholders, employees and vendors. When this happens, having the appropriate insurance coverage can make all the difference between survival or corporate and personal bankruptcy. General Liability Insurance Most businesses carry commercial general liability insurance that 

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Do I Need Terrorism Insurance For My Business?

Terrorism insurance is provided by a public or private risk-sharing partnership. It gives the government and insurers the responsibility of sharing losses if there is a terrorist attack. This coverage is offered as a special add-on feature or endorsement to commercial property insurance. If there is a terrorist attack, a regular business policy will not cover losses resulting from terrorism. In 2002, Congress implemented the Terrorism Risk Insurance Act. It ensures that businesses will have the necessary resources to recover in the event of a terrorist attack. As part of TRIA, all U.S. insurance companies offering property and casualty coverage are required to offer terrorism insurance. What Does Terrorism Insurance Cover? Damaged equipment, furnishings and buildings are covered under a 

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