Data Breach Insurance Caters To Small & Large Businesses

This Potential Gap in Coverage Should Not Be Overlooked...

Insurance companies tend to play the odds better than Las Vegas bookies; if they're starting to offer insurance to protect small business from hacks, you can bet the likelihood and potential cost of attacks has gone way up, even for Small Business Owners.


A survey released this year from Verizon Business estimates almost two thirds of the 760 data breaches recorded in 2010 involved small businesses.   Jason Shroot thinks that is crazy to believe!

The data-breach insurance can potentially covers lawyer fees, penalties, awards from lawsuits and other liability expenses. It also offers ways its customers can bring their security up to speed with regulatory requirements so their security problems won't be their own failure to prepare.
The average cost of a data breach went up five percent between 2009 and 2010, from $6.8 million to $7.2 million. On average, every file you lose to hacker or insider will cost you $214, according to 2010 figures from The Ponemon Insitute.

So, you think that just because your busienss is "SMALL" that it can't happen to you....
Do a quick search on the company name "HB Gary" and "LulzSec" and think again about that!
Not everyone agrees data-breach insurance is necessary, or at least that there aren't other issues to think about before paying for a sense of security you may not need and protection you may not get.
Between hackers trying to break in and regulators offering fines and penalties if you don't make your firewalls high enough, there is enough potential downside to spend a little time on the cost/benefit.


For More Information on  Data Breach Insurance Coverages Please Contact Jason Shroot at 714-988-3325 or jason@diversifiedinsurancequotes.com.  Please Also Visit Jason Shroot at http://www.jasonsellsinsurance.com/. 

Please Also Call Jason Shroot To Get Your FREE Breach Response Guide TODAY!



Top Ten Guidelines To Limit A Company's Risks in Social Media

Top Ten Guidelines To Limit A Company's Risks in Social Media



Social media has become a powerful way for business owners (and individuals) to communicate with clients, prospects, friends, family, referral sources, and colleagues.

However, improper usage can result in serious consequences. 

The following are a list of suggestions to limit your company's social media's risk exposure:

1. Know Your Audience – Write knowing that everyone, including the folks who sign your paycheck,

will be able to see what you post. Remember that your post will be globally accessible today and long

into the next Ice Age.

2. Be Respectful – Do not disparage competitors or criticize others. This obviously includes current

and former clients. After all, who among us is perfect?

3. Be Conversational – Write as you speak to real people in a professional situation. Avoid stuffy

corporate-speak and mannered language. In fact, avoid words like "mannered." That said, also avoid

slang that will unfairly diminish you and your superior intellect.

4. Add Value – Social media is no different than other types of communication. It should help others

build their business, improve their skills, solve problems or understand our firm better.

5. Spread the Good Word — When you have something good to say about our firm, say it on multiple

social media sites.

6. Honesty is the Best Policy – Never represent yourself or our firm in a false or misleading way. Be

transparent about your identity and relationship to our firm.

7. Stay In the Zone – Cover your areas of expertise, especially when referencing corporate products.

If you are not an expert, make this fact clear to your readers.

8. No Demagoguery – Limit personal opinions to your personal life. Even then, keep controversial

opinions off personal social media pages.

9. When In Doubt, Don't – If you have to think twice about a post, this is typically a good sign that it

should not be published.

10. Observe Copyright Laws – Give credit where credit is due.

11. Respect Confidentiality – Ask permission to repeat conversations and forward communications.

12. Avoid Hot Buttons – Do not participate in social media when the topic is a breaking event. Gilbert

13. Follow the firm's Code of Conduct.

14. Follow the firm's Privacy Policy.

15. Adhere to the firm's E-mail & Internet Usage Policies.

16. What Happens At Social Events Stay There — Photo sharing sites like Picasa and Flickr are

social media. Post photos taken at company gatherings with the greatest care and consideration.

17. Be Non-Confrontational – Avoid sarcasm and be mindful of tone. Do not escalate a potentially

volatile situation. Politely disengage from the conversation instead.
 
 

For More Information About The Potential Risks of Social Media Or For Your Free Commercial Insurance Quotes Please Contact Jason Shroot at 714-988-3325 or Please Visit Diversified Insurance Solutions at www.jasonsellsinsurance.com.  You May Also Email Jason Shroot at jason@diversifiedinsurancequotes.com

 

Employment Practices Liability Insurance (EPLI)

Is Your Business a Target Possible Employment Lawsuits


Wrongful termination… Sexual harassment… Discrimination… In today's litigious society, employers need to be prepared to protect themselves from employment-related claims and lawsuits. Recent years have seen an increase in charges brought against companies by current or former full-time, part-time, and seasonal employees.

A simple accusation by an employee can start the clock ticking on the expensive task of defending an employment-related wrongful act allegation. And, the 81 percent of claims that are settled in arbitration or in administrative hearings cost employers $22,000 to $40,000 on average. Even those claims that are settled immediately cost a Company an average of $7,500.

That's a hard nut to swallow for any commercial operation. Enter Employment Practices Liability Insurance (EPLI). EPLI helps protect small companies against the liability damages and defense costs brought by employees who allege employment-related wrongful acts.

As part of our EPLI coverage, we offer Employer Protection as an online resource to help you manage your employment risks by taking steps to avoid situations that may lead to litigation. We understand that small businesses don't have the resources to protect themselves from employment practices lawsuits.

EPLI provides protection against state and federal employment-related claims, including cost of defense, such as:

• Sexual harassment
• Discrimination
• Wrongful termination
• Breach of contract
• Negligent evaluations
• Failure to promote
• Wrongful discipline
• Infliction of emotional distress

We can help you obtain Employer Practices Liability Insurance (EPLI) to protect your business from claims by employees, former employees, or candidates for employment.

EPLI: For Companies of All Sizes

The number of lawsuits filed in Indiana by employees against their employers has been rising and judgments awarded to plaintiffs have been increasing.

While most suits are filed against large corporations, no company is immune to such lawsuits.

EPLI policies can be written whether you have other liability coverage in force or not.

EPLI: Protects Against Employees' Litigious Nature

EPLI, a relatively new product in the insurance market, protects your company from liabilities not covered under general liability policies.

Very few employers currently carry EPLI even though statistics show that businesses are more likely to face an employment claim than a property or general liability claim.

EPLI: One Claim Can Have a Devastating Effect

Employers today don’t equate the benefit of an EPLI policy to its cost. While EPLI coverage can be expensive, potentialdamages arising from an employee claim can be devastating to the bottom line.

Historically, an EP claim can settle at $40,000-$100,000, if it doesn’t go to court!

If the case does goes to court, damages awarded by the court average over $200,000, with as many as 10% of wrongful termination suits resulting in damage awards of over $1 Million.

The cost for employers to defend themselves can exceed $45,000 for a single claim.

EPLI typically covers most of the damages that a business faces in an employment lawsuit, including:

• Back pay
• Attorneys' fees
• Compensatory damages
• Front pay

EPLI: Employee Training Can Reduce Liability

We can even arrange for employee training and educational information to help lessen your liability profile.

In addition to providing coverage if there is a claim, some EPLI carriers will provide or help pay for employment practices training, which hopefully reduces your chances of getting sued in the first place.

Please Contact Jason Shroot at 714-98-3325 or Visit www.jasonsellsinsurance.com

The 17 Perils of Insurance

The 17 Perils

The word "peril" invokes different images for different people, although the reaction is usually the same for everyone: avoid, avoid, avoid.

Despite your best efforts, sometimes perils to your home and property cannot be avoided. That's where a good homeowner's insurance policy comes in. Homeowner's policies are defined by the perils that they insure against. The average homeowner's policy helps protect you, up to the policy limits, not only from common hazards like fire or wind, but from perils that you might think would be more likely to see in exotic locales than in your own neighborhood. Like volcanic eruptions and explosions.

Although there are myriad choices confronting policy shoppers, there are essentially three main categories of perils that you can insure basic dwellings against. Most policies cover the first 11, and you may have to purchase additional coverage for the others.

Here's a breakdown of the basic perils as covered by standard homeowner's insurance policies. 

The 11 basic perils:

• Fire and lightning
• Windstorm and hail
• Explosion
• Riot and civil commotion
• Aircraft
• Vehicles
• Smoke
• Vandalism and malicious mischief
• Theft
• Damage by glass or glazing material that is part of a building
• Volcanic eruption

The next step up in coverage usually includes the 11 basic perils plus six more:

• Falling objects
• Weight of ice, snow, and sleet
• Three kinds of water-related damage from home utilities or appliances
• Electrical surge damage

A third type of coverage protects against the above perils plus any other peril not specifically excluded by the policy. Examples of common exemptions include:

• Damage to the land on which your house is built
• Floods
• Earthquakes
• War
• Nuclear accident
• Intentional damage
• Business losses
• Wear and tear
• Damage caused by pets
• Theft from a house under construction
• Freezing of pipes in an unoccupied or vacant house
• Vandalism of a house vacant for over 30 days
• Weight of water or ice on a fence, patio, pavement, swimming pool or dock.
• Losses to property belonging to tenants
• Losses due to animals, birds, and fish

 For More Information On The Differences Between an HO3 and HO5 Homeowners Insurance Policy Please Contact Jason Shroot at 714-988-3325 or Jason@diversifiedinsurancequotes.com

Employment Practices Liability Tip

The best way for employers to prepare for, and hopefully reduce, any potential employee lawsuit is to create corporate responsibility standards and programs and effectively communicate such standards and programs to employees of all levels. Every company should have written policies and procedures which include a mission statement, acceptable standards of conduct, anti-harassment/discrimination policies, a code of ethics, and a corporate compliance program.

Employers should strive to create a working environment where employees are encouraged to alert management to potential problems and participate in investigations without fear of retaliation. Ensuring consistent administration of policies and responding appropriately and promptly once a complaint is made are the best ways to prevent retaliation claims. Management should reassure the employee lodging the complaint or participating in the investigation that he or she will suffer no retaliation as a result.

For Questions & Quotes

Jason @ 714-988-3325

www.diversifiedinsurancequotes.com