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Effective Ways to Prevent Data Breaches

World Wide Specialty Programs

The top causes of data breaches include theft of physical items, human error, social engineering, privilege misuse, and malware. However, criminal hacking remains the most serious threat. These are some effective ways to combat criminal hacking.

Education

The experts at World Wide Specialty Programs state data breach education can help companies use their resources to decrease their susceptibility to them. Understanding how a data breach can happen can help the company develop a successful risk management plan. Even the smallest of businesses can be hacked by a criminal using stolen credentials or through computer coding.+

 

Software

Probably one of the easiest things to do is incorporate an antivirus software on all devices. On top of the software, firewalls and malware detection software can create a robust system of checks and balances. Many can be used on multiple devices with a subscription service and regular updates.

Security

Secure all devices with a two-factor identification system to keep out unwanted guests on the network. Make sure to use difficult passwords that are unique per site, person and device. Simple passwords are easier for criminals to hack and tap into your business.

With criminal hacking being one of the top causes of data breaches, it is no wonder there is so much attention given to it. Take these simple steps to secure your network and reduce your risk of a breach.


Finding the Right Survival Insurance

iSure

When it comes to planning for the future, high net worth individuals and high-income companies actually have a lot of overlapping needs, including a need to plan accurately for what happens when a key person passes on. Many high net worth individuals and families manage that wealth through trusts and businesses that operate for the good of their dependents, and as a result, they face the same issues when a key decision-maker passes on that a large corporate entity has to contend with, as well as the individual human challenges that go with grief and mourning.

Find Your Brokerage

If you need a survival insurance brokerage, you need to find an industry leader with a record of providing for their clients’ full range of needs. You can tell leaders like iSure from the rest by looking for the informational resources and client education efforts they make because their leadership usually starts with their own client base, who depend on them for an understanding of the ins and outs of risk management along with a variety of avenues of exposure. When you find the people who are dedicated to really helping you understand all your insurance needs, you will know it. Until then, it doesn’t hurt to start by reading all the resources you can find on the topic.


What Is Included in a Boat Sharing Agreement?

Boat Sharing

Sharing a boat with others is an easy way to enjoy life on the water without the hassles that typically come with owning the vessel. However, there are some negatives as well. There are many things that may be included in the boat sharing agreement that you should take into account before signing.

Insurance

As seen on www.marinersins.com/, sharing a boat comes with both pros and cons. Having boat insurance on a non-owned vessel you plan to use is an easy way to stay protected should something go wrong. Some agreements may require that you have the insurance, while others may have the boat insured for third-party use.

Charges

Owning and operating a boat comes with many costs from fuel to upkeep and storage. If you share a boat, you will likely have some share in the charges for upkeeping the boat. If you only borrow the boat during some outings, the agreement may specify how much the charges you pay to cover these costs.

Ownership

For those sharing a boat from purchase to usage, the topic of ownership must be addressed from the outset. Usually, the number of people sharing the boat has equal parts ownership and cost responsibility. However, other agreements can be made depending on other factors.

Read the boat sharing agreement to see exactly how much you are responsible for. Be sure to read anything regarding resolving disputes, having the boat maintained and keeping records.


Beware of Payroll Fraud in Your Organization

Payroll Fraud

Fraud can be a big problem for businesses. Employees who steal time from employers are committing payroll fraud. Protect yourself against these three types of payroll fraud as seen on https://www.wwspi.com.

Ghost Workers
Managers or HR might set up an employee in the system to get paid without a real human attached to the account. The check is deposited into a bank account and no one is the wiser until an audit is performed. The business is out of hundreds of dollars, possibly without being able to receive repayment.

Misclassified Workers

Classification of workers, employees or independent contractors, determines which entity pays taxes and other benefits. When employees are classified incorrectly as ICs, the business benefits by paying fewer taxes and not covering the worker on workers’ comp insurance. This type of payroll fraud may go unnoticed until a worker complains. Then, the business is on the hook for back taxes.

Time Fraud

Employees clocking in five minutes early once in a while isn’t a bad thing, but when it occurs over weeks or months, the time can really add up. When you have multiple employees who don’t clock out for lunch or stay clocked in for an hour or two of overtime each week, you’re pouring extra money into your payroll. And it’s a fraud.

Good staffing insurance can help you install measures in place that prevent employee payroll fraud.


Insurance Against Lawsuits

Axis

Avoiding a lawsuit should be important to you as a small business owner. In this litigious world we live in, it is almost a given to assume that your company will be put under the microscope at one time or another. To avoid liability altogether, having the right insurance can help to protect you if someone tries to sue you for injury on the premises.

Protection For You And Your Clients

You don’t want to lose everything that you’ve worked so hard for in one fell swoop. Ask your insurance agent at Axis to help you decide which policies fit your business the best. Some things to remember include:

  • Professional liability and management liability are two very different things. Understand the differences.
  • One size does not always fit all when it comes to insurance policies. Ask specific questions when you speak to your agent.
  • If you’re on the fence on whether or not to purchase a specific package, purchase it anyway. If you find that a year has passed and you have not used it, consider whether you would miss it or not if it were to be removed.

Taking care of your company doesn’t always mean proving that the customer is right and giving exceptional customer service. Sometimes it’s as simple as the right insurance policy.


Compelling Reasons to Protect Against Volunteer Litigation

VIS Volunteers

Although many areas have things called volunteer immunity laws, there are areas of volunteer work that present significant liabilities to a nonprofit organization. Nonprofit administrators are generally aware of the need to purchase insurance plans that protect against operational liability, but they don’t always stop to ask “do volunteers need insurance?” There are often exclusions in immunity laws that leave the volunteer or nonprofit vulnerable to litigation and the costs that accompany trying to resolve the situation. As these efforts can be quite costly, the professionals at VIS Volunteers recommend that a strong volunteer protection policy be carried by the nonprofit agency.

Potential Lawsuits

One of the areas not covered by immunity laws are situations where the volunteer brings a claim against a nonprofit agency. Here are some possible scenarios where a volunteer policy would be valuable.

  1. A volunteer is doing errands for the agency, runs a stop sign, hits a vehicle, and paralyzes the other driver.
  2. A volunteer, using a chainsaw, is clearing property with another volunteer when a piece of debris flies into the eye of the other volunteer and causes permanent blindness.
  3. A volunteer sexually abuses several children over the span of several years, as adequate supervision policies were not put in place.
  4. A volunteer alleges that an organization discriminated against her because of her sexual orientation.
  5. A volunteer slips and falls on the office floor at the nonprofit’s headquarters.

Complying With U.S. Waterway Regulations

The United States Coast Guard is responsible for patrolling American waterways and ensuring they are free from threat. However, the types of attacks range from pirates to environmental concerns. As explained by https://www.wqis.com/, the Coast Guard requires that vessels over 300 gross tons provide proof of financial responsibility for incidents that occur with oil within U. S. waterways. While there are funds in the National Pollution Fund Centre that can be used to help with environmental cleanup, the primary goal of establishing fiscal reliability is to hold the offender accountable for their actions.

Who Needs a Certificate

In the past, owners and operators were required to carry a paper copy of the Certificate of Financial Responsibility on board the vessel. However, the Coast Guard has transitioned to an electronic filing and approval system. Most vessel operators did not have the financial resources available to meet the financial requirements for approval, so using a COFR insurance policy can help your operations get approved. The following vessels need to obtain a COFR:

  1. Vessels over 300 gross tons using U.S. navigable waterways
  2. Any vessels transshipping or lightering oil in the Exclusive Economic Zone

Failing to file for a COFR can lead to fines and impound of the vessel. The requires limits of a COFR are generally set at $300 per gross ton or the greater of $5 million.


How to Protect Against Rental Losses

Rent protection and legal expenses insurance or landlord insurance provide protection to property owners when there is a renter on the property. If you have a tenant for a long time, whether this is in a multi-family complex or you rent out a home, you need to consider all of the potential losses.

Loss of Rent Payments

Now and then you might have to deal with a tenant that does not pay rent. This will happen if the renter forgets to pay, if he or she has a financial hardship or if he or she simply decides against paying. When this happens, you need insurance to cover that loss.

Liability Costs

If someone suffers an injury on your property, you could still be accountable. The legal costs associated are expensive and most property owners do not want to have to spend the time and money on court costs. The cost of landlord insurance, according to the experts at https://www.rentrescue.com is low enough that you could charge a slightly higher rent cost to cover it. This is a small amount in order to cover the high costs of a court case.

When it comes to your property, you need to be able to protect it. This is especially true if you rent the building or property to tenants.


How to Protect Against Missed Rent Payments

As a property owner, you rely on the tenant’s payments. If he or she defaults, you may feel like you are in over your head with costs. How can you make payments and make a profit when someone defaults? This is why having loss of rent insurance is so important.

Tenants Don’t Always Pay

The perfect tenant is sometimes difficult to find. When you enter into a rental agreement with a tenant, you hope that he or she will make good on his or her side of the contract. The problem is that sometimes life throws unexpected obstacles in the way. No matter the reason, if you do not receive money, this is a loss to you. Even the most reliable tenant on paper may end up unable to pay and you have to account for that risk.

Loss of Rent Insurance Protects

The experts at https://www.rentrescue.com/ explain how insurance can protect landlords from the financial drain. Policies may include legal fees for pursuing eviction or missed payments, one-month rent and reimbursement of rent lost.

If you own a property, you may trust that your tenants are going to pay. In a perfect world, tenants always pay rent. Unfortunately, circumstances change and you may need financial protection if one of your tenants does not pay.


Assessing the Value of Your Claim

merrimac ins

The role of an insurance surveyor is to connect the coverage of an insurance policy to the physical liabilities and exposures an individual or company may experience. The purpose of a coverage policy to protect investments or property from risk, and in the event that an incident happens, the insurance provider needs to assess the loss and how it relates to the terms of the insurance policy.

Avoiding Fraud

Receiving the notice that your claim will be investigated shouldn’t be taken personally. According to the professionals at www.merrimacins.com, insurance fraud is on the rise, so a surveyor’s job is to look out for false claims. There are some incidents that might clearly fall under the coverage conditions, while others may have gray areas that can muddle a straightforward approval process. In their assessment, the surveyor documents the loss, the details of the situation, takes photographs and does the research to determine value.

There are surveyors who work in every different industry of insurance. They include:

  • Homeownership
  • Automobile
  • Professional liability
  • Commercial property
  • Machinery breakdown

If your claim is denied, the first point of contact would be with the surveyor. This can help identify the area of concern and you may be able to talk the matter over with a supervisor and provide additional documentation. While it would be nice if all claims were approved, the insurance company does need to protect both their and their client’s interests.