Business Insurance Plans – Do I Need One?
Would you rock climb without a harness? How about race a car without a seatbelt? Of course you wouldn’t! Those items protect you and allow you to perform risky maneuvers in relative safety. Without them, you’re vulnerable to serious injury, if not certain death. Similarly, you’d never operate a business without the proper insurance. There…
Read MoreBenefits of Professional Liability Insurance
If you’re in a service business, you work with customers on a constant basis. While you want to provide the very best possible service, guaranteeing it is an impossible feat; no matter how much you plan, there will inevitably be human errors, mistakes, or slip-ups that occur in the line of duty. While the vast…
Read MoreWhat Is the Average Cost of Errors and Omissions Insurance?
Errors and Omissions insurance—also known simply as an E&O policy—is a type of liability insurance instated to protect employees and employers against claims made by a client. These claims, pointed at a business for their inadequate or negligent services, are based on the fact that these errors cost the client money. Should a lawsuit occur,…
Read MoreWhat Is Cyber Liability Insurance?
Just a decade ago, cyber liability insurance was scant more than a niche market. The insurers that offered it either did so at an outrageous cost—while failing to cover much—or as inexpensive, sub-limited addendums to existing cyber policies. Now, though, the cyber insurance market has burgeoned and become an essential element to any business’ risk…
Read MoreWhat Does Errors and Omissions Insurance Cover?
Errors and Omissions insurance is a type of liability insurance that provides protection when either a customer or client accuses you or any of your employees of losing them money. This accusation typically highlights a mistake made on the business’ end. For any sized business, these claims can be costly, even leading to financial ruin.…
Read MoreCyber Insurance 101: Why You Need It
Your business is a ship. A fine, sea-hardened vessel with a hard-won reputation for providing safe passage to all aboard and timely delivery of cargo. Pre-digital revolution your greatest worry? Weather and piracy. Now, in this day and age, cyberattacks on your, your employees’ and your clients’ sensitive data are like an infestation of plague…
Read MoreWhat Does a Cyber Liability Policy Cover?
The enhanced accessibility of electronic data storage has created new opportunities for businesses to digitize processes and streamline efficiency from top to bottom. While cloud computing has revolutionized the way firms store and apply data, these advancements also come with their own risks. Cybercrime has emerged as a major threat to every company’s proprietary information,…
Read MoreErrors and Omissions Coverage: What Is It & How Does it Work?
Each and every project or professional relationship begins with a vision of perfection and mutually beneficial symbiotic bliss by both client and provider. However, then realities set in. Hardships arise and, more often than not, both parties are happy if the resulting product even comes close to the dream imagined at the start. Errors and…
Read MoreWhat Is the Average Cost of Cyber Liability Insurance?
The digital age has paved the way for astounding innovation and—as with most emerging technologies—has created new vulnerabilities for people and businesses. And in the case of cyber liability insurance coverage, we’re talking specifically about data breaches. Today, the average data breach costs $3.86 million. Additionally, you might be surprised to discover that 58% of…
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