Nearly every major business transaction happens online. From your website, social media presence, online marketing efforts, bank transactions and countless emails, it has revolutionized the way companies conduct business. The scope and variety of criminal threats facing businesses are larger than ever.
Here are a few statistics to paint a picture. The estimated annual cost of global cyber crime is 100 billion. Seventy-three percent of Americans have experienced some form of cyber-crime. These attacks occur across a variety of mediums from Facebook accounts to..
Cyber-crimes are a looming threat to business. Below are the top reasons why cyber-crime rates are rising and why it is a good idea to recommend Privacy & Network Security and Commercial Crime insurance to your clients.
Negligence. A large amount of cyber-crime is caused by negligence. Accessing private company data on a public network such as a coffee shop, losing a company device, storing data without protecting it or failing to follow proper security..
Part of the challenges facing the insurance industry in the next few years is a struggle to find and develop new talent.
The insurance industry has been plagued for a while now by a lack of burgeoning talent. Nearly half of the industry leaders who took part in a CEO survey believe that the limited availability of key si One estimate reported that number of employees age 55 and over is 30 percent higher in the..
School administrators and teachers are responsible for the education and welfare of large groups of children. From everything from teaching to feeding, caring and nurturing the students, education professionals are involved in a wide variety of tasks. But in providing for their students, teachers, school administrators and specialists all face liability exposures in their profession.
School liability has steadily increased over the years. And as educators ascend higher in administration, the fallout costs of potential liabilities only continues to grow.
The Business-Standard recently reported that RPG Group was the latest victim of a cyber-attack. Fraudsters hacked its current account and siphoned off almost half a million dollars.
Cyber-security experts in India blamed the banks and Reserve Bank of India (RBI) for not being proactive enough to stop the attack. In addition, bank accounts were being created using fake documents and there are no effective know-your-customer measures to check this. As a regulator, RBI holds the responsibility to check what is happening.
However, bankers have a different view. They..
Part of being a business owner or top executive is planning for the long term growth and success of your company. This may mean preparing a future without your guidance. To ensure longevity, Directors and Officers must create a succession plan to continue their business after they are gone.
Part of those duties include finding and developing successors. Here are some tips on how to groom future company leaders.
- Find who thrives on change. >>Read More
Cyber-crime is one of the newest liabilities companies are facing on the market these days. As businesses continue to move larger portions of sensitive data and company operations onto the internet and computer networks, their risk of facing a cyber-attack exponentially increases. However, many Fortune 500 companies haven’t taken the necessary precautions.
According to a study by a national insurer, over half of Fortune 500 firms believed their firms would be seriously harmed by a cyber-attack. Yet many are still unprepared for one.
Employment-related risks have grown with the use of social media. While it is a great marketing tool that allows companies to reach a level of branding that was previously unheard of, it also increases a company’s liability.
The average social media user creates more than 90 pieces of new content a month. Over 30 billion pieces of content are shared every month. That’s a million more reasons that you should be careful about your company’s social..
Employment practices liability (EPL) claims are a significant area of exposure for companies. Across the country there has been an increasing trend of EPL claims and exposures. There are a number of factors for this increase, including trends that could offer the amount of EPLI coverage you offer to your clients.
First, there’s an obvious increase in sheer numbers. The Equal Employment Opportunity Commission (EEOC) received 99,447 charges from employees alleging employment practices violation- including discrimination, retaliation and..
Many clients and businesses are reluctant to purchase Cyber-security coverage because they don’t think they truly need it. It’s true; the high profile attacks on large corporations are splashed across the headlines. But smaller and midsize businesses are just as likely to experience data breaches. And, with more limited resources, they have more difficult recovering from them.
What’s more, the majority of data breaches aren't from malicious hackers looking to profit off your information. The majority..
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