Nearly every business in the world is vulnerable to cyber attacks. Cyber security is a crucial precaution that businesses need to take, and for good reason. According to a 2017 study on the cost of data breaches, the financial damages of the average data breach can reach $3.62 million, and that number is only expected to rise in the near future. Monetary damages aren’t the only repercussions for business owners when it comes to cyber attacks, however. A data breach can also damage a business’s reputation with their clients, employees and the general public. The most common -..
By Drew M. Smith
Axis Management Group Holdings, Inc is pleased to announce that they have been named one of the fastest growing private American companies in 2017 by Inc. 5000. The nationally recognized ranking company publishes an annual list of companies trending upward. They compared the revenue growth over the last three years along with employment growth and compiled the list on the impact of the companies related to the economy.
Mike W. Smith, the CEO of Axis Management Group Holdings had this to say. “We are proud to be part of this..
PL Risk Advisors, Inc. will be attending and exhibiting at PIA Annual Convention March 8-9 in Connecticut. At booth 36, PL Risk will be represented by Christine DeFelice and Matthew Culkin. They will be there to discuss products such as Errors & Omissions and Cyber Liability Insurance.
If you happen to be attending, we encourage you to stop by to find out how PL Risk can help you with your Hard-to-Place Clients. We offer wide market presence, nationwide placement, and the..
By Drew M. Smith
With regards to the many laws that took effect on January 1st, many benefit employees such as protection relating to social media privacy and the ban the box movement. One law recently passed in New York benefits families in a way most of the country struggles to keep up with.
As of January 1st, New York became the fourth state, after New Jersey, California and Rhode Island, to provide for Paid Family Leave. This is seen as a growing trend to match the rest of the world, and is one..
Whether it’s the result of an actively malicious action or an honest mistake, it is possible that every business will at some point have to deal with a lawsuit as a result of its business actions. In order to prevent a claim from causing devastating financial and reputational failure, every business should have the right insurance coverage. While there are two main policies that cover claims of negligence or improper conduct leading to losses—directors and officers (D&O) and errors and omissions (E&O) insurance—they are absolutely not interchangeable with..
By Drew M. Smith
When Equifax was breached last year, many people were rightfully furious. 145 million social security numbers, mailing addresses and even driver’s licenses were compromised. The fact that it took months for the company to report the breach caused considerable outcry and forced top officials in the company to resign. In addition, Congress opened an investigation into the breaches and how they got this far.
Now, new reports are suggesting the breach was much worse than reported. In addition to the above information stolen, hackers found tax ids, email addresses, driver’s..
Cyber security is something that every company must participate in. Exploitation occurs in every size business and every industry, and without the right Privacy and Network Security Insurance and safeguards, your clients can easily suffer a devastating breach. In this article, we’ll explore some major indicators that your clients have experienced a cyber-attack and how they can handle the situation swiftly to prevent further damage.
Hoax antivirus messages.
These are relatively common. Hackers send fake antivirus warning messages to users claiming there are..
Traditional ways of operating a law firm are becoming more and more dated. As the workforce is increasingly made up of millennials, the days of working a strict 9 to 5 with rigid policies are coming to an end. If your clients have not gotten on board and adapted one or any of these policies, chances are, they’re already falling behind. In this post, we’ll explore some of the needs of millennials and how big law firms can adjust to current..
The homebuying traditions set forth by baby boomers are becoming less and less popular. While putting 20 percent down on a home is ideal, millennials don’t have that kind of money laying around. Instead of foregoing home ownership altogether, a new report suggests that these individuals are changing the home buying landscape. In fact, less than half (39 percent) of millennials submit offers with the recommended 20 percent down payment. Twenty-one percent put down the minimum: 5 percent or less, says the..
PL Risk Advisors, Inc. will be presenting a complimentary webinar focusing on vendor breaches titled The Vendor Breach - Cyber Liability Among Business Partners. It will take place on Tuesday, October 3rd, at 2PM EST. Details can be found below.
The discussion will include:
- Behind the scenes of vendor breaches; what really happens
- Vendor Breach Multiplied - How to handle duplicate notification requirements
stemming from the breach of one vendor
- What contractual pitfalls to avoid and what to negotiate contractually, pre
and post breach
- What cyber policy terms and conditions to be aware of when evaluating
Posted:September 26, 2017
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