Dr. Phillips: 407-855-1000

Blog

All posts in Cyber Liability

5 Professional Insurance Policies You Can't Do Without

5 Professional Insurance Policies You Can’t Do Without

Your professional insurance needs go way beyond property damage.

Protect your clients, your reputation, and your livelihood with these five professional insurance policies.

Most business owners understand the risk fire poses for a restaurant, or the consequences of a hurricane flooding a retail store. But many people don’t stop to think about the intangible risks that threaten professional services businesses like accounting firms, law firms, or marketing agencies.

Risks that property insurance and general liability coverage can’t protect you from.

Insurance works best when it’s custom fit to you. If you’re running a professional services business, you need professional insurance policies that fit.

Businesses that provide a professional service often seem “low-risk,” but just because you’re not working with open flames or heavy machinery doesn’t mean that you’re immune to disaster.

Here are five professional insurance policies that no professional services business should be without.
Read more →

10 Business Insurance Myths Debunked!

10 Business Insurance Myths Debunked

There’s a lot of misinformation about business insurance. Allow us to set the record straight.

Learn the truth behind these common business insurance myths so you can set yourself up for success. 

As a small business ourselves, the Harry Levine Insurance agency hates to see local businesses with the wrong insurance policies.

Whether it’s someone with unnecessary policies, too little coverage, or—worse still—no insurance at all, we can usually trace it down to one thing: misinformation.

Too many people have fallen prey to these business insurance myths for us not to address them. So we’ve gathered up the 10 most popular myths people believe about commercial insurance and debunked them, one at a time.

 

Read more →

First-Party vs. Third-Party Cyber Risk Insurance

Business owners who forego cyber risk insurance usually cite the cost as a deterring factor. But with the average cost of a cybercrime at $200,000 (and this is a conservative estimate!), you can’t afford not to have it. That amount might be a drop in the bucket for a Fortune 500 company, but for small and home-based businesses, it can spell disaster.

This is why we so strongly recommend cyber risk insurance for all types of business owners. Because you never know when you may become a target to this type of crime, protecting yourself at all times is essential.
Read more →

Think your small business won't be affected by cyber crime? Think again! Find out how to protect your small business from data breach and cyber ransom.

How Data Breach and Cyber Ransom Threaten Your Small Business

When it comes to insurance, most people think about protecting physical objects from loss or harm, but there’s something else—something vital—that your small business needs to put under lock and key: your data.

“But data breach and other types of cyber crime only happen to giant firms like Dairy Queen and Target. I don’t have the kind of records the bad guys want. Plus, who would even think to target little ol’ me?”

Every day, insurance professionals hear comments like this from their clients. But the truth is, data breach and cyber ransom issues effect an ever-increasing number of small businesses (that is, firms under 100 employees) in the United States. Often, these victims are “Mom & Pop” operations with under 20 employees.

In fact, small businesses are actually the perfect target for cyber criminals.
Read more →

Not All Data Breaches Are From Hackers

Not all data breaches are from hackers.

Not all data breaches are from hackers.

“Data breach? It only happens to big companies… It will never happen to me… My credit card processing vendor provides protection anyway…. I’m covered…. I don’t need to pay for even more insurance…”

Employee Allegedly Sold “bags of reservation documents” to Identity Thieves

Did you see this recent headline? If not check out the scary story here. This happened right here in Central Florida.

Ever heard the phrase ‘famous last words’? If not, you just read them above. Data breach and cyber security have become major problems facing business owners and individuals over the last decade. Getting caught in the trap of believing it won’t happen to you or that you have adequate protection without specific insurance coverage in place is often devastating. Businesses close, reputation and credit are ruined and recovery takes years if it happens at all.
Read more →

What is Cyber Liability Insurance and Do I Need it?

Cyber Liability Insurance

http://www.freedigitalphotos.net/

 

 

 

 

 

Q.  What is Cyber Liability Insurance and do I need it?

A.  People have heard of the Target Hack. You may be thinking, well my business isn’t that big or my credit card vendor will cover such a breach. You are wrong. Cyber Liability a category of insurance protection that is needed by every business that uses any sort of electronic database system, takes credit cards, or facilitates any type of electronic transaction using customer information.  People often believe that their credit card processing vendor offers them protection, and in some cases they may offer some small form of coverage.  
Read more →