As Hackers Lurk, Companies Turn To Cyber Insurance

Hacking that targets individuals and business is now a way of life. This has created a vast and growing market for cyber insurance, costing companies at least $3.25 billion each year in annual premiums. But that’s a drop in the bucket compared to what they will pay to insurers by 2025 – as much as $20 billion, according to Allianz SE, the world’s largest insurer. There is also a market for individuals who fear that they, or their families, could be hacked.

To learn more, read Ed Leefeldt’s CBS News article. Contact us to review your cyber and crime policies and coverages.

Keep Safe From Ransomware Attacks

As another reported ransomware attack spreads, we want to remind you to contact us to make sure your Cyber and Crime policies are current, and of the following tips to reduce your risk:

  • Download Patches
  • Back up your computer
  • Install protection programs
  • Don’t click on anything suspicious
  • Protect yourself when using public Wi-Fi

To learn more, read the article by Madeline Purdue on USA Today here.

Hackers Don’t Take Off

Nine out of 10 businesses experienced at least one hacking incident in the past year, marking a 21% increase from 2015, according to a survey by Hartford Steam Boiler. Essentially, no business is safe from hackers so it’s important to take precautions to keep your site secure. To learn more about hacking statistics read Hilary Tuttle’s article on www.rmmagazine.com here.

Holiday Parties, a Legal Issue?

The holiday season is quickly approaching, which means holiday work parties are coming to. Due to the increase in the consumption of alcohol at these events, they have significantly become a legal liability for employers. Click here to read David Barron’s latest article on www.thebalance.com, to find out how you can reduce liability at your holiday party.