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Tag Archives: small business
Like many other small business owners, you may have most of your personal capital tied up within your business and view your personal and business wealth as one large pool. While understandable, this mindset can unexpectedly impact your overall wealth in the event of personal property damage or an accident.
Consider that something as small as a candle, left lit and forgotten too close to a wall or a cabinet in your home, can cost upwards of $350,000 in fire damages. To make matters worse, if you don’t have sufficient insurance coverage for your home, you may be left paying for part of those repairs out-of-pocket. Continue reading
Although “average” hurricane activity dominated hurricane predictions earlier this year, some experts are now anticipating an increase in storms. The hurricane season, which officially begins June 1 and ends November 30, could see 14 named storms in the Atlantic Basin. … Continue reading
In speaking with small to medium size business (SMB) owners about network security or privacy events, such as a cyber breach, I’ve discovered there’s some misunderstanding about their risk and how their current insurance program will respond to this type of loss. Often they believe that their general liability policy will protect them or that they’ve got coverage under their media liability or directors and officers liability policies. They are potentially both wrong and right. Continue reading
More small businesses are eying opportunities abroad, but before your company packs its bags for new markets, it’s crucial to make sure you don’t leave your insurance behind. Continue reading
Today, extortion has entered the digital age, with businesses increasingly at risk from criminals who hack their systems, steal private information and then impose demands — or else. While companies have been busy combatting the threat of hackers and data breaches, the threat of cyber extortion is often overlooked. Continue reading
With the average cost of a directors and officers lawsuit being nearly $700,000, according to the Chubb 2013 Private Company Risk Survey, it’s advisable to watch this three-minute clip and familiarize yourself with the trending D&O claims posed against private companies.
If 2014 is anything like 2013, private companies should protect themselves from the evolving risks cited in this Property Casualty 360 article, “Wide Coverage Gaps Leave Private Companies Vulnerable to Expensive Lawsuits.”
Almost every small business is charged with managing company and customer data electronically. While the headlines may broadcast data breaches at large companies, small companies are also susceptible to data theft, fraud and other cyber-related risks. Symantec’s Small Business Survey … Continue reading