You are receiving this email because we want to help you stay informed about issues that may affect your business. If you have questions or concerns, please contact your Hylant Select representative. We are here to advise and help you.
CYBER LOSSES: I'M COVERED, RIGHT?
As NetDiligence states in its 2016 Cyber Claims Study, data breaches “are not just for the Fortune 500 companies anymore.” Businesses of all sizes are at risk for cyber losses resulting from the actions of professional hackers, malware, phishing schemes, stolen or misplaced electronic devices, and even unintentional employee errors.
Unfortunately, traditional insurance programs are written only to cover loss of tangible property, not loss of data or intellectual property. Download our Cyber Liability Overview to learn how exposed your business might be and how you can close the gap.
WHEN EMPLOYEES SUE GOOD EMPLOYERS
Over the last 20 years, employee lawsuits have risen roughly 400% according to Trusted Choice, an association for independent insurance agents. More than 40% of these types of suits are brought against private companies with fewer than 100 employees, and even good employers get sued.
For this reason, Employment Practices Liability Insurance (EPLI) has become an important topic. This coverage, typically excluded from General Liability policies, protects businesses from claims including:
- wrongful termination
- failure to promote
- age/gender discrimination
- claims arising from a third party, such as client or vendor
To learn more about this issue, watch the brief video Travelers: Employment Practices Liability - Demystifying Management Liability.
SPRING SHOWERS CAN BRING MORE THAN FLOWERS
As the whipping winds of winter yield to the stormy skies of spring, now is a good time to assess your flood risk. According to the Insurance Information Institute, flooding is this country’s most common and costly natural disaster.
To understand more about flood risks and how flood insurance works, read FEMA’s National Flood Insurance Program Summary of Coverage for Commercial Property. As always, please feel free to reach out to your Hylant expert to discuss your specific concerns or needs. The best time to have a conversation about flood insurance is before damage occurs.