According to The Insurance Journal, dated December 4th, 2019, fifteen states have revised their laws in the past two years extending or suspending statute of limitations to allow child sex abuse claims stretching back decades, unleashing potentially thousands of new lawsuits against the U.S. Roman Catholic Church.
Click here for the full story.
Veteran’s Day was November 11th, so I am a little late in writing this post. But, we didn’t want the day to go by without honoring all the men and women who have served in the United States Armed Forces. We are forever grateful for your service and sacrifice.
The terms Agent and Broker are sometimes used in the same context, but in reality, they are quite different. Both do act as a liaison between the insured and the insurance company, but the main difference is who they represent.
An insurance agent works for the insurance company. They can represent one or more insurance companies and acts as an extension of those companies. They are authorized to bind or initiate coverage on behalf of the insured.
There are two types agents: Captive and Independent. A Captive agent sells insurance for one specific insurance company. An Independent agent sells insurance for multiple insurance companies. In essence, they do the ‘shopping’ for you.
An insurance broker works for their clients. They are an advocate and work in the best interest of their client, not the insurance company.
There are typically two types of brokers: Generalists and Specialists. Generalists do not restrict themselves to certain industries or lines of business and sometimes consider themselves as a “one stop shop”. They can insure gas stations, restaurants and even nonprofits. With their book of business being so broad, it may be difficult for them to have the necessary knowledge and expertise into a particular industry or business, especially ones that are complex or have high risk factors.
A specialty broker does just that; they specialize or have a niche in a particular line of business or industry. They have access to a variety of markets, comparing multiple programs side by side. They generally have stronger relationships with underwriters and have a unique ability to negotiate for better terms and premiums. They will also have a better understanding of the exposures and various risks associated with a particular industry or business and can better recommend the specialized insurance solutions needed.
Many organizations are embracing a remote working lifestyle and this trend is only rising. Nearly 3% of the US workforce works remotely in some capacity. This is a 115 percent increase from 2005.
For all the benefits it may bring, it is opening your business up to an increased risk of a serious data breach. There are many factors that can contribute to your business becoming the next victim of a cyber attack:
- Inability to enforce security protocols
- Remote workers risky behavior
- Not adhering to security best practices
- Sharing devices with family and friends
- Not recognizing suspicious behavior
So, what can you do?
Cyber threats will always be a part of our reality, and cyber security has a hard time keeping up in this ever-changing environment. If you have employees that work remotely, now is the time to take another hard look at the security of your data. Here are 10 steps you can take to help minimize your risks:
- Establish written company security protocols
- Restrict or limit the use of public Wi-Fi
- Use a Virtual Private Network (VPN)
- Raise awareness by educating workers on how to recognize suspicious behavior
- Monitor company issued devices (check your state statutes)
- Apply cloud services
- Enable data protection software on all devices
- Restrict employees use the internet and not to use device for personal reasons
- Proper password management
- Do not share devices with friends or family
Contact Hawley& Associates today for information on Commercial Cyber Insurance and how it can protect your organization in the event of a data breach.
Commercial Crime Coverage
Many business owners don’t like to think about the idea of employee theft, but this can leave their businesses under-insured or worse – completely uninsured.
According to the US Chamber of Commerce, 75% of employees steal from their workplace and 30 percent of business failures are directly related to employee theft.
Even though there is no way to eliminate the risk of employee theft, there are ways to help minimize it. Employee hiring, training and retention policies are a good place to start. Minimizing opportunity, proper supervision, checks & balances in your accounting processes, and reducing the risk of ‘rationalization’ theft (an employee who thinks they are underpaid, and/or overworked and feels the company owes them) by making the employee feel vested in the company, are great risk management tools. Understanding the risk factors that lead to employee theft is your best defense in preventing it.
Crime coverage can cover:
||Theft of money
|Burglary or Robbery
||Forgery or Alternation
Hawley & Associates is hitting the road! We are excited to participate in this years NAATP (National Association of Addiction Treatment Providers) Leadership Conference in N. Carolina, May 16-20, 2014. The NAATP is a leading voice for addiction treatment providers representing more than 300 providers treating those who suffer from addictive diseases.
The conference is an excellent opportunity for H&A to meet executive directors and CEO’s and to showcase our services of providing specialized insurance products for these human service organizations. This industry can include addiction/substance abuse treatment, residential treatment, group homes, wilderness programs, just to name a few.
If you are attending this year’s conference, please stop by our booth (#69) and say ‘HI”! While there, be sure to enter our raffle for the $100.00 Visa gift card!
Hawley & Associates was excited to attend this years AACRC (American Association of Children’s Residential Centers) in San Francisco, CA. at the beginning of April. H&A was represented by Phil Hawley, President and T.J. Armstrong, our Business Development Manager.
It was great to see many of our clients there, who all specialize in Residential Treatment. It was also great to meet many new Executive Directors and learn of some exciting programs focused on helping teens and young adults that are facing adversity in their lives.
Hawley & Associates is a dedicated partner helping these Human Service/Social Service organizations with their insurance coverage and helping protect their assets and mission.
We strongly believe in the industry we serve, and look forward to serving all our Residential Treatment clients throughout the coming years. We specialize in providing tailored insurance products to meet their unique needs.