When cyber attacks like data breaches and hacks occur, they can result in devastating damage. Businesses have to deal with business disruptions, lost revenue and litigation. It is important to remember that no organization is immune to the impact of cyber crime. As a result, cyber liability insurance has become an essential component to any risk management program.
Continuity is critical in business, and there are few things more important than continuous revenue and cash flow, particularly for small to medium-sized organizations. In fact, just one brief business interruption can be incredibly costly for an organization, often leading to serious repetitional damages or long-term closures.
The European Union’s (EU) General Data Protection Regulation (GDPR) comes into effect on May 25, 2018, and gives EU citizens more control over their personal data. However, U.S. businesses must also comply with the rule if they control or process any EU citizen’s data. Businesses that don’t comply with the GDPR could face substantial fines, sanctions and other penalties.
Over the past few years, most commercial insurance rates have remained flat or decreased because of strong competition between insurance carriers. However, the significant damage caused by Hurricanes Harvey, Irma and Maria in 2017 will likely cause many carriers to raise property insurance rates in 2018 for some policyholders.
Preparing for winter storms is crucial to survival and safety. Become familiar with winter storm warning signals so you can take appropriate action and learn the dangers of winter ailments so you can avoid injury.
According to a recent report from the Bureau of Labor Statistics, the number of workplace fatalities in 2016 rose by 7 percent to 5,190. This marks the third consecutive increase in workplace fatalities, and the largest single-year increase since 2008.
In 2017, the WannaCry ransomware attack, Equifax data breach and other large-scale cyber incidents demonstrated the dangers of cyber crimes, and the data stolen from those incidents will continue to endanger businesses and consumers for years. Additionally, in early January, researchers announced the Meltdown and Spectre processor exploits, which hackers can use to steal data from nearly every computer and mobile device.