2018 is here, and 2017 is in the rear view mirror. Last year we saw and experienced many hardships and disasters, but also hand many successes. We hope 2018 brings you much happiness and success. 2017 was a year in which many entire communities were destroyed by storms and wildfires, 20 million or more people experienced an identity theft, and a number of women come forward describing their sexual harassment.
Here is a list of the top risk issues for 2017
- Wildfires in California and Oregon – over $4 billion in damage
- Storms in Texas, Florida, and the Northeast
- Flooding in Texas, Oregon, and most of the Midwest
- Identity theft and cyber breaches
- An increase in sexual harassment claims
- The continued evolution of driverless vehicles
- The regulation of drones
- Advances in home technology
- Retention of key employees
- The ability to attract quality workers
- Random shootings
Over the next few months we will try to help you develop a clear plan on how to manage these risks. Please contact our office and we will be happy to help you identify what is important to you and then put together a plan to help you manage you risks most effetely. Here are just two.
Identity Theft and Cyber Breaches
Identity theft insurance provides reimbursement to victims for the cost of restoring their identity and repairing credit reports. This type of insurance will help you with certain kinds of expenses to aid you in restoring your credit. Cyber policies cover the liability arising from website media content as well as breach related property losses such as: (a) business interruption, (b) data loss/destruction, (c) computer fraud, (d) funds transfer loss, and (e) cyber extortion. It can also provide notification and other services for a covered loss.
Your business must address this issue head on. First, you need to secure employment practices liability insurance. This insurance will offer defense and indemnification coverage should you be involved in an employment litigation. Second, your business needs to have a clear anti-discrimination policy. The policy should include reporting procedures and anti-whistleblower provisions.
At McKinley & DiMarco Insurance Services, we know that your business is your livelihood and we’re ready to help you protect it. There are many professional liability issues involved in owning a business, and we can take you through all the ins and outs of commercial coverage. They say everything is bigger in Texas, but we’re ready to cover businesses both big and small.