Your business needs its materials and equipment protected to keep itself in operation. A single lawsuit, however, can lay waste to your investment. What better way to protect your business than to have your commercial property insured?
As an optional yet important insurance for small business owners, a policy covering your commercial property can be incorporated into your risk management strategies. After all, you never know when disasters or natural calamities will strike and possibly spur the bankruptcy of your company. If you have property insurance in place, you can receive benefits that will save your business and keep it going. (more…)
Businesses, even the smallest of them, should be more willing to protect their assets. Insurance might not prevent an actual cyber-attack from happening, but it can preserve business continuity. An accommodating technology insurance company such as InsureYourCompany.com should be able to secure hedges for a business against whatever risks the company could face in the future.
It is not enough to chart the growth of a business; owners also need to plan for the worst. Risk management arrangements can help businesses come up with contingency plans in the event of a crisis such as a cyber-attack or a network crash, but it will not save a company from having to pay for the total cost of the damage. Businesses that have high profile clients, in particular, will need a way to cover for the expensive losses they might suffer, or risk losing their clientele and even more money in the process. Tech insurance for small business owners might sound like a tall investment, but it can be a lifesav
Take note that your typical liability coverage will not cover the costs associated with cyber-attacks or malware/viruses. For this, you’ll need to purchase a comprehensive technology insurance policy for your business. This should financially protect your business in the event of a data breach and the like.
Needless to say, you should purchase technology insurance for small business owners from respected agencies like InsureYourCompany.com. Similarly, you should make sure that the insurance policy you purchase provides coverage for the most common risks your business faces.
Fortunately, insurance companies, like InsureYourCompany.com, offer technology insurance policies. In a nutshell, technology insurance covers problems that may arise with your IT services. From data breaches to system integration and updates, this type of insurance protects your business from the costs associated with fixing the problem.
Why is technology insurance an important insurance for small business owners to get? Contrary to popular belief, small to mid-sized businesses (SMBs) are a preferable target for hackers. In fact, a 2012 survey revealed that 87% of SMBs in the U.S. experienced a cyber-attack on their data systems—and why not? With less encryptions and other security measures, infiltrating SMBs are a walk in the park for experienced hackers.
If a piece of critical hardware malfunctions (such as those found in cars) and the error inadvertently leads to injury or death, it is often enough for customers to make negligent claims against the designers. Such mistakes can be extremely costly for tech companies, and can run businesses to the ground if they fail to handle the situation properly. A well-versed technology insurance company should be able to provide tech firms with reasonable professional liability coverage to deal with such instances.
Lawsuits can easily bankrupt a business. To protect your investment, here are two important policies that small businesses should own:
Commercial General Liability
A standard commercial general liability policy provides insurance coverage for lawsuits arising from injury or damage caused by your business practices or employees. It also covers infringement on intellectual property, slander, libel, contractual liability, tenant liability, and employment practices liability. (more…)
In 2013, big retail companies were targeted in a series of cybercrimes, where costumer information was stolen and used for fraud. Millions of dollars were lost by these establishments, some of their executives and employees were fired, and customers became apprehensive about using their cards at those stores for a time, which cost even more money.
If there’s anything businesses should learn from the recent data breaches that have hit the headlines, it’s the importance of protecting themselves. Using systems that accept unencrypted credit card data or data storage with weak security, for instance, can put your company at risk, so shifting to more advanced and highly secured systems would be ideal. The question is: if upgrading all your equipment or software would take time or if it wouldn’t be possible currently, can you still protect your company? (more…)