The cost of dealing with a data breach goes beyond repairing databases, strengthening security procedures or replacing lost laptops. Regulations requiring notifications of affected customers also drive costs for companies in which a data breach compromises personal or confidential data. Traditional business insurance may not be enough to protect companies from cyber-crime. But just how does cyber insurance work?
Small businesses are growing, and they’re essential to the future of employment. But small businesses are exposed to risk in a way that far too many owners do not realize until it’s too late.
2020 has become the year of the remote worker, courtesy of the coronavirus pandemic. Is your business one of the many that has transitioned to remote operations? Have you considered how that change affects your insurance liabilities as a business owner?
Anyone who has been the victim of a ransomware attack or who has lost their data due to an equipment failure can tell you that the most expensive and time consuming part of the ordeal involved data recovery and reconstruction. Now that companies increasingly move toward paperless systems, loss of data can make reconstruction impossible when access to digital records…
Reducing the risk of a potential fire at your business is one of the most important things you can do to help protect your customers, employees and property. The U.S. Fire Administration reports that more than 111,000 nonresidential building fires occurred in 2017. Those fires caused 1,200 injuries and more than $2.7 billion in damages. For business owners, these damages can extend…
If you’re a small business owner, chances are you didn’t start your company out of a passion for bookkeeping. But as you grow, financial management becomes an increasingly important responsibility. For many, it’s an unfortunate truth. We all know that running a small business takes long hours and a lot of hard work. And this often means tasks like tracking…
Be honest: Could your business survive for several weeks—or even months—if it were shut down? It’s not fun to imagine, but it’s a reality business owners in every part of the country face each year when a natural disaster strikes. Just last year, Hurricane Matthew left behind more than $10 billion in damage—and hundreds of businesses were among the casualties….
Home-based businesses are on the rise. According to research done by IncFile, a small business start-up firm based out of Houston, Texas, it’s estimated that there are 38 million home-based businesses that generate $427 billion a year in the United States. Of those businesses, 20 percent of them bring in $100-500k per year. Big or small, home-based businesses all share…
Trading a commute and a desk for a flexible schedule and a cozy couch are just some of the many benefits of running a business from home. While these perks are certainly enjoyable, having a home business means that you are now responsible for many aspects of your company that an office setting would typically cover. With this in mind,…
In recent years, there has been a steady increase in the number of people renting versus purchasing homes. Many property owners are taking advantage of this trend and renting out either rooms or entire single-family homes. While this is a great opportunity for supplemental income, you might find yourself in a predicament if your rental property suddenly becomes uninhabitable for…
