Monthly Archives: July 2013

Why Cyber Liability Insurance Is Important

Most businesses rely heavily on computers. They are used to store employee and client data, and for communicating with staff and customers.  Due to all the essential information that is saved on computers, as well as the ability to use them to inflict financial damage, cyber security has become an increasingly important topic.Pennsylvania cyber liability insurance is a way to protect your company from cyber errors and cyber-crime.  Here are some reasons why it is important.

Limits external exposure

Many general liability insurance policies exclude coverage for cyber liability. In the event a company’s security systems are externally breached, and financial or other proprietary date is stolen, there can be serious ramifications.  Legal fees, settlement awards and the expenses associated with handling a PR nightmare could result. A Pennsylvania cyber liability insurance policy can limit exposure to all these costs.

Covers internal issues

It is also possible for a company to face costly computer related problems that impact only internal functions.  An employee’s computer may get infected with a virus that spreads internally and shuts down the network. Your company can experience income losses as a result of this type of incident.  This may cause systems or software having to be rebuilt, which can be very expensive. Cyber insurance policies can be written to contain coverage to handle these types of situations.

A Pennsylvania cyber liability insurance policy can protect a company from external and internal exposure to cyber errors and cyber-crime.

What You Should Know About Retirement Home Insurance

Retirement homes and assisted living facilities provide a valuable service to seniors who prefer to live independently while still having the company and support of their peers. As the assisted living industry grows, so does the need for retirement home insurance for agents. A retirement home insurance policy covers the unique combination of risks associated with assisted living facilities.

Here are a few of the key coverages offered by most policies.

Liability

Most retirement home insurance for agents offers a combination of general and professional liability. Professional liability covers errors and omissions committed by the facility’s staff, while general liability covers everything else, including accidents or injuries that happen on the facility grounds. Liability insurance is one of the most important protections your facility can have.

Property

Property insurance protects the buildings, vehicles, and other types of property that belong to the facility from damage and destruction. Property insurance generally covers fire, theft, and other accidents. Assisted living facilities that maintain a fleet of vehicles can also get vehicle insurance under the property banner.

Workers Compensation

Assisted living facilities generally keep a variety of staff members on hand. Property managers, drivers, receptionists, and on-site beauticians and barbers are just a few of the most common types of employees. Workers compensation insurance protects these employees in the event of injury that occurs while they are at work.